Many people who are self-employed, or do an office job remotely, work in isolation from home. While this can have huge benefits – there’s no dress code, wake up times are really relaxed, the commute is hundreds of times less stressful and it’s possible to have tasty snacks on tap – working at home for elongated periods of time can have negative impacts.
Co-working space is the idea of working with people, on separate projects, and for different businesses, but together in a shared space. These people will be your ‘colleagues’ even though you won’t be working for the same things.
You’ll share-friendly office banter, attend social events together, and bounce ideas off of each other.
Generally, this will happen in co-working spaces. These office-style complexes will include work areas, tea and coffee stations, kitchens or cafes, and social spaces. They will often be modern and well-furnished offices, making use of natural light and fresh surroundings.
In a nutshell, co-working happens when a variety of individuals and businesses share the same workspace.
Often, a dedicated co-working space will consist of a large common area, filled with office desks and seating, in which different people and businesses will all work on their own projects under the same roof.
Co-working spaces also typically provide shared amenities, such as office meeting rooms and kitchen facilities. Some also offer private offices (WeWork private offices), enclosed office spaces that businesses can hire out solely for their own use.
Explained: “What Is WeWork”?
Gust and WeWork have joined forces to offer Gust Launch Raise subscribers 20% off your new office at select WeWork locations around the world with no commitment for up to 6 months.
WeWork is a global network of co-working spaces where companies and people grow together. They transform buildings into dynamic environments for creativity, focus, and connection. WeWork believes that CEOs can help each other and offices can use the comforts of home.
“Reserved cubicle-free space with the sights and flooded in natural light and creative energy”.
Each WeWork office spaces include desks, chairs, desk lamps, and lockable filing cabinets
Office meeting rooms
Spacious, unique common areas
Hard-wired (Ethernet) connections as well as access to Wi-Fi
Each WeWork floor has at least one multi-function copier/scanner/printer
Free refreshments including micro-roasted coffee, tea, and fruit water
Onsite staff and managers available from 9 AM to 5 PM, Monday through Friday
Private phone booths on all floors for private calls
Catered lunch while members share expertise, knowledge, and valuable tips
One-on-one sessions with investors and industry leaders
Wellness groups and events
WeWork’s Services Store is a one-stop-shop for services and software that help members run more efficiently. When your team joins WeWork, you can take advantage of lower costs on health insurance, accounting software, productivity tools, and more.
Do you really mean by “Coworking” or “Co-working”?
Basically, people spell coworking, which is incorrect. The problem of the coworking hyphen is especially problematic in the English-speaking world. There, space operators often write to journalists, market online, and send out press releases about their locations. And naturally, they mostly want to refer to the word ‘coworking’. However, it won’t be considered. In many newspapers or online posts, this word is mutated into ‘co-working’. It’s been this way for several years, and the outcome is that Google now returns more results for the hyphenated version than the original.
Requests for journalists to change this practice have gone unheeded. A simple website was even created years ago, asking if coworking should have a hyphen. The simple answer was “no”.
Yet why does the English mainstream media refuse to accept an unhyphenated version of the word? Is it Microsoft Word? No, that program can allow all individual versions of first and last names to get rid of cowering or the hyphen. Out-of-date dictionaries? There are almost a thousand websites of spaces that refer to coworking as a helpful source.
So why? It’s because while freedom of the press and journalistic independence are considered important elements of an open society, there’s one thing that is held as more important: style. In particular, Associated Press style.
History Of “CO-WORKING SPACES”
Broadly speaking, it is about space sharing, using the same office between different professionals of the same or different companies and different sectors. In this way, expenses and office services are shared, while the relationship between different sectors and projects and collaborations is fostered. In addition, a space like this invites movement, companionship, innovation, and social involvement. A co-working has a beneficial impact on your community (the co-workers that compose it), your neighborhood, and your locality.
