Coworking Spaces and Their Growing Popularity
A coworking space refers to a coworking environment where different organizations or individuals work together (but separately) in a shared space. Coworking spaces offer many benefits such as flexibility and cost-effectiveness while also creating opportunities for creating communities between firms and individuals. Due to these benefits, coworking spaces are rapidly gaining popularity. Especially the trend towards the rise of remote work and hybrid models facilitate the operations for coworking spaces.
Discover the Digital Nomad Mastery, learn about digital nomads and remote working.
Why Coworking Spaces Are Gaining Momentum
It can be possible to compare coworking spaces to libraries. Libraries and coworking spaces create a suitable environment for productivity and focus on work. However, unlike libraries, coworking spaces allow for other business processes such as organizing meetings and participating in discussions with your colleagues. With this appeal, coworking spaces are preferred by many freelancers, remote workers, and startups.
Coworking spaces are growing in popularity due to their flexibility, cost-effectiveness, and ability to create community among individuals. Coworking spaces provide an ideal environment for productivity, and offer many additional benefits such as meeting rooms and collaborative opportunities. Due to these qualities coworking spaces are quite appealing to freelancers, remote workers, and startups.
Top Reasons for Choosing Coworking Spaces
Flexibility in Working Hours and Space
Coworking spaces offer a comfortable and flexible office space that fosters productivity and efficiency for remote & hybrid workers, freelancers, and start-ups. On top of offering a comfortable and viable working environment, coworking spaces usually have flexible working hours and offer 24/7 access.
Networking Opportunities and Community Building
Remote working can be isolating, however, coworking spaces create an opportunity for remote workers and freelancers to connect with each other. Through coworking spaces, you can create both professional networks while also building communities. The dynamic environment in coworking spaces can help you access mentors and partners.
Cost-Effective Alternative to Traditional Office Spaces
Creating and maintaining a traditional office space is much more costly for small businesses than joining a coworking space. Especially long contracts and the cost of utilities make traditional office spaces much more costly. Coworking spaces offer the same benefits an office would present with much lower costs.
Productivity Boost Due to Professional Environment
Seeing others focused and immersed in work can be a great motivator for you to be much more productive. Not only that, but coworking spaces are essentially designed for you to be productive with quiet workspaces and meeting rooms. You can stay focused and get your work done in the most effective way.
The top reasons for growing popularity of coworking spaces are; the flexibility they offer, the networking opportunities, cost-effectiveness, and increased productivity and efficiency.
Most Important Factors When Choosing a Coworking Space
First of all, are you choosing a coworking space for you only or is it for a start-up? Then, you might need to consider different factors.
If you are searching for a coworking space for yourself;
-
You should make sure the location is close by your residency
-
Which opportunities and facilities they offer
-
Is there an existing community there?
-
What is the cost?
-
Does this coworking space offer you enough flexibility with its hours?
If you are searching for a coworking space as a start-up;
-
You should make sure that there is enough opportunities and facilities for you to conduct your operations
-
What is the cost?
-
Does this coworking space offer you enough flexibility with its hours?
-
Does this coworking space have easy access through public transport?
See the details of Benefits of Remote Working.
You should consider factors such as the location, facilities, degree of flexibility, existing communities, and costs when choosing a coworking space. You may focus on different factors more than others based on whether you are working solo or with a team to find the perfect office space.
Must-Have Amenities for an Ideal Coworking Space
High-Speed Wi-Fi and Reliable Internet Access
We are now in a digital age where many processes are completed through online channels. The first and indispensable requirement of a coworking space is to have a strong and fast internet connection. It is not possible to work effectively without a smooth internet connection.
Conference Rooms and Meeting Areas
Brainstormings, pitching ideas, and hosting client meetings are standard and necessary processes for many businesses. Therefore, individuals and organizations need to have access to conference rooms and meeting areas within a coworking space.
Comfortable Workstations (Ergonomic Chairs, Adjustable Desks)
Ergonomic chairs and adjustable desks are some example tools for more comfortable and healthy working environments. Working hours can be lengthy and sitting at a desk all day sure is not healthy. That is why supporting yourself with comfortable tools in a coworking space is important.
Printing and Scanning Services
Similar to meetings and presentations, printing and scanning things is also a routine part for many lines of work. Do not forget to check if the coworking space offers you this opportunity.
On-Site Cafés or Access to Coffee and Snacks
Everybody loves a little sweet treat or a cute coffee break. These little joys throughout the day make us stay motivated and focused. So, remember to look for on-site refreshments the coworking space offers or whether they have operating food and cafe services within the coworking space.
24/7 Access for Flexibility
Everybody has a different time of the day that they are the most productive. Some are early birds, love to work very early in the morning while others are night owls and the most productive at night. Coworking spaces that offer 24/7 access can give individuals the opportunity to choose to work within the hours that they are the most productive.
Wellness and Recreational Areas (e.g., Gym, Yoga Rooms)
Taking breaks throughout the day, moving your body, exercising mindfulness and breathing can work wonders. Incorporating movement into your office your job is very critical to maintain both your health and your work-life balance. It is a very important bonus if the coworking space offers such recreational areas for you to use.
