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The Differences Between A Co-Working Space and Renting an Office Suite

Posted on Dec 18, 2017 9:00:00 AM by Ryan Ring

Co-Working vs Office Suites | 580 Business CenterThe business world is changing rapidly. People are starting to reanalyze the way they do things, to make sure they’ve made the best decision when it comes to their company. One factor business owners are starting to change is the office environment. Cubicles and private offices are no longer the only option people have when it comes to workspaces. One big trend in office spaces are co-working spaces.

What are co-working spaces?

A co-working space is an open office that employees from different companies work in. This includes amenities such as open areas, private areas, coffee, and conference rooms that can be rented hourly. In a co-working space, startups work next to other startups.

Is this a lasting trend?

A lot of companies are starting to see the value of renting shared spaces over traditional office suites. With benefits like increased productivity, great networking and lower rent, co-working is a change that’s here to stay.

Is coworking right for my company?

If you’re trying to figure out if coworking is the right move for your business, ask the following questions.

Does a coworking space have everything I’ll need?

Not all coworking spaces are created equal. Think about the things your business uses on a daily basis: high-speed Internet, coffee, areas where people can make private phone and video calls, a place to meet with clients. When you start looking into coworking it’s important that you check to make sure the space you choose includes all the resources you’ll need to keep your business running smoothly.

Making a transition to a new work environment can be tough on a company, but making sure that all the essential supplies and little luxuries you enjoyed at your former office are provided in your new space will make things so much easier.

Is coworking a good fit, financially?

Coworking is a great way to bring down costs. Since you’re sharing space with other businesses, you’re also essentially splitting the cost of rent with them. This can be a major benefit, especially for companies in the Bay Area, where rent prices are skyrocketing.

However, there are still factors to consider when making sure that switching to a coworking space is financially viable. Is the space hard to get to? Will you have to pay extra for parking? Commuting costs add up, so make sure your new space is conveniently located.

 Is coworking the right fit for my company, culturally?

Moving your company to a coworking space is an adjustment. This environment is designed to encourage creativity and productivity. You’ll have more of an opportunity to network and bounce ideas off of likeminded people from different industries. If this seems like something that would benefit your employees and company in the long run, coworking might be the perfect way to take your company to the next level. To read more about coworking spaces, and make sure you choose the right one check out our free eBook "What to Look For in a Co-working Space"


 Why Co-working Spaces Promote A Healthy Work-Life Balance



Topics: Coworking