
A co-working space is a lot different from a regular office. There would be a smell of fresh coffee in the air along with an electric atmosphere that the excited and energetic people around bring to the place. At almost all the desks, people would be busy striking engaging conversations.
At the basic level, a co-working space is a shared workplace. The concept is to offer an affordable working space to those looking to get away from the isolation of a residential office or a coffee shop. These offices extend a bundle of office facilities like kitchens, meeting rooms, hot desks, coffee, etc. Community is also a part of the offering. Those who opt for coworking space are typically freelancers, start-up companies, entrepreneurs, or a team with limited members who want to enjoy flexible space advantages.
Apart from culture, the cost is the other big draw of this concept. One of the most significant advantages of this model is the flexibility to rent just what is needed compared to a whole office space that can cost a lot. There can be a variety of memberships based on several models. The costs can vary accordingly and allow a lot of flexibility. It includes options such as paying on a daily basis or monthly. The membership cost varies based on whether the preference is for a shared desk or a dedicated one.
Freelancers
It has been found that co-working spaces offer the best of both worlds for freelancers. It offers the flexibility of selecting their own time and schedule minus the isolation. Thus, these shared places are great, and it leads to a feeling of community to those who otherwise might be forced to work alone at home or from a coffee shop.
The Concept
The concept is working quite well. It has been an excellent fit for small organizations. There seems to be an inherent alignment between startups and freelancers’ goals and what the spaces have to offer. Research published in the Harvard Business Review indicates that employees are thriving quite well in these shared workspaces as opposed to the traditional office. People who work in a co-working space develop a different attitude over time due to the working environment. There have been clear indications of a sense of belongingness and community, more control over work and more meaning output.
Large Organisations
With the co-working space concept doing so well, there has been a recent spike in online searches using keywords – affordable coworking space near me. Even large organizations are also considering this concept. Likewise, companies that are forward thinking have already started utilizing co-working spaces wherever possible.
In most cases, the benefits have been in terms of proper management of real estate and expense. Because of this concept, the need for longer leases that involve forecasting business and real estate requirements gradually becomes a thing of the past.
The usual trend is that organisations proceed to internalise the practice once a new concept has been introduced. The flexibility extended by this model is a plus, especially when it comes to real estate and business convenience.