In the world of business, savings can be just as important as profits. There’s no thrill like optimizing your bottom line with strategic spending, and no feeling worse than realizing you’ve been burning cash you could have either saved or spent elsewhere for more value.
When it comes to real estate, innovative firms like Common Desk have found a way to turn office space for rent into a trove of added value for your investment. They provide coworking spaces, or an office rental model which focuses on communal working environments where interaction with neighboring companies is the norm.
For those just learning about the concept, here are three money-saving reasons why they’re well worth a closer look.
- The Amenities Pay for Themselves
The clearest example of coworking spaces maximizing their ROI is the sheer number of amenities and extra features they tend to offer. Whether it’s as simple as all-day free-flowing coffee, or as substantial as an in-house gymnasium, there’s a trend among coworking space providers of raising the bar for office rental all across the board.
This eliminates the need for a business to think too hard about how they can boost employee morale in order to raise employee health and productivity in the process. Coworking spaces take the initiative to provide its tenants with a unique workplace experience, eliminating costs associated with low employee satisfaction.
- They Boost Your Productivity by a Mile
From as long as anyone can remember, businesses have been occupied with trying to maximize their productivity. Coworking spaces have figured out that one highly effective way to get people to work harder is to raise the overall productivity of their immediate surroundings. By tapping into an innate sense of competition and urgency, the diverse collection of professionals found in any given coworking space generates an atmosphere conducive to meeting deadlines and inching closer to the next big project milestone.
Businesses which choose to go the way of coworking won’t have to fret about spending on specialists to maximize their efficiency, instead being able to rely on their own set of managers to ensure that their company makes the most out of the favorable set of conditions for boosting employee output.
- Networking is as Simple as Looking around the Room
Conventional wisdom dictates that a company needs to devote a slice of its resource total to networking. Promoting one’s business goes deeper than advertising to customers, after all, as making the right connections within your industry can lead to more profitable deals and lasting partnerships.
That having been said, coworking spaces put your company within arm’s reach of local freelancers, professionals, entrepreneurs, and experts. While it’s hard to put a dollar value to what the right connections can get you in terms of serendipitous deals and partnerships, consider the immediate gains of having an easy link to the knowledge that their years of experience, successes, and failures. Best practices, cautionary tales, and points for self-improvement are available at the drop of a hat for a business with the savvy to take advantage of its proximity to an accessible network.
Businesses live and die by their ability to squeeze the most value for their investments. When it comes to real estate, the limits of conventional office spaces have proven themselves time and again. Spare some thought for what many businesses have already realized: that the future of the workplace is here, and it’s very friendly to your books.
