"Together Everyone Achieves More”
When comparing a shared office space like Workwise Office to a traditional commercial lease, it might appear on the surface that shared space is more expensive. However, as you look at the bigger picture, it becomes clear that the Total Cost of Occupancy (TCO) is lower for most office-based professionals and small business teams.
TCO is a financial metric that takes all the expenses associated with occupying an office space into account, beyond the base rent. It's a comprehensive way to understand the true cost of a workspace over a given period. And make a better, informed decision.
Many people tend to focus on the cost per square foot of just their private office. But at Workwise, more than half of our total square footage (51%) is space that is shared between all 60 offices AND our fully-remote and hybrid members. Plus, a long list of value-added services is also included with our private offices so you can focus on what you best. We'll take care of the rest.
We save you money by allocating the cost for all the extra space and value-added services across all of our members. You don't have to pick up 100% of the cost for any of it, like you would with a traditional lease.
| Expense |
Workwise Office |
Traditional Commercial Lease |
| Base rent |
Included |
Included |
| Common area maintenance |
Included |
Extra |
| Utilities |
Included |
Extra |
| Janitorial |
Included |
Extra (or DIY) |
| Furniture |
Included (and flexible) |
Bring your own (BYO) |
| Meeting rooms |
6 hours (or 1 day) included every month |
Extra rent for the square footage |
| Break room |
Includes coffee, water, etc. |
Extra rent, BYO coffee, water, etc. |
| "Third Place" to relax and meet people |
Includes our large, open Lobby Cafe |
N/A |
| Internet (Ethernet or WiFi) |
Included (super-fast 1GB) |
Extra, BYO hardware |
| Business phone with unified voicemail |
Included |
Extra, BYO hardware |
| Printer/scanner/copier |
Virtually unlimited (100 pages/month) |
Bring your own |
| Secure shredding |
Included |
Extra or BYO |
| Postal service |
Includes remote, digital access |
No charge for basic postal service |
| Office Manager |
Included |
Additional payroll expense |
| Receptionist and light office support |
Included |
Additional payroll expense |
| Notary services |
Included |
N/A |
| Fitness center, lockers, and showers |
Included |
N/A in most cases |
Flexible Terms
Traditional commercial leases usually lock you in for 5 to 10 years. But what if your needs change before then? How much will that cost you? If we’ve learned anything from recent history, it's that things can change. Fast. That's why Workwise offers shorter, flexible terms. Most of our office agreements are for 12-months. But we offer shorter terms if necessary. And we're the only ones to offer an early termination option if your situation changes unexpectedly.
Is Shared Office Space Right for You?
Shared office space isn't right for everyone. You might be able to find a good deal right now if you need specialized space like a full-time showroom or warehouse. Or if you have any plumbing requirements (eg, foodservice, medical). Larger corporations might be able to justify the additional investments required to build-out offices on a traditional lease. But many of them, including IBM, Microsoft, Amazon, Google, and Salesforce, are also adding shared offices to their real estate portfolio for the flexible terms.
Personally, I tend to be a "value shopper." I don't usually buy the most expensive, or least expensive option. Use TCO as a decision-making tool when it's time for you to consider your next office and I believe, if we're a good fit, you will find that Workwise offers you the best total value.
