7 Business Benefits of Using a Co-Working Space or Executive Suite
If you’re a solo entrepreneur, working from home may be the cheapest option. But domestic distractions and loneliness make it untenable for some. It’s also not practical if you want to expand. For a small business, traditional office space is often too expensive and can require years of commitment. Executive suites and co-working spaces can offer a more affordable and flexible alternative with many baked-in benefits.
Here are some of the perks you can expect with a shared office space from a couple of the companies that offer them.
1. Cheaper office space
Co-working spaces, which charge a monthly fee, may mean substantial savings over traditional office space. A business could save 75% in total costs considering that typically a 2,000-square-foot office space for six workers could cost $4,000 monthly, not including supplies or utilities. Compare that with Office Evolution Columbus “Complete Virtual Package” at $249-per-person; a team of six would add up to $1,494 per month, including most utilities and supplies.
With virtual office and coworking options, you have 24/7 access to our shared workspaces (night owls welcome). And when you have a big meeting just schedule one of our conference rooms. Our virtual office services let you dedicate your time where it’s needed the most. Our Live Answering service will screen your calls and then transfer to either a desk phone, cell phone or voicemail.
Only pay for what you use with month-to-month pricing and a variety of options. Browse our locations to find an Office Evolution near you. There’s a better way of working. We can help you find it.
- Live Answer Calls Including: Answer, Screen, Announce and Transfer
- Business Address for your Stationery and Mail Delivery
- Unlimited Drop-In Access to Business Lounges at All Locations
- $60 per month worth of Conference, Meeting Room or Day Office Rental Time
- Unlimited Domestic Long Distance
- Front Office Receptionist to Greet Your Guests
- Free Wi-Fi Internet
But he’s seeing that threshold move upward, with 10- and 15-person companies opting for co-working space to save money.
2. Better office space and location
Executive office suites, which like co-working spaces charge a monthly fee, have been around for decades. They can provide a way into expensive, in-demand spaces in prime areas that new small businesses otherwise might not be able to afford.
Office Evolution Columbus, an office suites provider with two locations in Easton Town Center and Dublin, purchases entire floors in major office buildings, then offers this space to individuals and small businesses on a membership basis. Owner Roland Medrano says if some small-business owners tried to get office space in our kind of building on their own, they’d likely be snubbed because their businesses are too small.
This gives small-business owners access to the types of offices and locations they want.
3. Fast setup
With shared office spaces, there’s no need to do an expensive move — they’ll do the heavy lifting for you. Offices are fully furnished with phones, internet and other utilities already set up. Conference rooms have “plug and play” capabilities, so just bring your computer, and you’re good to go.
4. Free amenities
If you lease your own office space, you’re responsible for paying for utilities, supplies and amenities. With shared offices, utilities such as water and Internet are included, as are other amenities including coffee and kitchen supplies. This reduces costs and some of the details you have to tackle day to day.
5. Flexibility and scalability
Most shared office spaces offer month-to-month memberships, as opposed to traditional office leases, which lock you in for years. Office Evolution Columbus offers different membership levels with private office and open co-working options.
Since you pay a monthly or annual membership for a shared office rather than a long-term lease, you can typically upgrade or downgrade plans at any time. If your business expands or contracts, you can add or remove space as needed.
6. Affordable support staff
While co-working spaces have staff to help members, they generally don’t assist with administrative tasks. But executive suites often have administrative staff on a pay-per-task basis.
For example, at Office Evolution Columbus, reception support and mail services are included with membership. At a shared office space with these offerings, a member can pay for administrative services as he or she goes, bringing significant savings over having a full-time staffer.
7. Networking opportunities
Not all executive suites and shared offices emphasize community, but at Office Evolution Columbus it’s a core value of co-working. With an open floor plan and events for mingling, co-working spaces allow for easy networking. Roland Medrano says many of his members find work through fellow co-workers, in addition to a talent pool suited to small-business owners needing to add employees.
As you decide on your working environment, keep in mind there can be major differences in working in an open space with a group versus working in a private office. Though there’s value to having a community, some small-business owners may find they do better if they have a private office.
Contact us today to set up a tour at our Dublin or Columbus/Easton Town Center, Ohio locations.
Dublin – Dublin.email@example.com (614) 495-9274
Easton – Easton.firstname.lastname@example.org (614) 944-5191