Are coworking spaces expensive compared to traditional office spaces? Read on to find out!
When we think of coworking space, we will imagine rooms with cosy sofas, large fancy tables and luxurious break rooms. With these images in mind, you may think, coworking spaces must cost a great deal; with a deluxe workspace, it will come with premium prices, right?
However, it may not be as expensive as you think.
In fact, coworking spaces can be more cost-efficient than a traditional office with its range of benefits!
The benefits of coworking spaces
The price of coworking spaces are often misconceived; after all, it’s the renting of a fully equipped office. However, knowing the benefits and amenities provided can help you to break down the cost of renting a coworking space.
In fact, it may even be cost-efficient for your company in the long term. Compared to renting a large unit, renting a coworking space is definitely a more economical option, especially for businesses with small teams. It gives you the flexibility to expand your company without the fuss and worries of paying for unwanted space and utilities.
From the flexibility, benefits and amenities, these are the advantages that come with coworking spaces.
1. Coworking spaces provide much more than just a work space
Coworking spaces aren’t simply a substituted workspace for business operations; it’s much more than a traditional office.
With designated workspaces, equipped break rooms and high speed wifi, coworking spaces encompass the functions of a traditional office and much more. Common office facilities aside, coworking spaces come with extra comforts, designed to maximise efficiency, they come with a series of amenities catered to establish a comfortable, productive environment for you.
Furthermore, with coworking spaces, it creates opportunities for networking with others within the community; you’ll be able to broaden your business circle sharing a space with a congregation of other business partners and potential clients.
When it comes to evaluating cost, it is crucial to know what exactly you’re paying for; so, what exactly does a coworking space encompass?
The Library at Arcc Spaces One Marina Boulevard serves as an alternate meeting space for casual discussions, brainstorming sessions and presentations.
2. Amenities & services
To create a workspace conducive to nurturing creativity and inspiration, coworking spaces provide a myriad of benefits that ensures maximum productivity.
Naturally, different coworking space providers will offer different services and amenities, so it ultimately depends on what you’re prioritising.
From premium customer services to luxurious break rooms, you’re bound to find one that fulfills your company and employee’s needs! With hybrid working becoming the new normal, check out more about whether coworking spaces are worth it for your organisation.
A massage room in Arcc Spaces One Marina Boulevard provides members with additional wellness benefits at work
Coworking space providers generally provide businesses workspaces in central business districts which are often pricey to rent in the traditional office setting. By renting coworking spaces, you’ll be able to set up your office in a prestigious location, allow easy accessibility for you and your employees and enjoy the surrounding amenities that come with a central location, all at an affordable cost.
The Beverly Suite at Arcc Spaces Suntec Tower 2 overlooking the Central Business District
4. Established Offices
With coworking spaces, everything is laid out for you.
There’s no fuss over furniture, utilities, renovation or maintenance; essentially, all the hassles that come with traditional office space are part of the package when renting a coworking space. Coworking space comes with flexible plans; compared to traditional offices, there’s no need to pay for the lease even when you’re not using the space. Especially during the pandemic where work from home and hybrid working has become more prominent, office spaces are used infrequently, yet businesses still have to continue to pay for the rent. Furthermore, office rents in Singapore have increased even during the pandemic, amplifying the cost to lease out a space that’s hardly used.
With ready-made spaces designated to induce productivity, all you have to do is simply select your preferred arrangement that suits your working style and preference for the optimised work conditions.
Furthermore, with various carefully crafted layouts to create a conducive working environment to select from, there’s no need to fret over a reorganisation of furniture to optimise your office, which will lead to even more expenses.
Therefore, with the exemption of maintenance, renovation and other expenses that comes with running a traditional office, it is definitely more cost-efficient in the long run for small businesses to rent a coworking space!
A fully furnished suite at 75 High Street by Arcc Spaces
Coworking: A new working experience
Ready to experience the convenience of premium coworking spaces in Singapore? Start your journey with us by selecting from Arcc Spaces, pick your plan, choose your preferred workspace for rent and leave the rest to us!