London bound entrepreneurs spending nearly £6,000 a year

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The Clubhouse

London bound entrepreneurs spending nearly £6,000 a year unnecessarily to pass time in between meetings

London bound entrepreneurs and business people without a London base in which to work and meet are spending £5,824 a year at cafés, hotel lobbies, bars and restaurants unnecessarily to pass time in between business meetings. Our research revealed that entrepreneurs are also wasting up to three hours a week of productivity (or 156 hours a year) in cafés, hotel lobbies, clubs, bars and restaurants in between business meetings.

Whilst recent innovations in mobile technology and cloud computing allow people to work and meet in a more flexible way, contributing to a significant growth in ‘cappuccino commerce’, the research showed that in an average week, entrepreneurs spend around £700 a week in London (excluding travel) of which 16% is deemed unnecessary and simply to pass time in between meetings.

Three quarters (74%) of respondents suggested they would be interested in saving money in between meetings by joining a member’s club specifically designed for business people.

In an average week how much do you spend on the following items on business trips in London?
Overnight accommodation £382.84
Dinner £132.58
Taxis £58.04
Lunch £49.14
Breakfast £20.72
Snacks £20.50
Coffee £16.06
Teas £14.00
Newspapers/Magazines £7.40
Total £701.28

Source: The Clubhouse (November 2015)

Adam Blaskey, Founder and CEO of The Clubhouse, said: “London is the epicentre of British business and entrepreneurship.  Our research has identified a growing trend in the number of entrepreneurs and business people coming to London to do business but who are currently squandering large sums of money and wasting valuable time in often uncomfortable, noisy and expensive locations. This is exactly why we launched The Clubhouse: to provide a professional, business focused alternative in which to work or meet all of your business contacts such as clients, colleagues, investors, suppliers and partners. As London’s leading business members club and meeting space we now provide a London base and the smarter alternative to a London office for over 250 companies of all shapes and size and from many industry sectors.”

1 Source: The Clubhouse commissioned research with 156 professional business businessmen and businesswomen without an office in London