Lately, the idea of coworking spaces has become extremely trendy, especially for Millennials and aspiring entrepreneurs. If you’re considering a coworking space on Long Island, it may be wise for you to take a look at this article to help decide if you and your business would benefit most from a co-working space, or if a private office is better suited to your needs.
Co-working Space Versus a Shared Office
First, it is important to note that a co-working space is not quite the same as a shared office. While there is significant a lot of overlap, there is just enough of a difference that it is worth making a distinction between the two.
In a co-working space, there is a fee for membership. You will typically get
- a clean, designated desk that allows you plenty of space,
- access to wall outlets,
- free snacks and fresh coffee.
Most co-working spaces also have the option of paying a bit extra to reserve a desk with a locker that allows you to store sensitive items at your space. You will also have access to tools like a printer, copier, and fax machine, which can save you a lot of money and stress. Many spaces also offer conference suites and meeting rooms, that which allow you to meet with clients in a more professional and formal environment.
Shared office spaces are just a bit different. Sharing an office space with other businesses will give you a bit more privacy and allow your growing business to remain a cohesive unit, but it will free you from the burden of being locked into a long, traditional office building lease.
Typically, you will have your own block of space that is specifically devoted to your business, but you will not have to worry about things like hiring a receptionist or an office manager, as they are because they will already be provided in the coworking center. You’ll also still have access to all of the same great perks as a co-working space, even down to the snacks, coffee and water cooler. This allows a growing business the flexibility to upsize or downsize the office space without worrying over possible financial hardships.
Pros of a Coworking Space
If you fall into the freelancer or start-up category, usually co-working is the right choice for you because it is the most efficient and cost-effective way to get what you need. These spaces provide separation between your work and home life without bogging you down with a bunch of extra overhead.
Another benefit to co-working is the social aspect of it. Yes, it is primarily a business space, but it prevents isolation and pushes you to be more productive. It also allows for more networking opportunities that you may not have otherwise had.
Pros of a Private Office
The biggest benefit to a private space is the control aspect. With your own office, you have complete say over the layout and composition of your workspace.
Another benefit is the boost to your business image. When you have offices that are strictly owned and operated by your organization, it does lend a certain level of confidence that you may not get with a shared space. Some experts say that a brick-and-mortar office can also give clients the impression that you are confident in your company’s ability to stick around for the long term.
In the end, choosing between a co-working space or a private office is largely a matter of preference and financials. While there are pros and cons to each type of workspace, you will likely be able to quickly sort out which category your business falls into and which space you will ultimately benefit most from.