Security Features (Keycards, CCTV)
Most of the work gear, including items at a dedicated desk, are valuable both in terms of their monetary value but also in terms of the critical information they include. That is why it is a non-negotiable for coworking spaces to offer various security measures such as keycard access and CCTV cameras.
There are some factors that can be classified as a necessity and a must-have for coworking spaces. Some of these must-haves can be listed as a strong and fast internet connection, existence of private meeting rooms, security features, wellness areas, printing tools, access to refreshments, and comfortable working tools.
Trends in Coworking Space Usage Over the Past Year
There are several trends that have facilitated the usage of coworking space over the past few years.
Rise in Hybrid Work Models and Remote Work
After the global lockdown to the Covid-19 pandemic many organizations adapted into the remote and hybrid working models. This adaptation to the hybrid and remote models increased the demand for coworking spaces.
Demand for Smaller, Boutique Coworking Spaces
Large spaces for organizations are slowly losing their appeal because of many factors regarding their costs and efficiency. There is an increasing demand for smaller and boutique coworking environments.
Increased Focus on Health and Safety Measures Post-Pandemic
Coworking spaces have shown that they prioritize sterilization and social distancing especially during the period of COVID-19 pandemic lockdowns. The focus on healthcare and well-being of coworking spaces creates a reason for the increased demand.
Eco-Friendly and Sustainable Workspaces
Sustainability is an important value that is brought up by consumers, organizations, and governments. Coworking spaces are eco-friendly and sustainable options for many lines of work. They serve many sustainability functions such as reducing waste and decreasing energy consumption.
Preference for Localized Spaces Over Central Business Districts
Coworking spaces are usually placed through the city, to different local neighborhoods. This situation decreases the traffic in business districts of the city while also supporting local communities.
Over the past year, trends in coworking spaces have changed. The changing trends include; increased popularity due to the rise of hybrid and remote work models, increased demand for flexibility in work, demand for eco-friendly and sustainable practices, and a desire to contribute to local communities.
Desired Features and Services for Coworking Spaces
There are some features and services that can make a coworking space more than ideal.
Virtual Office Services for Remote Workers
Coworking spaces do not have to be limited to only physical work spaces. Virtual and online coworking spaces can offer freelancers with a professional business address and mail handling. This can increase the legitimacy and the credibility of freelancers.
Childcare or Family-Friendly Spaces
One of the key advantages of remote work, especially for parents, is the ability to be there for their children. Coworking spaces can contribute to this primary need by creating child-friendly spaces such as playgrounds or children playing or reading rooms.
Wellness Programs (Yoga, Meditation, Mental Health Support)
Coworking spaces that incorporate wellness programs within their facility are definitely a few steps ahead. Showing that you care about the well-being of individuals and the community within your coworking space is a highly positive value you propose.
Professional Development Workshops and Networking Events
Participating in coworking spaces can facilitate you in your journey towards forming professional connections and learning from new mentors and partners. It is a common practice for coworking spaces to organize workshops, mentorship programs, and networking events to assist both individuals and organizations in this process.
Customizable Workspaces for Teams
It is possible to feel more “at home” with customization efforts in coworking spaces, including private offices. You can add your start-up’s logo, and make some adjustments that reflect your brand.
Dedicated IT Support and Tech Solutions
There is an opportunity of getting help from on-site IT and Tech teams in coworking spaces.
Do you need information about business planning? Click What is a Business Model Canvas, Mastering Value Proposition and Employee Value Proposition Canvas & How To Soft Launch Successfully to see the details.
Ideal coworking spaces offer many desired features such as integration of virtual office tools, child-friendly areas, wellness programs, networking events, and IT services. Including those features in your coworking space can really improve the experience for everyone.
Challenges of Coworking Spaces
We have covered the many benefits of working in coworking spaces so far. However, there are also some downsides you might face in a coworking space.
Lack of Privacy in Open Workspaces
Open workspaces in most coworking spaces make it difficult for teams to carry out their discussions regarding some sensitive and critical issues. You might try to use the meeting and conference rooms for such situations, but it would be difficult to arrange the timeline considering that the other teams also use the rooms.
Noise and Distractions from Other Coworkers
Another downside of open workspaces in coworking spaces is that you might face some noises and distractions from other individuals in the space. For example, someone out-of-focus can harm your concentration. That is why choosing coworking spaces that offer silent rooms and private rooms can be helpful.
Limited Availability of Private Meeting Rooms
As we have stated, private meeting rooms create the solution for both privacy concerns and distractions. However, there can be many different individuals and possibly firms using the same coworking space. In that situation, it would be challenging to find availability in the private meeting rooms.
Cultural or Atmosphere Mismatch
You might have different habits than everyone else, similarly, different firms may have different practices and cultures. These different practices and cultures in the same working environment can create some problems in the atmosphere. However, you can easily overcome such problems with mutual respect and understanding.
