While co-working office spaces have long been considered solely for freelancers and startups, recent statistics show that this flexible workspace is gaining serious traction amongst companies of all kinds. According to data released by Statista Research Department, around 542,000 people were working in co-working spaces across the United States back in 2017. This number is forecasted to increase to 1.08 million people in 2022. So what’s all the fuss about this office layout, and should you consider one for your own business?
Today, iSpace Office Interiors will be discussing the pros and cons of co-working office spaces. If you’re considering moving your own business to an open floorplan, review this list of pros and cons first to ensure you’re making the right decision. It’s no secret that group work settings aren’t always best for every type of business, but when done properly, this type of office layout may be one of the best financial business decisions you’ve made yet!
Should Your Business Move to a Co-working Space?
Pro #1: Co-working Office Spaces Are Sometimes More Affordable
The first pro that you should consider when it comes to co-working areas is that it can be much more affordable than leasing dedicated office space. Unfortunately, the cost of leasing office space is high, and it’s expected only to increase as the years go on. Additionally, when you think about all of the extra expenses of making office space suitable for business operations, these costs climb even higher.
When you operate in a co-working space, you’re likely to find it to be a much more cost-effective option. That being said, renting a co-working space will vary in price, depending on various factors such as the facility you’ll be working in and the location of that facility. Still, co-working spaces are typically much more inexpensive than dedicated office spaces. For example, WeWork (a company that offers these offices worldwide) offers plans for as little as $220 per month. If you’re looking for an office space that won’t break the bank, co-working spaces are something to consider.
Pro #2: Fostering a Sense of Community
Another pro of co-working office spaces is their ability to foster a greater sense of community. Since the pandemic started, many of us have realized that while working from home can be convenient and comfortable, it can also feel incredibly lonely and isolating. Operating in a co-working building gives you and your employees the chance to make valuable connections that could benefit your business in ways you couldn’t have possibly imagined! When your company joins a co-working space, you’ll quickly find that there is a greater opportunity to network, share ideas, and support other professionals.
Pro #3: Amenities Provided By These Spaces
There are certain amenities provided by co-working office spaces that could be particularly valuable to your business. One perk that must be mentioned is that they’re often well-equipped with everything you need to run your business. Typical you’ll have everything from more office space for office equipment to a reliable internet connection to furnished meeting areas. Some spaces even provide lounges, coffee, and snacks for you and your employees to enjoy! If you own a small business and these types of amenities are things you’d like to offer to your employees, this type of office arrangement will likely be a good fit for you.
Pro #4: Improvements Are Being Made to Co-working Spaces Consistently
Due to the growing popularity of co-working offices, there is an increased number of options available to choose from. According to data from the Global Co-working Unconference Conference, the number of professionals choosing co-working areas for day-to-day business operations is rising by 24 percent each year.
As a result of the increase in popularity, not only are more spaces becoming available to businesses, but co-working companies are expanding the features they offer to remain competitive. If you’re interested in a space of your own, there’s no better time than now to start looking for one that fits your unique needs.
What You May Want to Consider About Co-working Spaces
Con #1: Affordable But Could Still Be Out of Budget For Some
While there are many pros to co-working spaces, there are still some crucial cons to remember before making your final decision. For one, while this office choice tends to be more affordable than leasing office space, it may still be too great of an expense for your unique budget. This is especially true for self-employed individuals as they may not have the flexibility in their budgets to justify paying monthly for a co-working space.
Con #2: Some Limitations Exist
There may be certain limitations on how the space is used in a co-working space. Depending on the area you choose, you’ll have different options for the type of space you receive. Some options will provide more security, space, and privacy than others. To make a co-working office space work for you, you’ll need to assess what you need in terms of space carefully. Otherwise, you may find that your co-working area doesn’t offer what you need to work efficiently.
Con #3: Prone to Distractions
While working around other people has been shown to increase productivity, co-working spaces also carry the risk of being a distracting environment for your employees. Within a co-working space, you won’t have control over the volume of companies occupying the same area. In your own dedicated office space, you’re able to set the rules, but a co-working space takes this control out of your hands. You’ll have to be prepared for distractions that you can’t necessarily do anything about when you choose a co-working space for you and your employees.
Con #4: Restrictions On Customizing Your Workspace
Finally, while a considerable benefit is found in an office space that is already furnished and equipped with the most crucial amenities, a co-working space also limits your options for customizing your workspace. For example, you likely won’t be allowed to decorate with your favorite artwork or bring in your favorite comfy office chair. If this is important to your business, a co-working space may be too restrictive.
Experience the Benefits of Office Furniture Designed to Support You With iSpace Office Interiors
Now that you understand the main pros and cons of co-working office spaces, you have all of the information you need to make a decision that best supports your business. Your office environment has so many impacts on the productivity, comfort, and happiness of you and your employees. Here at iSpace Office Interiors, we know how vital the right atmosphere is for your business operations. That’s why we provide office furniture designed to support you in more ways than one!
iSpace Office Interiors offers a wide variety of furniture services, including delivery and installation, interior design and office remodeling, ergonomic analysis, and much more. We also provide a robust inventory of premium office furniture that is reliable, well-made, and attractive. Trust the experts to create the office space you need to go above and beyond! The right office furniture and office design make all the difference.
Contact us today to get a quote or start your FREE space planning journey! We look forward to assisting you.
Photo by Annie Spratt on Unsplash