Starting and growing a business can be a daunting challenge at any time but in these uncertain times of the post-pandemic economy, more flexible businesses will benefit in several ways, pivoting as they did during the pandemic to stay afloat. The good news is that coworking spaces offer growing businesses and restructuring businesses a wealth of benefits to stay the course and thrive. The list of benefits that coworking spaces offer can be a good fit for your business – consider these benefits as you look towards the future for your business.
- Cutting your overhead
Let’s start with the time and money savings your company will enjoy by avoiding the costs and time commitment of leasing and outfitting an office space. While the pandemic caused a real shake-up on the commercial real estate scene with spaces that never would have otherwise been available, commercial spaces opened up for sale due to businesses downsizing or shutting down altogether. Still, most small and medium businesses aren’t in the market to buy an entire building, even at a great price. When it comes to commercial leases, however, contracts are still quite lengthy, and commercial office setups can disrupt business growth and put a significant dent in your bottom line. A commercial office space lease may include some of the things you need to run an office, but they might not. Just to open your own office You’ll need:
- Desks, computers, printers, and other business equipment
- Reception furniture, artwork, and interior design services
- High-speed, reliable Internet
- A security system both physically and on the Internet
- Amenities such as coffee, water, and snacks, plus someone to keep up with shopping and stocking supplies
- A cleaning service – this may be included in your lease but if not then you’re on your own when it comes to hiring someone to clean your office regularly
On the other hand, when you join a coworking/flex office space, all of the above things are included in your membership plan, in addition to:
- Community managers that keep things moving smoothly
- A variety of meeting rooms equipped with professional audio-visual equipment for presentations
- Best in class business machines and super-fast Internet
- 24-hour access to your office space
- A variety of well-appointed areas for breaks and meeting clients
- A diverse group of business professionals to interact with
- Flexible monthly contracts
- Scalable spaces
Coworking concepts offer scalable spaces for your business as it grows. In a traditional office space, you may not know how much space you will need as your business grows, especially since work is now more mobile and people can work from almost anywhere. You may also be stuck with paying for a lot of extra space you don’t need during economic downturns. Speaking of extra space, at coworking spaces, flexible, monthly contracts allow you to add space as you need it. You could move to a larger office or take another office for your teams. Business owners also have access to conference and meeting rooms at discounted hourly rates for members. Most coworking spaces include some conference room hours in monthly plans with the option to add hours as needed.
- Community connects your business
Unlike traditional office settings, businesses in coworking spaces have access to the local business sector. Building relationships with other business owners provides more exposure for your brand in the local market but also connects your business to a direct pool of freelance talent that you can access for your marketing, web design, content writing, and other services that can boost your bottom line. Interacting with other members of your coworking community can also spark new ideas for projects that might be the key to a specific project’s solution. Connecting with other members on ideas could lead to collaboration and a new business venture for you or someone in your company.
- Scheduling flexibilities
Some days you may need all of your team present and in-person, while other days you may need your team to split up to cover more ground, meet with outside consultants, or take care of other business. Day passes are available for visiting consultants, clients, and other team members who aren’t included in your monthly office contract. Your team can also meet with clients in lounge areas or dining areas for a change of pace or to talk in-depth about an idea that’s brewing.
- Seeking external resources
Sometimes you reach a point where you’re stuck and could benefit from another business owner’s advice. The flexibility of coworking spaces allows you to speak with someone in your coworking community who may have experienced the same obstacle you are struggling with and be able to offer their advice. Given the diverse communities in most coworking spaces, you can hire other members for legal, financial, insurance, and other issues you need from time to time. Adding new staff members is faster and easier than in traditional office environments, as well. Waiting to vet someone for an open position traditionally involves several interviews to find out as much about your candidates as possible. In coworking spaces, you already know how your candidates work or you know someone that can supply a reference for your candidate or recommend candidates for your open positions.
For startups, as well as growing small, medium, and large companies, the benefits of joining coworking spaces far outweighs going it alone in these uncertain economic times. The convenient, turnkey opportunities that coworking spaces offer help businesses save money and time, eliminating the need to sign a lengthy commercial contract for an office you might outgrow or that may prove too large during economic downturns. In contrast, coworking spaces scale with you to provide as much space as you need to conduct business each day. Adding staff is as easy as changing your plan for the next month. Studies have found that people who work in coworking spaces are more productive and generally happier than those working in traditional office spaces. In Scottsdale, Pacesetter Workspaces offers a sophisticated, upscale experience in world-class style and comfort with everything you need to run your business while your business expands into its next phase without disruptions!
Sound like a good fit for your business? Schedule a tour today!