Do you value your workspace?
The enforced closure of offices earlier this year has seen a new generation of remote workers embrace agile work and its associated benefits. Companies that invested in their employees pre 2020 with cloud based systems and effective computing solutions now seem prescient as others wasted valuable time attempting to catch up with effective solutions. Despite this I’m not sure how much people really value their working environment. This is likely to change as the limitations of kitchen table improvising is stretched across the next two months.
Coworking spaces charge a rate per visit and this goes towards covering the costs for the following services.
Heating & Effective Lighting
Business Rates ( particularly relevant in a town centre )
Effective booking systems
Advertising & Marketing
the list goes on….
As a relatively new concept I believe that many business people overlook these outgoings and assume that all coworking spaces are run by huge corporations who make large margins. The new generation of space providers ( including altspace ) actually make small returns and our ambitions are to democratise workspaces. The flexible rates and terms we offer come with a large financial risk to the business owner and many of us rent the spaces ourselves. We’re not property barons.
More established hospitality businesses including hotels and restaurants have a star rating and I sometimes wonder if this could be applicable to a serviced office and venue. We are all unique and have varying service levels. I do object to an effective ‘race to the bottom’ in the sector which is why I’ve personally always favoured fair, transparent prices. Rent free periods in coworking spaces in my opinion can’t work, it’s a conflict with how we trade.
Location is also a key driver of price so please bear this in mind too when comparing office rates. Currently you don’t pay the same for a remote business park as you would an attractive, thriving town centre. It’ll be interesting to see if this levels out as people seek to access the quieter areas during business area over the next 18 months.