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Times are changing in the world we live in today. Since the COVID-19 crisis, many industries have shifted to remote operations. Things are shifting from virtual apartment tours in real estate to work-from-home operations to a full-on digital experience. That said, as we move forward and many huge offices close their doors, coworking spaces will become even more popular.
The term coworking in the current vernacular was coined in 1995 by Bernie DeKoven to describe a working environment where individuals do not necessarily work for the same company. The model provides individuals or groups with shared workspaces or offices.
The coworking space owner usually offers various amenities in a typical office setting, like copiers, ultra-high-speed internet service, professionally maintained bathrooms, waste disposal services, and quick access to mail; some sites have shared and staffed reception areas.
Table of Contents
Who Are Coworkers?
The people who use coworking spaces are generally self-employed telecommuters or freelance workers. Often, a large corporation will rent coworking space for project employees who do not have brick-and-mortar offices. The benefits provided by coworking spaces can draw a variety of people who may not be able to afford or may not want the responsibility of maintaining their own offices.
Benefits of Coworking Spaces
Self-motivated people do not need an office manager to note when they arrive at work each day or leave. Coworking spaces allow those who are self-employed or are remote workers to come and go at will. Anyone who works remotely could stay home and work, but there are disadvantages to that, and coworking spaces could be a good solution.
When working at home, you wake up, make coffee, check emails, do a load of laundry, take the dog for a walk, answer emails, your mom calls, you remember that you need a few things at the store, you write up a proposal, change the laundry, wonder if you need to change out of your pajamas, etc. and so the day goes. This type of day severely decreases your productivity.
Working from your kitchen table may sound great—hey, no travel time—but there can be too many distractions when you work from home. Aside from non-work-related interruptions, there is the issue of loneliness and the sense of isolation associated with working alone from home. A coworking space affords a sense of community and increases productivity; there is no laundry to fold there.
Using coworking spaces allows you to separate your home and work a much healthier life fully. It reduces the stress and burnout that can occur when doing both housework and regular work simultaneously. Coworking also allows one to network with other professionals who rent space at your location.
Amenities of a Coworking Space
You can get work done without traditional office expenses like utilities, secretarial support, and assorted vendors like plant services, and you’ll be able to avoid property taxes. Suppose most of your work is done from your computer, or you move locations frequently. In that case, a coworking space can allow you the flexibility to work outside of your home without the obligations associated with real estate.
Most owners of coworking spaces understand that a large percentage of the workforce is nomadic, and that number increases yearly. You can rent a chair at a community table or a suite of private offices and avail yourself of the amenities provided. Potential perks at coworking facilities range from concierge-style office support, fitness equipment, grab-n-go beverage and snack services, conference and meeting rooms, and kitchens.
Before You Rent
Depending on the city you plan to work in, you may have to visit a few coworking sites to find the best place to serve your needs. Check the reviews of the management company. If the printer needs a new toner and no one can change it for a week, this may not be the spot for you. Make appointments to visit the site during regular business hours.
Talk to people currently renting space at the location to get a better sense of the atmosphere during working hours. Ascertain whether the situation is conducive to your work style. If space consists of rows of tables with chairs how are phone calls handled, are there quiet rooms for people who must be on the phone throughout the workday?
Finally, check the lease thoroughly before you sign. Many coworking sites offer month-to-month leases, but just like an apartment rental, there may be fees for not giving enough notice that you will vacate. This is the time to ask about bike and/or vehicle parking options and whether there is storage space for coats, umbrellas, and computer bags.
Flexibility
Shared workspaces offer many perks to the remote worker. Besides the snacks and sociability factors, it is easy to change your location. If you need more privacy, coworking spots are available with closed offices. If you need to be physically closer to your customers, all that needs to be done is find a different building in another part of town. Should you need to travel to a different city or country, shared workspaces are available in most countries worldwide.
The fact that most coworking spaces offer rentals for durations as little as a day, week, or month gives you the flexibility to arrange meetings in cities where you don’t live. This allows you to maintain professionalism when courting customers or engaging with company partners in other locations. Lawyers, designers, engineers, and consultants often need meeting places outside their main offices, and coworking sites can provide clean, well-maintained temporary locations with the office equipment often necessary to close a deal or embark on a new partnership.
Bonus Tip: If you don’t own an office building, you won’t ever need to worry about reading landlord guides to collaborate with tenants. At coworking, life is made simple by the owner.
If you have decided to try coworking and found a great facility in a nice location, make sure you respect others around you. Two universal coworking rules are:
- Don’t be the person who puts smelly food in the microwave!
- Don’t try to sell your product or service to others unless they approach you first.
While working at home may not be best for you, coworking can be a great alternative–make sure you are a good fit for your new location.
Frequently Asked Questions on Coworking Spaces
Why are more small businesses turning to coworking spaces?
Small businesses are embracing coworking spaces for their cost-effectiveness, flexibility, and collaborative environment. These spaces provide access to amenities like meeting rooms, high-speed internet, and networking opportunities without traditional office spaces’ overhead costs.
How do coworking spaces benefit small businesses?
Coworking spaces offer a dynamic environment that fosters creativity, productivity, and networking. They also provide opportunities for collaboration with like-minded professionals, access to resources, and the flexibility to scale up or down as needed.
What trends are shaping the coworking landscape?
Trends such as niche coworking spaces tailored to specific industries or demographics, the rise of hybrid work models, and increased emphasis on wellness amenities are shaping the modern coworking landscape, catering to the evolving needs of small businesses.
Are coworking spaces suitable for all types of businesses?
While coworking spaces are suitable for many types of businesses, they may not be ideal for those requiring specialized equipment or extensive privacy. However, for freelancers, startups, remote workers, and small teams, coworking spaces offer a conducive environment for growth and collaboration.
How can I find the right coworking space for my business?
To find the right coworking space, consider factors such as location, amenities, community vibe, pricing plans, and the specific needs of your business. Visit potential spaces, ask for trial periods, and seek feedback from current members to ensure it aligns with your goals and work style.
What are the potential drawbacks of coworking spaces?
Some potential drawbacks of coworking spaces include distractions from other members, lack of privacy for confidential meetings or calls, and potential competition for resources during peak hours. Assessing these factors and determining if coworking aligns with your business needs and preferences is important.
The article was originally published on May 29, 2020. Updated on April 24, 2024
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