Coworking spaces offer flexible rental and shared workspaces with a suite of office-like amenities such as hot-desks, private meeting rooms and pantries. 

Since the first-ever physical co-working space opened in 2005, the concept of it has grown and even evolved rapidly. Core Collective for example, avails co-working to fitness and wellness professionals with fully-equipped gyms, fitness studios as well as treatment and consultation rooms. 

There are many reasons why co-working has become the ideal way to go for SME’s all over the world and today we’re discussing five reasons why flexibly space rental is most beneficial to an SME’s bottom line. 

 

The Pay-Per-Use credit system is a flexible and cost-effective way for fitness and wellness professionals to access premium spaces and facilities without committing to fixed rental fees. This system allows professionals to pay only for what they use, making it an ideal option for those who prefer a more adaptable approach to managing their business expenses.

 

Professionals can purchase credits in advance, which they can then redeem to rent treatment rooms, fitness studios, or gym spaces at Core Collective. The credit system operates on a tiered pricing model, where purchasing larger credit bundles provides greater discounts and additional benefits. This structure allows professionals to book spaces as needed, giving them the flexibility to scale their usage based on client demand.

 

Businesses are meant to grow and flexible space rental helps them do that with ease. Most co-working spaces have different options for rooms that can be rented depending on each business owners’ wants and needs. Whether they need to increase or decrease their space to match their business demands, they can easily do so at a co-working space without having to move locations. 

 

Flexible office rental is usually cheaper and rooms are often fitted-out with all the necessary furniture and equipment a business owner will need – desks and chairs for a desk job worker, gym equipment and shower facilities for a fitness business owner, a fully-equipped Pilates studio for Pilates instructors, or treatment beds and consultation sofas for wellness business owners. Other amenities such as printers, cleaning services, and washroom facilities, which contribute significantly to business expenditure, are also covered by the cost of your rent.

 

Setup costs aren’t the only costs that the rental of co-working space enables. Shared services such as receptionists and appointment bookings can further reduce or even completely eliminate operational costs for a business. Fewer costs = more profit!

 

According to Office Spaces, the minimum term that landlords in Singapore accept for office rental is typically two years regardless of whether space is being fully utilised or not. For many entrepreneurs and new business owners, two years might seem like a pretty long commitment. 

 

Flexible space allows business owners to start and conduct their business without having to commit long-term. Amazingly, you can rent space for as little as just a few days. This means that during times of uncertainty, if and when your business needs to take a pause - so can your rent.

 

Where you work largely determines how you work. Most co-working places encourage a sense of community and positive competition, make employees happier, and increase their productivity. This ultimately helps businesses maximise their bottom line.