A Co-working Space vs. Your Own Office
If you want to build an in-person team of employees, you need to determine where to work. Some small teams can use a co-working space to save money while giving everyone somewhere to meet. But other companies may find their own office is more beneficial. Here’s what to consider when choosing which is right for you.
If you have a tight budget, you may want to use a co-working space. You can get the amount of space you need, and you can expand later. Since you share the office with others, you won’t have to pay as much as if you got a lease for your own office. Co-working spaces also provide a lot of benefits to their members, such as free coffee and a mail service. Starting with a co-working space can be a good option for many startups.
Sometimes, you may want to customize how your office looks and where the desks are. When you rent an office, you have more control over the space. You can use things like office dividers Toronto or elsewhere, so you can separate employees without needing separate office rooms. But when you use a co-working space, you may need to use what they give you.
If you’re just starting your business, a co-working space gives you opportunities to network. You can meet other entrepreneurs and business owners in and outside of your industry. Then, you can learn from other successful businesses, and you can get clients through that network. While you can meet other companies in an office building, you’re pretty isolated. It will be much harder to talk to people in an office building, and people might want to keep to themselves.
Imagine building a successful business with a small team. Now think about where you and your team work. Co-working spaces and office leases both have pros and cons. So consider what’s important to you when deciding where to set up your office.