Co-Working Space: All You Need to Know Before Choosing One

Co-working space is not a new buzz word as it is an idea that has been around for over a decade now. Co-working is a business services provision model that involves individuals working independently or collaboratively in a shared office space.

In recent years, many entrepreneurs and startup owners seem to have bought into the idea for different reasons ranging from the desire for social interactions, savings on rent and overhead, and networking among others. It’s no surprise that we have so many players in this sector and in fact, our financial institutions and government across board have joined the thread.

With all the new year resolutions and goals to double income, sales and all. You need to know that where you work from has a significant impact on your deliverables every day and as a result would show in your income and sales. Therefore, you need to be deliberate when choosing either office space or a co-working space.

Here are some factors to consider before choosing a co-working space:

 

Location

The location of the co-working space should be considered first. It is advisable to choose a co-working space that is close to you to reduce the time commuting and also save up on transportation cost. However, you must also put your employees and your clients into consideration too.

 

Access

Find out how many hours of access a co-working space offers and if it suits your working hours, you may want to give it a try.

 

Structure

When we say structure, we mean the office design as it can affect your productivity too. You need to know beforehand the type of space that works for you so that it can guide you. If a particular co-working space does not have the type of space you’d like to own, look for another!

 

Amenities

Amenities such as a kitchen or storage space might not be crucial to you, but accessible meeting rooms could be. If you don’t have a traditional office, you will need a place to invite potential clients and existing customers for meetings. Look for co-working spaces with private conference areas that you can schedule for where necessary. Always ask about what part of the facilities are included in your contract and those that attract extra cost. Things you might consider necessary include high-speed Internet access, printing capabilities, or private rooms for making phone calls.

Workstation, Maryland Mall, Lagos. Picture Credit: Taslim Okunola

Security

This is highly essential as you’d not want to stay in a space that’s often open to theft.

 

Events

In the interest of supporting and growing their communities, many coworking spaces feature events, including happy hours, workshops, presentations, hackathons, networking events, Art openings and more. Take a look at the offerings and see if they speak to your interests, needs and skills you’d like to develop. This gives you plenty of opportunities to learn, market your business, and develop your pipeline. You might even be able to lead a workshop to build your brand and become better known in the co-working space and local community.

 

Cost

As an entrepreneur, not going beyond your budget is of great importance to you. Therefore, you don’t want to spend more money on a co-working space than you would on rent for a commercial building, so look for space with a reasonable price that fits your budget. Keep in mind that many of the perks offered may not actually be included in the standard fee — make sure to ask about additional charges for printing, kitchen access and snacks, phones, Internet, and any other amenities. Be careful to avoid scrimping and choosing a space you don’t like, though, as that could hinder your creativity and productivity as well.

I hope this is helpful? Do you know any other factors to consider? Please share with me in the comment or have you used a co-working space before? I would love to hear about your experience please share with me on the comment session.

 

Featured Image: Premier Innovation Hub, Akure

Deborah Soyombo

An addict problem solver and an avid writer of unique African startup stories.

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