Difficulty in Building a Stable Work Routine Due to Flexibility
Flexibility is perfect for creating a work-life balance and improving your overall life satisfaction and well-being. But flexibility also means that creating discipline and a work routine is completely up to your responsibility now. You can use habit formation techniques, build a routine, and work effectively within your flexible schedule.
Even though coworking spaces offer many positive contributions, you might still face some challenges. These challenges include; difficulty maintaining discipline regarding your work, lack of privacy opportunities, existence of districations, limited availability of meeting rooms, and possible cultural mismatch with others in the coworking space.
Coworking Space Trends in 2024
Let’s investigate some of the latest trends regarding coworking spaces.
Increased Demand for Flexible and Hybrid Workspaces
There is an increasing demand for flexible and hybrid workspaces. Coworking spaces see this demand and build new locations based on flexible workspace solutions.
Growth in Niche and Industry-Specific Coworking Spaces
There is a growing trend towards industry-specific coworking spaces. For example, it is very common for a legal-based coworking space to exist. Similarly, many private mental health clinics operate under the coworking space principles. You can find coworking spaces specialized in tech and design. Such niche coworking spaces can better offer specific environments and services commonly used by the profession.
Adoption of Smart Technology for Workspace Efficiency (e.g., Smart Desks, AI Tools)
There is a strong trend towards incorporating smart technology into coworking spaces. AI-powered tools, smart desks, and data analytics are most commonly used smart technology tools for workspace efficiency.
Rise of Wellness-Oriented Workspaces (Mental Health Support, Relaxation Areas)
Wellness is an important value and a new trend among almost every industry. Coworking spaces which show that they care about mental health and well-being are the first choice of individuals and organizations. Facilities such as meditation rooms, resting spaces, mental health insurance support, and relaxation areas can reflect how much a coworking space prioritizes wellness.
Sustainability as a Core Value: Green Buildings and Eco-Friendly Practices
Sustainability is also another important value many consumers, organizations, and governments are raising concerns at. Coworking spaces fundamentally bring sustainable value with their contributions to reduction of energy costs, reduction of transportation, and support to local firms. You can further enhance this by creating green and eco-friendly buildings.
Do you need to find the best branding agency for your brand? Check out the Best Branding Agencies to discover.
Coworking space trends have changed throughout the year 2024. The first coworking space trends were focused on adapting into hybrid and remote working models, later some industry-specific coworking spaces emerged. The trends later focused on technology integrations, wellness opportunities, and sustainable values.
“Coworking Spaces Near Me”
Are you looking for coworking spaces near you? In major cities like New York, there are numerous coworking spaces catering to various professional needs. You are not alone! There are many professionals, freelancers, remote, and hybrid workers looking for coworking spaces near them. You can use location-based searches and join remote or hybrid working forums to find the best coworking spaces near you.
Conclusion
Coworking spaces are spaces created in response to the growing trend and demand of remote and hybrid working. Coworking spaces offer flexible schedules, cost-effective solutions, and community-driven environments. The trends within coworking spaces also change with the demands such as caring for mental health, well-being, and sustainability. The facilities and opportunities offered by coworking spaces change with technological advancements and create a favorable option for many individuals and organizations.
Boost your online presence with top digital marketers. Find them on Edvido.
FAQ
What are the main benefits of using coworking spaces?
The main benefits of using coworking spaces can be listed as;
-
room for flexibility
-
cost savings
-
networking, mentorship, and partnership opportunities
-
creating sustainable value for the environment with reduced transportation and energy costs
-
support to local firms and neighborhoods
What factors should I consider when choosing a coworking space?
Let’s list some of the factors you should consider when choosing a coworking space;
-
Location; you should choose somewhere easy to access near your local neighborhood if you are working solo, if you are looking for a coworking space for a start-up you should prioritize spaces near public transport.
-
Atmosphere; what is the culture in the coworking space?
-
Available Facilities and Opportunities; what kinds of facilities does the coworking space offer?
-
Price; Is the price within your budget?
How have coworking spaces changed in the past year?
Coworking spaces have gone through several changes over the past few years. First of all, coworking spaces adapted into the new post-pandemic normal and they focused on preserving health and safety measures. Later, as the flexible and remote working opportunities arose, coworking spaces adapted into these models. Nowadays coworking spaces are incorporating well-being and sustainability practices into their models.
What do you do in a coworking space?
You work! It is a coworking space, essentially, and is designed to help you work effectively and efficiently on tasks, collaborate with others, attend meetings, and form new networking connections.
What is included in a coworking space?
First and foremost, every coworking space includes high-speed internet. Many coworking spaces include facilities such as work areas, meeting rooms, and printing services. There are also nice bonuses such as communal rest areas and access to refreshments like coffee, tea, and snacks.
Is it worth paying for a coworking space?
It really depends on your needs and expectations. If you are working remotely or as a freelancer; flexibility, the professional environment, and access to many tools makes it worth paying for. Similarly, for start-ups, the reduced costs and access to a professional work space is usually worth paying for.
