Coworking sites, which first appeared in the United States in 2006, are collegial, shared open-plan areas and private office areas where people work independently but communally. Members are varied in what they do and why they join. They include entrepreneurs, freelancers and other independents weary of working from a coffee shop or home, and those in search of a social network.
The spaces and amenities vary, but typically include free Wi-Fi and coffee, as well as a copier, whiteboards and conference rooms. Membership plans usually are based on usage—from one day a month to five days a week—and whether one wants a dedicated or communal desk or table at which to work. Some sites discourage telephone conversations; others have few or no restrictions. Some don’t mind if you drop in unannounced for a look, but others prefer appointments. A few have even provided day care.
Coworking is a growing trend. Worldwide, there were more than 100,000 people working at more than 3,000 co-working spaces last fall, including 937 spaces in the United States.
To find the nearest coworking office near you, visit the coworking wiki directory—which is maintained by the community of coworkers worldwide.
Running a business costs money, but there’s an easy way to reduce costs: coworking.
Coworking is an ideal solution for entrepreneurs, startups, small businesses, and growing companies that want to save on overhead costs.
Renting or owning your own dedicated office space involves a massive investment of time, money, and resources. Costs may include:
Managing your own office space simply costs money, and those costs can add up over time. In addition to the financial savings, coworking provides many additional benefits such as business networking and access to resources.
With coworking, you not only save money, you can also join a vibrant community of other entrepreneurs and small businesses, increasing your exposure to leads and potential business partners. Of course, the bottom line comes first. Here are some of the cost benefits:
This is where the numbers show that coworking is especially beneficial for smaller businesses. Why spend money on renovating an office space that you’ll just be renting out for a few years?
Many of your workers do not need their own offices to get their work completed. Many of today’s tech workers can easily complete projects sitting at a cramped table in the middle of a noisy Starbucks. Coworking gives your workers the camaraderie of a social working environment that provides the right balance of productivity and personal interaction.
Conference rooms are critical components of office space, not just for internal meetings but for presentations and meetings with clients and potential customers.
Maintaining an on-site kitchen is not only costly, it’s usually messy. You won’t have to bother with the dirty coffee cups, dishwasher maintenance, or refrigerator repairs with coworking. (That said, your employees should still clean up after themselves in a coworking kitchen!)
You actually don’t get as much of a tax benefit with your own office space as you might think. After commercial standard loss ratios and common space, the technology and meeting space allowance is at 3,000 sq. ft., which in effect gives you 1,400 to 1,500 in working space. The true loss in self-managed space is between 40% to 50%.
As you can see, there are many cost-saving benefits of coworking. If you move to a coworking space, your occupancy costs drop by 70% or even more. Call us at WorkSocial to find out how.
People love coworking and now, you can have offices leverage these benefits. One sure shot method to promote happiness is to convert your office into a WorkSocial coworking space.
While coworking spaces provide these unique benefits, there are many ways companies can recreate these same benefits within their own workplaces.
By using coworking spaces as inspiration to drive productivity and collaboration, you can set up your business to reap similar benefits throughout your workforce.
Contact WorkSocial to see how we can help you connect, create and grow.
CoWorking spaces not only work for lawyers they are a critical for a law practice’s success. Lets take the example of James Practice [name changed]. Jame is is a member of WorkSocial and other shared office spaces.
Before joining WorkSocial James worked from home. A home office was probably the cheapest option for a solo practitioner. Until one day James landed a client that was buying real estate like candy.
Nothing blows your image than a barking pet at a closing. And if the thought of seeing only your family and the person delivering your takeout food sounds isolating, you might want to reconsider if you want your clients in your “business.”
After a crazy a embarrassing event, James joined WorkSocial. Ever since his business tripled, his profitability sky rocked and productivity increased.
Here is why
James went to work everyday
Working from home meant that James had flexibility about when to start. Sometimes, the flexibility turned to procrastination. Since moving to a space James “got very organized.” One day the client service team at WorkSocial needed a contract reviewed. “I did it for free. They gave me a month off.” He never looked back. Now he works with WorkSocial all the time.
Inflow of clients
Instantly grew my business, the “10 WorkSocial members became my clients.” James had assumed that Coworking spaces usually have an open layout. WorkSocial had private offices, conference rooms and open spaces. They had other spaces with open areas and I used all of it as needed.
A large part of what his law practice was printing, collating, filing and meeting preparation. Everyday James needed to make a choice. “Grow the business, sell my services, print my documents and talk to clients.” WorkSocial had an admin, Ally, on site, and, James tried to make a deal with her for work. “No James its my pleasure and its included” converted James to a fan.
Here is what WorkSocial Offers:
Fun stuff designed for productivity
Work requires discipline. WorkSocial follows the principles of the corporate athlete. Frequent visits from local practitioners offering yoga, stretching, meditation and massages had a great impact on my productivity.
With a little extra time and energy James decided to grow his business. He wanted to develop a website. WorkSocial, funded the development with a $5,000 loan to develop a website. One of the community members did the work . Someone else did the SEO and now marketing is in full swing. With 5 real estate closings a week and 20 clients from WorkSocial, James has rented private offices and hired an associate.
Guess what, James still rents space at WorkSocial and has weekly office hours. Flexibility at a shared office space has advantages.
Full disclosure: WorkSocial | A happiness company is a company where I have a vested interest. The thoughts here in represent my opinions are not inserted to drive sales. My life is not a call for action instead it is a cause for action.