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Startup founders often prefer to work at home-based offices to save on overhead costs. While that’s an inexpensive option compared to renting a full-fledged commercial space yet a residential setup usually lacks the professional environment of a typical office. And, absence of professional setting might affect productivity big time. Thus many smart budding entrepreneurs today avoid the home-office structure and rather opt for a co-working space. One of the major benefits of co-working space is that it can save up to 75% in overall costs for your digital marketing startup- or for any startup in that case.
How do you save so much with a co-working space? Well, such office setups usually offer all the major utilities and appliances to run an office, completely free of cost. These include internet, printers, scanners, desks and chairs. Now, you certainly have to share the amenities with the existing co-workers but that’s trivial when you are getting the important stuff for free. Moreover, some of the co-working spaces even offer a full-stocked kitchen with water, coffee and myriad necessary kitchen supplies.
Then, you will even get shared conference rooms at a highly affordable cost. There are co-working spaces which offer meeting rooms on pay-per-use basis so that you only have to pay when you need it.
However, cost-saving is not the only benefit of opting for a co-working space for your startup. There are many other amazing reasons as well that prove why co-working space is great for startups.
With traditional office leases, you are usually tied to longer term agreements which force you to wait till the lease expires. Thus, in case you are facing a downtime in your business and want to move to smaller location with a smaller team- you cannot move out immediately. You have to go on paying the rent for a bigger space for years even when you are unable to afford it for the time being.
But co-working spaces usually carry shorter lease terms compared to lengthy leases on independent commercial settings. You will get month-to-month as well as 3 or 6 month contracts. So, you won’t have to wait for years for your lease to expire when you are planning a shift to another location. You can always move out to a new location easier & faster if your business expands -or when you are planning a downsize and need a smaller space.
There are office space finder sites online from where you can look for your co-working space at your preferred location.
No maintenance hassles
Shared working spaces relieve you from maintenance hassles so that you can concentrate properly on your business. With a conventional independent office space, you have to take care of infrastructure, cleaning, decoration, security and many such menial assignments. It rips you off the needed time to devote to your production, marketing and other important tasks which demand your constant attention. But when you move to a co-working space you get a readymade setup where you won’t have to bother about such mundane stuff. Consequently, you get more time to work on scaling up your startup to greater heights.
Great networking opportunities
Co-working spaces also assure amazing networking for startups. With shared spaces, you have the great opportunity to interact with a bevy of many other professionals on a regular basis. The bond will go much beyond than just exchanging business cards. You will be able to establish a deeper mark here as you would be constantly meeting each other, sharing discussions over coffee -and might end up exploring new partnership ideas while playing a hand of TT.
Finally, working in shared spaces with so many dedicated professionals also motivates the new entrepreneur to work harder towards his goal.