Many businesses use coworking spaces as an alternative to the traditional office. Not only are employees not confined to cubicles, but coworking and virtual offices offer flexible plans in a modern setting. Professionals from around the world can work remotely in a coworking space while networking with others in the space. Let’s dive into the specifics and learn how coworking spaces can help businesses in the long-run!

What is a coworking space?

A coworking space, otherwise known as a virtual office, is an office where remote professionals or small-to-medium sized businesses come to independently work on projects. Coworking spaces offer the same, if not more, amenities compared to traditional offices. The main differentiator is the flexibility these spaces provide workers and businesses since they don’t need to sign any long-term leases or contracts. Most coworking spaces will have the basics like WiFi, printers, conference and meeting rooms, modern furniture and complimentary coffee and snacks.

What types of coworking spaces are available?

Coworking spaces come in many different forms. When researching for locations and amenities, make sure to consider the following:

- Community
- Workspace environment
- Surrounding businesses ( restaurants, cafes and more)
- Transit hub (subways and bus stops)

The main types of coworking spaces are open, private, industry-specific and venture/incubator workspaces. Depending on your business or work, you may choose one type over another as they can offer different benefits. The connections and relationships you can form within a coworking space can lead to client referrals, new business opportunities or lead to organic growth for your company. Either way, you’re saving money from a business perspective and potentially gaining new prospects in the meantime.

Reduce costs through coworking spaces

If you have a relatively small team and have about 15 members, coworking spaces can help you save up to $2,700 per month – and for small businesses, that’s a lot of extra money. In general, coworking and virtual offices can be up to 60-70% more cost-effective than a traditional office model for businesses with up to 30 employees.

So, how does the cost breakdown work?

For starters, coworking spaces don’t require expensive leases. Down payments and leases can put a dent in any budget. With the help of a coworking space, you can set up shop without the risky overhead.

Additionally, you won’t have to worry about furnishing the office with any desks, chairs or filing cabinets. Instead of charging these costs to the company credit card, you can get settled right away without the added stress. Should any equipment or furniture need any maintenance, you won’t have to worry about that. Your only concern working at a coworking space is paying the monthly fee – which also includes utilities. Here is a list of extras you won’t need to pay for:

Janitorial staff
Insurance
Office manager
Power supply
Internet services

As far as memberships, there are many options available, which can also help cut costs. Flexibility is a key selling point for coworking spaces and most memberships offer flexible plans. A lot of spaces have monthly or annual memberships as well as day passes for hot desking. No matter your budget or needs, there’s something for everyone.

Key takeaways

To sum this up, coworking spaces offer tons of financial benefits for small-to-medium sized businesses. When calculated properly, companies can save a big chunk of change just by utilizing a coworking space. If you’re looking for a pristine coworking space, get in touch with Telsec and book a tour with us today!

Looking to Learn More?

How To Attract Customers To Your Meeting and Seminar Rooms

18 King Street East Suite 1400
Toronto, Ontario
M5C 1C4 Canada
416-574-1112

18 King Street East Suite 1400
Toronto, Ontario
Canada M5C 1C4
416-574-1112

Our Amenities

We are by far the most experienced and best coworking team in the market – established in 1980

We are the highest Tech centre in the market

We have a very modern, high quality, brand new facility located at:

18 King Street East, Suite 1400

Toronto, Ontario M5C 1C4 Canada

- 18 King Street East is a boutique Class A building – East of Yonge: easy street parking, less traffic, excellent restaurants and lovely parks – St. James Park @ Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging area
- A few steps (a few seconds) to the Yonge Street subway/underground PATH network and streetcar available outside building
- Building is located in Toronto's vibrant financial district
- Plenty of parking available in the area including street parking and reserved parking in the 18 King building
- Adjacent to the building huge outdoor food courtyard - Beer Bistro www.beerbistro.com and Craft Beer Market www.craftbeermamrket.ca restaurants and bars with onsite catering services
- Onsite amenities: Tim Horton's, Beer Bistro, Convenience store and Starbucks across the street
- Nearby amenities: underground PATH network, numerous restaurants, banking, Starbucks plus a wide array of nearby shops and services
- New modernized office layout fully furnished with meeting spaces and training rooms plus café lounge area
- We are leaders in the service of training/meeting rooms with full conference facilities, high quality hot and cold catering
- Largest training room and conference facilities accommodate up to 60 people classroom style
- Ultra-high-speed - 1 GIG pipe = 1,000 x 1000 fiber-optic network, which will deliver internet connection speeds faster than most North American services
- Private shower room
- Indoor Reserved Parking at the current building rental rate
- Bicycle parking
- Rent a space to accommodate your team for meetings, training sessions, corporate events or coworking space or flexible office space for one day, one week, one month or one year, or whatever term suits your business
- Telsec has over 650 locations in 40 different countries worldwide available for their clients. Office clients receive up to 8 hours of meeting space per month at no charge at any ABCN member location. Plus, Office and Virtual Office clients may rent a space from any member location at special member rates which varies depending on the location
- King Edward Hotel is located across the street - recently completed a $40 million renovation and boutique hotels close by within walking distance

Dining and entertainment at high quality restaurants only minutes away – Carisma, Terroni, Woods Restaurant & Bar and Michelin Rated - Restaurant 20 Victoria. Plus numerous lunch and takeout eateries nearby

Please check out our 70 second video on our home page or click here:

Take a look at our facilities www.telsec.net

Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.

You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.

The capital cost saving of a serviced office Toronto

What is a coworking space?

What types of coworking spaces are available?

Reduce costs through coworking spaces

Key takeaways

Looking to Learn More?

How To Attract Customers To Your Meeting and Seminar Rooms

Business Casual does not just Apply to Business Attire

The capital cost saving of a serviced office Toronto

What is a coworking space?

What types of coworking spaces are available?

Reduce costs through coworking spaces

Key takeaways

Looking to Learn More?

How To Attract Customers To Your Meeting and Seminar Rooms

Business Casual does not just Apply to Business Attire

Hotels

Restaurants

Health and Wellness

Our Amenities