There is no doubt that the modern office is very different from the offices of yesteryear. Today, far fewer companies utilize large offices as their headquarters. Part of this is the result of the rise of the startups, but even more well-established small businesses are switching to alternative office options. Specifically, more and more businesses and freelancers are making use of shared office spaces. Shared office spaces, also known as coworking spaces, are the wave of the future, when it comes to where things get done. Individuals and startups simply rent out however much office space they need, for however long they need it. This is convenient for them, and is a great opportunity for whoever owns the building. If you are looking to invest in a turnkey franchise, there is no better option than a shared office, such as an Office Evolution franchise.
The reason why office space is such a good thing to invest in is the fact that office space is skyrocketing in value. This is especially true in certain metros with rapidly rising populations, such as Denver and Seattle. That being said, in any city you can make a lot of money as a landlord for offices. Office space tends to be a lot more costly than private residences, and for the most part, there is less for you to worry about.
Still, there are a few things for you to take care of as the landlord. You simply need to make sure everything remains in working order, since amenities are a big part of what people like about shared office spaces. They typically offer wi-fi, fax machines, and various other office essentials. That being said, if you ever have any issues, the franchise can help you figure them out. They will let you know how to go about replacing anything that becomes damaged. For the most part, though, there is very little upkeep required of an office franchise, since the tenants are only there to use the space and work.
The way in which shared offices work is one of the biggest reasons why owning them is so lucrative. With an ordinary building, you would lease out various rooms on a yearly basis. This guarantees a stream of income, but it is highly limited. With a shared office space, you can simply rent out small portions of the building, for whatever length of time the tenant wants. This enables you to have the most tenants, in the shortest amount of time. This, of course, increases your profits. Plus, with a coworking office franchise, there are countless different ways in which the space can be broken down. If you need one office and one conference room, you can reserve just that. On the other hand, if you need several offices, you simply need to request that. This enormous level of flexibility is good for the tenant, but it is also great for you as the owner, since it enables you to increase your overall number of tenants.