Not Sold On Coworking Yet? Here’s 5 Reasons To Get On Board With It!
As an entrepreneur, working from home may seem like the best option. However, it isn’t for everyone. Working from home does have its drawbacks, from distractions at home to loneliness. If expansion is in your future, working from home isn’t exactly practical. A coworking space can be exactly what an entrepreneur needs to be successful and grow a business.
Coworking is a style of work space that involves a shared working environment, yet independent activity. Unlike the typical office environment, a coworking space is generally shared by individuals from different organizations and professions.
Below are five distinct advantages of using a coworking space.
1. Cheaper Space
Traditional office spaces can be quite expensive and require several years of commitment. It’s not necessarily an expense an entrepreneur wants to undertake when just starting a business.
Coworking spaces are much more economical, where all you owe is a simple membership fee. A coworking space can mean a substantial savings over a traditional office. In most cases, a business can save 75 percent in total costs. Instead of paying an expensive lease, those who utilize coworking spaces pay a membership fee which drastically reduces cost.
2. Better Location and Work Space
Coworking spaces are located in some of the most desirable buildings and offer excellent work spaces. This includes prime downtown real estate that would not be affordable for many entrepreneurs. The price per square foot one can get from a coworking space is certainly unmatched.
3. Amenities and Utilities Included
When leasing from a traditional office space, tenants are responsible for all utilities, supplies and amenities. In the case of coworking spaces, offices are shared, so that means utilities like water and Internet are typically included. Amenities such as coffee and work supplies are often included as well. All of this goes a long way in reducing cost.
Coworking spaces offer plenty of flexibility from weekly rates to month-to-month memberships. If you were to work in a traditional office space you would be locked into a lengthy and expensive lease for years. If your business grows, you have the flexibility with a coworking space to add more room. If you have too much space, you can easily downgrade without penalty. This type of flexibility cannot be found in a typical office space.
Coworking spaces allow for easy networking. With open floor spaces and an array of entrepreneurs all in one place, it is much easier to network and get to know other professionals within the confines of your workspace.
There are several advantages of using coworking space as an entrepreneur. It all depends on what you feel comfortable with the most. There are big differences in working in a coworking space compared with a private working office. There is plenty of value working in an open community setting. Many believe it’s the one place they can be the most creative.