As your business grows, it becomes necessary to expand your workforce to handle more clients. This, however, also means the need for more space to accommodate your business expansion.
Here comes in the popularity of coworking spaces. These are accessible to businesses that are considering expansion as well as those that are just starting in the industry. Some businesses utilise coworking spaces to house employees who are in remote locations. Meanwhile, others use it as an early stage venture.
But a lot of business owners are still confused about whether to rent a traditional office or expand their business in a coworking space. Although both have their own strengths and weaknesses, it does not mean that both are perfect for all businesses.
To help you understand and weigh the two options better, here are a few of their differences.
Traditional office space or coworking space?
Coworking spaces are ‘shared workspaces’ where you can opt for access a permanent desk or even a private office. It is a type of workspace that is charged to a person, depending on if you are renting the entire office and the number of people who can access it.
If you choose a coworking space, then expect that everything is already set up for you. It means that you do not have to buy any office furniture online or do anything else to set up your office. You can even start working immediately without worrying about the internet network.
Yet, expect that you will share the area with everybody else. Every coworking operator follows its own rules and regulations. Make sure that you consider trying a trial workday so that you will get a feel of what it is like to share space.
Meanwhile, a traditional office provides you with more freedom but a lot more responsibility. It means that you will be responsible for paying all the utilities as well as the office furniture you buy online. You can also personalise your space to reflect your personality.
How to know which one is right for you
To find out which one suits you best, you first need to understand your business needs. If you have a lot of employees working part-time, you need to know the cost for a specific number of people who will be using the space. You also need to get a duplicate of each key, so you will be able to use it unsparingly.
Coworking spaces give members a sense of professionalism that they do not feel in a remote setting. It also helps them identify themselves as part of the company and makes them feel important and worth the cost.
It is up to you whether you will choose a more traditional office space or rent a space. Know their consequences as well as their benefits to help you make the right choice. Each has its pros and cons, which can either boost your business or stunt its growth. So, take your time and consider all the services that you need to expand your business further.