The Ups and Downs of Co-Working Spaces: Is It Right Workspace for You?

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Whether the majority of your workforce is remote or you’re a freelancer, co-working spaces present a unique situation to a common problem. Sometimes a fixed office is necessary since not every job or project can be completed on the go. 

For individuals who only need an occasional office, coworking spaces can be a unique solution. You can rent a temporary office space, complete with furniture and equipment for a day, week, or month. This flexibility is a great fit for some but it doesn’t necessarily work for everyone. 

So, how do you know if a coworking space is the right option? Sometimes, it helps to evaluate the advantages and disadvantages of sharing an office space with strangers.

The Ups and Downs of Co-Working Spaces Is It Right Workspace for You

Benefits of Coworking Spaces

For some people, it’s a dream to wake up every day and only have to go down the hallway to get to work. The kitchen is only a few feet away from your desk and this means you always have free access to your favorite coffee blends. 

No one cares what you’re wearing—after all, you can accomplish the same great work in your pajamas and fussy slippers. If a Zoom meeting is on the schedule, you just throw a business shirt on over your PJs. Other people may love being able to work in the field. All they need is a laptop and an internet connection. They can collaborate with other team members, hop onto meetings, and turn work in on time.

While this seems to be ideal for pretty much everyone, there are still times when a dedicated office space is necessary. This is when freelancers and companies turn to coworking spaces.

Cost-Effective

Companies and freelancers are always looking for ways to cut back on operating costs. An effective way is to get rid of your expensive long-term rental office. Obviously, if you’re a company CEO who also happens to own the office building, this doesn’t apply. You want your team present and working out of the building you own.

For those renting offices, a coworking space can be an effective way to cut costs. Compared to a long-term lease agreement, a coworking space is significantly cheaper. This can be especially true in some cities where office space is often leased at premium prices.

Best of all, most coworking spaces offer several rental packages. This means you can usually find a package that fits both your budget and the amount of time you need the space.

The Work Space is Ready for Use

Setting up an office space is time-consuming and expensive. You need everything from a desk and chair to equipment like a copier and phone system. Don’t forget about high-speed internet.

You need to be able to easily get online and you don’t want to run into issues with slow bandwidth.

You’re probably also going to need a conference room and this means more furniture. As you can see, the costs are quickly adding up, along with the amount of time you need to spend finding all of the necessities.

When you rent a coworking space, everything you expect to find in a traditional office is included in your lease. This even includes the conference room, though you may need to schedule time to use it. Remember, it’s a shared space and this means others may also be waiting for a turn in the conference room.

Dedicated to Work

You can work and even meet customers in a café, coffee shop, or local library. Purchase a cup of coffee or a sandwich and you can hang out all day. You don’t even need to check out a book to use the library, it’s completely free. Even though this may seem like a great option, there are downsides.

Cafes and coffee shops are filled with distractions. You’re probably going to find it difficult to concentrate and this your productivity will drop. Holding meetings in public spaces is also tough at best. 

From loud noises to other guests overhearing your conversations, it’s not the ideal environment. If you’re still stuck on using the free Wi-Fi and other amenities at the library. Holding a meeting in a library is difficult when everyone is talking in a whisper. 

On the other hand, a coworking space serves one purpose: the space is dedicated to work, both online and in-person.

Opportunity to Socialize

Working from home or out in the field can get lonely. Even if you don’t want to strike up a conversation, it’s still nice to know others are in the same area. A shared coworking space gives you the chance to temporarily work around others.

Since everyone is focused on their jobs, distractions are limited, but you also have the opportunity to have a conversation with others. You may even be able to do some networking with others in similar industries.

Potential Downsides of Shared Coworking Spaces

With all of the potential advantages of shared coworking spaces, it can be hard to think of any downsides. However, there can be a few that can affect whether it’s the right option for you.

Even though the space is designed and advertised for work, you never know who you’re sharing the office with. You may encounter someone who’s there more for socializing than working. Now, you’re paying to rent the space and still aren’t able to get your work done.

Along with potential distractions, you also get whatever the leasing company offers in a workspace. Instead of working out of an office with a door, you may find yourself in a cubicle only a couple of feet from others. 

Reserving a shared conference room can also come with challenges. Since it’s on a first come first served basis, there’s no guarantee you’ll be able to use the conference room when you need it.

Is a Shared Coworking Space Right for You

Shared coworking spaces have several advantages for both businesses and freelancers. The temporary lease is noticeably more cost-effective than a long-term one, and it’s hard to beat the flexibility. You can rent the office space for only as long as you need it.

With that being said, there can be drawbacks you should consider before making a final decision. Chances are though, you’re going to find a shared coworking space makes sense.

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