Real estate is one of the aspects that many companies overlook when performing an initial assessment of their costs. Instead, they rightly concentrate on cost of revenue and their gross margins. While these are of course major components of their business that a company’s management should focus on, real estate transactions have a way of being significant and potentially damaging for a business. A great option for many businesses to avoid these large financial commitments are shared office spaces.
When companies buy or rent property for their office space, they are making a commitment to use the space that they are occupying for the length of time that is defined in their office lease agreement. Many landlords will require a lengthy lease term which can be a significant commitment for a company, particularly if they are still in their startup phase or are looking to expand to a new market. In addition, the costs of occupying, renovating, and leasing office space can be quite significant for lessees and make up a big financial commitment as a result.
To avoid these major financial commitments, companies are increasingly turning to companies like Workville or other similar companies which offer companies the ability to lease office space under short-term office leases that don’t involve the major commitment noted above. Workville locations are commonly located in places where businesses want to congregate and are often located near city centers, public transportation, and near concentrations of other businesses. That makes the office spaces that Workville and other similar companies occupy more attractive to a business, and also more affordable as the company using Workville will only use the portion of space that they
The popular coworking spaces throughout NYC show that there are other major benefits to using companies like Workville. Workville handles many of the tasks that a company would have to hire someone for such as front desk, kitchen restocking, and even secretary like duties. While there is a charge for these services, the costs are significantly less than having internal staff member handle them. As an added benefit, using a shared office space like the one provided by Workville will allow a company’s management to concentrate on those tasks that are essential to running their business such as growing their revenue base and managing employees rather than handling their real estate. For modern businesses, shared office spaces just make sense.