What is a Coworking Space? | Guide to Coworking

The traditional 9-to-5 grind in a designated cubicle quickly becomes a relic of the past. Today's workforce thrives on flexibility, collaboration, and a dynamic environment. This shift has fueled the rise of coworking spaces, a workplace revolution offering a unique solution for modern professionals.   

In this blog post, we will guide you to understanding what a coworking space is, its types, who it is for, its benefits, and some considerations for looking for one.   

What is a Coworking Space?   
 

A coworking space is a versatile and spacious working area where different groups of people come together to do their work. Many of these spaces allow you to pay for only the hours you’ll stay, a monthly individual membership, or a monthly organization membership.

In a coworking space, you'll discover a dynamic environment equipped with high-speed internet, meeting rooms for privacy and professionalism, pantry for convenience and community-building, concierge and IT support services for streamlined operations, and backup power infrastructure for uninterrupted productivity.   

Coworking spaces have become popular because they encourage collaboration and connection for teams and are conducive environments for those comfortable working alone. In Manila, one of your coworking space options is the COLLAB Loft and Private Labs in Sheraton Manila Hotel.   

Types of Coworking Spaces

Conventional

This is the most common type of coworking space. It features an open layout with shared desks and common areas ideal for those who value interaction and networking. While cost-effective, it may lack privacy compared to other options. However, the energetic atmosphere fosters a casual, innovative spirit.

Full-service

These spaces upgrade the coworking experience with premium amenities and additional perks. Imagine business lounges with top-notch furnishings, access to commercial kitchens, and even complimentary food and beverage. High-end coworking prioritizes luxury and convenience, separating it from more basic flex space options.

Professional

Professional coworking spaces target established businesses seeking a professional ambiance. Expect a quieter, more private environment with features like dimmed lighting. Compared to high-end options, the focus is on affordability and professionalism, making them ideal for companies prioritizing privacy over collaborative energy.

Private

A private coworking space caters to companies seeking a dedicated space within a coworking environment. They rent a lockable suite, potentially on a private floor, complete with the business name, a private kitchen, and conference rooms. While pricier than other coworking space options, private offices offer the same flexibility with the added benefit of privacy. This setup is ideal for teams of 8 or more who value a traditional office feel with modern lease terms (as short as 6 months).   

Lifestyle

This diverse category offers workspaces with unique environments. The working area is integrated into a coffee shop, gym, or residential building. Expect a vibrant, casual atmosphere with high energy and limited privacy. Prices can vary greatly depending on the location and amenities.    

Who Uses Coworking Environments?   
 

Freelancers

• Remote workers
• Startup companies
• Entrepreneurs
• Consultants
• Non-profit organizations

Benefits of Coworking   
Unmatched Flexibility

Working spaces cater to changing needs. With various office and desk layouts, you can easily adjust your workspace based on team size, paying only for what you use. This eliminates the rigidity of long-term office leases.

Community Building

The traditional office fostered a sense of community through face-to-face interaction. Coworking spaces address this need in a remote-first world, where you can build connections, network, and foster a sense of belonging by surrounding yourself with other professionals.

Networking Opportunities

Coworking spaces foster a social atmosphere, allowing you to connect and share ideas with fellow professionals. Strike up casual conversations, offer help, and build genuine connections. Networking organically can lead to valuable partnerships, friendships, and unexpected business opportunities.

Productivity and Creativity Boost

The magic of coworking lies in the exchange of ideas. Interacting with individuals from diverse backgrounds and industries sparks new perspectives and ignites creativity. 

Cost Efficiency

From reception services and internet to printers, desks, and break rooms, members divide the cost of using these amenities among themselves. This translates to high-quality office space at a fraction of the price compared to traditional leases.

What to Look for in a Coworking Space?   
Coworking Culture

As discussed before, there are different types of shared workspaces. Each kind will have its own culture. Ensure you are comfortable with the people, their working styles, and the overall environment. 

Functional Amenities

The WiFi signal should be strong with a backup power supply. They should also provide comfortable chairs and appropriately sized desks for sharing. Assess their utilities' qualities and ensure they meet your work's needs.

Clean and Well-Arranged Space

While the aesthetics of a coworking space are undeniably important, you also need to focus on functionality. Essential considerations include adequate lighting to prevent eye strain, an environment free from distracting noises and odors. 

Accessibility

Evaluate its location for both accessibility and convenience. Consider the ease of commute for your team via public transportation, and if you frequently meet long-distance clients, prioritize proximity to major transportation hubs like airports or train stations.

Clear Pricing Options

Don't get caught off guard by hidden fees. Ask about any additional costs associated with membership plan modifications. A transparent pricing structure fosters trust and ensures a mutually beneficial relationship with your coworking space provider.

Key Takeaways

Coworking spaces represent a transformative shift in how people work, offering a flexible and dynamic environment for professionals of all kinds. 

Beyond just providing a physical workspace, coworking environments foster community and collaboration, providing opportunities for networking, idea exchange, and professional growth. 

When considering a coworking space, it's essential to assess factors such as culture, amenities, cleanliness, accessibility, and pricing to ensure they align with your needs and preferences. This way, you can find a coworking space that catalyzes success and growth in today's dynamic work landscape.