Do you work in the middle of a busy city? Do you work for yourself, or are you tired of working from home? Sharing a working space with a business that complements your own could be the best way to lower overheads and streamline those profits.
Coworking spaces are growing in popularity. Since the pandemic shut so many American businesses, we have sought new ways to shave costs in our SMEs. Those lucky enough to have found shelter during the covid storm are still looking. With rising energy costs and fuel prices skyrocketing, we need to step back and further evaluate how to save money. We present to you the shared working space. Here are some of the ways it could benefit your business.
Shared Workspaces are Mutually Beneficial
If you share a workspace, you quickly learn it is better for all involved. Here are those benefits in ways we all can get behind.
Lower Rental Costs
If we look at the model of a coworking space that eastern countries are using, we see that many businesses can rent rooms in the same building, therefore saving themselves on rental costs. Private rent comes to an average of 30% of gross income in the USA. Some businesses claim rental prices are anything from 1% to 13% of the profit margin. Of course, the percentage depends on how much you make and what industry you work in. Sharing your space or renting a room from another business can save you cash.
You share the bills when you share a coworking office or building. Presumably, all businesses on site will require the internet to operate. Therefore, all companies on the site should contribute to the monthly cost of the internet. This way would allow you to buy better systems because you only pay a percentage of the price.
It doesn’t stop at the internet, either. American businesses could save on air-con costs and maintenance, repairs to the building, lighting, and even the furniture you use in the waiting room.
Since all the shared tech in your office costs a fraction of the total price, each member business can buy better technology, to begin with. The advantages of tech are numerous. They include a boost in production and a gradual increase in profit. It saves time, reduces staff frustration, and allows you to optimize your online presence. Better tech costs more money, the money you could save through a shared office space.
Granted, you might perform a completely different business than your neighbor. However, that doesn’t mean you can’t share with certain staff members. For example, your receptionist could work for either company, accepting a fraction of their wage from each of you. Similarly, maintenance staff, building managers, and even cleaning staff can all become a shared expense.
Sharing Office Space is Cost-Effective
When we get to the bare bones of it all, sharing your office space is a cost-effective way to do business.