When you’re ready to move your business to a physical location, you need to choose between a coworking space and a traditional office. The right choice depends on your type of business, how you want clients to view your business and your production goals. In order to make a sound decision, consider the advantages and disadvantages of each office space.
Pros and Cons of a Coworking Space
Coworking is a phenomenon that has revolutionized how people work. Such a space often has an open layout, and the company employees share it. Usually, the space is filled with free coffee, comfortable furniture and shared technology, such as Wi-Fi and printers.
For these reasons, a coworking space allows employees to move freely around the space. This freedom gives them the opportunity to meet like-minded people. As a result, they build a community spirit that promotes collaboration and boosts creativity. Also, there are no long-term commitments or expensive upfront costs since furniture, renovation and utility costs are usually included in the fee.
However, when there are too many employees sharing a space, it can get crowded and distracting. Similarly, some of them might not have access to the resources that they need because co-workers are using those resources. In regard to meeting with clients, a coworking space might present the most professional brand image.
Pros and Cons of a Traditional Office
A traditional office is a private headquarters for your business and is built for focus and productivity. Although the office might be open, you have the option to install individual offices or cubicles for your employees. Typically, there are conference rooms for group and client meetings as well.
Because of this layout, a traditional office is ideal for a business that has nondisclosure agreements with clients or handles sensitive data. It provides the privacy required to keep documents, conversations and data secure. Also, having individual spaces for employees to work reduces distractions so that they perform better. The dedicated meeting space provides a better brand image to present to clients as well.
However, employees in a traditional office have fewer chances to network with others in the office and industry. Similarly, the barriers of individual offices discourages collaboration and may hinder creativity. In addition, a traditional office tends to come with a long-term lease and requires resource management.
Choosing the Best Space for Your Business
If you work alone or have a fairly small business with few employees, a coworking space might be more beneficial. It’s particularly ideal if you want to foster a creative, collaborative work environment. If you frequently meet with clients or your business has a large team of employees, a traditional office could benefit you more. It’s the better option if your employees work on different tasks often, too.
In the end, choosing between a coworking space and traditional offices depends on how you want to present your business and how your employees will be most productive. However, make sure that you also consider the cost and other factors before you make a decision.
Join Our Coworking Community Today
FORUM offers various membership levels, defined by spaces from hot desks to private suites, built for a community of professionals seeking elevated work experiences. Contact us today to learn more about what FORUM can do for you and schedule a tour.
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