Coworking spaces are a feasible alternative for a corporate headquarters or centrally-located business address. They are so much more affordable and practical compared to a traditional commercial office.
Keeping expenses low is a good business practice, especially if you are new to the industry. If you need a command center or an office but do not have the means, energy, or time to spend on administrative duties when managing an office, then coworking spaces are for you.
The following are the key benefits of coworking spaces and how they can help your business:
- Low start-up cost
Coworking spaces offer individual entrepreneurs and freelancers like you a place to work. This office is fully-equipped and you do not have to worry about the expenses of setting up an actual office.
By having this shared space, it becomes easy for you to operate your small business without the need to compute and distribute funds for rent, office equipment, fire insurance, and other various expenses when starting to manage a business. With coworking spaces, everything you need is included, so it is just a matter of plug and play.
- Flexibility
Don’t worry about the space once your business grows. It is easy to expand a coworking space as you propagate your business. Modify your contract that will suit a business for one person, dual team, or a company of five.
The coworking space you choose should be flexible enough that can accommodate up to 15 people or has a huge conference room for a massive group. It must also have booths, lounges, stand-up desks, and even mailbox services.
- In the heart of the city
Your potential clients will not find it difficult in finding you when you work in coworking spaces. You will be centrally located within the heart of the city.
If you’re renting your own office, you may have to sacrifice locations for a more affordable rent. However, if you choose coworking spaces, your office address will be at the city area. This means, you have easy access to transportation, coffee shops, gym, and more establishments. Likewise, your potential clients within the city area can easily come to you.
- Networking opportunities
Coworking spaces are filled with goal oriented, determined, and high-achieving people. This can be an opportunity to establish network with various entrepreneurs including cutting edge thinkers, small business owners, and professional freelancers.
In addition, being a member of a coworking community signifies that you will be confined close to potential clients, partners, or mentors. Moreover, you can outsource great talents who can assist you with urgent tasks or specific projects.
- More effective, work-life balance
You will never experience an “all work no play” phenomenon in a coworking space. In fact, they encourage a work-life balance by providing programs and venues to recharge and de-stress after a day’s hard work.
Moreover, coworking spaces have various health and wellness activities, and weekly social events for all members. Most coworking spaces also have a space for meditation in the event that you need to be alone, or just need to take a nap.
Conclusion
Coworking spaces create a mindset and energy which you can only get from interacting with fellow diligent workers. Further, Arro HQ is a flexible coworking space that encourages a healthy work-life balance and helps entrepreneurs become more productive.
Author’s Bio: Lulu Reid is the Community Manager at Arro HQ Business & Innovation Hub. Living in Torquay, Victoria Australia, Lulu lives a healthy and active lifestyle by the beach with her husband and 2 kids. After having a successful career in the architectural industry Lulu and her husband Simon have created Arro HQ, a co-working community in Geelong that encourages collaboration and friendship for business owners in the greater Geelong region.