5 Ways On How Shared Office Space Can Save You Money

The beginning is always the most difficult. Entrepreneurs are the living examples of this adage. Managing a business, growing it on a shoestring budget is the most important requirement for an entrepreneur. Is it any surprise that such minds have bent and flexed the way real estate industry works?

The long term fixed lease or worse owning an office space is in the past. The shared office spaces have come out as a successful model to save money. There are five ways how shared office spaces save money.

Reduce Leasing costs – Finding an office space that fits your requirements is a big ordeal these days. The various costs including security deposits, guarantees et al top it. Office space can be a drain on start up resources. Shared office spaces are flexible and rents can be paid by the day, week or month. This largely reduces cost of space especially the initial investments compared to the traditional leases.

Manage logistics and overhead – Having ones own office comes with a lot additional costs in facilities and maintenance. From printing, scanning to the coffee machine; from reception services to cleaning everything adds up to the startup cost. Shared office spaces are fully furnished and come with all the amenities and facilities. With a shared office, you can come into your secure workplace, connect to your network, and enjoy a comfortable chair and big desk from the very first moment. So it’s just "plug and play".

Increases visibility – The networking is a well-known benefit, but it is only the tip of this iceberg. The huge cost save in finding leads, generating PR and word of mouth promotion becomes almost free in a shared office space. A shared office space is a buzzing beehive of like-minded passionate professionals and chances of you meeting your potential investor, customer, client, partner or even cofounder is high.

Bartering - We have come back a full circle on this. A freelance content writer today gets a free desk in return for a regular blog to the space provider. A techie maintains the website of the space provider in return for deep discounted space for his company. Exchanging services and expertise has become the new method of exchange. A cost saving option to all parties concerned.

Better location – It will a dream to have an office bang on in the center of the city but not always affordable to a small business or a startup. But it may not be so difficult to get a desk. Shared office space makes it more affordable to hold a prime spot where business is. A lot more value to your money.

A shared office provides you the opportunity to rework those rules of working, conducting business and spending. It does not matter if the desk houses your small business, incubates your next big idea or launches your freelance career; the right space can deliver the foundation necessary to maximize productivity without getting caught up in the logistics of leases and managing vendors.