We have the strong belief that coworking spaces due to our target consumer will actually thrive regardless of the financial market we find ourselves in.
Think of the clients that we serve, entrepreneurs with more or less a constraint financially to establish their own headquarters, all the way to internationally recognized businesses looking to enter into the U.S. market. BOTH benefit from the savings of having somewhere to operate their businesses from, at a MUCH lower cost than if they were to open their own location and have to deal with a higher lease payments. We’re in Miami, we know rent ;-). For example, a small office in a nice area, say, South Miami (not exactly a financial or entrepreneurial hub which keeps rent “low”) would cost somewhere in the realm of $1500 – $1800 for about 550+/- sq ft. That’s if you know somebody that knows somebody, if you catch our drift. This expense is not only to keep the doors open, but to have all the services needed to run an office. Add a staff of 3, 4 or as many people as you need to cram in that small space and that number can climb substantially. Keep in mind entrepreneurs put in the work! They could easily invest up to 80 hours a week sucking up all your printer’s ink and client’s coffee. Granted, it’s all worth it but coworking offices essentially transform what would otherwise be a pile of operational invoices and turns them into just one.
When it comes to your rather larger enterprises looking to enter a different market in which they have no working knowledge about, that in itself represents a huge financial risk. Coworking spaces can increase that company’s odds of succeeding in their foreign endeavor because they ultimately minimize businesses’ fiscal responsibilities. We believe an economic slow-down would only push business owners or entrepreneurs to explore the option of a fully equipped coworking space. Add to the equation a nurturing environment in which their progress can be accelerated due to the natural spirit of collaboration between members and the benefit simply multiplies.
Did I say No Lease Agreement for 5, or not even 1 year???
We are ready for any kind of economic climate and will help businesses whether the storm for years to come.