How Greening Your Coworking Space Saves You Money

As demand for coworking spaces has risen, so too have the costs of operating these spaces. According to a 2020 study by Coworking Insights, the average cost of operating a coworking space in the United States is $4,245 per month. This includes rent, utilities, maintenance, and other operational expenses.The study found that coworking spaces with higher amenities, such as conference rooms, private offices, and event spaces, tend to have higher operating costs.

The rise in operating costs can be attributed to a variety of factors. One major factor is the increasing cost of real estate in many urban areas, where coworking spaces tend to be located. 

The COVID-19 pandemic has presented new challenges for coworking space operators. Many spaces have had to implement additional safety measures and sanitation protocols, which can add to operating costs. 

Despite the rising costs of operating a coworking space, the industry continues to grow. According to a 2021 report by JLL, the global flexible workspace market is expected to reach 30% of all office space by 2030. This suggests that coworking spaces will continue to play a significant role in the future of work, but operators will need to find ways to manage costs in order to remain profitable and sustainable.

To address this challenge, some coworking operators have adopted innovative greening approaches to save on operating costs while maintaining a high-quality work environment for their members. Let’s take a look at some of the most common:

Energy Efficiency

Operators can adopt energy-efficient lighting systems, use programmable thermostats, and switch to energy-efficient appliances. They can also encourage members to turn off lights and appliances when not in use.

By reducing energy consumption, coworking spaces can save on energy bills. Energy-efficient lighting systems can result in significant cost savings for businesses, including coworking spaces. 

Here are some examples of cost savings that can be achieved by adopting energy-efficient lighting systems:

• Efficient lighting systems use less electricity than traditional lighting systems, resulting in lower energy bills. LED lighting, for example, can use up to 75% less energy than traditional incandescent bulbs, resulting in substantial cost savings.
• Reduced Maintenance Costs: Energy-efficient lighting systems typically last longer than traditional lighting systems, reducing the need for frequent bulb replacements and maintenance. This can result in significant cost savings over time.
• Reduced Cooling Costs: Traditional lighting systems can generate a lot of heat, which can increase cooling costs. Energy-efficient lighting systems generate less heat, reducing the need for air conditioning and resulting in lower cooling costs.
• Rebates and Incentives: Many utility companies offer rebates and incentives for businesses that switch to energy-efficient lighting systems. These rebates can help offset the initial cost of the new lighting system and result in additional cost savings.
• Improved Lighting Quality: Energy-efficient lighting systems often provide better quality lighting than traditional lighting systems. This can result in a more comfortable and productive work environment, reducing the need for additional lighting fixtures or equipment.

Water Efficiency  

Install low-flow faucets and toilets to reduce water usage. Encourage members to report any leaks or water wastage.

Here’s how it works:

• Low-Flow Faucets: Low-flow faucets are designed to use less water than traditional faucets, without sacrificing water pressure. They typically have a flow rate of 1.5 gallons per minute (gpm) or less, compared to traditional faucets that can have flow rates of 2.5 gpm or more. By using less water, low-flow faucets can reduce water usage by up to 30%.
• Low-Flow Toilets: Low-flow toilets use less water per flush than traditional toilets. Traditional toilets typically use 3.5 to 7 gallons of water per flush, while low-flow toilets use 1.6 gallons or less per flush. By using less water, low-flow toilets can reduce water usage by up to 60%.
• Low-flow fixtures can help to conserve water resources and reduce the environmental impact of the coworking space.

Waste Reduction 

Implement a recycling program for paper, plastic, glass, and other recyclables. They can also encourage members to use reusable containers and cutlery, and avoid single-use items

Related: 

10 Worst Single-Use Plastics and Eco-friendly Alternatives

100 Steps to a Plastic-free Life

In order to implement a successful recycling program, offices and coworking spaces should provide education and training for employees, set clear recycling goals and targets, and regularly monitor and evaluate the program’s effectiveness.

Sustainable Transportation

Members are increasingly conscious of their environmental impact and are more likely to choose a coworking space that values sustainability and sustainable transportation does increase members satisfactions. 

Make it a fun experience for members to use sustainable transportation options like biking, walking, or public transportation and support this by offering secure bike storage and easily accessible shower facilities.

Why it pays to invest in sustainable transportation:

• Reduced commute stress: Sustainable transportation options such as cycling, walking, or taking public transport can reduce the stress of commuting. This can lead to a more positive mindset and increased job satisfaction for coworking members.
• Health benefits: Active transportation options such as cycling and walking can improve physical health, which can lead to improved mental health and increased satisfaction with work and life.
• Cost savings: Sustainable transportation options can save coworking members money on gas, parking, and car maintenance. This can lead to increased financial stability and satisfaction.
• Environmental impact: Coworking members who are environmentally conscious may appreciate the option to use sustainable transportation, which aligns with their values and may increase their overall satisfaction with their workplace.
• Community building: Coworking spaces that encourage sustainable transportation can help to build a sense of community among members who share a common goal of reducing their environmental impact. This can lead to increased social connections and overall satisfaction with the coworking space.

Green Cleaning 

Use eco-friendly cleaning products and methods that reduce the use of harmful chemicals.

As more people become aware of the environmental impact of traditional cleaning products, there has been a significant increase in demand for eco-friendly cleaning products. According to a report by Grand View Research, the global market for green cleaning products is expected to reach $27.83 billion by 2028.

• Many eco-friendly cleaning products are made with plant-based ingredients, which are biodegradable and non-toxic. Companies like Method and Mrs. Meyer’s have gained popularity for their plant-based cleaning products.
• Sustainable cleaning product companies are exploring innovative packaging options to reduce waste. For example, some companies are using refillable containers or compostable packaging materials.
• Water-saving cleaning methods: Water-saving cleaning methods, such as using microfiber cloths and steam cleaners, are becoming more popular as people look for ways to conserve water and reduce their environmental impact.
• DIY cleaning solutions made with simple ingredients like vinegar, baking soda, and lemon juice are gaining popularity as people look for ways to reduce their use of chemical cleaners.

These cost-saving greening strategies can reduce overhead costs, allowing coworking operators to offer competitive pricing while also promoting sustainability and efficiency–providing a unique and valuable option for entrepreneurs and professionals seeking a collaborative and cost-effective workspace.

How PONT Can Help

PONT provides an eco-conscious online booking system that cuts customer acquisition costs for coworking spaces. Its green technology reduces energy use, streamlining operations in an environmentally friendly way. By promoting sustainable practices, PONT helps coworking spaces save on costs while supporting a greener future. List your space on PONT.

Wrapping up

Coworking spaces have seen a surge in demand, yet operating costs are climbing. Despite these challenges, the coworking sector is poised for growth abd operators are countering rising expenses by embracing green initiatives such as energy and water-efficient fixtures, waste reduction, support for sustainable transportation, and eco-friendly cleaning methods. These strategies not only curtail costs but also resonate with environmentally-conscious entrepreneurs, adding to the appeal of coworking spaces as hubs of cost-effective and sustainable business activity.