Co-working spaces are a relatively new idea. Born in the 90’s to bring like-minded individuals to the same working office, co-working spaces tend to house many different types of businesses and teams.

Why are co-working spaces so attractive?

Despite the idea being relatively new, the popularity of a co-working space is a good indication of how beneficial it is. But what makes these offices so popular? They fill a need for remote workers and small teams to collaborate with others while saving money in rent.

Sounds pretty good, right? Of course! Who wouldn’t want to save money while collaborating with other like-minded folks?

Before you decide to rent a co-working space, however, let’s consider the pros and cons.

Pros

Sometimes, working from home can be lonely. You may or may not enjoy working without any company around, but eventually, you may start to feel isolated.

With a co-working space, you get the chance to collaborate with like-minded, professional, and creative people every day. Gone are the days of slaving away at a computer in your pajamas with only a cat to keep you company. With the co-working space, you can network and collaborate with people who you may not have ever met otherwise. Bonus if these people can help fill holes in your team by offering up their services.

Dependable internet. Companies offering co-working spaces should offer you amenities, the least of these reliable, high-speed internet.

Cons

Amenities may be lacking. If you have to bring your laptop, use your own phone, and walk down the street to a fax something, you may as well be in a coffee shop. They don’t tend to offer laptops or phone and fax services either.

If the co-working space is further away than an office may be, you may find yourself spending more time at home than at your rented office. Look for a co-working space that doesn’t involve a long commute to make it worth your money.

Now that we’ve explored some of the pros and cons, let’s discuss specifics.

What about my privacy?

The number one thing your company should be concerned about is protecting your assets. While a co-working space is great for collaboration, it could be dangerous if you don’t trust the people in your co-working space.

Is there a tenant that always seems to lurk when you’re dealing with private business? If all of the people in your workspace aren’t from the same company, it’s possible the info on your computer screen isn’t secure.

What are your office supply needs?

While our co-working spaces include everything an office needs to run, not all co-working spaces can say the same thing. Not all co-working offices operate with high-speed Internet, a full-service espresso bar, and private phone booths; not every office can offer you the same thing.

Before you consider moving your employees to a co-working space, ask about office amenities to see if you’re fully stocked, or lacking some crucial office equipment, or little luxuries that you've come to expect. If the co-working space can’t offer you meeting rooms, the internet, or coffee, you may want to think twice. Luckily, we at 580 Executive can offer you all of this, plus much more.

Is co-working cost effective?

Have you priced office space in the Bay Area lately? You may have been shocked to see the price, and annoyed to learn that most come with a long-term lease requirement.

Co-working spaces can certainly cut the cost of office rent. Because you’re sharing the space with other people/companies, you’re also sharing the rent.

But if your co-working space is inconvenient to get to, doesn’t offer parking, and requires your employees to spend money on commuting costs, it may not be the cost-saver you’re after.

What your company needs

When choosing between a traditional office space or a co-working space, it comes down to what your business needs.

A co-working space has a fair share of both pros and cons. However, there are many potential benefits to make it worth considering before you sign a long-term lease in your office. Why not contact us at 580 Executive Center and see if our co-working spaces are right for you.