In this article, we will give you a brief overview of what coworking space is, and then we will present our argument why we believe it is the best approach for a small business.
We are Paddock Place Office Suites, and coworking space (shared office space) is our business. Call us at 817-439-3224 for more information and to arrange for a tour of our coworking space located in the Alliance Area of North Fort Worth.
What is coworking space?
To understand what coworking space is, it might be easier to understand, first of all, what it is not. It is not a traditional office building or office space in an office building. It is not a stand-alone office rental in some strip mall. It is none of the things we have always associated with the traditional office.
What it is, well, is the traditional whittled down into a shared office community. Think traditional office, but one shared with several employees from various, unrelated businesses, or several small business owners sharing an office.
This is not a long-term lease. Shared office space can be rented by the month, or by several months, with no long-term commitment at all, and therein lies the huge advantage for small businesses . . . it is much less expensive and fits within practically any operating budget for any small business.
What does coworking space cost?
Let’s take our own Paddock Place Office Suites for an example. We will share our price structure with you; obviously, we cannot speak for other coworking space in other cities, but it will give you a working knowledge of what to expect.
Coworking space at Paddock Place Office Suites begins at $550 per month. Included in that price are utilities, WiFi, a private mailing address, a shared break room, and a shared conference room. Our office space is already furnished. In fact, everything you would want, and need, in a traditional office can be found in our shared offices. The only difference is you are sharing that office with someone else, a fact which keeps the rental price low for you.
Smaller is better for smaller businesses.
The advantage of this arrangement should be obvious. Instead of paying $1500-$3000 per month for a private office space for rent, plus paying for utilities, plus paying for furnishings, plus paying for signage and other incidental expenses, all you pay for coworking space is the rental price for a month.
$550 or $3000 per month? Which makes more sense for a small business just trying to build a firm foundation? If you are a small business owner, you need to ask this very simple question: Do you really need a full-time office? Do you really need to take on that kind of monthly expense?
For a small business owner, this word of advice: Keep it simple, and don’t take on expenses which are not absolutely necessary.
A final word about Paddock Place Office Suites.
Paddock Place Office Suites is locally owned and operated, and you can find us in the Fort Worth Design District. Call us for more information and to arrange for a tour of our shared office space.