Could a shared workplace save your business balance sheet?

Updated: Jan 31

Second in this series of blog articles and reason to join a shared office space is to halve your total occupancy cost (TCO).

Whether you rent a coworking desk or serviced office in a modern shared space (aka coworking), your workspace usually comes with full use of the shared facilities for you and your staff to enjoy.

This is a major benefit of coworking spaces, that provide an unbeatable sqm occupancy cost, when compared with leasing your own office.

If you include the shared facilities like cafe area, designer kitchen, Koru style lounge area, meeting rooms and boardrooms, spa like bathrooms and showers, video conference suites and phone booths, your superb workspace can cost as little as $45 per sqm for a private serviced office, and even less for a co-working desk. And this rate will usually include all your outgoings (like rates, maintenance and landlord insurance) and most of the OPEX items like IT and networking services, power, cleaning, rubbish, office and kitchen supplies and so much more.

Some things like meeting rooms, printing and parking may be chargeable - this is worth checking out. List of Hawkes Bay coworking spaces

Now consider your office lease rent accounts for only around 1/3rd of your total cost of occupancy and you can start to see there are some hidden costs in leasing your own office. Costs that you may not understand upfront, but will be locked into for at least three years, sometimes much more. See how this can really hurt your business in the further reading below.

So before you make up your mind between leasing your own office, or renting in a shared space, have a look at our analysis of the total cost of occupancy (TCO) involved: Leasing comparison

Further reading:

What can happen when you are locked into a lease

How a lease can prevent you selling or growing your business

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