Coworking spaces are popping up everywhere nowadays. If you’re a freelancer or you’ve launched your startup, coworking is probably already on your radar. This no-ties workspace solution offers a busy office environment without the upfront commitment.
But will a coworking membership benefit your business, or just provide more distractions? These top features of coworking spaces will help you weigh up the pros and cons.
The Pros of Coworking Space
From affordability to tasty snacks, the benefits of coworking are many.
Low Cost
It’s not surprising that one of the top considerations that startups and freelancers bring to the workspace market is price. Compared with the traditional office model, coworking spaces offer more flexible use of the space at a lower price point. All-inclusive pricing usually includes essential services like managed IT, cleaning and maintenance. Call answering and admin services come as optional add-ons, and some memberships throw in all the bells and whistles like bean-to-cup coffee and healthy snacks.
Flexible Access
24-hour access comes standard at most coworking locations, and flexible membership options give you the freedom to come and go as your business requires. In the old days when it was leased office or nothing, startups weren’t able to move out of the garage or basement until they knew for certain that they were here to stay. Coworking monthly memberships allow business pioneers to acquire an office for their company without a ten-year plan.
Use The Space You Need
Why rent a whole office if one desk is all you need? Coworking allows you to pay for only what suits your needs at the time. Start small, with a floating desk, and move to a dedicated desk cluster or even a private office once your business is off the ground. New employee in another city? No problem. Just get a floating desk at a coworking location that suits them. A coworking membership means your business is free to grow and fluctuate without the risk of having to sign on for an expensive lease.
Collaborative Environment
One of the driving principles behind coworking is the idea that putting a bunch of hardworking creatives in one big room is bound to spark ground-breaking collaboration. Rather than working in isolation, many young professionals prefer to share workspace with others in their field and beyond. This multidisciplinary melting pot lets you bounce ideas around with people who have different perspectives and skills to offer. Need a web designer? Ask the person sitting next to you—you’ve already looked over their shoulder and seen their amazing work. Why not grab a coffee together and chat about your project? The informal nature of coworking spaces fosters natural collaboration, which has helped many small companies break the mould.
Networking Opportunities
It’s not what you know, but who you know. That old adage still holds true in the business world, especially in the startup environment. One of the big downsides of working from home is the lack of networking opportunities. Successful coworking companies like WeWork have catered to this need by offering a varied and interesting calendar of networking events around members’ interests. Whether it’s an interesting speaker on a business topic or organising volunteering opportunities, coworking spaces offer natural ways to connect with others and build solid professional relationships.
The Cons of Coworking Space
While coworking has taken the workspace world by storm, this solution is not perfect for every business. Here’s why.
Privacy is Lost
If privacy concerns could make or break your business, a coworking space is probably not for you. Working in a shared space means people who are not in your company and do not have clearance for the data you work with might be able to see your screen as they stroll past your desk or stop by for a chat. Coworking won’t suit you if leaving your desk to grab a coffee will make you anxious because of the paperwork you’ve left next to your laptop. Likewise, if you spend a lot of time on the phone to clients, you won’t be able to discuss sensitive matters. Most coworking spaces offer phone booths for private calls, but this works best for people who only need to make a couple of calls per day.
Distractions
While most coworking providers have designated quiet areas, most floating or dedicated desks are situated amidst the hubbub of the coworking floor, which can be motivating for some, but distracting for others who require silence to concentrate.
Branding
Many coworking spaces are brand-free, which means you may not be able to display your logo or brand material. This may not bother you at first, but as your company grows, you may wish to accent your office décor with your brand and make your workspace a more authentic home for your business. At this stage, it might be the time to leave the coworking nest.
Whether you’re a freelancer or an entrepreneur, coworking could be the solution you need until you can afford your own office. These tips will help you work out if coworking is for you.
