Are Co-Working Spaces Worth the Investment?
More and more, people are going into business for themselves. Those tired of “working for the man” or craving a better work-life balance are calling it quits on punching the clock.
Trends in Atlanta are also showing a demand for workspaces where people can come and go at their leisure—especially when working from home is not always ideal.
More often than not, freelancers and start-up companies are not in a position to rent costly office spaces, and above all, they are not willing to make a long-term commercial lease at the start. So, where is all this business being conducted?
Co-working spaces are shared office workspaces that offer a complete, low-cost solution to telecommuters and small businesses. Even large corporations are catching on to the concept when planning for contract workers or special projects.
So how does it work?
If you provide the desks, internet, telephones and coffee—they will come.
Most co-working spaces are supported by (and make money from) memberships. Members comprise people who are looking for a space to work on a daily, weekly, monthly or quarterly basis. In addition, owners of these shared spaces make even more money by renting out conference rooms for meetings or events.
People are finding that they are much more productive when they have somewhere to go and people to connect with. Co-working spaces allow members to collaborate on ideas with people from all walks of life and all areas of business.
Office politics are almost nonexistent since everyone works for themselves. Also, having a professional place to hold a business meeting is an attraction in itself, as some people aren’t keen on the idea of doing business in a living room or coffee shop. (Sometimes those screaming kids or open mic sessions will kill a deal.)
If you are sitting on an empty commercial building or have just recently stumbled across a jewel of a space, why not turn it into a co-working space? We can look into funding the renovation of your existing building or the purchase of a property.
Do You Need a Hard Money Loan in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.