Did you know that there are more than 35,000 coworking spaces used by people all over the world? The total revenue of the coworking industry is valued at around $25 billion and it’s going to increase drastically in the upcoming years.
Why? Because coworking spaces (also known as flexible workspaces) are becoming more and more popular. In fact, Uber has been started in a coworking space by two brilliant minds from San Francisco. Nowadays, this company has a revenue of more than 11 billion dollars.
But what is a shared office space (or coworking space) and how can you make good use of it? Does it have come with bells and whistles? And why so many people tend to use coworking spaces?
Keep reading this article to find out everything you need to know about a coworking office space.
Shared Office Space 101 – Everything You Need To Know
Coworking spaces come with many perks for people of all ages. This industry began a couple of years ago and numerous flexible workspaces are opened up each year in every major city around the world. Chances are that a few coworking spaces are also available in your hometown, so why not taking advantage of them?
1. What Are Coworking Spaces?
A coworking space is an area which has been specially designed to help people perform their job duties properly and safely. These spaces usually incorporate shared IT infrastructure, a stable internet connection, printing facilities, coffee machines, offices, and other amenities.
A coworking space can be rented by a person or company. For a set monthly fee, one can take advantage of these shared facilities for work-related purposes.
2. Who Uses Coworking Spaces?
Coworking spaces have been designed for freelancers, self-employed people, and solopreneurs. However, virtually anyone can use a coworking space as long as he can afford the monthly (or daily) fee.
3. What Are The Benefits of Using A Coworking Space?
The list of benefits is extensive for people who use coworking spaces.
For example, it provides a great opportunity for self-employed people and freelancers to get rid of the isolation commonly associated with their job. Freelancers usually don’t go to a workplace with other people to do their job. They have to work at home or in coffee shops and this can become frustrating or stressful sometimes.
A coworking space helps in this case because freelancers can find like-minded people here. They are surrounded by individuals just like them who have their own businesses and perform relatively the same jobs.
A flexible workspace is also equipped with everything you need for your business, so you don’t have to buy your own gear. For a small fee, you can rent server space, storage space, use a printer or take advantage of very fast internet connectivity.
Lastly, coworking spaces also provide an opportunity for socialization. In such places, freelancers and self-employed people can meet fellow workers and establish friendships or professional relationships.
4. How Much Does it Cost to Rent A Coworking Space?
This depends on a variety of factors. Each coworking space has its own price and this can be influenced by the number of offices rented, the type of equipment provided, for how long the space is going to be rented, etc.
To give you some very rough estimates, you can rent a coworking space for around $25 a day. You have your own office and in many cases, you also get coffee for free. You can also rent coworking spaces for a week (for around $100) or for an entire month (for around $300). if you’re a company and want to rent multiple offices for your employees, the cost can increase, but you also get a lot of discounts and benefits in return.
You might also be happy to know that there is the possibility to rent a coworking space for 24/7 access. This will cost a bit more but gives you the opportunity to visit and work at 3 AM, if that feels comfortable for you. Make sure that you check these details for each coworking space you plan to rent, so you know exactly what’s included and what are you paying for.
5. What Amenities You Usually Find in Coworking Spaces
A shared working space can be equipped with a lot of useful things and this is one of its major benefits. For example, apart from printing facilities and a fully stocked office space, you also get modern IT equipment including tablets, multiple monitors, maybe a projector for your Powerpoint presentations, etc.
On top of that, you also have access to a kitchen equipped with basic electronics such as a fridge, microwave oven, toaster, coffee machine, water cooler, etc. You can heat up your meals or get as much coffee as you want, everything is included in the price you are paying already.
Owners of coworking spaces also offer free and private parking for their clients. You come with your car and it will be parked in a safe parking lot equipped with surveillance cameras and fence. Most coworking spaces also have security guards who protect the area against malevolent people looking to steal vehicles.
Sometimes, coworking spaces can get very crowded and noisy at the same time. That’s why some of them feature phone booths. You go in there and make your calls in silence since this place features acoustic isolation. A phone booth is ideal for a busy lawyer or corporate worker who needs to make a lot of calls every day.
Lastly, coworking spaces can even feature gym equipment. Granted, you might not have access to a fully-equipped gym, but you can definitely hop on a treadmill or lift some weights during your lunch break. Such facilities are great and highly appreciated by most people who use coworking spaces.
Ready to Visit Your First Coworking Space?
Whether you’re a freelancer or novice entrepreneur, you can greatly benefit from using a shared office space. Make sure that you don’t rush when picking one and share this article with your friends, so they also know what to expect when renting a coworking space.