If you are a small-to-medium sized company owner looking to rent an office space, you owe it to yourself to read this article before you begin your search. We are going to talk to you about long-term vs short-term, and how it is very possible to save a boatload of money choosing short-term.
We are Paddock Place Office Suites, leading the way in the Fort Worth area with affordable coworking space. Call us at 817-439-3224 for more information. But first, let’s talk about saving money.
Traditional office space is going the way of the dinosaur.
If you can remember back in the heyday of traditional business, say twenty years ago, you can recall most cities having office buildings, and those office buildings having dozens of office space for lease and, in most instances, all of those offices rented.
Drive through the downtown section of town, or drive by any of the numerous strip malls, and you would see more office space for rent available, and most of them had waiting lists of prospective renters looking for quality office space.
Those days are gone, and all you need to do, to see the veracity of that statement, is take a drive through your town and look at all of the “for rent” signs plastered in windows.
COVID and an uncertain economy changed the American business landscape and, quite frankly, it is not returning to that heyday. Times they are a’changin’, to borrow from Bob Dylan.
Say hello to the new office space opportunity.
Today, post 2023, a new term is used often, and that term is “remote work.” Companies found, during COVID, that they could operate their businesses quite easily and efficiently with workers working from their homes, and that led to the instant realization that there was money to be saved by not paying exorbitant leases for office space.
The expectation in many cities was that businesses would once again return to the old standard once COVID was under control; in other words, all of those vacant downtown offices would once again be filled. But that hasn’t happened, and that prompted a look for alternatives in the business community.
One such alternative was, and is, shared office space, otherwise known as coworking space. This approach is a “rent when you need it” approach. In other words, office space is rented by the month and not long-term, and the offices rented are rented by different companies as needed.
For example, our own Paddock Place Office Suites cost $550 per month, and that rental fee includes utilities, WiFi, a shared conference room, and a shared break room. You can rent for one month, two, take a few months off, and return to rent again.
Now, sit down and decide if you can make it work.
Obviously, the advantages to this approach are huge. No long-term leases. No purchasing of office equipment. No huge utilities bill. Have the employees work remotely, and when you do need to meet them for a conference, simply reserve the conference room for a meeting.
Can coworking space work for you? If you have a tight budget, and the nature of your business is such that employees do not need to be in a central office to complete their jobs, then the chances are excellent that coworking will work for your situation.
Sit down and give it some thought. There is money to be saved.
A final word about Paddock Place Office Suites.
Paddock Place Office Suites is locally owned and operated and is located in the Fort Worth Design District. Give us a call today and we will give you a tour of our coworking space.