Cost Comparison: Coworking Space vs Renting Office Space

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When planning to start your business, the first thing that comes to your mind is where to start your work from. Choosing the right location for your workplace can be a daunting task. Most of you might prefer to choose your home as it is the feasible and comfortable one. Other than this, you also have the option of renting an office space. But if you are opening your startup, renting office space in the initial stage may not work out. In this relation, there are facilities of membership offices which are also known as co-working spaces. But it should be known that cost plays an important role when it comes to choosing between coworking spaces and your own office space in your house.

There are several reasons for choosing coworking spaces compared to normal office spaces. Coworking spaces are diverse, unlike others that restrict employees within the four walls. Coworking work culture gives you the opportunity to mingle with people belonging to different fields. This helps to grasp a better insight into other fields and build a good connection, other people.

On a contrasting note, working in your own office space will not give you all these opportunities as you will be working all alone from the comfort of your home. However, it is seen that the coworking work culture helps you to develop a good personality and get to learn a lot of things from a supportive environment. It will also hone your creativity and help you become more innovative in your workspace.

How location plays an important part?

For your own office space, you need to analyse your budget effectively that will help you to get your desired amenities in the office space. On a contrasting note, in coworking spaces, you do not have to worry about finding the right location. In addition, you need not have to deal with dealers or brokers in choosing the right location. However, it can be said that coworking spaces win in this case over your own space as it helps to save both time and money to find the right workspace.

Details of the costs involved in choosing the right workplace

In case of your own office, you have to spend money on deposits and rents that might vary from time to time. But it should be known that the initial investment is high. Compared to this, a coworking workspace is already found ready to start your work. Both for individual and small-sized entrepreneurs, the coworking space is kept ready, and you will only have to show your expenses. In this way, the coworking space is the best option as you are able to save a lot of maintenance cost.

Similar to the maintenance cost, the interior cost of the office is also involved. In the case of coworking spaces, no vendor coordination is involved, and the interior designing is already complete before you enter the space. The space is kept ready for you to start working on the first day. But for the interior maintenance of your own office, you have to go through whitewash, furniture, plumbing, electric fittings, cleaning and more. In this way, you will be able to save on the maintenance cost.

How printing involves expenses in office space?

In a coworking space, you have an option for colour and black and white printing that comes with a professional level finish in the printings. You can avail instant printing service, and you do not have to pay anything for the set up other than the printed pages. But in case of your own office, starting from buying the printer, printing sheets, you have to spend all the expenses. This will also include a constant maintenance cost.

Sanitation costs

Much like the printing costs, the sanitation cost is also involved, and it is seen that you are able to save money when it comes to coworking spaces. In the case of your own office, the sanitation cost varies from time to time. The washroom service in a coworking space is cleaned along with its equipment. These are taken special care off since a lot of employees are working together in a shared work culture. When running the office space in your house, you will not be able to manage how people are using the washroom, and this is sure to make things messy.

How is security important?

Security also involves cost both for shared workspace and maintaining office space in your home. Starting from employing security guards, maintaining CCTV cameras and others will be at your service when it is a shared workspace. In case of your own home, you have to spend on CCTV cameras, security man, night watchman, and others.

Other than the security expenses, biometric and attendance expenses will also be included when it comes to operating office space in your house. But in a coworking space, all these services will be installed when you start working.

Internet costs involved

Internet services for your own office can be a difficult task. It will also include LAN problems. Unlike this, the internet costs involved in a shared workspace are less. The internet connection has a backup system to enjoy the hassle-free connection. You get better and stable internet connection services in a shared workspace. Thus, you will be able to save the initial cost involved in installing the internet connection.

The Closure

Thus, all these cost involved factors will help you to find the right choice when it comes to choosing between shared office space and your own office space. It is clearly discernible that coworking spaces in Bangalore are convenient to avail and provides plenty of advantages compared to own office space. Also, when it comes to hosting official events, the coworking space is beneficial compared to your own office space. Therefore, a shared work culture provides the best work culture, and you get to interact with a host of other employees compared to a work environment in your own office.