Trends can be peculiar and unpredictable. It’s often as difficult to to tell what makes something :trendy” or fashionable this year as it is to understand why the same item or style falls out of popularity the next year. But I do know that when my neckties go out of style because they’re too wide or too narrow, if I hang on to them, they’ll be stylish again at some point in time.
There’s no question that co-working spaces are a current trend. If you do freelance work, or you manage a staff that includes remote workers, it would be almost impossible not to have heard of them. But are co-working spaces simply another passing trend that will be forgotten about after another year or two? Or are they an enduring solution with lasting value?
Here at 580 Executive Center, we say it’s the latter. And here are some of the reasons why co-working spaces are, in fact, here to stay:
The number of us that don’t need our own office is increasing.
There are a couple of trends worth looking at here: The advent of ubiquitous, always-on, high-speed internet connectivity, and the so-called “cloud”, in which all our information can be stored. These have basically made it possible for many of us to do our work from almost anywhere, as evidenced by the rise in the number of people who work remotely. Co-working spaces can be an affordable way to allow individuals or small teams to work in a professional setting without maintaining a dedicated office of your own.
And so are commercial rents.
It’s a fact of life everywhere, but it’s especially true here in the Bay Area. Commercial rents have been increasing steadily, with little indication that this trend is going to change any time soon. For a small group, a startup company, or a freelancer, the cost of renting an office can be prohibitive. Co-working spaces offer a viable solution, providing all the necessary functionality and amenities, often at a fraction of the cost of getting your own space.
It’s more of a professional environment than working from home.
These days, lots of folks seem to really want to work from home. There’s certainly an allure to being able to stay in your own space, take conference calls while still wearing your PJs, and not needing to commute. But sometimes the luster wears off once you have to deal with the usual set of distractions at home. And what happens when you have to meet a business contact? A co-working space gives you a professional setting in which you can function as a professional, surrounded by other professionals.
Co-working spaces may be a trend, in that they’re on the rise. But we think they’ll remain a valuable asset for the business world for years to come. Interested in learning more? Give us a call to see if this is the right solution for you.