But co-working space is much more than that. The true purpose is to create an environment and a community of co-workers, a space that encourages networking, collaborations, growth, and creativity. It seeks to escape from the isolation that exists in a traditional office or in one’s own home; the coffee machine will stop being your best friend and the refrigerator your best counselor. The house will not fall on you again.
However, co-working is not as young as they paint it. There is documentation dating back to the 1600s in which co-working was already spoken of as a collaboration between God and his subjects. But, it was in the mid-1990s, in 1995, when one of the first spaces considered as co-working was born in Berlin, Germany. The C-Base e.V. that initiates the project “BerlinBackbone” with a space in which different people who knew each other and exercised their work under the same roof, as a community.
Bernie DeKoven is considered by many to be the father of co-working. He was the first to use this term in 1999 to refer to working together and collaboration thanks to the possibilities that computers gave us. In addition, that same year, the first shared offices were born: 42 west 24, New York Share (co-working spaces in New York).
During the first decade of the year 2000 when many co-working spaces began to appear. In 2002, only three years after Bernie gave life to the term, it is in Europe where they are seen growing. In Austria, Schraubefabrik appears, a space designed for the community of workers who founded it: architects, public relations, cooperatives, freelancers, or micro-companies. In this way, they could stop working at home and move to more friendly space. They themselves proclaim that community as the mother of co-working.
In 2005 the first co-working space as such was opened in San Francisco by Brad Neuberg, who offered from 5 to 8 desks a couple of days a week and different services such as; wifi network, meditation rooms, bike rides, massages or shared meals. Space closes only one exercise after giving way to Hat Factory; This was the first full-time co-working space, offering the freedom of a freelance but with all the necessary resources for a co workplace. This space gave rise to Citizen Space, which is still open, with venues in Las Vegas, California, and San Francisco.
Google enters the scene and co-working becomes trendy. The term begins to be part of the database of Google and other search engines. In 2007 it is considered as a trend and this triggers an increase in the volume of searches and other related terms such as “digital nomads”, “shared office” or “shared workspaces”. During the following years, co-working is directly related to the United States. It is not until 2010 when it is taken into account in Europe.
In recent years we can see the consolidation of this type of space, the recognition of the working model throughout the world, and the wide range of opportunities offered by this kind of service. Thanks to Co-working Spain we can know that in Spain there were more than 1,500 co-working spaces at the end of 2016. In 2010 there were around 50. Thanks to the statistical portal par excellence, Statista, we know that in 2017 there were more than 13,800 spaces around the world.
In these types of spaces, there are different work areas. It usually consists of 3 main spaces: the openwork zone, hot desk or freedom (Vortex Zone in our space), where you find wide tables shared with the rest of co-workers and a more relaxed atmosphere; a private office area where you find personal desks and a calmer environment (Focus Area in our space, Vortex Co-working); the office meeting rooms; a social zone that can include a kitchen, cafeteria or restaurant. At the same time, some have the “virtual office spaces for rent” option, which offers visibility, WeWork cost savings, and more flexible offices.
We will also find different types of co-workers: those fixed or office, that act like any traditional worker fulfilling a schedule; the flexible co-worker that has no time of entry or time of departure; and, the night co-worker, the one who prefers to work beyond the evening hours. Without forgetting what we now call “digital nomads”, taking advantage of the possibilities offered by the network today: online meetings and being able to work remotely from anywhere in the world.
In short, co-working spaces are “accelerators of chance” that have expanded throughout the world in recent years and that offers endless possibilities. They are designed to house creative, sociable, enterprising people who are eager to learn. They are built to break with isolation and create a good atmosphere of coexistence, favoring collaboration, and social gatherings. The borders disappear leaving room for hybridization between companies, whether by economic, technological, or social sectors. In addition, the same facilities can organize events, courses, or workshops that complement the training of co-workers who are part of the same community. A place where entrepreneurs and companies live together sharing spaces experiences and resources.
As of 2018, the market has a variety of huge players that are giving spaces for work a run for its money. Co-working franchises such as Impact hub, Venture X, and Serendipity are expanding throughout the space.
