Congratulations! You’ve made the decision to move into a new office space.
Whether you’re a new business looking to shift into their first commercial property or a growing business moving up, finding the right office is essential for your company’s productivity and growth.
But if you’re a first-time office renter, you have likely underestimated just how expensive it is to run your own workspace. Many business owners fail to realize how hard it is to set up a new office from the ground-up. And let’s not forget the upkeep and day-to-day maintenance of an office. Things can get real hectic, real quick.
A growing number of startups and professionals are opting in for a coworking space. And it makes sense why: everything is set up and you can move in and start operating your business from day one. Even though you’re paying a steep price for a shared office space, it makes sense why so many businesses are choosing coworking spaces over traditional office spaces.
But what happens when your team grows and you need to move out to a bigger, more personal space? A personal office makes more sense, and may also cost less than a shared workspace.
Coworking spaces are designed to provide convenience and tenants often take this for granted. Because you don’t have to do anything and move into an operational office space, you can overlook how much time and money is required to run an office.
Following are top three hidden costs that many businesses owners face when setting up their own office:
Cost of Maintaining an Office:
Setting up IT
This is usually the number one priority for any business when moving into a new office space. You can’t really survive a day at work without having access to the internet or a proper workstation. So it makes sense that this should be the first focus.
But setting up a commercial internet network is not so simple. You need to pay for commercial routers that can be costly. You might also need to hire a professional team to come in and set up the appropriate network for you and your team.
It’s important to have your IT setup properly because it ensures your employees have access to a strong network. Because workers want (and often have) to move around freely in the office, it’s important to make sure that they’re always connected without any interruptions.
If you’re planning to have humans in your office, you’ll need to spend a big chunk on day-to-day upkeep and maintenance. Often, business owners underestimate how much it can cost to clean an office.
If you’re renting out a space in Toronto, you should know that most commercial cleaning companies charge $50 per hour for their services. Even if you’re hiring them to come in for an hour a day, that’s $250 per week, or $1000 per month!
Many people cut back or skimp on the number of cleaning per week when they see the quotes. But a messy office is not the most comfortable space to work from. Also, accommodating cleaners to come in during or before/after office hours is also inconvenient. If you have cleaners come in during office hours, your employees will likely be interrupted. If you have them come before or after office hours, that means someone has to stay back or you have to give them a key to your office space, which often is not the safest option.
Coffee and Snacks
Today, most companies keep a stocked kitchen and offer snacks and coffee to their employees. It’s not really much of an incentive anymore, but the norm.
Depending on the number of employees, and the quality of coffee and snacks offered, the budget can vary for every company.
But that’s just one part of the dilemma. There’s also the hassle of maintenance and ordering of the coffee and snacks. While dealing with a coffee and snack vendor is the best, they can also be expensive.
Yes, you can go to Costco and pick up what you need, but that means weekly grocery trips. And who really wants to be stuck with that responsibility?
ClearSpace: Alternative to Overcome Hidden Cost of Maintaining an Office Space
If you’re looking for the same convenience a coworking space offers and don’t want to deal with the hidden cost of maintaining an office space of your own, ClearSpace is the right solution for you.
We take the office administrative duties off your plate and offer fully customized and flexible workspace in the heart of Toronto. Want a free quote or tour around our office space? Set up your appointment today.