Are you a new or existing business or even a business still working in your mind and wondering if you should consider coworking? Well lucky for you the answer might be in this 3 minute read.
The quick and easy answer is yes. Why you may ask! 1st having an office space gives the appearance to your customers that you are ready and prepared to help them with their business. It also gives the perception that you are investing in your business therefore, serious about what you do. Having an office space also gives you a dedicated place to work, flow of creativity, and hopefully a space that encourages productivity.
But...what if you are just starting and not yet made enough money to afford an office space? What then? Well let's see because guess what you do have options!
1. You can sign up with a coworking space with a virtual office if you have just gotten your Articles of Incorporation and EIN but don't see a customer near in sight...not just yet anyway. This affordable option gives you the use of a brick and mortar business address. Typically mail service, package receipt, and in some cases an actual mailbox. Brick and mortar addresses are key and we will cover this in another post. This option also works for those building business credit or those not ready to push away from the kitchen table but doesn't want the world to know where they live because they may be using their home address. Side note: To build business credit you need a BRICK AND MORTAR address, NOT a **PO Box or UPS Box**.
2. Some coworking spaces offer a flex office, this office is available for paid use to utilize when you may need an actual office for shorter periods, or the appearance of one for a client. Hmmm, great idea right! Most, options do not require a commitment but have flexible rates for various timeframes.
3. Shared workspace is the next option. Some spaces call this a hot desk, hot seats, shared space you get the picture. This is where you can come into a coworking space and pick a seat and get to work, you get to use the internet, drink the coffee, and meet new friends. Just picture it! This is an affordable option if you are not quite ready for a private space but still need to work in a productive environment.
4. Last, option is a Private Office within a coworking space. This option gives you all the amenities of a Private Office but less some of the cost, thus the prefix (co) meaning shared. We are (co)sharing the costs to operate. This option is for perfect for many business owners, entrepreneurs, freelancers, and small organizations. The overall cost are less than renting a traditional office space. Let us count the ways.
Becoming a member of a coworking space, you share the cost of rent, furniture, utilities, internet, printing, cleaning, the mighty cup of coffee, snacks, and events. The commitment terms are not nearly as long as a traditional office. As a bonus, you have a built in network of other likeminded individuals that you could possibly collaborate or hell, hire if needed...are you starting to see the bigger picture????? Here is a sample chart to show the differences in cost.
Now, now, calm down, we know many people still prefer to work from home! But ask yourself how productive are you while the dirty dishes are screaming your name while trying to work. What about the oh so comfy sofa whispering softly to come and take a nap. Starbucks? Panera? Can we even sit in in these spaces right now with the Pandemic and Starbucks oh so busy days...we do love Starbucks don't we? We love it until our customer wants to meet and there aren't any seats available.
Other perks of coworking include resources in some spaces such as a Podcast studio, Meeting Rooms, and even Phone Booth's for those secret mission calls. It's just worth it! Coworking is not going to answer everyones prayers but it can definitely answer a few, maybe even yours.
Hope this article helps to explain coworking and how it works and why this may be the perfect option for you or someone in your network.