The benefits and costs of co-working

Since theDesk opened two new co-working spaces over the past quarter at One Hysan Avenue and Leighton Centre, many have approached us to find out more about the benefits and cost of co-working. You may probably have similar questions.

What are the benefits of choosing theDesk? How does theDesk offer great value? What options are open to me and my business?

To answer your questions, the newsDesk spoke with Commercial Director, Paul Johnson. He shares about the benefits of theDesk’s flexible plans and pricing. And why they make good financial sense for businesses of all kinds.

We’re bombarded with special offers these days; buy two get one free, limited-time discounts, gifts for signing up, downloading or logging on. Our phone contracts alone are complicated enough.

The lack of transparency can be confusing. Sometimes it’s impossible to know if you’re getting the best deal or not. What’s the situation when you’re comparing different provider’s co-working plans and pricing? How can you make sense of the multitude of options that companies offer?

The evolving world of work

By 2030, 30% of the global office market will be co-working spaces. That represents a significant shift in the way many of us will work and run our businesses. Workspaces which are designed specifically for collaboration and to enrich communities can help drive innovation and spark creativity, no matter whether a start-up or multinational company. 

What are the benefits of co-working for my business?

We all shop around for the best deals. We want to know what we’re going to spend. But just as importantly, we want to know how co-working will benefit our businesses. Commercial Director, Paul Johnson explains how theDesk’s prices and plans are flexible, transparent and offer the best value – and returns.

All-inclusive plans mean cost saving for you

“Pricing is per person, and it’s all-inclusive,” Paul explains. “For you, it’s simple. You don’t need to suffer any additional costs. For example, management fees, legal fees, utilities, CAPEX, and so on.”

“And you don’t get locked into a long-term, inflexible lease. The benefits of our all-inclusive costs are especially suited to dynamic teams that grow and contract according to business demands.”

“Co-working is part of a shift towards a more sustainable, sharing economy,” Paul explains. “In one sense, it challenges the notion of personal ownership because resources are shared between you and the whole community.”

“Just think about how much rent per sq.ft. you spend on underused or extra space. For example, meeting rooms, communal spaces and reception.”

“When you choose to locate your business at a co-working space, ask yourself what is your cost of using external meeting spaces on a weekly or monthly basis? How often do you pay for refreshments and day-to-day amenities? How do you squeeze temporary or additional staff into your space?”

“These are everyday business issues that companies like theDesk can genuinely solve; saving you money. But without losing access to facilities that matter to your business.”

“In today’s economy, leases should work according to your business model. It’s not about a one-size-fits-all approach anymore. It’s about unique solutions for your specific enterprise.”

“Perhaps you’re project-oriented and looking for monthly leasing options. Or maybe you’re more established and want to commit to a long-term lease. The beauty of theDesk is that all of the options are available to you.”

“You might need to move to a bigger space in the middle of your agreement. Or your company may need to place staff temporarily in the open space. It’s all possible, and easy to arrange.”

”Even working in multiple locations; with theDesk you can work from any of our spaces on request. That’s great if your work involves moving around the city a lot.”

A fresh perspective every day

Companies can be guilty of ‘breathing in their own exhaust fumes’. When we work in isolation, we lack the variety of formal and informal connections that a co-working centre offers.

Studies show that a top reason why people choose co-working is the opportunity to grow their networks. To connect and interact with people from many different fields and areas of expertise.

“Co-working provides a great balance between private and collaborative space,” Paul tells us. “A private office helps foster and build your team culture. While open collaborative spaces lead to connections.”

“Our community members are very active and passionate about what they do. They love to take advantage of the whole co-working space. After all, it’s designed for everyone to share.”

“Not everyone wants to socialise all the time. But building relationships with the community of businesses enables you to think differently. And meet new and interesting people from a range of professional backgrounds.”

Designed for success

Traditional business and office centres were good for their time. But the design of these centres prioritises the centre’s brand. Typically, they lack design which promotes interaction, a sense of community and purpose among people.

“Our centres are designed to bring light into the spaces. The layout is optimised and configured to support innovation. We don’t overpower or overshadow your brand. We provide an open invitation to bring your colour and personality into our space.”

“theDesk is a blank canvas,” says Paul. “We don’t go for gimmicks and trendy “hipster” interiors like a New York loft. We’re a Hong Kong company. Our community is eclectic.”

“But our members value a contemporary, tranquil and minimal environment. They want a place to do their best work. So, there’s no crazy ping pong or loud music at theDesk.”

Our commitment to the long-term: Strategic pricing

Your time in a co-working space may be short, medium or long-term. But the financial health of your co-working provider is evident in its commitment to the future.

“For theDesk, this is about providing a community, excellent services and personal attention. These are things that set us apart,” Paul emphasises. “It is also about a transparent pricing structure which allows you to grow alongside our business.”

Beware of tactics like deep discounts

“Beware of deep discounting,” Johnson warns. “The price per head is calculated on the cost for each co-working space. There is a base price. Below that base price and the company is effectively paying you or your business to be in the space.”

“Although it seems attractive to you in the moment, it creates a distorted view of the viability of co-working. It helps an operator fill vacant space more quickly, but it creates a volatile position for the future.” That is especially true when it’s time to extend your agreement, and the company’s commercial minimums need enforcing.

“Your business is set-up to be sustainable and grow. So choose a workspace partner who shares that mindset.”

Hotdesks and dedicated desks

Many co-working spaces consider hotdesks as a loss leader, or a heavily discounted entry point into a co-working space. In fact, the hotdesk is just as important as a private office or dedicated desk.

It provides members with the ultimate flexibility. It’s a working environment which resonates with many people and remains very popular.

“theDesk views hotdesks as spaces on the same level as other products and services in our spaces,” Paul explains. “That is reflected in our tiered pricing for hotdesk spaces based on people’s specific needs.”

theDesk: A sustainable business for the future

theDesk is one of Hong Kong’s rapidly growing co-working and events companies. The company is responding to the increasing demand for quality and sustainable solutions for businesses. Through its expansion across the city. And through it’s unique approach to collaborative, flexible quality services, workspaces, plans and pricing.

“theDesk has established a unique position in the co-working sector; bringing people together through connected professional communities,” explains Johnson. “The company’s approach focuses on both its members and neighbourhood businesses.”

“We strive to become a placemaker at the heart of Hong Kong’s diverse neighbourhoods,” says Paul. “We’re committed to evolving the early concepts of co-working.”

“theDesk is an advocate for the future. We’re here to stay. Our pricing is transparent, sustainable and competitive. We assign value to our infrastructure and our service. We demonstrate this through our transparent pricing and plans.”

And is it effective?

“Our workspaces quickly fill up to become exciting centres of innovation and business growth,” says Paul. “So, we must be doing something right.”

How much could you save with a private office at theDesk? Try our calculator.