Setting up a business venture takes time and requires a substantial investment. One of the possible significant investments is a physical location. This comes with rent and administrative and utility costs, which might consume a huge part of your finances. This is why co-working spaces, a new office solution for professionals and startups, are becoming popular lately.
To get the best space, it’s ideal if you work with a reputable co-working space franchise. Here are the common types of co-working spaces you can select according to your needs:
Total Office
This is a posh place mostly used by businesspeople, lawyers, accountants, and PR agents. They are ideal for professionals aiming to make an impression on their clients without the hassle of administrative costs. These co-working spaces offer fancy furniture and secretaries, but at a higher cost. These are mostly open from 9:00 to 5:00 A.M.
Co-Working Areas
These are usually used by freelancers. They come with a desk in an area where you can mingle with other people. They are open for a more extended period compared to total offices and have a lower cost. According to studies, these places are flowing with creative juices and are best for professions like art that thrive on ingenuity.
Startup-Oriented Incubators
For people with startups and online businesses that need an environment to network with other companies, startup incubators could be an ideal solution. These places offer you support and at times training and funding for your business. If you want to propel your business, this is the best co-working space for you. Ensure you book your space in advance as some of these places have stringent rules and are mostly full.
Co-working spaces are cheaper than renting your office and are furnished and equipped according to the type you choose. You can also consider pooling your space with other experts in your field. This will build your referral base and offer a synergistic and great workplace.