The Rise of Luxury Coworking Spaces

For years, coworking spaces had an image of being a no-frills operation. They were spaces where startups and freelancers could get the basic services they needed at a price that kept them profitable. But today, the professional landscape of Toronto shared office spaces are changing, and there is a greater demand for luxury coworking spaces. 

The new brand of high-end coworking offices is the best of both worlds. They offer the high-design, functionality, and professionalism of a private office while leveraging the efficiency and cost-effectiveness of traditional coworking.

Today, we’re looking at the rise of luxury coworking spaces, and how they can better fit your business.

 

Stagnancy From Large Coworking Franchises

Many of the larger coworking franchises are still stuck in the old model. They’re rushing to expand and establish themselves as global brands. But along the way, they’re losing focus on what matters — the people who work there.

They’re trying to cram as many people into a space as possible to maximize profit. In the hurry to expand, they’re failing to put the care and detail into the offices they already have. Short-term, it works out well for the shareholders. But it comes at a loss of functionality, professionalism, and efficiency.

With the high volume of clients and space, tenant success isn’t as important to them. Failing businesses and high client turnover don’t matter to them, so long as they can keep filling the space.

The new trend towards high-end coworking offices is giving business owners, and their employees, the space and resources they need to thrive. From world-class design to upgraded technology and amenities, luxury coworking spaces offer so much more to their clients.

By putting the focus on fewer spaces, coworking spaces, like The Professional Centre, offer a more boutique experience. They focus on what you need to succeed, bolstering long-term success for both the clients and the space.

In the end, successful businesses are willing to pay a little more, to get a lot more.

 

Shifting Trends in Toronto Coworking

A decade ago, coworking was Toronto’s hot new trend. Today, it’s well on its way to becoming the norm and is full of its own trends and variety. More recently, the biggest trend is medium and enterprise businesses switching to coworking spaces.

These larger businesses are making use of Toronto coworking spaces for satellite offices and meeting rooms. But to support their needs and image, they need a high-quality space. 

Luxury coworking provides the professionalism that protects their brand image, as well as offering the technological and administrative support to keep them operating at maximum efficiency.

With time, this trend has proven beneficial for larger businesses, as they receive the same improvements of a creative and collaborative atmosphere that is a staple of Toronto’s coworking community.

Now that the benefits of these spaces are known, they are growing to rely more and more on shared offices in high-profile locations such as our financial district coworking spaces. These allow close proximity to main offices, and easy access for meetings.

 

It’s Not Just The Big Guys That Benefit

Luxury coworking isn’t just for large businesses. Even SMBs and startups are benefitting from the upgraded space. They receive enterprise-calibre amenities and support at SMB prices.

Administrative support like bookkeeping, payroll, and IT are available as part of a package or on a per-use purchase. It’s like having a full-time support staff without paying full-time salaries. This keeps businesses agile, responsive, and affordable.

As well, high-class design boosts their professional image, inspiring confidence in their clients, partners, and investors. It also improves their attractiveness while trying to hire new talent.

 

Book A Tour At Our Toronto Luxury  Coworking Spaces

The Professional Centre has two high-end coworking spaces in Toronto’s sought-after Financial District. Discover how our luxury shared office space can benefit your business. Book a tour today!