If you’ve been looking for an office for your startup, you’ve undoubtedly been shocked by rental prices, overwhelmed by the idea of furnishing the place, and have likely considered just working out of your house or a coffeeshop until the business makes some money.
With co-working spaces – fully equipped, beautifully designed, furnished offices that are devoted to providing desk space and flexible leases for startups and SMEs – gaining popularity, there’s now a less traditional, very appealing office option that many company founders are looking into.
But are co-working spaces really a good deal? And would one be a good fit for your team? We’ve listed a few things you should keep in mind when considering a co-working space and whether or not it’s a smart real estate option for your venture.
First things first: the financial aspect. If you have a lean team, renting a few desks at a co-working space may make more sense than plunking down security deposits, first and last months’ rent, and broker fees for an office of your own – at least for a while.
Though the reality of rental fees at most co-working spaces is that you are paying much more per desk than you would if you had an office of your own, it may still be a more cost effective option for your business until you have a larger team.