Coworking spaces are often synonymous with tech-minded startups and solopreneurs, but it turns out that the concept is also ideal for solo lawyers and small firms.
As coworking spaces are becoming more mainstream and their benefits more widely recognized, solo law firms should consider holding their current office setup in contempt.
How Coworking Reduces Overhead for Law Firms
A coworking space is ideal for professionals who want good visibility but don’t need a lot of space to do business, and solo lawyers and small firms seamlessly fit the mold.
Rather than pour money into a traditional office space in a high-end district and take on the costs of furnishing and maintaining the office, lawyers pay only for the space they need. Here’s a quick look at the benefits coworking provides while slashing overhead costs.
Good Location
Coworking makes having a professional office affordable. Solo lawyers can compete with larger firms by planting themselves in a high-end area without having to pay a premium price for real estate.
Administrative Support
Most coworking spaces offer secretarial or administrative support, such as answering phones, taking messages, or greeting clients. This can be especially beneficial to your credibility if you don’t already have a paralegal or secretary on your payroll.
On-Demand Meeting Spaces
Having your own meeting space in a traditional office can be expensive. Not only do you need the right furniture and equipment, but you’re also paying for that extra square footage, even when you’re not using it.
If you’re working from home, your kitchen table may double as a conference room more often than you like. Meeting in a local coffee shop doesn’t offer much confidentiality, and renting meeting space at a hotel can be expensive.
Most coworking spaces offer on-demand meeting rooms for client face time. In addition, some coworking spaces may have video conferencing technology so you can depose clients remotely. It’s a major time-saver and convenience to have a conference room on-site versus meeting at your home or trying to find a space on short notice.
Private Office Space
Coworking isn’t just about shared desks and open floor plans. Most companies offer private office space for rent to maintain confidentiality and provide your clients peace of mind.
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One Predictable Fee
With a private office space in a coworking building, you pay a single fee that covers the office, utilities, internet, and any optional services (e.g. mailbox, admin, meeting room, etc.). You never see a separate bill for maintenance, fluctuating electricity costs, building repairs, or other little costs that can eat into your profits.
This alone builds predictability into your monthly business budget. If you’re making the switch from a home office, it can help you separate business and home expenses with confidence.
A More Desirable Cost of Doing Business
Both the traditional office and working from home have their drawbacks, particularly when comparing overhead costs. Coworking helps you enjoy the benefits of each in addition to providing a cost-effective alternative that can help you grow your law practice.
The key is to find the right space to fit your needs with the right community of people who will contribute to the professional image you want to project. Find the Office Evolution location nearest you and schedule a tour today.