Do You Want to Open Your Own Hybrid or Flexible Workspace? – These Are the Risks

Since a recession seems increasingly likely, companies are looking for ways to expand the offer of their activities in order to protect their income. If new initiatives could be realized quickly and efficiently, companies would not just be protected from financial adversity, but also have an opportunity to develop.

At first sight, it appears that the sector of flexible workspaces provides potential for this kind of initiative. Due to the relatively low initial investments and a short way to the market, the opening of flexible workspaces which will match the increasing demands of the workers and their employers may seem simple at first sight. What’s more, small beginnings can progress fast without a doubt, which can result in the forming a whole new brand or product line.

However, before even looking into the options in the field of real estate, the actual conditions need to be checked. The forming of successful workspaces is not simple. The field of flexible workspaces carries a lot of challenges with it, which can mean that the expected goals aren’t necessarily realized, and well-planned initiatives can become expensive and non-cost-effective in a short amount of time.

Here are three reasons.

The question of proportions

Hybrid and flexible workspaces are attractive to users because they enable a wide range of the choices of locations, spaces, time, as well as the manner of engaging in the working environment. To provide these choices, you need a certain range of space offer. Large, small, short-term, or long-term. Put simply, one location will not be sufficient to meet all needs.

New models of hybrid business operations are not something one can think of subsequently, nor can they be treated as accessories. They need purpose-made spaces dedicated to the forming of a suitable environment and the use of the technology that the workers need. The realization of this may not be possible if the space has a secondary importance within a traditional workspace in the real conditions.

Within a single company, the most effective hybrid work models provide the workers with various locations where they can work. This entails finding numerous locations for these offices, places which are attractive and accessible – for example, located so as to reduce the stress and the environmental impact due to the workers’ commute. One location, especially a location which is already used as a traditional office, will not provide this alternative.

Organizational management

If the abovementioned challenge is successfully overcome, this leads to operations which require a high level of management. The workspace will be productive only if a high-quality customer experience is realized in it, from the very beginning all the way to the end. That means that everything has to be done without a problem, from the administrative procedures and the signing of agreements, to the maintenance of facilities and features in the location.

Don’t forget that the providers of the services in the sector of workspaces are not competitive only when it comes to prices, but also when it comes to the standards. The reception service, refreshments, as well as spaces for socializing and rest, are extremely important to users, and if they are provided in one location, they will be expected in all other locations as well.

Even if you opt for the basic approach regarding the offer, as the lessor, you will be responsible for what happens in the facility. In that case, the costs and the workforce needed for the maintenance of the facility can increase considerably in a very short amount of time.

Marketing and brand

When you overcome all the abovementioned challenges, the final one remains – how to attract people to your space. Despite the increased demand for hybrid solutions, the employees still have the right to use them or not. The fact that the employer pays to secure access to a location doesn’t mean that the employees will accept it. If it is not attractive to an individual, they might decide to stay at home.

The brand and marketing strategy will probably not be sustainable, or even cost-effective, if it covers a small number of offices, or just one location. Access to the brand may not even be suitable if significant locations or products are not available.

In general, the forming of a hybrid office is not as simple as may appear at first sight. Without considerable investments or a clear understanding of what’s encompassed, the costs of the opening, launching and promoting of the location can quickly increase and far exceed the revenues. Even if the company has potential locations which are ready for preparation and if there is a wish to expand the offer, it might be better to consider other options, by which these intentions can be realized in a simpler way.

Contact us and learn more about how we prepare flexible workspaces for everybody’s business.

International Workplace Group

International Workplace Group

IWG

flexible work spaces

flexible workspaces

hybrid work spaces

hybrid workspaces

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