Co-working Spaces: What Types Are Available Now
No matter the size of your business or what industry you're in, it's essential to establish flexible and appealing co-working spaces for your team. Coworking spaces come in all shapes and sizes, each with its unique benefits and drawbacks. For example, having a coworking space can help:
- Promote creativity and collaboration. When team members are working in close quarters, they're more likely to bounce ideas off of each other and come up with new solutions to gaps.
- Encourage productivity. A designated workspace can help team members stay focused and on task, rather than getting sidetracked by personal obligations or distractions in their home offices.
- Foster a sense of community. Co-working spaces offer a sense of community and connection that can be hard to find in traditional office settings. This can be especially beneficial for freelancers, entrepreneurs, and remote workers who often feel isolated from the rest of the workforce and want to discuss various topics, whether about generating 1099, creating W-2 forms, or making money out of your passion.
Factors to Consider in Choosing a Co-working Space
Location
The first thing you'll want to consider is the location of the coworking space. Ideally, it should be close to your office so team members can easily pop in and out. It should also be in a desirable area, with plenty of restaurants and shops nearby for when team members need a break.
A good location will always help make the coworking spaces more appealing. If you want to work along with others and save prices on an office, then you also want a prime location. It’s easier to connect with customers, and you will also find it much simpler to set up an office there. In addition, if the location is close to any transportation methods, it becomes even more appealing and sought-after, which is exactly what you need to go for!
Price
Price is always an important factor in coworking spaces. You'll want to find one that's affordable without compromising on quality or location. The reality is that most coworking spaces will have a similar price, but if it’s in a prime location, it might cost significantly more. Browsing prices for coworking spaces will give you a good idea of what you are getting for the money.
A rule of thumb here is to never go for the cheapest prices. Instead, you want to assess your needs and see what the location can offer. Most of the time, a median price tends to offer a good way to fulfill your needs and also not overpay. It might take a while to find the best value for money, and in the end that’s exactly the thing you need to focus on here.
Amenities
Amenities are another key consideration when choosing a coworking space. Make sure the space has everything your team needs, such as Wi-Fi, desks, private offices, and conference rooms. Most people want to ensure that the offices within coworking spaces are very easy to customize, because not everyone has the same requirements. So, it makes sense to think about customization, but also amenities and what kind of features that coworking space has.
Some coworking spaces come with very general amenities. However, you will find some that go the extra mile to offer you an exceptional quality and value for your money. And that’s the thing you want to consider, what amenities you need, and what’s optional from your perspective.
Size
The size of the coworking space is another important consideration. Make sure it's big enough to accommodate your team but not so big that it feels overwhelming or impersonal. Assessing the team size is a starting point, and you also want to think about possible expansions.
If your team size grows, will the coworking space be able to accommodate your larger team? If not, then can you move to another space without hampering your workflow? Thinking of the future is going to safeguard your business, because no business wants to constantly move its offices. That’s especially true if you use coworking spaces.
Type
The type of coworking space is also important to consider. Do you want a traditional co-working space with open desks and shared amenities? Or would you prefer a private office with all the amenities included? All these things might seem to have a minor impact, but it matters a lot. Since there are so many different styles and types of coworking spaces within a city, you always want to narrow down what is ideal for you. That’s why you want to have a list of requirements, and then identify what coworking spaces fit your needs.
Once you've considered these factors, it should be easier to choose the right coworking space for your business.
Types of Co-working Spaces
There are many types of co-working spaces to choose from depending on the needs and standards of the tenant. What's important is that you should do your research before settling on one. Performing your due diligence is crucial because it will help you focus specifically on the coworking space that might fit your needs. Here are some of the main types of coworking spaces you should consider.
Conventional Co-working Spaces
Conventional co-working spaces are characterized by permanent desks, cubicles, or rooms that are rented by individuals or groups. They usually come furnished with internet, printers, and other office amenities. The conventional co-working space is more formal and professional than other types because of its setup and lease agreements.
Full-Service Co-working Spaces
Unlike other co-working spaces, the full-service type has nicer amenities, as well as office equipment and furniture. In addition, they often provide cleaning and security services. This setup is perfect for those who want a more professional work environment without having to worry about the small things.
Corporate Co-working Spaces
This type caters to a more professional type of tenant, as it has dimmer lighting and less of a playful atmosphere. The furniture is also typically more expensive and less relaxed. Corporate co-working spaces are great for those who need to be near other professionals and want a quiet, focused work environment.
Private Co-working Spaces
Suppose you want a flexible space for employees concerned that being with other departments negatively impacts their work, or you want to keep everything under wraps for a project that is still in stealth mode. In that case, a private office is the answer.
In private co-working spaces, occupants are the only ones with access to the area and its contents. This type of office also includes conference rooms and other shared amenities. These private workspaces are better for industries that value security and privacy for their clients. It also makes sense if you are working on top-secret projects and you want to avoid any disclosure. Some coworking spaces will specifically provide this type of service, and there are certainly buyers for it.
Shared Co-Working Spaces
This type of space is best for those who want a budget-friendly area. After all, this has been the original concept behind co-working spaces! In a shared space, you can expect to have a desk, chair, and access to common areas like the kitchen and lounge. You will also likely be sharing the space with other professionals, which can be great for networking opportunities.
Industry-Specific
This is a niche type of co-working space best suited for freelancers and entrepreneurs in the same industry, such as web designers, accountants, or lawyers. This type of co-working space offers the opportunity to collaborate with others in your trade, share ideas and get advice.
Virtual Co-working Spaces
If your company works in a remote environment, having a virtual co-working space is a great way to connect with other professionals in a similar situation. Here, you can communicate and collaborate with others online without leaving your home.
Some virtual co-working spaces even offer face-to-face meetings, so you can get the benefits of working in a physical area without ever having to commute to the office. While it’s on the rise, demand for this type of service is very interesting and it delivers an exceptional return. It also shows that you’re getting an exciting quality, which can become an advantage from a business perspective.
Final Thoughts
To summarize, having a co-working space can help with productivity, networking, and more. However, there are some things to keep in mind when looking for a space and using one.
For example, it’s important to find the right co-working space that fits your conditions, budget, and location. So, do some research on the different types of co-working spaces available now and see which one would be the best fit for your needs. You have to understand that some coworking spaces only fit certain types of businesses, while others will just offer minimal services. Pricing is also something of concern, just like space and expansion capabilities should always be a factor. Take your time, assess all the coworking spaces you have access to, and then see what fits your needs. In the end, you won’t have a problem picking the right one according to your needs!
