Coworking for Freelancers, Business Owners, and Franchisees

Businesswoman holding notebook thinking

Coworking spaces, is slowly becoming a buzzword to freelancers, business owners, and even corporations. Thanks to coworking — freelancers get a decent place to work, entrepreneurs can run their small businesses more easily, and franchise holders rake in big money.

But what exactly is coworking, and should you consider being part of the practice?

Work at Your Own Terms

You’ll think that work won’t get done under these conditions — but surprisingly, coworkers perform more efficiently than they would normally would in a normal office setting. Freelancers and independent contractors can perform their tasks with no bosses looking over their shoulders.

They can purely focus on the job since coworking relies more on output — bereft of all the social dealings in an office. Coworking usually involves a shared office space, usually very informal and with an organic feel.

Coworkers have their own workstations, but they can move freely within the confines of the shared space. There are no office hierarchies or dramas — all you need to worry about is getting your assigned work done within the allocated time frame. This informal setting and a more relaxed working condition have made coworkers more efficient, less stressed, and happier.

Getting Startups Started

Coworking spaces give startups and small businesses a place to work, meet clients, and hold meetings — without the need to rent actual office space. It eliminates the need for troublesome permits, office furnishings, daily cleaning and maintenance, and the ever-rising costs of rent.

Most coworking spaces can even cover your concierge and secretarial needs for an additional fee. Shared office spaces allow entrepreneurs to minimize their overhead and devote more of their capital into their business endeavors.

Being a member of a large coworking company with multiple branches also allows you to set up meetings with clients in different locations easily. You can book a conference room or a few workstations in another branch of your coworking space whenever you need to travel.

A large coworking space also allows you to network with multiple people with varying expertise in their own different fields.

Opening Your Own Space

People discussing at a coworking space

Starting your own coworking space will require a bit of capital — around $10,000 to $50,000 depending on how big you want to go. You can usually recoup your investment in 1–2 years — especially when you’re booked at 80 percent capacity.

That capital will go to rent, workspaces, connectivity, miscellaneous office needs, and wages for a skeleton crew for concierge services and maintenance. If you own a suitably large location, your initial investment drops significantly — giving you more capital to devote to the bells and whistles that will make your coworking space more inviting and appealing.

Of course, it’s always best to partner up with an established coworking brand. This gives you access to their networks of contacts — including corporate clients. Once your shared office space is operational — the coworking brand does most of the work.

By next year, 40 percent of all American workers will be using some form of coworking. Corporations are keen on exploring the practice and employees are eager to work in less restrictive office environments.

How to Keep Your Catering Equipment in Excellent Shape

Catering Event

The food industry is continuously flourishing, and catering services are still a promising business. Individuals interested in venturing in this type of enterprise should learn how to manage resources and schedules effectively. Business owners need to be proactive in maintaining very high standards for the food they serve as well as the equipment they use. In London, successful companies call for repairs for their catering equipment on a regular basis. This is done to minimise damage, maintain longevity and prevent costly replacements.

Damage Due to Wear and Tear

One of the most common causes of damage to catering equipment is the lack of preventive maintenance due to constant use and servicing. Like any other machinery or tool for business, catering equipment should also be checked regularly. The cost of preventive maintenance will give catering operators more savings in the long run. Here are some ways to ensure that your equipment remains in the best shape:

  • Have a place for equipment storage that is easy to access and convenient for your staff. Besides placing them near appliances or cooking equipment, you should also consider the safety and health of your employees.
  • Be sure that the equipment is far away from water and electricity as prescribed by the manufacturers.
  • Always follow the manufacturer’s instructions carefully when installing catering equipment. For the safety of all your workers and the workplace, avoid any shortcut during installation.
  • Avoid DIY installation for equipment that requires a professional and qualified technician. Some kinds of equipment need technical knowledge for commissioning and installation, so it is best to let the supplier or manufacturer work on them.
  • If an appliance calls for a water filtration system, it is best to install one that conforms with the requirements of the appliance and local water conditions. Doing this will reward the business with prolonged usability and improved quality of products.
  • Orient workers on how the equipment is operated. Although there are manuals and instructions, in cases when there is uncertainty, do not hesitate to call the authorized agent.
  • Use the equipment with care, following the guidelines and for its intended purpose only. Do not overload or use it for processes that it was not made for.
  • Follow the proper cleaning procedures and be diligent in cleaning the equipment regularly.

Regular Maintenance Saves Costs

Event

Some catering businesses try to avoid additional expenses by not practising preventive maintenance. Don’t wait for the time when the equipment is already beyond service. This can cost more, especially when you take into account the impact of the damaged equipment to the whole business. There are productivity losses, higher repair bills, replacement expenses, and dissatisfied customers.

All these can be avoided if the equipment is well taken care of and used as intended. Business owners can also ask manufacturers for a preventive maintenance program for all the equipment, which should be incorporated during the orientation of all workers. This will not only result in fewer breakdowns and lower repair costs but also improve service, productivity and overall customer satisfaction.

Read more at Daily Bumps.