This article is for those who may not know what coworking space is, or who know what it is but do not know the specifics regarding coworking space. We believe it to be a great option for small business owners, home-based business owners, and traveling executives looking for a professional workspace on a tight budget.
And, we should know. We are Paddock Place Office Suites, offering outstanding private office space at a fraction of the cost in the Fort Worth area. Call us at 817-439-3224 for more information about our coworking space.
A look at traditional office space and its cost
If you have already spent time looking for a traditional office space for rent, you are well-aware of the cost associated with it. You need to make a twelve-month commitment. The average office space for lease costs somewhere in the neighborhood of $1500-$2000 per month. There will most likely be a damage deposit. You will need to pay for furniture for the office, pay for monthly utilities plus WiFi, and pay for insurance. Add in the cost of signage and other miscellaneous monthly costs, and it is not an exaggeration to say you will need an outlay of cash somewhere in the neighborhood of $5,000-$10,000 before you ever open your doors for business.
That, friends, is a hefty chunk of change for a small business owner with a small budget, and it is way beyond the realm of possibility for an executive, in town for a month or two and desperate for a quiet, professional place to call home for a short-term basis.
A look at coworking space and its cost
Now, consider coworking space. Using Paddock Place Office Suites as an example, a private office space can be rented for as little as $550 per month. Utilities are included, as is WiFi. You will have a private mail address/box. It is a professional setting, and it includes a conference room and break room. There is no cost of signage because it is not your property. There is no cost of furniture because furniture is provided. There is no need for insurance for a temporary space.
For a fraction of the cost of renting a full-time office in a traditional office setting, you will have a professional coworking space to work from, and you will only pay for the time you need it. No long-term commitments.
Is it any wonder that coworking has become so popular in today’s business world?
The only other consideration before making a decision
The only other consideration is this: can you work in a coworking environment? How are you with working in a transitory community of other business executives, from different companies? How are you at sharing a break room? How are you at being in close proximity with others. Most of our clients love the shared spaces and the ability to share thoughts with like-minded people but, admittedly, it is not for everyone.
A final word about Paddock Place Office Suites
Our suggestion: go to a place like Paddock Place Office Suites, rent a coworking space for a month, and test it out. There is no long-range commitment. One month will be all it takes to see if that type of working arrangement will work for you. If you are not comfortable with it, you always have the option of renting a traditional office space.
We are betting, though, that you will find coworking space to be an outstanding option, especially if you have a small operating budget.
Call us today if you are in the Fort Worth area. We have a private office space for you at a price you can afford.