Starting a business in a new city can be exciting. However, it comes with many considerations like finding the right location, setting up the office space, hiring qualified staff, and more. All this requires a heavy capital investment that consumes most of the budget.
Coworking spaces provide the right environment for setting up new offices in less time and at a fraction of the traditional office setup costs. Due to the pandemic, many businesses have already started altering their working models and adopting coworking spaces for business operations.
Did you know that there are currently around 1000 coworking spaces in India and this number is expected to quadruple in the coming years? The reason for the immense growth of coworking spaces is the world-class amenities and flexibility it provides.
Coworking spaces are much more cost-effective than traditional offices. They offer the right infrastructure and amenities required to run a profitable business. As many businesses and professionals work under the same roof, coworking spaces are breeding grounds for fresh talent and networking opportunities.
This article will share how coworking spaces can help you establish your business in a new city.
Setting up a new office is usually an expensive affair. Renting the office space, furnishing the entire workspace, setting up the internet, and stocking up the pantry can take up a significant amount of the budget. Coworking spaces relieve business owners of the capital investment needed to set up a new office space.
Coworking spaces offer a cost-effective pricing solution via monthly or yearly membership plans. It frees up the capital for investment in other areas of business, such as sales, marketing, and more.
Further, these spaces are usually located in prime locations of the city that are easily accessible with convenient access to transport, restaurants, shopping malls, and more.
When a business sets up an office in a new city, the team usually starts small and grows over time. Coworking spaces give companies the flexibility to book additional workspaces as the team grows.
An office space speaks about the company’s vision, its goals, and the employer brand. Coworking spaces provide businesses with all the necessary options to customize their space to convey their brand message.
From the interiors to furniture placement, from setting up work stations to meeting rooms, coworking spaces can be designed to accommodate your business requirements. These unique personalizations help in enhancing the ambiance of your office space significantly. Coworking spaces like The Address also provide fully-serviced offices with the right amenities that adapt to your unique brand identity.
Check out how The Address designed a private custom office for one of its clients, Growfusely. Here are a few pictures of the office space designed according to their brand vision.
Coworking spaces provide an ideal working environment that improves employee productivity. The office spaces are designed in a way to ensure it motivates the employees, boosts their morale, and increase team collaboration.
The fully-furnished and ready-to-move-in offices offer all amenities, starting from comfortable work stations, high-speed internet connection, conference and meeting rooms, recreation zones, kitchens, and more. Some coworking spaces even offer cafes, on-site gyms, child care facilities, and nap pods to the members.
The chic and modern designs and relaxed and professional working environment contributes greatly to the better physical and mental well-being of the employees. This, in turn, ensures an increase in productivity. The motto of coworking spaces is to provide an innovative environment by creating an energetic and vibrant ambience for the employees.
Take a look at the amazing office spaces offered at The Address.
Running a traditional office space involves various operational costs, such as hiring office staff like janitors, office managers, and others, ensuring 24*7 power supply and internet, office security, and much more. Coworking spaces keep business owners away from these operational headaches and free up their time to focus on business growth.
The responsibility for the maintenance of the office spaces is borne by the coworking space providers. This includes the upkeep of physical and technical aspects of the spaces, such as cleaning, internet connection issues, power supply, ventilation, and more.
By taking away the burden of office operations, coworking spaces offer business owners a cost-effective solution to set up and run their companies in a new city successfully.
Networking is essential for the success of every business, regardless of its size or the industry it caters to. Coworking spaces are used by a growing community of small businesses, startups, entrepreneurs, freelancers, and digital agencies. It offers plenty of networking opportunities that can be beneficial for businesses.
Coworking spaces offer businesses opportunities to connect with the right individuals and collaborate with them for business growth. For example, if you are a SaaS company, you can collaborate with a content marketing agency to handle your product’s content and SEO efforts. You can also promote your product to other companies working from the same coworking space.
The shared workspaces also organize various social activities, such as happy hours, networking events, wellness events, seminars, launch parties, and more for the business community. Leverage these events to connect with like-minded individuals and widen your network in the new city.
For instance, The Address has organized numerous events, such as International Yoga Day, health insurance presentation, and more for its community. Here is a quick peek at these events.
Finding the right talent and retaining them is one of the major challenges most companies face today. It gets more challenging when a business is setting up an office in a new city. Hiring the best local talent consumes a lot of time. Coworking spaces, being the second homes of many freelancers and talented professionals, can help businesses in hiring the right candidate for the team.
Further, coworking spaces are a hub of digital agencies, small businesses, startups, entrepreneurs, and more. It offers businesses a huge network of like-minded individuals for advice, suggestions, and creative ideas. Businesses can outsource certain tasks or functions to these individuals and leverage their domain expertise for business success.
For instance, a SaaS company can hire a freelance content writer having SaaS writing experience to write articles for its blog. Likewise, it can also hire a design agency to design product mockups, illustrations, social media posters, and other design assets.
Setting up an office in a new city is a big leap for businesses. Choosing the right location, setting up an office, hiring staff to manage it, and more can be daunting for most business owners. However, this time-consuming process can be eliminated by investing in a coworking space.
Coworking spaces offer high-quality and highly efficient workspaces that help businesses set up their offices in new cities without any hassles. These spaces are designed to nurture employee productivity, boost employee morale, and streamline business operations. If you are looking to establish an office in a new city, opt for coworking spaces today and focus on what’s important i.e. growing your business.