The new year allows every business owner to recalculate a route and start streamlining the business. Some of the welcome changes that may remain with us even after the Corona are related to full flexibility in the workplace. At a time when most employees are at home and continue to perform the important tasks of the business online, you can save a considerable amount in moving to a flexible office rental model. What opportunities do you have today?
Keep the existing office and continue to pay rent?
Many are currently debating whether to continue holding the existing office. Some businesses have completely moved to work from home. They closed the office, but still pay rent for months on a designed space with a “closed” sign. Others gave up the office altogether and moved to work from home. These pay a very expensive price for the reputation they have built up over the years that customers could visit and feel the business. Business meetings at Zoom can be suitable for a week or two but not for a full year.
Also, working from home has an additional cost, most business owners also own families. Working alongside the children provides extra time with them, but can also be a significant distraction. Think about how many times you said “sorry” to a customer or employee during an important business conversation, in which the children suddenly entered the room to ask a question.
Today, it is possible to maintain the reputation of the firm, and create a comfortable work environment without paying the painful monthly rent – co-working spaces.
What is a co-working space?
A co-working space is an office space divided into small offices and workstations (shared desks). These spaces include a fully equipped kitchen with employees’ contents, meeting rooms, secretarial services, fax, and a wide range of services that are divided among the residents. There are currently over twelve million workspaces of various sizes in the world, some privately owned and others Urban owned.
One of the great advantages of co-working spaces, alongside the low rent is the great flexibility in rental conditions. These offices can be rented for use several times a month, for regular monthly use or an entire year. The contract can be terminated at any time (usually with 30 days’ notice), as well as renting more space in the same office as the organization grows.
At present of the Corona crisis, shared spaces are becoming the preferred option by many free professionals, high-tech companies, graphic artists, accountants, and individuals with new ventures. The great advantage of renting flexibility as well as the possibility to adapt the space needed to the company’s needs at the same time makes office rentals particularly worthwhile.
Some professionals use the shared space to go out and work outside the home space without interruption. Others use the firm as a meeting place with potential clients, investors, and business colleagues. The designed and equipped complex without a one-shekel investment on office furniture or equipment makes any co-working space a means of minimizing business expenses at a time of economic uncertainty.
Meeting place for entrepreneurs at the outset
Over the years, workspaces have played another role in the growth of small businesses. Some of them have become accelerators for start-ups where new entrepreneurs can hear lectures and receive support from old entrepreneurs. The meeting rooms become an easy hour for a room where new ideas go the life and receive feedback from new ventures and investors. For instance, venture capital firm owners looking for interesting new investments come and teach about the challenging process of raising capital at the outset.
Space itself, where tables of developers and graphics work together to realize the start-up, can meet new talents and start bringing a joint venture to life. It is likely that in the coming decade instead of hearing about projects set up in the parking lot or shelter of a student home or dormitory, we will hear about several entrepreneurs who met in a co-working space and started the famous international organization together.
Leaving the expensive offices and moving to a sane model
If we think about this for a second, what is an office? It is a four-walled meeting and working place divided into sub-offices, office furniture, and equipment. Today, companies that rent offices on an entire floor spend a fortune just to purchase the equipment that employees use for several hours a day, pay for the coffee machine, refrigerator, printers, ink, the communication system in the organization, the Internet, electricity, monthly rentals and a wide range of expenses.
When choosing to work within a workspace shared by many professionals, all these expenses can be saved that can reach tens of thousands of shekels each month. Employees will still enjoy quality coffee in the morning from an impressive machine maintained by the owners of the shared office complex. All this, free of charge of the electricity, water, and internet bills that accompany the day job.
Many offices operating in a prestigious complex pay a fortune for the high-quality location of the office and the cost per sqm is very high, although most of the rooms in the office are not populated. In contrast, shared spaces give all these benefits at a cost of a single percentage of the cost of maintaining your own office.
Conference room only when you need it
Think about how many times you’ve used the conference room in your office? Did it becomes a meeting place for the whole office every day? In co-working spaces, you will find a fully equipped meeting room, which usually includes a projector, many seating, and an impressive table in the center. The amount of seats at the table is enough to accommodate an entire department, and presentations and audio can be viewed with overseas customers or vendors at the touch of a button. You get all the benefits of a fully equipped luxury office, just for months when you need it. The rest of the year, when everyone is in quarantine or on summer vacation, you don’t have to pay monthly rent and can cut off that capital for investment in developing the business.
In conclusion, workspaces become the most convenient and efficient means of enjoying work in an office environment, meeting with customers and creating meaningful networking, at a lucrative cost, and taking better advantage of the company’s resources. This year, more than any other year, the great advantage of moving into these spaces can be identified.