Coworking spaces have the power to transform the work-life experience. It’s more than just physical space, coworking gives you more control over how and when you work, sparks creativity and collaboration, and supports a healthy work-life balance.
All of this massively boosts your team’s wellbeing and productivity, which in turn, increases job satisfaction. This is a huge win for business leaders! After all, you want your people to thrive and live their best professional lives, right?
But the business benefits don’t stop there. Coworking spaces can also save you a lot on operational costs compared to traditional offices.
Here’s 6 ways a shared office space could be cheaper than a traditional setup.
Most businesses have one top goal in mind: growth. But it can be unpredictable.
Say you’re a team of three with big dreams of expanding over the next three years. You could lease a big office to prepare for future expansion. But what if your growth is slower than you’d hoped? Or what if you play it safe and rent a smaller office, only to outgrow it faster than you expected?
With coworking, you can easily adjust your workspace based on your needs without the hassle and cost of breaking a lease or hunting for a new office. This scalability perk can save you a hefty sum compared to the rigid leases you often get with a traditional office.
The adaptability of a coworking space means you can grow your business without the fear of overcommitting or being underprepared. It provides a safety net for your investment, allowing you to expand your business confidently.
More and more businesses are ditching the regular 9 to 5 and long-term office leases, opting for short-term, flexible lease agreements with great financial benefit.
With a shared workspace, you only sign up for month-by-month payments. So, you dodge the commitments and financial requirements of a long-term lease – perfect for keeping those costs down.
Coworking spaces are usually charged per workstation and offer the most flexibility with the shortest terms. Here at Work.Life, you can go for short-term or long-term rentals or a pay-as-you-go monthly membership for even more freedom. That means greater control over your workspace and the flexibility to pick the best option for your budget and schedule. It’s a win-win.
No more long-term contracts, security deposits or all the other financial burdens. Coworking spaces are a budget-friendly dream for start-ups, SMEs, and freelancers.
Coworking spaces are fantastic for cutting the usual costs of renting a private office. We’re talking Wi-Fi, utilities, daily cleaning, kitchen supplies, facility management… the list goes on and on.
With a coworking space, all these amenities are nicely bundled into one monthly payment, making budgeting a breeze. Plus, no more juggling multiple bills. It’s ideal for keeping operational costs in check (and who doesn’t want that?!).
Shared facilities also mean more chances to network and collaborate. Not only is this great for boosting productivity and creativity, but also for sparking potential partnerships that could save you even more money and drive business growth.
Let’s move onto our favourite topic – happiness at work! It’s no secret that a happier team is more engaged and productive. And guess what? Coworking spaces have loads of ways to make that happen.
Shared office spaces offer awesome perks through greater access to amenities and activities. From on-site support and fully equipped kitchens to regular wellness activities and social events, our coworking spaces have plenty of facilities and a positive community vibe to promote a healthy work-life balance.
By prioritising your employees’ happiness, you can maximise retention, minimise absenteeism, and lower staff turnover. This will save you big time on the costs of recruiting, onboarding and training new people, substantially boosting your bottom line.
Traditional leased offices will be an empty shell when you move in. You’ll have to spend time and money fitting out the space with furniture, utilities and other overheads that need sorting.
With a coworking space, everything’s ready when you arrive so you can hit the ground running and be your most productive self. The Wi-Fi is raring to go, the printers are full of ink, the conference rooms are set up for video calls, and the kettle’s always on.
That’s it! No pricey office fit out; plug your laptops in and get going. This setup is super beneficial if you’re looking to reduce upfront costs.
Finding an office in a prime location can be a total headache and pricey. You want a central location with handy transport links, things to do nearby and a place you know your team will love working.
This comes at a price. But it doesn’t have to be that way.
Shared office spaces are often found in the top cities to do business and the coolest neighbourhoods. And, as we’ve mentioned, coworking spaces keep overheads low thanks to an all-inclusive monthly fee.
Suddenly, those sought-after locations in London and other major cities become way more affordable. So, you can snag your favourite spot to set up shop without having to compromise.
Enjoy the coworking benefits with Work.Life
Managing your money as a start-up, freelancer or SME is essential, and coworking spaces provide this luxury.
Work.Life coworking offers flexible, well-designed space across London and beyond, including hot-desking and private areas to suit any needs. And let’s not forget perks like unlimited tea and coffee, wellness events, networking and weekly socials.
Check out our coworking options here!