The Collaborative Office Environments Blog had a great list on the benefits of coworking.
Posted by William Lewis on Jun 9, 2015
Over the past year, we’ve being bringing you as many important updates on the coworking explosion as we can. Now, we’re going to list out some reasons that you may not have thought about on why individuals/startups/small companies are gravitating to this type of environment.
1) Instant Access Need space quickly; here it is. Take a tour, figure out your requirements, and move right in–no waiting weeks to get a lease done.
2) True Fixed Costs This is an absolute must for any startup/small business. Forget having to project CAM, utilities, IT cleaning services etc will cost. It’s all built in to what you pay. Need more conference room time? Need a bigger space? You know the price upfront, no surprises. Everything’s neatly listed out on an established services menu.
3) No Long Term Commitment You can go month to month instead of heaving to worry about signing a lease for a fixed term. If your idea or business fails, you’re not personally responsible for it. also, forget the nightmare of negoitating the dreaded tenant fit out letter.
4) Easy Expansion/Contraction Space requirements changing do to growth/contraction of the business. No need to spend untold hours redoing a lease, moving from one building to another,etc. with all of the associated costs.
5) Motivational Factors People that work in these facilities are driven individuals. They’re cranking out 80 to 100 work weeks to make it happen. You can’t be with a group of 9 to 5 worker bees all day long and expect to stay motivated. People naturally feed off one anothers energy in these situations. Folks push each other to get it done. Its also the best talent pool out there you’ll find— these cats are all 5 tool players–they need to be just to survive.These facilities have their own unique company culture and tribal traditions that many people gravitate to.
6) Pay It Forward The startup/small business community functions under a completely different set of rules than big corporate America. People come together to solve each other’s problems. Success begets success. I truely believe you help everybody that you can– it will and it does come back to you.
7) Seminars/Workshops Many facilities provide guest seminars to their members on just about every subject. I’ve attended some absolutely killer ones in NYC given by some pretty high level people. on everything from coding to digital marketing to building a pitch deck.
8) Many People Are Not Going Back To The Old Class A Spaces Bad carpeting, cube farms, horrid grey carpeting outdated bathrooms and lunchrooms, etc. Folks will pay more a nicer space that has all of the up to date amenities.
9) It’s Flex Space For An Established Company Need an outpost in another city for two months–done. Space for 15 people while construction being completed–no sweat. Load in the laptops and go to work.
Again I say to you, If you’re a landlord, now is the time to take advantage of this exploding trend. I’m currently working with several who have embraced the idea and each one of them either has a waiting list or is converting more space.