Pros and Cons of Coworking
Some individuals may find the an open plan setup of coworking isn't right for them. Let's explore some of the Pros and Cons of Coworking.
Finding the right workspace to fit the needs of you and your business can be a challenge. It’s always a good idea to ensure that you’ve done your homework when it comes to this part of the discovery process.
Some individuals may find that an open coworking area is too loud for them and they would prefer the privacy and quiet of a private office space!
So, let’s get into it! There are many positives of working in a coworking space, see below for more on this.Â
Pros Of Working From a Coworking Space
All-in-one pricing
When you sign up for a coworking membership or an office space, all of your outgoings, utilities and amenities are generally included within one fixed monthly cost. You will also likely have flexible membership terms with no lock in contracts for membership products and variable terms for private offices from 1 month to 5+ years.
Access to multiple locations
Generally speaking, if you sign-up to a coworking centre that has multiple locations, you will have access to all of those centres and their amenities. Feeling like changing your scenery for the day to boost your productivity? Sure, your access pass will grant you permission to all Waterman Workspaces.
A better alternative to WFH
WFH (work from home) is now a household phrase employers and employees are all accustomed to. While work from home recommendations are long gone, the option to work from home is still widely incorporated into hybrid work models. Some people thrive working from home a few days a week, whereas others enjoy the face to face aspect of being in the office environment. Whatever your scenario a coworking space can be a welcome addition to your hybrid work model, as a close to, but not at home option or a full replacement to the office.
Community Collaboration
Do you ever get the feeling that sometimes your non-entrepreneurial friends don’t understand you and wonder why you just don’t go out and get a good 9-5? Entrepreneurship and running a business can be a very lonely path, but luckily for you, coworking spaces are jam-packed with the same like-minded people who are on the same journey or similar to the one you’re travelling. By far, one of the biggest advantages a coworking space has over traditional office space leasing is the community aspect, where you can meet, learn and grow from your coworkers. You could meet a coworker in the same industry as yours and learn from their ideas and experiences, or you could meet your next big client who needs exactly the services you have to offer.
Networking Advantages
Being part of a coworking community, you get to meet new members all the time with regular business events and informal opportunities for connection. Coworking spaces hire dedicated community managers and event coordinators to foster these network opportunities for members to mingle and gain something out of their memberships. The saying “It’s who you know that matters” is only half true. The complete saying is, “It’s who you know that knows what you do that matters”.
Educational Growth Opportunities
Want to learn how to get your business ranking higher up in Google searches? Sure, we can provide an educational workshop to teach all members how. When choosing a coworking centre, ask about how often they conduct training seminars, workshops and webinars. A great sign of a coworking centre is regular training seminars, generally conducted by tenants and members with great expertise in their field.
Lower Capital Outlays
Having a membership or even leasing a private office at a coworking centre offers a much more cost effective way to have your own professional space, with reduced capital outlay costs typically associated to a commercial lease, such as fitout, outgoings, rates etc. Your one monthly bill covers everything from internet to cleaning, meaning you’ll have never have bill shock at the end of the month.
Wellness Training Programs
Coworking centres often run wellbeing programs that you and your team can participate in. These might be healthy eating workshops, mental health seminars or regular fitness classes offered at a discount or for free.
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Regular Events
From weekly drinks to breakfasts, and community lunches as well as upskill workshops. There are always plenty of opportunities in a coworking centre to meet other members of the business community in an informal and friendly setting, leading to potential partnership or collaboration opportunities.
Less commute time
With many coworking centres in the suburbs choosing a local centre means you lose your commute but still have access to a professional workspace you can work at solo but surrounded by other businesses or choose a central location to bring your team to.
Vibrant Atmosphere
Many people who visit a coworking centre for the first time are impressed and excited by the buzz of productivity and community they encounter when they take a tour. There are dozens of businesses, teams and individuals all working together in the same building, collaborating and creating an environment that increases productivity
Dedicated Community Managers and service staff
Managers and service staff: A typical site team at a coworking centre consists of the service staff who are there to assist you with any technical or service related needs you may need support with at any time. Each centre will also have a community manager who’s role is to make meaningful connections between members and to help facilitate or coordinate introductions between members where there may be mutual business benefit. The community managers are also around to maintain the positive culture of the workplace and coordinate the centre based events.
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Professional Image
Working from or having an office in a coworking centre provides your business with a professional image that will impress any clients and visitors you may have. By utilising the premium meeting rooms or boardrooms and the many amenities the space offers it can be very important In providing customer confidence to your clients by basing yourself in a professional workspace.
Close to walking tracks and popular attractions
Most coworking centres are located close to public transport, shopping centres and areas that offer many retail, dining and entertainment options. There will often be good local walking tracks that members can make use of with walking and sport clubs conducted by community managers.
Cons Of Working From a Coworking Space
Noisy
If you’re someone WFH right now and your home office is set up with peace and quiet, then entering a coworking environment may be slightly challenging for you as you might experience some noise. All coworking centres will encourage their members to use phone booths for taking phone calls. Still, you may encounter, at times, people talking on their phones at their hot desks or dedicated desks, or even casual chats amongst coworkers. The fix: Great noise-cancelling headphones. Alternatively, if you need a super quiet area to focus on an important task, then we can recommend hiring out a part-time office space away from the coworking area.
Lack of privacy
Because the nature of coworking spaces is an open-plan layout, sometimes you may need extra privacy if you’re working on something important on your screens and you don’t want anyone walking past glancing over it. This can include such things as regular banking, working with confidential documents etc. The fix: Book a meeting room or move to a quieter breakout space or closed booth if you need to finish a task that’s private in nature. Alternatively, leasing a small office may be your other option.
Lack of Customisation
When you become part of a shared workspace environment, you’re bound to that coworking space’s branding constraints. You may not have your brand’s logo on the building, but in saying that, most coworking spaces offer great brand visibility by including your brand’s logo on your private office suites, your dedicated desk, reception area billboards and case study visibility on their websites. Some will also include custom branded frosting of your private office or enterprise office.
Security
If your business deals with sensitive and confidential information on a daily basis, then you may need to bring in your own networking systems instead of working off the coworking spaces network. Every different coworking space has their own rules and limitations about network security so it’s best to have a conversation with the sales representative when you’re touring the workspace
Visitor Parking
If your business is a community organisation that sees a lot of visitors , then visitor parking can at times be an issue for you because most coworking spaces will not offer a dedicated Visitor Parking spot for your customers/clients. Coworking centres may be limited by the corporate centre they’re in, so visitor parking is limited to each location. Be sure to ask this question at your tour if parking is an absolute must for you!
