Business Tips » How having a Shared Office Space Affects Your Bottom Line

How having a Shared Office Space Affects Your Bottom Line

Attorney managing legal correspondence on a laptop in a coworking space, with essential office equipment in the background, emphasizing efficiency in a shared legal office setting.

The bottom line. These three little words mean everything to the success of your business. Once you subtract all of the expenses and costs of operating a business from its revenue, you are left with the bottom line, aka pure profit.

Many business owners and entrepreneurs are finding success raising their bottom line by using cost-efficient shared office spaces. But how exactly does a shared office space help raise your bottom line?

Start-up Costs
Start-up costs for a business vary depending on what type of business it is, but you can bet that no one ever said they come cheap. With a traditional office lease, you will most likely have several expenses before you even open your doors. These can include setup and installation fees for services like internet and phone, legal fees, company signage, equipment, and furniture.

In contrast, a shared office space is a turn-key solution to minimizing your startup costs. Most shared office spaces are already fully furnished, wired in, and offer unlimited use of equipment such as a printer, copier, and fax machine. The workspace is up and running and ready to be occupied. Thousands of dollars can be saved on furnishing an office alone!

Monthly utility costs are no joke. Depending on your needs and usage, they can fluctuate greatly, and they can also be hard to regulate, making budgeting for them slightly unpredictable. Utilities can be a hefty chunk of your expenses, and that means a lower bottom line for you.

With a shared office space, the utilities are included in the monthly fee. This means no monthly utilities to have a fully functioning business! There is no guesswork or blowing your budget, because you know exactly what it will cost every month to have your office functioning at optimal performance. So once the revenue starts coming in, there is less expense going back out to cover operating costs. And this means more profit for you.

Features such as reception service, mail and phone service, and conference room rentals can add up quickly to reduce your potential for profit and eat away at that bottom line. The average annual salary of a receptionist in Chicago is $34,000. This may be just one expense your business needs to make up for.

A shared office space offers all the amenities needed to run a successful business. Features included in both an Amata Private Office Membership and an Amata Virtual Office Membership are as follows:

  • Live personalized phone answering
  • Use of conference rooms (for an additional fee with Amata Virtual Office)
  • Prestigious loop address with mail and package handling
  • Use of lounge and café
  • Mail forwarding and scanning
  • Dedicated phone number with voicemails sent to your email
  • Call forwarding to designated number
  • Setup of after-hours auto attendant

…and more.

So while there is no way to avoid business expenses, bundling these expenses into one, flat monthly fee, as a shared office space does, can help you cut costs, stay within budget, and raise that bottom line so that you can reinvest it into further growing your business!