1. Cheaper office space
Co-working spaces, which charge a membership fee, may mean substantial savings over traditional office space. Some pepople business could save 75 percent in total costs.
2. Better office space and location
Executive office suites, which like co-working spaces charge a membership fee, have been around for decades. They can provide a way in to expensive, in-demand spaces in prime areas that new small businesses otherwise might not be able to afford.
Corworking spaces offers to individuals and small businesses on a membership basis. Co-founder Frank Chalupa says if some small-business owners tried to get office space in that kind of building on their own, they’d likely be snubbed because their businesses are too small.
3. Fast setup
With shared office spaces, there’s no need to do an expensive move — they’ll do the heavy lifting for you. For example, the coworkings space could offer: phone, Internet and other utilities already set up. Bring your computer, and you’re good to go.
4. Free amenities
If you lease your own office space, you’re responsible for paying for utilities, supplies and amenities. With shared offices, utilities such as water and Internet are included, as are other amenities including coffee and kitchen supplies. This reduces costs and some of the details you have to tackle day to day.
5. Flexibility and scalability
Most shared office spaces offer month-to-month memberships, as opposed to traditional office leases, which lock you in for years.
Since you pay a monthly or annual membership for a shared office rather than a long-term lease, you can typically upgrade or downgrade plans at any time. If your business expands or contracts, you can add or remove space as needed.
6. Affordable support staff
While co-working spaces have staff to help members, they generally don’t assist with administrative tasks
For example: reception support and mail services are included in some coworkings spaces.
7. Networking opportunities
With an open floor plan and events for mingling, co-working spaces allow for easy networking. Members find work through fellow co-workers, in addition to a talent pool suited to small-business owners needing to add employees.