Coworking is widely known for benefiting freelancers, independent contractors, and even corporate employees. However, small business owners and start-ups also greatly benefit from coworking spaces and the services they provide.
An Office in Every State
Coworking spaces give you adequate locations for meetings and conferences with potential clients and investors. Established coworking brands will have branches in major cities in the U.S., and you can make use of these as long as you are a member. You can easily hold a conference in New York City today and schedule a meeting with investors in Los Angeles the following week. More prominent coworking brands even have affiliate branches in different countries. This is especially important for businesses and start-ups as they push their brand, products, or services to the broader market. You can even assign or employ staff in several different cities to handle marketing and to open clear communication lines between you and your target market or your investors.
Fast Office Setups
Setting up an office will require several permits, inspections, and tons of paperwork. You’ll also need to cover the cost of maintenance, utilities, normal operating expenditures, furnishings and office equipment, wages, and of course, the massive cost of rent. Coworking spaces get rid of all those problems. You can start working immediately, cutting the unavoidable red tape when renting an office. You get to choose how small or how big you want your operation to be. You can easily downgrade or expand your operations depending on the need of your business. Without the massive overhead of setting up an actual office, you get to keep most of your capital. This allows you to invest more money into your products or services instead of the usual office expenditures. You can even cover your need for professional concierge and secretarial services through your coworking space, eliminating the need for more personnel.
Better Networking Options
Coworking spaces are filled with freelancers and independent contractors who will be happy to assist you in your endeavors. Graphic artists, content writers, marketing specialists — coworking spaces give you access to experts in different fields all in one location. You can hire people for individual projects and not worry about recurring wages or termination fees. Shared office spaces also allow you to build corporate connections through the many coworking corporate employees.
Coworking Spaces as a Business
If you want to try your hand at the coworking business, it’s best to start by partnering with an established coworking brand. You’ll need to invest a substantial amount of capital, but it only takes one to two years to recoup your initial investment. The demand for coworking spaces exceed the number of existing areas, so you won’t lack for members. A coworking franchise is a legitimate turn-key investment. The brand does all the work, and you are free to do other things. Most franchise owners maintain their usual careers and treat their coworking franchise as investments or an extra source of income.
Coworking spaces open wide avenues of opportunity for entrepreneurs and start-ups. They allow you to connect with more people, whether their potential employees, partners, clients, or investors.