When the coworking industry initially started gaining traction, it was an exclusive domain for budget-tight startups and freelancers. Today, this is no longer the scenario. More and more SMEs and large corporates are avoiding the hassles of traditional offices and opting for coworking. Giants like Google, Paytm and Amazon work out of shared workspaces. Brands flocking to workspaces are usually looking for something extra. A large office is of minimal concern to them. Shared workspaces offer several intangible benefits not present in a traditional office. Coworking spaces are cost-efficient, offer flexible options and do not require a long-term commitment with respect to financial investment. Read on to know why opting for a shared office space would be a great option for you!
One of the primary benefits of a coworking office space is its cost-efficiency. Traditional office spaces can be expensive when it comes to the monthly rent. Additionally, in an office of your own, you would have to pay for electricity, water, WiFi, cleaning & housekeeping services and so much more. As a result, your overhead costs would automatically go up. In a coworking space, on the other hand, all the above costs are paid for and inclusive of your fee. Moreover, you do not need to spend on furnishings, interior designs, lightings & fixtures and pantry services. With flexible payment options, you can focus on driving your business growth.
Gone are the days when the office was just a place to work. Today, with rising competition and people spending larger amounts of time working, the office has become a 2nd home for many. As such, employees need some extra facilities to ensure their productivity. Such services include unlimited beverages, a clean and stocked pantry, fast WiFi, air-conditioning, recreational spaces, community events and more. For a traditional office to provide so many services would be a herculean and expensive task. A shared office space, on the other hand, has separate people who ensure that all these resources are available 24/7. As a tenant, you can enjoy these resources without having to worry about replenishing them.
The corporate world is a place of cutthroat competition. Every single day, new companies are shooting to success while old companies are shutting down. With evolving external circumstances, your business scenario might also change. You might be a startup of 10 people today and a booming corporate of more than 100 people in a year. As such, committing to a traditional office isn’t a good idea. In a workspace, on the other hand, you have the flexibility to choose the type of space you need. You can also change your chosen space, if necessary, without any penalties or difficulties. For instance, if you are a team of 3 people starting a new business you can choose the hotspot or single seat option. Once your business grows, you can move to a private cabin.
One of the biggest benefits of a coworking space is the wide plethora of networking opportunities it opens up. A shared workspace is usually shared between people from different industries and domains. This opens up networking opportunities within the community. Startups and first-time business owners can find industry veterans for advice and guidance. They can also find potential investors which is an essential for startups. Industry giants can find potential partnerships and expansion options. Most coworking spaces host community events which are a great place to network and find business opportunities.
Your human resources form the backbone of your company. Hiring the right talent is the most important prerequisite for a successful company. However, finding talented resources isn’t an easy task. Companies spend huge amounts of money on hiring recruitment consulting firms who can solve their staffing woes. At a shared office space, you have access to several freelancers who would be working within the same space. This, in turn, can help you find potential employees. If you are a first-time business owner, creating a holistic talent acquisition strategy might be difficult. Coworking spaces give you the opportunity to interact with industry stalwarts. These experts can guide you on factors like hiring the right talent, asking the correct interview questions, creating a competitive benefits package and more.
A coworking space is an advantageous choice for freelancers, startups, SMEs and large corporates. Are you planning on moving to a new office? With the shared office space industry flourishing, this would be a great time to opt for coworking! At Rainmakers Workspace we have several flexible options to suit your business objectives. Contact us to know more.