Co-working, or “shared” office space, is one of the hottest growth trends of the current year and it doesn’t seem to be slowing down. What once used to seem like a foreign and exclusive concept, is now on the verge of making traditional office settings a thing of the past. As the rising success of co-working makes its presence felt in countries across the world, even private business entities are getting involved in this industry to get a slice of the pie!
This is largely due in part to the fact that co-working spaces place a significant emphasis on client retention and the overall user experience of the space itself. These spaces are attractive and full of amenities, so can you argue the statistics even?
Below we have compiled a list of the top five reasons why co-working spaces are worth considering. Obviously, you have to do your due diligence in seeing the place with your own eyes and determining if it fits your specific demands, but these five things to consider should paramount to your decision. This is a big step for any working professional and being thorough in your search is essential!
1. Eliminate Your Upfront Costs With Less Risk
The most gut-wrenching moment of purchasing any property is when they finally take that down payment out of your hands for the first time. For some people, when the down payment on your property gets processed, it serves the moment of reality. It’s that moment when they take your money and apply it to the beginning of your future. When they take that large amount of money – that’s more than you’ve ever seen in your life in one individual transaction – the moment you realize what type of financial commitment you just made becomes real.
So how do you avoid front money? Well, renting or leasing a co-working space is quite possibly your most attractive option. With no preliminary commitment to drain your bank account just so you can make a deposit, the financial implications of a co-working space provide working professionals with…
- The ability to eliminate any type of upfront investment such as capital or a down payment.
- More financial flexibility so that you can apply funds towards better facilities or packages.
- Incentives to apply any saved costs into an investment towards your own business.
2. The Potential For All-Inclusive Perks
Remember back in college when your dorm room came fully furnished and all you had to do was decorate it? You just had to put your own personal imprint on the space and just like that it was “yours.” Well, co-working spaces are similar to that concept because they provide working professionals with a turn-key office space solution. This takes out any responsibility to plan the blueprint of your space because everything, for the most part, is provided for you. Any stressful decision making about what type of furniture you’re going to have or what color the walls are will just simply go out the window.
Working professionals who choose co-working spaces are provided with unique all-inclusive perks that provide them with access to features such as…
- Fully furnished square-footage that comes complete with an abundance of tables, desks, chairs, couches and ping pong tables. Spare yourself the trip to IKEA or the mindless online window shopping at Wayfair – all the aesthetic work has been taken care of.
- Professional office necessities like conference rooms, glass-encased professional suites, privacy-centric cubicles and restroom facilities.
- Amenities that focus on client retention, such as on-site cafes and surfboard storage/rental.
3. No Long-Term Commitment Necessary
When you’re looking for a workspace that you can call your own, sometimes you can get caught up in the idea of buying something. I get it, you want to be able to actually “call” it your own. But even so, the term “rent” or “lease” should not deter working professionals from seeking an alternative kind of space that they can still call their own. There is a societal complex that suggests we can only call something our own once we buy it, but I can assure you that such a concept goes out the window once you consider co-working as a realistic option.
Why ignore your better intuition of risk management just because you’re not the outright owner of your workspace? With no long-term commitment to your co-working space, it’s time to ignore the impracticality of owning a space. I’m especially talking to those of you who are still on the ground level! Co-working spaces provide working professionals with…
- The ability to act on a month-to-month basis in case anything doesn’t work out.
- Increased flexibility during circumstantial changes.
- No obligations or difficulty vacating your space.
4. A Wealth of Knowledge At Arm’s Length
The best part about a co-working space is that you, the renter or lessee, can dictate how much or how little interaction you have with the professionals around you. Some people enjoy being social butterflies in a communal workspace, and some like to keep to themselves and do it solely so they’re not cooped up at home all day long. Regardless of where you stand, the fact of the matter is that co-working spaces are a centralized location for creativity, inventiveness and blossoming knowledge. The benefits of being surrounded by a treasure trove of successful niche-specific individuals who have knowledge in fields you may need to know about are priceless.
It’s important to take advantage of the resources you have around you, and at a co-working space, you’re in great company. Off-site employees and independent contractors can network themselves to the best of their ability at co-working spaces because…
- Most facilities offer team-building activities that emphasize camaraderie in the workplace through mixers, retreats and in-house ping pong tournaments.
- Co-working spaces are a breeding ground for knowledge and innovation, so you can pick the brain of a niche-specific professional at arm’s reach and receive expert advice.
- Having the ability to network yourself with an office full of respected experts in their field is worth more than any possible sum of money a downpayment would cost.
5. This Is a Burgeoning, Worldwide Industry
Just because you only have one co-working space in your town, it doesn’t mean that the market for alternative workspaces is small. If anything, it is the exact opposite! The concept of co-working has gained significant traction within the last couple of years and the trend is only pushing forward with more momentum.
Co-working has now become a worldwide way of working and soon enough, it’ll make its presence against traditional office settings even more. With millions of dollars being dedicated to the purchase of real estate property for co-working spaces this year along, there is no slowing down happening anytime soon.