In 2019, WeWork company had an unsuccessful IPO attempt with SoftBank causing works valuation to drop from 49 billion to 8 billion allowing SoftBank to seize control of the company and fire its management team.
2019-2020 New co-working platforms like WeWork are rising to the scene to fill the void between co-working software, spaces, and remote workers.
Growing office space Trends And Statistics
Over the last few years, co-working has become an exceedingly popular option. By sharing workspace with other companies, businesses are able to cut costs and still provide employees with a dedicated workspace
Co-working Space Trends
There were just three co-working spaces back in 2005. The count had grown to 7,800 two years ago, and now stands at 13,800. The number of co-working spaces worldwide keeps doubling every year and is predicted to reach 37,000 by 2018.
Co-working space Statistics
According to the annual Global Co-working Survey, 71% of respondents described feeling more creative since joining a co-working environment, and 62% said their work had improved.
40% of the workforce will be freelancers, independent contractors, and solopreneurs by 2020.
This statistic shows the number of people working in co-working spaces worldwide from 2010 to 2015. In 2015, there were approximately 510,000 people working in co-working spaces worldwide.
The number of global co-working members to increase from about 976,000 in 2016 to just over 3.8 million in 2020.
62% of all co-working owners this year reported wanting to expand their spaces, showing a slight increase from 59% as reported by the survey results from previous years.
How co-working spaces are making profits:
Meeting Spaces – 10%
Event Spaces – 9%
Food & beverages- 5 %
Tickets for events – 4%
Virtual Offices -3%
Others – 8%
90% of respondents said they felt more conﬁdent when using shared office space.
Detaching from the formal business environment as well as reducing the commute time increases employees’ satisfaction with 65%.
This statistic shows the anticipated change in the number of members in co-working spaces. During the survey, 34 percent of the respondents stated that they anticipated many more members in their co-working space this year than the previous one.
For spaces that have 50 or more members, the likeliness of expansion is 25% greater than those who have 24 members or less.
A business could save up to 75% in total wework price by opting for a temporary office space rental.
During this survey, 36 percent of the respondents stated that lack of workspace is very seldom, or never, a problem in their WeWork co-working space.
At $255 per square foot, Hong Kong’s office space short term market is at least $100 more expensive than New York’s and almost three times pricier than Singapore’s.
What improves once you start shared office space:
Social Circle – 92%
Less Isolated – 86%
Business Network – 80%
Productivity – 75 %
Private life – 60%
Income – 38%
87% of co-working respondents report expectations of growing their memberships, while 82% anticipate increased revenue.
Typical Question “Who Uses Co-working Spaces”?
Co-working space benefits Entrepreneurs, Freelancers, and Startups. Co-working spaces or shared office space is the need of the time and its billion-dollar industry. Shared office space is best suited for freelancers, startups entrepreneurs in which almost all things are arranged and managed by WeWork companies.
In a co-working space or shared office, you pay as per the use of space, infrastructure, and facilities. And many big and small space co-working startups are continually opening in medium and big cities. And the availability of co-working space in your area and city is also depending on the working population and offices. But the demand for co-working office space is growing. And now many people and offices are also converting their offices to let into co-working or co-partnership in premises wework costs.
Co-working space is mostly used by freelancers, startups to reduce the cost and increase productivity. Mostly writers, digital content creators, digital marketers, graphics designers, programmers, and various other IT-related startups and companies use co-working space. But the use of co-working space is not limited to rent office space startups and IT-related startups, it can be utilized by lawyers, consultants, and many others as per the creativity.
Benefits Of Collaborative Office Space And Freelance Workspace :
I think the one method of working as a freelancer/blogger is combined with 3 styles. Home Office + Travelling (hotel room, travel van) + Co-working space. And I think it’s enough to feel fresh, energetic and excited about the work.
But what are the benefits of shared office space?
1.Diminish wework price and improved quality or productivity:
The most problematic thing in startups and small businesses is the monthly short term office space rental cost. The person who has started alone have to pay for 100 sq. to 500 sq. foot area. While he/she only uses 20 sq. And also, they have to deal with house owners on rents, electricity, water, maintenance, and many other things.
