Co-working spaces are a newer concept, relatively speaking. Born in the 90’s to bring like-minded individuals to the same working office, co-working spaces tend to house many different types of businesses and teams.
Why are co-working spaces so popular?
Despite the idea being relatively new, the popularity of a co-working space is a good sign of how useful they area. But what makes these offices so popular? They fill a need for remote workers and small teams to collaborate with others while saving money in rent.
Sounds pretty good, right? Of course! Who wouldn’t want to save their capital while getting to network with other like-minded folks?
Before you decide whether or not to rent a co-working space, let’s consider the pros and cons:
Sometimes, working from home can be lonely. You may or may not enjoy working without any company around, but eventually, you may start to feel lonely and isolated.
With a co-working space, you get the opportunity to collaborate with like-minded, professional, and creative people every day. Gone are the days of slaving away at a computer in your yoga pants with only a pet to keep you company. With the co-working space, you can network and meet with people who you may not have ever met otherwise. It's even better if these people can help fill holes in your team by offering up their expertise.
Dependable internet. Companies offering co-working spaces should offer you amenities, the least of these reliable, high-speed internet.
The cons of coworking really tend to happen if you choose the wrong space. Amenities may be lacking. If you have to bring your laptop, use your own phone, and walk down the street to a fax something, you may as well be doing your work at home. You'll have just as much of a hard time there.
If the co-working space is too far away, or has a bad commute, you may find yourself spending more time at home than at your rented office. Look for a co-working space that doesn’t involve a long commute to make it worth your money.
Now that we’ve explored some of the pros and cons, let’s discuss specific questions.
What about my privacy?
It's very important that your company is concerned about protecting your assets. While a co-working space is great for networking, having all of those people around your laptop could be dangerous if you don’t trust the people in your co-working space.
It's important to choose a coworking space that has a staff who regularly checks in and maintains a good working environment. Having that staff in place will help you feel more secure.
What about your office supply needs?
While our co-working spaces include everything an office needs to run, not all co-working spaces are created equal. Not all co-working offices operate with high-speed Internet, a full-service espresso bar, and private phone booths; not every office can offer you the same thing.
Before you consider moving your employees to a co-working space, ask about office amenities to see if you’ll be fully accommodated, or lacking some crucial office equipment, or little luxuries that you've come to expect. If the co-working space can’t offer you conference rooms, strong internet, or coffee, you may want to think twice. Luckily, we at 580 Executive can offer you all of this, plus much more.
Is co-working cost effective?
Have you looked at office space prices in the Bay Area lately? You may have been shocked to see the price, and annoyed to learn that most come with a long-term lease requirement.
Co-working spaces can definitely cut the cost of office rent. Because you’re sharing the space with other people/companies, you’re also essentially splitting the rent.
But if your co-working space is not easy to get to, doesn’t offer parking, and requires your employees to spend money on commuting costs, it may not be the cost-saver you’re after, so you might want to look at other coworking spaces.