5 Pros and Cons of Coworking Space

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The number of individuals using a coworking space is absolutely exploding. Whether you’re a remote worker or you’re an entrepreneur trying to get your small business off the ground, coworking spaces provide a number of benefits, but there are also some drawbacks for some. Should you begin the search for a coworking space to meet your needs? Take a look at the pros and cons of coworking space options in your area. 

  1. The Cost

Coworking spaces come with associated fees. You can expect to pay anywhere from $50 to $1000 per month for the right space to meet your needs. 

Pro: The cost is incredibly reasonable when you look at other traditional office spaces. In most cases, coworking buildings are situated in trendy downtown areas that usually have incredibly high rent prices, but because they’re coworking spaces, you’ll get great prices. 

Con: The prices charged may still be too much if you’re just trying to get your company off the ground. Fortunately, you can still usually use at least parts of these facilities for a reasonable price. For example, you can reserve them as a business address or just use their conference rooms as they become necessary for your growing business. 

2) The People

Thousands of other people have decided coworking is the right opportunity for them, so when you reserve a coworking space, you’ll be surrounded by other like-minded individuals. 

Pro: For many, this is a key coworking advantage. Every day you go to work with people who have great ideas and really want to get things done. You can take advantage of the knowledge of mentors and gain networking opportunities you can’t get anywhere else. There are people there who notice you, how hard you’re working, and you’ll be part of a culture that is recreating the way people work today. 

Con: It’s distracting. At home, you may have an amazing quiet space you can use when you just need to focus. In your coworking space, distractions abound. A round of foosball, anyone? Fortunately, coworking spaces are also incredibly flexible, so while you may get easily distracted, you can probably also find a quiet corner where you can get things done faster. 

3) The Amenities

No matter what you want in an office, it’s likely available in a coworking space. Most offer free coffee, but some are also stocked with free snacks. You can also find dog-friendly office spaces, free parking, massages, rock walls, game rooms, and more. 

Pro: You’re not going to have access to all of those amenities in any office space you rent. It can mean a great way to refocus and re-energize when you need it the most. It may also save you money when it comes to other parts of your life – like a gym membership. 

Con: Not all spaces have those perks available. Moreover, you need to consider how many of the perks you may actually use. Those extra bonuses can come at a real cost to your company. 

4) The Space

Coworking space is just that – a place to work. It should be packed with desks, office furniture, projectors, copiers, and all of the other equipment you need to move your business forward. 

Pro: While office rent can be expensive, so too can the furniture and supplies you need to keep your business running. Coworking spaces often give you access to all of those things at no extra cost. 

Con: You’re at the mercy of what the space itself has to offer. You’re not responsible for the copier, so if it stays broken for days on end, you can’t simply call the repair guy to have it fixed. You just have to deal with what’s available in the space. 

5) The Flexibility

In a coworking space, you have continual access to lots of different spaces, and you can get to them at almost any time of the day or night. If you need to start at 5 a.m. so you can finish by 1 p.m., that’s an option for you. If you need to do an overnight conference call with international clients, that’s an option too. 

Pro: Flexibility is literally why you’re doing business on your own, and it can mean you run your business how and why you want. 

Cons: It’s not your space, and it can change. Desks can be rearranged, and you may not be able to catch your favorite spot on a daily basis if you don’t have a private office reserved. Moreover, you may get interrupted by the meetings of others or the changes in the various companies. While that ever-changing feel is great for some, for others, it’s just not a way to stay productive.

Coworking spaces aren’t for everyone, so the pros and cons of coworking spaces have to be considered. If you find that they might be the ideal way to get your business off the ground and give you the space you need, contact us today.