Coworking spaces are helping to fill a much needed real estate gap for new ventures or individual workers that are seeking office space. These places offer temporary spaces to businesses or to freelancers and satellite employees that need to rent desk space. They also offer the chance to be part of a community of like-minded thinkers, with opportunities to take part in events that may move your business forward. As with any business decision, there are a lot of factors to consider when choosing a coworking space that affects not just your business’s ability to work and grow, but also the job satisfaction and overall happiness of your team. So to help guide your decision making, ask yourself the following key questions before choosing a coworking space
1) IS IT ECONOMICAL AND DOES IT COME UNDER YOUR BUDGET LEVEL?
If you’re a start-up or an entrepreneur, you should figure out if you will have the right amount of cash flow to afford office space. Always prefer picking coworking spaces that fit your budget and needs rather than swanky coworking spaces that are usually though fancy looking, are expensive.
When determining how much you’re willing to spend on a desk or office, keep in mind that nearly all prices listed exclude GST and that you’ll sometimes need to pay-as-you-go for access to amenities like meeting rooms. It is also very important to be clear about factors like what is included in your lease, what additional charges can occur, what is the deposit amount and so on
2) HOW MUCH SPACE DO YOU ACTUALLY NEED?
To start with, you need to find a coworking space with enough room for all of your employees to work. Take your business’s growth into account when deciding how much space you need. If you’re planning on building a larger team in a few years, make sure you will have enough room for the extra employees. Make sure your new workspace can support the technologies you need.
3) WHAT ARE THE SEATING OPTIONS PROVIDED?
Coworking spaces offer a variety of seating options and membership types. When choosing a seating option, think about what you will need to work effectively. While a hot desk may be ideal for someone who only needs a laptop to work, a designer who needs multiple monitors would likely prefer a dedicated desk because it’s just not practical to have to move that equipment around. There are also private cabins available for people who prefer some privacy. Make a list of the things you need to work and check them off as you go on your tour.
4) WHAT ELSE DO YOU GET WITH YOUR DESK?(AMENITIES AND FACILITIES)
Most coworking spaces offer free Wi-Fi and complimentary beverages like coffee and tea. Many coworking spaces also offer access to conference rooms or soundproof phone booths for private phone calls. Some spaces also host free events for their members. There will be times when you’ll want to take a conversation behind doors. Check with your coworking space and their membership levels to determine if they allow you access to private rooms or conference rooms/meeting rooms. Don’t forget to check if they have a backup server if the Wi-Fi goes down
5) WILL THE SPACE BE BENEFICIAL FOR YOUR BUSINESS AND YOUR
A coworking space will not solely belong to you. You’ll be surrounded by a few familiar faces, but also a rotating cast of companies, freelancers, and entrepreneurs who will come and go as they please. One of the greatest benefits of a coworking space is that you get to build connections with like-minded individuals. There has been a history of collaborative work that leads to partnerships between individuals who share coworking space. But over collaboration can hinder your productivity.
Standardization may be great for certain office-related tasks; but if your business needs space to really spread its wings into creating physical products, then a coworking space might not be right for you. Define what kind of environment works best for you before choosing a coworking space that reflects that.