You’ve got a great idea, you’ve done the market research, got your logo and marketing plan down, you’ve taken the big decision to start your own business, this is the exciting stage…Then comes the financial bit, as a new business owner there are enough outgoing expenses to think about, working from home or coffee shops may seem like the cheapest and most cost-effective way to work but how can a co-working space deliver return on investment?
Shared workspaces are home to a variety of businesses from a range of industries and a quick and easy way to network. You may find that you are cash-poor but time-rich in those early days, why not trade services with your fellow co-workers to help kick-start some projects? You may also meet people who could generate leads and send business your way.
Most start-ups use the owners home address as their business correspondence and registered office address, which gives the impression you are running a small operation. Although this may be the case, having a dedicated business correspondence address on your website, business cards and where you can receive post gives the impression you are established and big enough to win those important contracts, and not infact running your business from your dining table.
One Hub offers a full reception service for your business. Our staff are not just on hand to ensure there are coffee beans in the machine and milk in the fridge but we provide a front of house service for your start-up. Meeting clients on site? They will be welcomed by a friendly face, one who knows you and your business, meeting and greeting your prospective clients, elevating your small business and projecting a level of professionalism, without you having to pay a full-time receptionist.
Co-working spaces are the home of successful start-ups. If you are just starting out, you can guarantee that you will meet other like-minded small business owners, whether in the kitchen or via an introduction, who have been on the same business journey as you, and have faced the same challenges. Giving you the opportunity to ask questions, gain advice and learn from other people’s experiences which will allow you to avoid costly mistakes in those early days.
Time is money. Its proven working from home comes with many distractions, a flexible workspace allows you to get to a desk, stick to a routine and focus on working through that never ending to do list. Yes, there are hire costs for co-working spaces but the increased productivity you’ll see from escaping the distractions of home, will be invaluable.
Now, you are at the stage of pitching for that big contract, perhaps you are recruiting and interviewing for your first employee, you will need a professional meeting room space. Here at One Hub we have a number of options for meeting room hire, for in-house and non-members giving you a familiar and comfortable space for those crucial meetings, saving on the cost of researching and hiring external locations.
If you are looking for a private, dedicated office as the new home of your business, serviced offices within a co-working space are much more cost-effective, than taking out your own lease on a commercial property, with no estate agents and no lengthy contracts to deal with. You then have to set up your own gas and electricity utilities, cleaning contracts, Internet installation, printer install, business rates. Not only do we take the hassle out of office management, we shield you from rising utility bills, allowing you to concentrate your time and money on building your business.
Spotify, started in a co-working space in Stockholm, Uber and Instagram started life in a shared workspace in San Francisco, proving that collaborative workspace environments are an eco-system of innovation. With the right resources around you, your start-up business can thrive and grow into a giant of industry too.