Coworking Saves Money Where You Least Expect It

coworking

If you’re self-employed or you run a small business, using a coworking space might be the perfect way to enhance your business and save money at the same time.

What is a Coworking Space?

A coworking space looks like any traditional office space. There are desks, chairs, walls, and cubicles. The only difference between a traditional office and a coworking space is that the workers in a coworking space come from several different companies.

Smaller businesses (generally between 1 and 3 people) can reap many benefits from taking advantage of this kind of office sharing. If you’re self-employed or a small business owner, here are 5 reasons you might want to consider switching your business to a coworking space.

1) Monthly Cost is Significantly Cheaper

Instead of paying thousands of dollars per month to house a business at a full office, small business owners or self-employed persons can save thousands of dollars per year by joining a coworking space instead. For example, Elevate Coworking charges as low as $99 per month to be a member—something that would be impossible to find in a traditional leasing scenario.

Because every business owner shares the monthly lease cost of the office space, prices for coworking spaces are generally much lower than prices for renting a small individual office space.

2) Free Conference Room Access

If the coworking space you join has a conference room, you’ve got a built-in free space for meeting with clients or employees.

Renting a conference room at a hotel or office building often costs upwards of $35 an hour. By coworking in a space that has a conference room, you can have a professional space to meet with clients that won’t break the bank.

3) Save on Printing Costs

Many coworking space leases include free access to printers. This means that your business will no longer have to pay for printer ink, paper, and printer maintenance.

By cutting out these oft-expensive costs from your business, you’ll have more profit to show at year’s end.

4) Save on Internet Costs

Internet access can easily cost over $100 a month for small businesses. Free internet access is another great perk that comes with many coworking space leases.

And because the coworking space owner or management is responsible for providing internet access at the office, they deal with repair calls to the internet provider as well. Time is money, and coworking spaces help you save time on logistics.

5) Free Coffee

Another common benefit provided by coworking space management is access to free coffee. With coffee shops charging an average of $3-$5 per drink, your coffee habit can easily take a big slice out of your monthly profits. In fact, the average coworking space cost is equal to having 2-3 cups of coffee per day, so free coffee is doubly beneficial.

The more coffee you drink, the more money you save by using a coworking space.

There are many costly expenses for business owners who choose to lease an entire office space to house their business in. If your business is small enough that it doesn’t need an entire office space, or if you are currently working from home but need a more professional space to work in, it might be time to consider utilizing a coworking space.

If you’re interested in finding a coworking space in your area, simply google search “coworking space near me” or check a platform like Share Your Office for the perfect solution for your coworking space needs.

[Guest Author Bio: Deacon Hayes is the owner of Elevate Coworking, which offers low cost coworking space to those in the Phoenix area.]