5 Tips for Finding the Best Co-Working Space for Your Business

5 Tips for Finding the Best Co-Working Space for Your Business

When the average monthly rent for a square-foot of office space in New York is over $6, you know you’re up against some challenges as a startup.

Entrepreneurs understand that there are a lot of obstacles for a successful business, and figuring out your office situation is a big one. However, these days, more and more people are looking to move away from the office and find the best co-working space.

Choosing your space takes deliberation, though, and we’re going to go over four important tips to help guide you!

What Is a Co-Working Space?

First off, let’s briefly talk about what is a co-working space.

Rather than starting your business from home or renting out a commercial office space, you pay a membership fee to work in a communal office with others. This means you could be a graphic designer who works right alongside someone who sells jewelry.

Think of it like the famous Pike Place Market in Seattle. While not exactly the same, that market is a collection of various businesses in a single, contained area.

Tips for Finding the Best Co-Working Space

There are many benefits of using a co-working space, but you shouldn’t just pick one at random. Here are a few tips to get you started.

1. Research the Basics

Most co-working spaces will have some kind of online presence. Whether it be a website, a social media page, or something else entirely, you should look into their basic information.

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For example, consider the following:

  • Location
  • Total space size
  • Allotted workspace size
  • Rates
  • Extra features and benefits

These are some of the most basic factors to research for yourself first. Find out if they charge extra for various features.

For example, maybe they provide virtual office services like Hoxton Mix does. Find out if these features are optional and how much they would cost.

2. Find the Right People

One of the biggest advantages of using a co-working space is the ability to connect with other small businesses and entrepreneurs. It’s part of the overall experience, but you need to make sure you find a community that you fit well with.

If possible, try to meet people who are already members of the space to find out what they’re like and what industries they are part of.

3. Find Opinions, Read Reviews

There’s a good chance that you’re not the only person in your area who has been on the search for the best co-working space.

People may feel passionate – positively or negatively – about a particular space and it’s worth taking the advice of others with firsthand experience.

4. Carefully Review the Agreement

If you’re going to sign a lease, make sure you understand all the terms and conditions. You need to be mindful of the future of your business.

If something changes, you need to have a viable way out if possible, so consider having someone go over the lease with you.

5. Try It For Yourself

In the end, you’re never going to know if a co-working space is right for you unless you try it out for yourself. If possible, find spaces that offer free trial memberships.

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Even if you can give it a test spin for a few days, it’s a good idea to get a vibe for the daily routine.

Co-Working Space Is the New Office Space

These days, it just makes sense to bring our small businesses together under a single roof instead of dealing with absurd rent and insurance payments. The best co-working space takes time to find, though.

With these tips in mind, hopefully, you’ll be better equipped to perform your own research and find a communal workspace that works best for you.

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