By Indhira Desangles
For my regular readers, who are always waiting for new real estate trends, today I want to tell you about the new model of the corporate real estate market that is becoming increasingly popular in Latin America, it is called Plug and Play.
These types of properties, which are literally ready to occupy and usually come with the necessary finishes to start working, are furnished and equipped with office desks, chairs, printers, Wi-Fi, teleconferencing technology and much more.
Now, for you who are reading this, you are probably wondering, how is this different from a coworking space? Well, the main difference between Plug and Play and coworking spaces is that the former are rented by the square meter and the latter by the person.
But wait! There are other interesting differences:
The number of collaborators:
Smaller teams often need more privacy and focus to improve communication, and this is where Plug and Play comes in. These teams can benefit from small, dedicated coworking spaces. On the other hand, large and medium-sized teams can reap significant cost savings from a spacious coworking space, while also gaining greater flexibility.
Age of your business
If you own a well-established business and have no plans to expand in the next few years, then a plug and play office might be a good option.
For startups, however, the story is different. Emerging companies must adapt quickly to changes in the dynamic business environment, unlike established players. And when the future of their business is unpredictable, a plug-and-play working model will help reduce costs and also contribute to the overall management of the business.
Expansion plans
This applies primarily to startups or companies that are currently experiencing rapid growth. Rapid growth brings rapid responsibility. If you want to make the most of your growth, you might end up wasting time searching for the ideal premises, remodeling, or adapting them. This should lead you to opt for a Plug and Play office model.
Budget
This is more complex, as you need to consider the budget in terms of both short- and long-term goals, since coworking spaces seem expensive at first glance because they're priced per person rather than per square meter. But the truth is, they're much more financially efficient when you calculate your annual costs.
However, if you consider the bigger picture, you'll understand that transitioning to a Plug and Play working model can play a pivotal role in accelerating your business growth. Why? Because it provides invaluable long-term benefits, as well as opportunities to learn from other colleagues, develop a strong network, and collaborate on various projects.
