Coworking 101 – What is Coworking?

You’ve heard of coworking. You picture a large room, like a library without the books, with people sitting with laptops, tapping away. It’s kind of like that… but so much more.

“Coworking is a hospitality-driven and flexible working environment that has revolutionized how people experience real estate, that allows for diverse groups of people to work together, and that centers around the principles of community, openness, collaboration, accessibility, and sustainability.” - Allwork.space

Coworking is a shared office environment that encourages collaboration, independence, and flexibility. There are thousands of spaces worldwide, set up in a variety of ways. Floor plans vary from large, open spaces with shared tables to cubicles to several rooms with private offices within a larger space. The difference is part of the appeal. There is a space layout to suit every type of worker and business! 

They are all similar in that they provide office space with a membership format. Workers pay fees to belong that vary based on the number of days they’ll be working and the amount of space they need. 

Technology makes it easy for people to start their own businesses and work remotely. More than 3.9 million Americans now work from home at least half the time. Many companies help remote workers offset the costs of a coworking space, as it benefits them with a lower overhead.

There are currently over 20,000 coworking spaces in the world, and membership is increasing significantly. By the end of 2019, almost 2.2 million people will work in coworking centers. As the numbers of “digital nomads” and remote workers rise, the need to work in flexible spaces comes along with it. The days of internet cafés have shifted to full-service office spaces with a full menu of membership perks. 

That's a lot of people no longer in conventional office environments. Even with home offices, workers miss having coworkers, separate meeting rooms, and being close to an urban center. Leasing an office independently doesn't make financial sense, so coworking spaces are ideal for millions of professionals. It's a place to focus, meet with clients, and possibly find new business partners.

• Flexible terms
Renting space in a coworking facility is on your terms. You can work for just day or two or keep your membership active for years! Depending on your choice of membership, you can decide to leave the country next month and work in a space overseas…it’s up to you!

• Productive environment
Coworking spaces are built for you to get work done. Because you don’t have to worry about the distractions of home or the additional expenses and issues of renting your own building, you can focus on the task at hand. Plug in and get right to work! 

• Work-life balance
Entrepreneurs often work 24/7. Answering emails at the dinner table or during a vacation becomes the norm when working from home. Having a dedicated workspace can help! Coworking allows you to focus on your professional tasks during designated times. When you’re not at work, you’re more likely to relax and enjoy the other facets of life. Preserve your family time and self-care by becoming a member.

• Professional community
In a coworking space, you are surrounded by professionals like yourself. There is a built-in group of people to brainstorm with and help succeed. Valuable collaboration happens organically and connections lead to growth.
Most coworking spaces host regular events open to the larger community as well. The space becomes a hub for entrepreneurs with a wealth of local talent and resources.

• Amenities
Yes, there’s always WiFi, and it’s fast. There’s also coffee. But you may not consider things like cleaning, printer maintenance, and dishwashing soap – those can add up outside a coworking space. Even in a home office, where you do those things yourself. Your time is better spent building your business than changing the toner cartridge. 

Coworking is ideal because it enables growth, fosters well-being, collaboration and connection while being budget friendly. Coworking spaces can benefit the community at large by increasing small business, helping freelancers become more successful, creating happier remote teams, and therefore boosting economic conditions. Many spaces are created in real estate that may not be feasible for other purposes – empty malls, hotel lobbies, shuttered factories – encouraging urban development and revitalization. It’s also not just a passing fad. After all, 60% of members surveyed in 2019 do not plan on leaving their current coworking space.

It just makes sense. Join the coworking movement!