Coworking Space vs Traditional Office Space, Which Is The Best For Your Startup?
Posted by Tushar Mittal on March 15th, 2019
So the question on everybody’s mind now, since coworking spaces have suddenly caught the attention of the workforce; are traditional office spaces even worth having anymore?
In India for example, where the coworking concept only came in a few years ago. The major cities now almost have an equal proportion of coworking office spaces to traditional office spaces. Although workers in tier II and tier III cities still are subject to traditional offices, there seem to be an interest in the availability of coworking spaces there as well.
Now before we take sides, let me ask you:
What startup business are you running?
Have you made your office choice yet?
Would you like to learn which choice would favor you most?
Well, while you wrestle with those, I’ll give you good examples of startups that don’t need a traditional office space.
1. Digital Marketing
2. Logo Designing
3. Real Estate
4. Freelance writing
5. Software Engineering
6. Financial Planning
8. Professional Consultancy.
It is certainly important to understand the nature of your business and how it will cope in either of these two working environments. It is also important to understand the Pros and Cons of both environments as well.
These top six comparisons are straight-cut and unbiased; they would help you make the right decision.
1. Cost and flexibility.
Apart from being expensive, traditional office space for a startup isn't the best. Anything is possible, your startup business might be located in the wrong market thereby limiting or totally freezing cash flow.
This could become a major problem when you have to pay rent or lease. Whereas In a coworking environment, there's in a chance of flexibility, which reduces the amount you'd have to pay for taking up space if the startup refuses to meet instant or sustainable cash flow. Flexibility is an advantage of coworking spaces.
Coworking spaces lack privacy, a rather easily enjoyable benefit of traditional office spaces. This, from another perspective however is seen as a precursor to isolation. If you are often cut off from trends and instant information about your environment well, you are a step further away from an interactive society.
Working in close proximity with others often exposes you to distractions; this is one major disadvantage for coworking spaces, because focusing this becomes a little less easy with the constant buzz of phone calls and client consultations around you.
A traditional office space scarcely experiences this though, because you are the only interactive identity in this setting.
4. Network of like minds
As an obvious advantage to coworking, having a network of problem solvers fashioned like a community is a great escape from mind bugging issues.
If such issues were to arise in a solo coworking environment, consulting an e part in that area might be the only way out. While on the other hand, in a coworking area, the instant solution you need might be just about two tables away and which you'd get it for free. So for this round, coworking space are favorite.
5. Professional Identity.
A coworking space oftentimes have a more renown identity than a solo owned office, this because the different services offered by members of the coworking space, takes the office name through different markets and makes it known to different patrons and investors.
Especially for startups, a coworking space offers a more reliable identity than a traditional office space.
6. Shared commitments.
If you have ever worked in a private office, there must have been a time you wish you could go back after closing for the day.
Perhaps you were not sure you turned off the fuse box or you can’t remember if your door was properly locked. A coworking office usually have provisions for this, being accessible by several people, there are personnel assigned the duty of taking care of these little but important aspects as well.
There’s really no single, straight one-fits-all answer here, both coworking spaces and traditional office spaces have their separate but spectacular advantages.
However, all factors considered, I believe coworking spaces are better, it has features better suited to the nature of upcoming businesses and study has shown that workers under the coworking conditions are happier to work.
This post is sponsored by “Magnet Cowork” which newly coworking space in Chandigarh for entrepreneurs, startups, freelancers. If you are looking coworking space in Chandigarh city your startup or exiting team then you should visit magnet Cowork.
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About the AuthorTushar Mittal
Joined: March 15th, 2019
Articles Posted: 1