How Do I Choose Between A New Office Location And A Coworking Space?
Coworking Space vs. Traditional Office Space: Which Is Right for You?
When you select a physical location for your business, you can either go with a traditional office or a coworking space. Each has its pros and cons, but the right choice depends on the type of company you have, the production target and how consumers want your business to be viewed.
If you are trying to decide between a coworking space for your company and a traditional office room, here is what you need to know:
Coworking spaces often have an open concept layout, and they are shared with anyone who is a space member. The rooms are typically filled with comfortable chairs, shared devices such as printers and Wi-Fi, and even free coffee to ensure an atmosphere of collaboration and connectivity.
Pros of coworking spaces:
- Varied workspace. Coworking spaces allow individuals to move around within the area.
- Collaboration and networking opportunities. There are many opportunities to meet individuals who you may not have met otherwise.
- No miscellaneous outlays. Fees cover items such as insurance, repairs, and furniture. There are no high upfront costs or long term undertakings. You can pay month-to-month, or you can choose a different plan depending on your choice of room.
- Built-in management. You don’t need to worry about office management.
Cons of coworking spaces:
- There are less onerous choices. Although coworking spaces appear to be more economical than traditional offices, they are still more costly than homework or coffee shop jobs.
- Crowded areas. There are tons of people around, which could be distracting.
- Lack of personal branding. The space might not be the best place to hold a meeting with clients if you want to present a professional branded image.
- Unavailable shared spaces. You are sharing resources and meeting rooms with other co-working members, so you might not have those assets available whenever you need them.
Traditional office space
Traditional office spaces are designed for efficiency and concentration and are a private headquarters for your company. The layout may be usable as a coworking space, but you also have the option of splitting it up into individual cubicles or offices. Group meetings are designated conference rooms, and you have complete control over your technology and other resources.
Pros of traditional offices:
- Privacy. Office spaces and meeting rooms offer quiet, professional environments with fewer distractions and scheduling conflicts.
- Individual production. Rather than the collaboration and networking that happens in coworking spaces, traditional offices encourage individual work.
- Professional client-facing environment. Confidentiality and privacy are maintained for clients.
- Personal branding. The entire office space encapsulates your brand.
Cons of traditional offices:
- Less networking opportunities. There are fewer opportunities to network with individuals outside your industry.
- Separation. Cubicles/individual offices create barriers between employees, essentially discouraging collaboration and communication between them.
- Office management tasks. Running and managing an office may take away focus from projects.
- Long-term commitment. Traditional offices often come with long-term leases.
Which is best for you?
If your business is relatively small, or you work alone, you may find that coworking spaces are more beneficial. These spaces are a great way of saving money and boosting productivity. Coworking spaces are the best choice if you want to cultivate a collaborative, creative team. There are plenty of networking opportunities, industry-wide cooperation, and team collaboration.
A company that has a larger team or that serves customers quite often can see a private office space as the most desirable option. Less disruptive are traditional office environments, creating a sense of privacy and stressing individual efficiency. Office spaces are ideal for companies that allow people to work on various tasks at different times. The office will provide the spaces they need to complete their work and then come together to share their work.
There are several things to consider before making a decision whether you are interested in renting a coworking space or buying/leasing an office. You will consider how you want to show your company to prospective customers, how your employees are going to work best and be most successful, and which choice is going to be most affordable.
Are You Ready to Find Your New Coworking Space?
Victory Workspace serves professionals in the Walnut Creek, California area. We offer a large variety of coworking spaces, short term office rentals, meeting rooms and a welcoming event space with plenty of free parking for you or your guests. All that while providing our clients with daily opportunities to network with other business-minded professionals just like you! To learn more, set up your free tour or inquire about which one of services might be right for you, reach out to one of our amazing Community Guides at Victory Workspace for more information.