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(727) 725-2745
16703 Early Riser Ave. Land O' Lakes, FL 34638

How Do Coworking Spaces Work? Everything You Need to Know

How Do Coworking Spaces Work? Everything You Need to Know

How exactly do coworking spaces work? What do you need to know?

Ever since the first coworking space opened to the public in San Francisco in 2005, the industry has been steadily growing. However, more than fifteen years later, companies still grapple with the prevailing myths regarding the setup. Some people are still reluctant to try the shared workspaces precisely because of these misconceptions. So, how do coworking spaces work?

How Do Coworking Spaces Work?

Coworking refers to a setup where people congregate in a neutral space as they pursue their respective projects. Besides the building, they also share the amenities, such as the Wi-Fi, hot desks, furniture, a lounge area, and probably a coffee station or a cafeteria.

The coworking space is different from a traditional office environment where team members work toward a common goal.

People think going to coworking spaces means that you only have to share a room and amenities with others. But it’s very much a lifestyle. Those who have tried the concept loved the sense of community and the friendly competition it develops. They find themselves with other freelancers, remote workers, employees, students, owners of small businesses, and startup innovators with no hidden agenda except to cheer for their success.

How Do Coworking Spaces Work?

The Business Model

While the pandemic slowed down the coworking spaces industry, the sector still projects to hit $13.3 billion by 2025, with a compound annual growth rate of 12%.

Coworking spaces operate on several business models.

Workplace Memberships

Think of the concept as similar to a gym membership. You can pay monthly or annually, depending on the packages offered by the hybrid workspace. Under this arrangement, you can also choose which type of membership is right for you.

  • Team Offices – The package is perfect for a large group of up to 32 people. The remote workers have total privacy since they have access to the meeting rooms. The office is move-in ready as they have 24/7 access to fast Wi-Fi, furniture, and other amenities.
  • Private Offices – The private office can hold as many as three people. The concept is similar to the team office, except on a smaller scale. They also have access to the conference room if they want to present a project to their superiors.
  • Dedicated Desks — You can rent your dedicated desk that nobody else can use. While you may share the office space with virtual strangers, you have your separate locker to store your documents and other essential belongings.

Day Passes

So, how do coworking spaces work if you do not want a long-term arrangement? The good news is that anyone can pay for a dedicated desk, team office, or a private office for a day.

Those who tried coworking spaces realized that they are more productive in the shared workspaces than working from home. In addition, they also found networking opportunities by mingling with people from all walks of life.

However, please remember that you will likely save money in the long run if you apply for a workspace membership because the packages are typically cheaper.

Wellness Memberships

Some coworking spaces also offer wellness memberships designed for individuals pursuing an active lifestyle. You can gain access to their gym facilities or a studio. They also have a yoga or a fitness instructor who can help you attain your personal goals.

Myths Surrounding Coworking Spaces

As already mentioned, some people still hold on to wrong notions about the hybrid workplace.

Myth 1: The coworking space is chaotic

It’s not realistic to expect zero noise from a workplace environment. Even working in a traditional office or working from home, you still deal with some distractions. However, you have some options if you want some privacy. For instance, you can rent a private office where you share the area with only two other people.

Myth 2: It’s too expensive

Coworking spaces offer multiple packages from daily, weekly, to monthly. Students, for instance, can rent the space and boost their productivity tenfold. You also have to weigh the outcome with the cost. For example, it would be useless if you worked from home and did not get any work done.

Myth 3: They are unsafe

You are sharing the coworking space with other workers, so that you might be wary about the sensitivity of your work. However, you can rent a designated desk that nobody else can use. You also have your dedicated locker to store your notes and improve privacy.

Myth 4: Only startups use coworking spaces

The coworking space community includes freelancers, university students, remote workers, post-graduate students, and academics. You will run into a diverse group of people, offering plenty of networking opportunities.

It’s understandable for some individuals to be reluctant about trying the concept. However, they immediately scrapped most of the myths surrounding coworking spaces once they’ve tasted the lifestyle.

Contact 4&Co. for More Information About Our Coworking Space Memberships

If the question “how do coworking spaces work?” still lingers in your mind, contact us today at (727) 725-2745. Our 4&Co. coworking memberships are designed to meet your needs and improve your professional life. Book a tour of our Pasco and Clearwater campuses here!

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