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How to save up to 45% on your office space

Jul, 2019 02

If you’re planning to MOVE OUT OF THE HOME OFFICE FOR THE FIRST TIME, upgrade your work environment, or downsize your business’ footprint, your options aren’t limited to commercial leases.

In fact, there are a few different options available for micro and small businesses, and teams from larger businesses. Besides a traditional commercial lease, there are Serviced Offices, Business Support Centres, and (our favourite) coworking spaces – a relatively new option for business owners, offering all-inclusive, month-to-month memberships that provide access to beautiful, professional facilities.

While there are advantages to commercial leases, a coworking space usually works out to be the more economically viable option for most SMEs in addition to the value-adds (e.g. super-fast WiFi, a network of other professionals using the space).

Let’s take a look at a breakdown and comparison of the costs involved in coworking vs. commercial office space.

 

Dashworks Charlestown Flexible private offices for teams

Comparing Costs for Team Offices

The average costs of a nice commercial office space of 40sqm (if you can find one that size in Newcastle and Lake Macquarie!) would be:

  • $21,000 p.a. base rent ($1750/mo)
  • $5250 bond ($437/mo)
  • $10,000 fit-out and furniture ($833/mo)
  • $3000 p.a. utilities ($250/mo)
  • $1200 p.a. NBN internet ($100/mo)
  • $1800 p.a. office expenses ($150/mo)
  • $1200 p.a. maintenance ($100/mo)
    • TOTAL: $43,450 ($3620/mo)

In comparison, a team membership for four people at Dashworks starts at $2000/month ($24,000 p.a.). The facilities and benefits on offer are:

  • All outgoings covered, including 200/200Mbps WiFi
  • 24/7 access to the premises and all facilities (kitchenette, tech equipment e.g. presentation technology, bike parking, lockers, showers, etc.)
  • Up to 2 hours of free meeting room usage per person per week (and a discount on usual meeting room hire rates after that)
  • Printing – 50 B&W pages per person, per month
  • Discounted parking at nearby car parking stations
  • A business address for mail and a professional space for client meetings
  • A private, lockable office for four, six or 12 people, including desks, ergonomic chairs and under-desk storage (extra cost, and prices vary depending on office size)

 

A team membership at Dashworks can save you almost $20,000 per year (in the first year of tenancy), representing a 45% saving on traditional office costs.

Office Space for One Person

For individuals running their business as a sole trader, renting out an entire commercial office space can be almost out of the question. The costs are prohibitive and availability can be scarce. A coworking space, on the other hand, can provide the flexible, more-affordable option you need to secure a base for your one-person show and work towards your business goals.

At Dashworks, individual memberships are available in three tiers: Dedicated Desks, Hot Desks and Day Passes. Check our PRICING PAGE for information on the different membership tiers.

These month-to-month memberships are all inclusive of outgoings, 200Mbps WiFi, tea and coffee, printing, meeting rooms and events. In addition to the business facilities, you’ll be joining a community of other business people, who are in the same boat as you and happy to help their neighbours out as often as they can.

Summary: Coworking Space vs Traditional Commercial Leases

There are many benefits in choosing a coworking space like Dashworks over a commercial office lease.

  • Month-to-month memberships (no lock-in leases; easier scalability if your team grows),
  • Ability to move into the space immediately (no downtime while leases and fit-outs are finalised),
  • One all-inclusive invoice (no office-management stress),
  • Immediate connection with other business owners around you (no isolation, a community feel and the growth benefits of local networking),
  • Access to partner discounts and events.

Interested in seeing where the coworking path can take your business? Book in for a tour of our coworking spaces and see the benefits for yourself.

BOOK NOW!

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