The rise of co-working office spaces in India has added to more office space options for businesses. However, a lot of companies do find themselves wondering whether a co-working space is the right option for them or a conventional office space. We’re here to guide you through the advantages of each option to help you make a well-informed decision.
- Networking Opportunities
When it comes to networking, co-working office spaces offer plenty of opportunities. The nature of co-working spaces is such that it encourages people working there to talk, socialise and collaborate thereby resulting in several networking opportunities, plenty of which, could be beneficial for your business.
Co-working spaces offer plenty of flexibility when it comes to lease durations. Co-working spaces often offer contracts for shorter durations. Lower lock-in period allows for greater degree of flexibility to businesses.
- Reduced Operational Costs
Business costs can often add up quickly. Co-working offices today have all the resources and facilities to address the needs of modern-day work for their tenants. These resources are shared by all the tenants, a model which drastically brings down operational costs for each business.
- Variety Of Amenities
Most new-age co-working spaces are equipped with a variety of amenities that are helpful in attracting and retaining the right talent. Cafeterias, food court, coffee and tea machines, recreation areas, meeting and event rooms and lots more. These amenities are no longer considered extras but rather necessities in today’s day and age.
- Ready For Business
The speed to market of co-working spaces are extremely optimised with most of them being ready for their tenants the very next day. The advantages of co-working workplace’s plug and play facilities are hugely beneficial for businesses looking to set up office in a short span of time.
All businesses deal with sensitive information and a conventional office gives its tenants maximum security when it comes to protecting this information. Not only do rented offices give physical privacy, they also allow for heightened tech security to keep sensitive information private.
- Noise Control
Noise levels can drastically impact productivity. A conventional office allows for greater control over the noise levels when compared to co-working spaces. If you are an organisation that’s looking for a quiet work environment, this may be the better choice.
- Aligned To Your Work Culture
Each organisation has a works style and culture unique to itself and an office should aid that work culture. Several organisations focus on collaborative spaces and have open floor plans whereas many prefer private cubicles and cabins. A conventional office allows businesses to design a space that aligns with the company’s work culture.
- Long-Term Reduced Costs
While co-working is often lauded for it’s reduced costs, in several cases, a rented office can actually bring down business costs in the long run. Costs are often high in the initial stages of setting up a conventional office, but these costs will stabilise and optimise with time.
Example: For a small business, a co-working space is a great money saving option, but if you’re looking to grow your team and add a sizeable number of people in the near future, the cost per seat can quickly add up.
Conventional offices offer far more stability than co-working spaces, especially if you’re looking for a future-proof solution. While co-working spaces are great for young organisations, established companies are more likely to benefit from a conventional office as it can offer a stable home to the business for the next 5,10 years without added worries about growing, moving offices, etc.
- Branding & Customisation
While branding options in the co-working offices are often limited to company logos, a conventional, private office can be truly customised to reflect your organisation’s values and culture. Your organisation will not have to share its environment with the work environment of other companies. The space can be truly reflective of your company. This is especially useful when you have potential employees and business clients visiting you.
If you are still on the fence between the two choices, post your requirement on our website here and we’ll get back to you with the right options for your business.