Not only that, but the neighbor you will get in a small office room or in a local city can also be distracting. You can listen and watch thousands of things that are not related to your profession and business. And they can distract you such as you’re writing code for search widget but someone bells your door and you will go there.
And you will find that your rent owner is coming to you and want to file is ITR.
As he knows that you can use a computer, the internet and you’re capable of doing it. But you’re not an accountant and CA. Nor you mean that.
You can help in one time for free, but then 100’s of people will come similarly in a year. And if you spend 1 hour each then you can estimate how costly it can be for you in the long run.
To earn money, you don’t have to do all the things. Nor you need all the people. Nor you need social exposure. Nor you need fake appreciation.
The only thing that is important as a startups freelancer or businessmen is that focus on your skills, target clients and work. And do as much work as you can be related to your profession then you will be able to grow from small business to big business fast.
That’s why in co-working spaces in London, you don’t have to maintain the office, nor you have to clean the floors, nor you have to stand in lines to pay the electricity bill. Also, not you have to pay rent in cash.
Everything is maintained and provide to you as per your demand and shared office packages options.
And it will 50% less costly and 90% more distraction-free.
2. Motivation to work hard:
“Success comes down to hard work and dedication”.
Staying excited and focused on your job can be hard. The lack of motivation at work can be a result of a number of causes including burnout, not enough sleep, boredom, an overloaded desk, no clear goals, repetitive and monotonous actions, or even just rainy days.
The WeWork space environment provides you mental support and inspiration to work hard. When you see other people are working, you will get influenced. In your own home office or home type of office, no one is watching you or you don’t watch others. And you can sleep, or use social media and that impact your productivity negatively.
That’s why when you get influenced by other freelancers, bloggers in free co-working space, you will become more productive and focused.
The presence of other hard-working people around us, influences us to grow or run with them.
That’s why it’s a popular line in leadership workshops or business books is that “surround yourself with the growing people to become successful in career and business”. But make sure you work and learn. And not just join the shared office to take selfies to share on social media.
When you see how others work especially more knowledgeable, expert, experienced freelancers, developers, writers, digital marketers, how they talk, what they talk and what kind of things they are doing then you will get the practical proof of those facts, data, and information in shared office space that you have watched on YouTube, read in blogs, listened in podcasts and learned in online courses. You will learn fast and improve.
That’s why you’re joining the co-working space. Another one reason to join a co-working space is to grow your income. You know that to grow income you have to learn. And in co-working space, you will get many ideas, methods when you join other similar co-working space industry experts.
3. More growth opportunities in career and business:
As you know there are many fields and various works in the IT field such as digital content creation, digital marketing, blogging, programming, business analyst, social media marketing, and data entry.
Not only freelancers are using co-working space but startups, small businesses, and other industries are also joining. It’s less costly for business operations.
When you on the same floor, there are high chances that someone will contact you for the work. For example, you work as a web developer and there is someone who sits next to you is a digital marketing manager or a business owner. If he/she needs something to develop then you’re the nearest option.
But it also needs communication and networking skills. Such as you can give them your card, profile link, or something. But it’s possible that you can get office space and more work when you work in the shared office space environment. The startups/business/managers in the co-working space definitely need freelancers and writers.
4. Personal and Professional Development
All kinds of professionals and businesses are using co-working spaces to collaborate fast, focus on business and less on drinks, lunch, and dinner. Most of the professionals in co-working spaces know the importance of collaboration, networking, and productivity in freelancing, startups, and business.
Now if you’re currently working from a village for example as a freelance writer and you can join the shared office space and open the co-working environment. You will learn many things such as:
How people collaborate with each other.
How they are hiring and managing the people.
What type of industry or startups they are growing?
and many other things.
