Japan has successfully developed shared spaces for persons needing a room in which to eat and sleep, housing individuals with only a cot and eating utensils. The clientele insist they are comfortable and save enormously on cost of living.
In the Western civilization, shared office and/or work space has given a new life to the concept of sharing costs to increase comfort and productivity.
Bottom Line Cushions
1. All firms envy flexibility that shared office spaces offer to bottom lines and also in lessening supplies and utility expenses. Whenever a business requires dedicated office space, it runs into 2 to 3 year lease requirement. If your company has a goal of doubling personnel within a year or so, you face having to lease smaller spaces now and be inconvenienced when your headcount does grow as anticipated. In the alternative, you will lease larger space and then absorb the additional costs for having unutilized space. Co-working is a solution to help avoid guesswork since they have flexible lease contracts and the option each month to update the lease terms so they properly meet business needs.
2. Within the quarters of shared space are many ways and means to save money instead of leasing a traditionally sized work place:
- Shared Utilities
- Shared WiFi services
- Shared janitorial, cleaning service
- Community coffee, snack machines
- Shared procurement of common office supplies
The Argument for Traditional Work Space
Co-working spaces are for businesses with less than 10 employees. If larger, you should rent your very own office, as there are savings in renting permanent space. You will spend more buying furniture and supplies, but may save on rental costs. Another pressing difference is privacy.
Located near Times Square’s high end businesses, Workville melds together elegance found in Trump Tower with the efficiency and expertise of a major university facility, much more luxurious than possible if rented singly. The appointments and accommodations are cosmopolitan and convenient for expediting work projects.
Costs Less Than 10%
The cost of a single office in the area of Times Square offices would cost ten times the cost of co-work space. One could share with only one other company and reap the shared costs 50%, but the best business plan is to co-share with other companies for 10% of single office cost.