For many people, co-working spaces have become an integral part of their professional lives. They provide all the benefits of working from home but with the bonus of fostering community and collaboration. But like anything, co-working also has its pros and cons. Here are a few things to remember before signing up for a membership.
What is a Co-Working Space?
A co-working space is an office where people from various companies and backgrounds work together in a collaborative environment. Co-working spaces are often used by freelancers, entrepreneurs, and remote workers, as they offer a variety of benefits that aren’t found in traditional offices. These benefits can include:
- Access to a community of like-minded professionals
- Reduced costs compared to traditional office space
- Flexible lease terms
- Opportunities to collaborate and network
The Pros of Co-Working Spaces
There are many pros to working in a co-working space. Co-working allows for collaboration, networking, and community building. Amazing things can happen when people can work together in an environment that stimulates creativity and productivity.
Co-working spaces are great for collaboration. When working in close quarters with other people, you’re more likely to share ideas and work together on projects. It can lead to increased productivity and creativity.
Greater Networking Opportunities:
Co-working spaces are perfect for networking. You can connect with essential people, which often leads to various opportunities and potential for growth.
Co-working spaces have a lot of prominent personalities who are always pursuing their start-ups or projects. The chances are high that you gain exposure to fields beyond your horizon by meeting such vibrant individuals from different walks of life.
Meet New People:
Co-working spaces allow workers to interact with others in person and, as a result, widen their social circle too! You can also call it a casual business lunch setting!
Solo working places can be quite expensive for someone with a budget. But, working at a co-working space can help you save the money spent on renting out office spaces individually or booking meeting rooms separately from time to time and many other regular expenses like printer’s cartridge, upkeep & maintenance etc. At Stratus Offices, we have only one goal: to make our members happy & efficient while remaining focused on work. Instead, we rather have our members not have to worry about office-related expenses because we understand every penny counts when you’re running a start-up business!
The Cons of Co-Working Spaces
The co-working space trend is growing in popularity as companies see the value in having employees work from a central, collaborative space. However, some definite cons to co-working exist and should be considered before signing up.
The first con is noise levels. In a traditional office setting, each employee has a cubicle or office to work in to focus on their tasks. The way co-working spaces are set up doesn’t make that possible since everyone works in the same room. It can be extremely distracting and lead to decreased productivity.
The second con is the lack of privacy. Co-workers will know when you’re at your desk and can sometimes interrupt you more easily than businesses in shared workspaces.
The bottom line is that it depends on what kind of business you own. A home office might make perfect sense if your principal place of business is not on-site and if you do a lot of online work. A virtual office may be more suitable if you have team collaboration or client meetings, but the property management or office administration is better handled off-site or online. If both are good options for your business, find out how they stack up against each other regarding price, location and amenities to decide which is best for your company and workplace needs.
Whether a Co-Working Space is Right for You
There are a lot of factors to consider when choosing a co-working space. The first step is to assess your needs and what you’re looking for in a workspace. Are you looking for a space to work from occasionally? Do you need a permanent office? Do you want to be around other people or prefer more privacy?
The next step is to do your research. There are a lot of co-working spaces out there, and they all have their unique vibe and set of amenities. Visit some different spaces and see which ones feel like the right fit for you.
The Cost of Co-Working Spaces
Depending on the city you reside in, the cost of co-working spaces can vary. Generally, membership prices range from $50 to $200 per month. This price includes access to a desk, Wi-Fi, and other office amenities.
Some co-working spaces offer discounts for members who want to use the space for more than one day per week. And others offer discounts for members who pre-pay for a certain number of months in advance. Do ask about these when you compare memberships from different co-working spaces. It’s also prudent to ask about any special promotions a space might be running when you inquire about membership prices because the cost of joining might be lower than it normally is at those times.
There are some potential downsides to sharing an office with people who aren’t your co-workers (e.g., noise level, privacy issues, etc.). Still, people have said positive things about their experience working in co-working spaces. For instance, they’ve found that they’re more productive in a work environment where they can socialize with others and connect while still getting things done on their schedule. Tests on metrics such as task completion and creative thinking have borne this out.
There are many pros and cons to working in a co-working space compared to look for an office rental in Calgary. This article looked at both sides of the argument and provided insightful, handy tips on determining if a co-working space is right for you. If you are interested in checking out a co-working space, book an appointment today and visit our co-working space in Calgary and shared office space in Edmonton.