Coworking spaces instead of commercial leases

Over the past few months, our Community team have noticed a sharp increase in the types of businesses we’re meeting, from lawyers and consultants, to accountants and service providers. These businesses realise that coworking isn’t just for technology startups anymore, but for businesses of all shapes and sizes.

people coworking

Although early stage technology startups were among the first to adopt coworking, the value for more established businesses has taken longer to develop. We’re so excited to see the breadth of industries in our community growing.

Traditional commercial leasing has been the go-to option for small and medium businesses for many years, but it’s high time that changed.

Coworking offers greater flexibility

Typical commercial leases lock you in, often for 5 years. To accomodate future growth, you’ll often lease more space than you need now, hoping to fill it as you grow. You end up with wasted space you don’t need, but are still paying for. If you exceed your growth plans, you can find yourself in the time consuming (and costly) situation of having to sub-lease your office, and start all over again.

Coworking allows you to take the amount of space you need now, and add or remove as your needs change. Many of the teams at Teamsquare have grown over time, upgrading into larger offices without any of the stresses and costs of moving.

Greater cost-efficiency

When you compare the whole package, coworking is usually a cheaper option. It’s important to remember that your membership fees include all the costs associated with your office space. The rent on your commercial lease covers just for the empty office space – you’ll still need to pay for everything else as well.  Electricity, internet, cleaning, supplies, furniture and IT technology are all included in your Teamsquare membership fee.

Save time and money getting going

Commercial leases take time (often many months) to negotiate, and involve expensive lawyers. When you’re locked in for 5 years, you need to make sure you get it right, and this all adds up to time and money.  A 5 year commercial lease is one of the biggest commercial decisions your business will make.

Coworking agreements are far simpler, and with no lock in contracts, you’ve got a lot less to lose in giving it a crack.

You can tour on Monday and be in and working by Wednesday, with everything ready to go.

Community – built in

When you work in a shared space, you interact with a huge range of people from different businesses each day. Happy hours, free ice-cream on hot days, meditation classes and networking events all make for a more connected experience.

A great community doesn’t pop up by accident.  At Teamsquare, we call it assisted serendipity, and our spaces are specifically designed to help you make those meaningful connections.

Better facilities and amenities

Larger coworking spaces have facilities and amenities you otherwise may not be able to access. Great coffee machines, rock solid internet, connected meeting rooms, front desk staff to greet your visitors, social activities, community events and more come standard. And the best thing? Someone else deals with the logistics and management!

Great locations

Access to public transport, good cafes and vibrant night life all contribute to a great place to work. Businesses looking to attract retain the best team members care deeply about the location of their office.

Commercial rents might push you out of the CBD and away from these amenities. Coworking lets you set yourself up right in the centre of the city, and find the best team.

Check out what’s included in a Teamsquare membership here or book a tour to see Teamsquare for yourself.