For example, as a writer or blogger, you need lots of practical experience to write effectively. But you don’t get those experiences in a single room in your village. You have to communicate, you have to join seminars, you have to read books, you have to watch and analyze others and you have to understand how the co-working space industry is working and growing. And it’s not possible in a small city or working alone in a single or two-room set.
As a writer, you can’t put yourself in a comfortable situation. If you want to write impactful content then you have to learn to collaborate, experience and use various platforms, technology, and methods. So that your writing can guide people. Not all of your followers can able to sit like you in a working room and work 12 hours.
The new generation of IT professionals, clients is different from classical. They try and experience new things to earn money and work. And that’s good. But your responsibility grows here that your writing can guide or your skills and experiences help the clients, audience, and team members.
So, as a leader, you have to experience the shared office space so that you get the ideas about the possibilities to grow your career and business along with your team. And co-working environment provides you options to collaborate, focus on your business, and capture the possibilities to grow your business and personal finances. And you just have to do the same for your clients/audiences.
5. Possibility of innovation and new startups:
The people working in a shared office space are professional and have big dreams. They are earning from their online business and it can be a blog website, affiliate marketing, freelancing services, social media marketing manager or remotely supporting technical and consultancy.
Each of them has thought once or has in mind that one day they will build a billion-dollar company.
But to do that they know they need a team and highly skilled professionals. If not a big team, at least they will get a good partner who has similar dreams and skills.
For example, the combination of digital marketer + Web/App Developer is the perfect combination for startups.
So, I mean that when you work in open space, serviced offices you will interact with those people in events, seminars, and serviced office activities. And it’s highly possible that you will get someone who can work on a side project or new startups or new technology along with you. And it will explore entrepreneurship and innovation opportunities.
There are many benefits of using co-working space for business startup office space and while working as a freelancer.
So, how you can decide Is that moving to a co-working space is good for you?
Ignore the above benefits for a minute and think what is your monthly or yearly financial, career, or business offices for lease.
For example, if you’re already earning enough money and but you’re not able to meet new people, not able to network with industry experts and not able to improve your skills as required then you can join co-working space.
Another example, if your goal is to save more money from running an office then co-working space is a good option for you.
If you’re looking for an office space to start a new business, but don’t want to pay 20,000 to 500000 per month rent then you can apply for a private or shared small office in the co-working space company in a minimum of 8000 to 10000 or per seat.
Some tips to track the best co-working spaces:
1. Find a we-work space that is right for you.
When we first opened The Yard’s Brooklyn location in 2011, we were pretty much the only game in town. Folks would come in from all over town because they didn’t have many options. These days it’s a little bit different.
Berlin’s All-Things-Co-working digital rag publishes an annual “Co-working Forecast” that reads, among other things, that the popularity of co-working and the number of co-working space is continuing to grow. This means more options, many more options, for the consumer.
Choosing a co-working space is kind of like buying a car. When Ford first launched the Model-T, well, that was your only option. But now you can choose from thousands of models from dozens of manufacturers. It’s the same for co-working. Do you need a pick-up truck or a mini-van? A coupe or a sedan? Shop around!
My advice? Take a day and schedule visits at three or four different spaces. When you’re visiting the space, take note of the other people there — do they seem happy? Is it crowded? Is it loud? Is the kitchen clean? Is the management staff friendly and helpful? Test drive the space if you can!
2. Find out the suitable we-work location.
If you’re used to working from home, be sure that the commute to your new co-working space won’t deter you from going. You should be happy to travel to your new office!
If it’s three transfers and 45 minutes away from home, maybe consider space closer to home, even if it’s not as cool or comfortable as space farther away. You can always change spaces down the road. And you may learn more about what your office space priorities are by shacking up at a WeWork location close to home for a few months.
Almost all co-working space memberships are month-to-month so don’t feel locked into anything. Try out a few spaces. Be promiscuous!
3. Know what you prefer.
All co-working spaces host events: Software workshops, bagel brunches, art exhibitions, business meetups, panel discussions, pitches, lectures, film screenings, etc. Ask yourself if networking is a priority for you. If it is, then find a space that hosts events you’d be interested in, or rather, events that people you’d like to meet are interested in.
