The commercial real estate sector underwent a massive transformation in the last decade with the onset of a groundbreaking new trend: coworking. With an ever increasing number of upcoming startups and freelancers entering the market, together with the latest generation of workers armed with the latest in internet based work technology enabling flexibility in all aspects of working, the concept of coworking took the world by storm within a few years of its inception.
Coworking spaces are simply defined as community centric workspaces where people from diverse fields of professions work together in a common shared space. This simple idea caught on soon due to the numerous advantages they offer, all within a very affordable price range. Freelancers and entrepreneurs are particularly benefited from this arrangement since they could now rent anything from a plug-and-play work desk to a private cabin and office, fully furnished with all the amenities and equipments of otherwise modern corporate establishments, but at a fraction of the cost.
The benefits that startups can obtain from renting a private coworking cabin space are aplenty. Some of these include:
- Cost-effective:
As mentioned above, coworking spaces offer professional establishment of an office space at highly affordable rates. This particularly suits entrepreneurs and startups since they are usually financially stressed at the early stages of their journey. Therefore, instead of renting a startup specific private cabin in an established office with a lease period of years, it is much more convenient to rent a private cabin in a coworking space with shorter lease periods.
And not just the flexible renting arrangement, such spaces are typically designed to be flexible structurally as well, meaning rearrangement according to specific client requirements is a breeze, far less costly than it would take for the same task to be performed in established office spaces.
- Professional:
Coworking spaces are professional establishments. What is in it for startups? If you rent a private cabin in a coworking space, you will be working out of a professional business setup rather than a more informal arrangements like coffee shops or even your house. In case you want to meet potential clients or conduct interviews, it automatically creates a great impression on their minds when the meeting happens in a professional office setup, and the outcome is much more likely to be in your favour.
- Confidential:
Private cabins in coworking spaces are, like other private cabins, truly private. If your work, work related documents, or interactions need to be confidential, such spaces are a great cost effective solution. They are usually monitored 24/7 by CCTV cameras, and entry restricted by RFID or other means. This entails complete privacy and security in the duration for which the space is leased.
- Amenities:
Coworking spaces come with a great many facilities for its members, which you will be entitled to if you rent a cabin space. These amenities include, among others:
-
- High speed internet and state-of-the-art office technology and equipment
- Dedicated pantry or kitchen area
- Relaxation zone
- Staffed reception
- Parking space
Apart from these, coworking spaces offer a massive opportunity for education, collaboration, and networking since people from diverse fields come and work together in the same space and are always available nearby for interactions. These spaces also organise a multitude of events, conferences, workshops, etc. aimed at improving the overall work quality of members, which you are always welcome to participate in.
With the above mentioned benefits that a private cabin in a coworking space can offer to startups, it is no wonder why it has become the massive global phenomenon it has become today.