A Local Office vs. A Downtown Office
An office outside your home makes a lot of sense when you consider the improved focus on your work, the ability to gain true work/life balance, enhancing collaboration, and committing to the success of your business. But what’s the best option? Head downtown to a big crowded building with expensive overhead costs and lots of people? What about a smaller local office building that’s close to home? Let’s compare the costs.
Let’s say your downtown office is an extra 30 minute commute from your home. What’s your time worth? $50/hour? $100/hour? Time is money and sitting in traffic is usually time wasted. You’re not building relationships, not resolving issues, not getting things done. And most of all you’re losing precious time with your family. That 30 minute commute each way costs you 20 hours every month… that’s 2-1/2 work days you lose every month! And at $50/hour that commute cost you $1,000 this month.
What about the hard costs of commuting? Gasoline, parking, vehicle wear and tear are the real hard costs of commuting. In 2020, the IRS allows 57.5 cents/mile for automobile travel. Most people don’t think that covers all of their costs, but let’s use that anyway. Your 15 mile commute is 30 miles a day or 600 miles a month. You just spent $345 on vehicle costs! If you pay to park downtown, $10-12 for the day is common. That adds at least $200 to your monthly cost if your office doesn’t provide free parking.
Our estimate of commuting downtown adds up pretty quickly: $1,000 for your time, $345 for your vehicle, maybe $200 for parking. That’s $1,300 to $1,500 extra per month to commute downtown. And you’re going to pay extra rent of $400 to $1,500 more for a one-person office downtown compared to our offices at WRKSPC.
That means you’re spending $1,700 to $3,000 more per month to be downtown. WRKSPC has offices starting at $750/month without the commuting costs and overhead costs. With WRKSPC everything’s included!
WRKSPC helps save you money, be efficient with your time, and avoid crowded spaces. Check out what we have to offer at WRKSPC.