Since the first coworking space—Berlin’s Hackerspace in 1995—the innovative workspace solution has risen in popularity. Even some big corporations have taken advantage of shared office space for remote workers. It’s a creative and innovative environment that fits into various work lifestyles.
However, like many things, it has its downsides. Our team took a critical look at the advantages and disadvantages of coworking spaces.
Office space can quickly eat up your budget, with most cities charging more than $500 for something modest. On the other hand, many coworking spaces offer flexible packages, some going as low as $100 for a shared space.
When renting a private office, you must supply your own amenities like a printer, Wi-Fi, routers, photocopy machines, private meeting and conference rooms, and a lounge area. Coworking spaces provide all this plus additional amenities like a recreation center and a kitchenette, cafeteria, or canteen.
Remote workers can often feel like they’re drifting alone, but a coworking community could be the solution. When renting a coworking space, there is ample opportunity to network with other professionals, share ideas, and support one another’s ventures, and the coworking space managers often host events to encourage community connection.
Coworking spaces are great for companies in the middle of their growth stage. Most of these spaces make it easy to scale up or down for your workforce, and this saves time and money on moving spaces.
Coworking spaces provide a visually appealing and thoughtful environment for productivity and creativity. As they grow more popular—predicted to double by 2024 to almost over 40,000—these spaces will expand on what features they offer to stand above the competition. This trend also means you may have more options in the future for choosing a coworking space, and you will be able to find the right fit for your business’s needs.
While coworking spaces are often less expensive than leasing an office space, they may be a big expense if you are a new startup or self-employed. In the case of the latter, there are free workspaces like your local library and coffee shops with available Wi-Fi.
In a coworking space, if you are working in an open space instead of an office, you may not be able to control what will happen around you, and there can be limited privacy as well. Other company meetings, people talking over the phone, desk neighbors listening to music or videos aloud, and many more potential distractions can occur. When you own a business space, you have more control over making the rules and creating an environment for optimal productivity.
A nice feature of coworking is that spaces are already designed, furnished, and equipped for the office day. However, this means you have limits on personalizing the space for yourself or your business. Depending on what kind of package you signed up for, you may have to compete for desk space and private meeting rooms.
Different coworking spaces have different options for workers to choose from. Some options include hot desks (taking any open seat), an assigned desk, or private offices. These options will vary in price, with private offices being the most expensive, so you must consider your budget and business needs before committing to a coworking space. Luckily, coworking spaces typically require shorter terms than a traditional lease, some requiring as low as a month-to-month commitment.
All in all, coworking spaces are popular for a reason. They provide a professional space that is ready for growing companies to move right into. However, they can also present some challenges. It all depends on your unique business and what you need to thrive.
If you’ve considered these advantages and disadvantages of coworking spaces and want to sign up, look no further than
The Cannon. We have over six locations in the Greater Houston Area, all dedicated to helping innovators thrive. Free parking, a professional mailing address, and 24/7 access are just a few of the benefits you get along with the space! Plus, we have
three packages to choose from as your business grows.
Not in the Houston area? No worries! You can join
Cannon Connect, where we’re building the world’s most valuable entrepreneurial network from anywhere in the US. Get access to resources,
a crowdfunding platform, an advisor network, and even access to
a health insurance and benefits plan if you have two or more employees with your company.
Begin thriving today in a coworking space that’s here for you. Visit
our website to get started!
Brad oversees all overall day-to-day operations of The Cannon and its growing community, including all current and future Cannon locations and Cannon Connect, The Cannon's new online platform. He holds an undergraduate degree in marketing from Texas A&M and a graduate degree from the University of Oklahoma.