Is the cost of your office space stealing too much of your budget? Having a home for your business is usually the single biggest cost of doing business when you consider all of the overhead with which it comes. Aside from the monthly rent, you also have to pay for the initial buildout, furniture and decor, utilities, internet, and all the other little moving parts that make up an office.
One of the biggest challenges for businesses is choosing a space that meets your current business needs but can also provide for the future. If you go big early, you’ll be footing the bill for space you’re not yet using, or may never use if you don’t grow as much as you’re expecting.
Cost-conscious companies need to scrutinize every expense. A fluctuating electric bill or a water leak can topple your finances and set you back even further from your goals. Plus, if you do need to add to your workforce, you’re either forced to make room for them or upgrade to a bigger office, both of which come with their own major expenses.
Instead, it can literally pay to consider a coworking space that eliminates many of the costs of the traditional office. With a single fixed monthly cost instead of multiple fluctuating expenses, you gain better control over your budget and can ultimately do more with less. Learn more about how to leverage flexible workspaces here.
Written by: Office Evolution Ontario
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Office Evolution has more than 70 locations open, 140 units sold in markets across the country and is poised for further growth as the demand for affordable and safe, workspace close-to-home continues to rise.