The Not-So-Obvious Cost Savings of a Coworking Office Space
Jul 31, 2018

When you’ve launched a new business, every dollar makes a difference. This money-conscious mentality has helped some of the greatest businesses in the world take off and earn billions.

Following that logic, you may be tempted to save money by basing your office out of your home in an attempt to pinch every penny, however there’s a ton of great advice that suggests that working from home in isolation is not a good idea.

Of course you know that a coworking space is going to be less expensive than renting your own private office space- that’s just common sense. You might not realize how much you are actually saving – and gaining – by choosing a flexible professional space that grows with your business.

Here are some of the ways you’re saving big with any coworking membership:

√ ELECTRICITY

Ontario business owners already identify the cost of electricity as a major threat to their survival, and Ottawa in particular has seen increases in the cost of Hydro One year over year. When you’re in a coworking space, electricity is included.

√ INTERNET

Canadians pay some of the highest telecom prices worldwide, and signing up for a business-grade internet account to support your professional needs can run anywhere from $75-$150 .

√ FURNITURE & DECOR

Aesthetics are an important part of how your business is received by potential clients – not just the design of your marketing materials, but also the physical space where you’ll meet, pitch and close your contracts. Coworking spaces invest thousands of dollars into designing a look and vibe with everything from lighting, furniture, wall treatments and more.

Need a conference room? Coworking spaces are equipped to accommodate meetings – and events – of all sizes. Throw in free parking, and you’ve just saved a few hundred dollars a month already.

√ SECURITY SYSTEM

You can avoid the high cost of security equipment and the inconvenience of long contracts and financing periods with coworking spaces, because the cost of alarm systems and security cameras are already included with the space.  If you get a membership with a private office, you can lock the door and secure your items in that way as well.

OPPORTUNITY COSTS

If you ask any successful business owner, they’ll tell you that networking is absolutely priceless. When you’ve set up shop at a coworking space, you’re instantly surrounded by like-minded and driven entrepreneurs and business owners. You can network with this community on a daily basis – something that doesn’t happen when you’re in a home office. There’s also the greater awareness that will benefit your business, because you’re in a high traffic area. Coworking spaces also love to show off the work their members are doing online.

 

All these elements add up to hundreds and thousands of dollars saved that can be better put to use on your business. Questions about how coworking at Collab Space can directly benefit your business? Drop us a line.

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