Advantages of Shared Offices Over Rented Office Space!!
When you run a business, there are a lot of decisions to be taken into account. One of the most important ones is where and how you want to work. There are countless options but this decision shouldn’t be made lightly. If you have never considered the advantages of shared office space over rented office space you may be surprised by how much this arrangement can benefit your business.
- Rental Cost: When you think of taking an office space, what is the biggest burden on your head?? Of course the rent. It doesn’t matter whether you have already started earning profits in your business or just started your business; the fixed rental cost is the cost that just remains a fixed cost. It is like a permanent cost that remains irrespective of your profits, people, resources or circumstances. The challenge is when you have to pay the fixed rental cost even when you increase or decrease with the number of people who work with you in your office. You keep paying the fixed rental cost irrespective of the number of people working with you or for you. But that’s not the case in case you opt for coworking space. You are flexible with your rental as you only pay for the people who work with you each month. This is one of the biggest advantages of shared offices over rented office space.
- Overhead Cost: It’s not just the rental cost but also the fixed overheads like electricity cost, salary cost, housekeeping cost, front office, etc. But when you make a choice for a coworking space, you have no fixed overheads on your head.
- Infrastructural cost: Yes, the rental office gives the flexibility to design the office as per your individual choice but is at the cost of huge investment of time and money that why this is not the ideal choice. But most of the shared offices offer ready to use office spaces that are beautifully done up with the state of the art infrastructure. Shared offices provide you fully functional offices from internet services to food services. All you need to do in a shared office space is to carry your laptops and start your work.
- Lock-In Period: In the case of rental offices, you land up paying not just the fixed rent and a huge security deposit, but also you have to bind yourself in a fixed lock-in period to stay. You are under a fixed contractual period to stay at the rented place and it puts a huge mental burden. Whereas, shared offices offer immense convenience to start or stop your business form the same place as per your individual choice, convenience, and profitability. It is the leanest form of business setup, where you end up paying only for what you use and that too only till the time you use. There are no strings attached.
- Flexible timings: In rented offices generally you have to maintain a particular timing but in shared offices, you are flexible with the timings. Many shared offices allow access to their premises 24×7. By opting for such an office, you can maintain convenient timing for your work in a smooth manner.
So, now after reading these points, I hope you know how beneficial is to start your business in shared offices rather than going for rented office. Coworking spaces not only give the convenience and advantages of working in a community with shared resources at a most affordable price they can also be used as a virtual office, meeting rooms, studio rooms, training rooms, and general corporate events to be hosted on daily basis.