Furthermore, most co-working spaces have corporate office spaces to offer discounts and benefits to their members. We-work co-working space’s benefits include discounts at BLT steakhouses and AT&T. The Yard’s partners include The New York Times, The Freelancers Union, The Kimpton Hotel Group, and The Tribeca Film Festival.
Be sure you take full advantage of the events and benefits at your office space. Milk it for all it’s worth! And if your business is in line with your co-working brand, maybe you could offer a discount to members or offer to sponsor an event. Why not?
4. Networking shouldn’t hurt.
How many of you live in a building where you don’t know your neighbors? I don’t mean smiles and nods in the hallway, I mean you ask each other and tell each other about your days, maybe share a drink or a meal once in a while. It’s not easy. And for a lot of people, it doesn’t come naturally.
It takes a sincere interest in other people. Of course, some people are better at this than others, but what I’ve learned is that you can develop engagement among people by just asking a few questions. Instead of just saying hi or some anecdote about the weather, ask your coworker what they’re working on. Ask them what they need. Is there anything you can help them with? And then, here’s the real trick: you have to listen to what they say.
I don’t mean to sound patronizing, but it’s an important step to understand… if you’re truly listening to people, if you’re genuinely engaging folks at the coffee maker, in the stairwell, in the lounge, you’ll absorb what they tell you and give that back to someone else. Sometimes it’s as straight forward as introducing two people, one who told you they’re looking to rebrand their product and another who said she was interested in taking on more rebranding projects… voila! There’s an introduction that can further spurn community engagement.
Commercial office lease takes cultivation, curiosity, and consideration.
5. Remember it is a Coworking ecosystem…within an ecosystem.
A good co-working space engages with its neighborhood and outside the community. When The Yard opened on the Lower East Side, we filled up in just a couple of months: suddenly 300 people were coming to work at 85 Delancey Street every day. That’s not a crazy influx but definitely worth paying attention to. Our new presence in the neighborhood could have been a strain or a boost to the community.
As the Director of The Yard, I’ve tried to engage the established neighborhoods where we’ve opened locations, building our own mini-communities within these great neighborhoods of New York City. As down as I feel sometimes about gentrification or homogenization, I’m still consistently inspired by each neighborhood’s deeply rooted residents and business owners who know everyone on their block and support each other’s endeavors.
One way I like to think The Yard contributes to the community is through our local artist exhibitions. We’ve hosted dozens and dozens of exhibitions with local artists and curators including the LES-based International Fine Arts Consortium (IFAC) and we converted our lobby entrance space into a cafe with The Bruffin to invite locals and passersby to stop in for a snack or coffee in our space. The Brooklyn location is currently exhibiting a show of three local photographers.
A lot of that outreach can come from members. I would challenge you to make an effort to patronize the local businesses around your co-working space. Engage the folks who work at the restaurants where you eat lunch before you head home stop for a happy hour drink and chat with the bartender, smile at the bodega. It’s these little things that can enrich a community, your community.
And isn’t that all we’re trying to do with co-working? Enrich a community? Enrich and shared office space for entrepreneurs and freelancers working together in the coolest neighborhoods of the coolest cities in the world?
This experimental research proposed a set of dimensions linked to collaborative capabilities in co-working spaces in order to help strategic decision making among coworking space founders and community managers.
It suggests that collaborative capability in co-working spaces depends on four interconnected dimensions that relate to various extents to two different types of co-working spaces, where collaboration capabilities foster such spaces as enabling contexts to reconfigure organizational resources through knowledge sharing, enhancing a creative field, supporting individual actions for collective results, and supporting collective action towards an effective execution.
This study also proposes that Convenience Shared spaces are mostly related to knowledge sharing and supporting a collective action towards an effective execution, whereas Community Building co-working spaces are more related to enhancing a creative field and enhancing an individual action for the collective. Please share which part of the blog you really liked in the comment box below.