Learn why coworking spaces are popular, offering flexibility, collaboration, and premium amenities for freelancers, small businesses, and large enterprises.

What is a coworking space & why do people love it?

The first coworking spaces began appearing in the early 2000s. They attracted primarily self-employed freelancers and entrepreneurs searching for an alternative to working from cafes, business centres, and home offices. The goal of coworking was to share space, ideas, and amenities between individuals working for different companies or among those who were self-employed.

Over the years, many new spaces have opened in several cities worldwide. The years 2013 to 2018 showed a 30% growth for the industry, including WeWork India's launch in 2017. WeWork India grew from one coworking space in Bangalore to 35 spaces across 8 cities and today, they’re used by everyone from individuals working remotely to entire corporate teams.

What is a coworking space, and how does it work?

Coworking is a working arrangement where people from different companies or self-employed professionals come together to work in a single shared space. Coworking is popular due to its collaborative environment, convenience, and support system, providing an alternative to traditional office setups.

Coworking spaces offer flexibility, affordability, networking opportunities, and premium amenities. With coworking spaces like WeWork, you can access unmatched flexibility, convenience, and significant cost-cutting benefits.

WeWork revolutionises coworking spaces by bringing to you world-class amenities and an enriching work environment. These coworking spaces are community centres, collaboration hubs, and social spaces where workers from different backgrounds can come together to share expertise and explore new ideas.

Who uses coworking spaces?

More and more professionals are opting for coworking spaces over a traditional office environment. While working from home is an alternative, it's not as flexible and maintaining a work-life balance is hard.

WeWork's coworking spaces are the solution to a fixed schedule and all kinds of professionals can use it.

1. Remote workers - Businesses believe that remote working increases productivity and hence are hiring more remote workers. Coworking spaces are ideal for remote working as they get the space they need to finish their professional duties with no distractions. WeWork’s day passes and other flexible packages are excellent options for remote workers for a quiet, distraction-free workspace.
2. Freelancers - The nature of freelancing makes it difficult to structure work, as freelancers often work for multiple companies simultaneously. By providing access to meeting rooms, technology, a professional address, and a social environment conducive to networking, coworking spaces mitigate the lack of stability for freelancers. All of these, along with premium amenities are available at all WeWork.
3. Small businesses - Small businesses have flocked to coworking spaces, enjoying flexibility and all the amenities that a business needs on a day-to-day basis. WeWork’s private offices, hot desks, day passes, and meeting rooms are some fantastic options for businesses with smaller teams.
4. Enterprises - Even large corporations have started to partner with coworking spaces for their needs. With thousands of employees working worldwide, handling space becomes a hassle. In situations like these, coworking comes to the rescue, providing custom private offices, hot desks, and conference rooms on demand.
5. People who are travelling - Travelling professionals can utilise WeWork’s coworking spaces and get access to premium technology mixed with convenience.

Coworking spaces vs. traditional offices

Unlike traditional offices, coworking is an amalgamation of collaborative spaces filled with like-minded individuals. It also has its perks like flexibility and premium amenities. This mix of diverse and enthusiastic individuals is bound to spark creativity and bring in fresh perspectives.

Types of coworking spaces

Many types of coworking facilities exist, and there are many things to consider while choosing a space for yourself. Let’s break down the coworking spaces into broad categories:

• Open workspaces - The first kind of coworking spaces were open. These usually have hot desks that aren't allocated to a specific person, and dedicated desks for people from different companies, and shared common areas. This kind of space is suited for collaborative, cooperative, and high-energy projects.
• Private workspaces - This category is for individuals and companies who want a private space of their own, with the same benefits as an open office. Private can mean a lockable door, a private floor, and conference rooms unique to a company. This setup is better suited to a company in its growth phase as it can adapt well to a growing team.
• Venture/incubators - This is a particular form of coworking space created to support startup companies in exchange for equity. An excellent example is WeWork Labs which connects early businesses worldwide and facilitates growth, streamlined networking, up-skilling, and global connections for founders and their teams.

Your idea of a coworking space should align with your business needs. Availability of amenities, commute, aesthetics, and, above all, your company culture should fit into your chosen workspace.

Advantage of coworking spaces

Here’s why businesses love coworking spaces:

1. Flexibility - These spaces provide flexibility and adaptability to help the company. No long-term leases are needed, and all other requirements and amenities are taken care of by the coworking space.
2. Affordability - These spaces allow business owners to skip the hassle of acquiring or renting a commercial real estate space. Small businesses can find the right-sized space, like a hot desk or a private office, for a lower cost without having to deal with long-term contracts and exorbitant prices. In addition, coworking spaces can also offer larger spaces on demand. These spaces can be used for training purposes, client pitches, meetings, and more, on a short-term basis.
3. Networking opportunities - Since coworking spaces were developed with the primary purpose of networking and collaboration, they can create tremendous professional growth. Access to a community of entrepreneurs increases visibility and provides many opportunities to expand professional contacts, build referrals, know the leaders of your field, expand your customer base, and stay abreast of the latest trends and developments in your field.
4. Services and amenities - The best coworking spaces provide their members with premium facilities and services to aid the growth of their business. With WeWork Business Solutions, you get access to a host of curated services across IT, HR, admin, finance, and marketing to help you scale and manage your business.
5. Increased productivity - Coworking spaces provide a distraction-free environment to work. A well-organised workspace with meeting and game rooms for both work and fun can considerably increase productivity by eliminating sources of interruptions.
6. Boost motivation and creativity - In a room full of creators, the creative energy runs high. More work gets done in a thriving community and a positive work environment where people help each other succeed. Different perspectives of colleagues can give bursts of creativity and refresh your mind to consider alternatives to problems.

Know more about the benefits of a coworking space.

Disadvantages of coworking space

1. Limited scope for customisation - One of the primary disadvantages of coworking spaces is the limited scope for customisation. Traditional office spaces allow companies to design and arrange the workspace according to their specific needs and brand aesthetics. In contrast, coworking spaces are generally pre-designed to cater to a wide range of businesses, leaving little room for personalisation.
2. Less privacy - Shared environments often mean that conversations, meetings, and even sensitive information can be overheard by others. This can be concerning for companies handling confidential data or engaging in proprietary discussions. The open-plan nature of many coworking spaces can also be distracting, making it difficult for employees to concentrate on their tasks. While some coworking spaces offer private meeting rooms and phone booths, these are usually limited in number and may not always be available when needed.
3. No branding - Coworking spaces typically come with their own branding and design, making it challenging for businesses to establish their own identity. Traditional office spaces allow companies to decorate and brand their environments with logos, colour schemes, and other elements that reflect their corporate identity. In a coworking space, however, the ability to brand the workspace is usually minimal or non-existent. This can make it harder for companies to build a strong brand presence and culture, both internally among employees and externally with clients and partners.

Tips on finding the right coworking space

• Location - When choosing a coworking space, the location is a crucial factor. Ideally, the space should be easily accessible for all team members, preferably close to public transportation and key business districts. A prime location not only makes daily commutes easier but also enhances the company's professional image. Additionally, being in a central location can facilitate networking opportunities and make it more convenient to meet clients and partners.
• Amenities - The amenities offered by a coworking space can significantly impact your work experience. Look for spaces like WeWork that provide essential facilities like high-speed internet, ergonomic furniture, and well-equipped meeting rooms. Additional perks such as coffee machines, recreational areas, and wellness rooms can also add value. Ensure that the amenities align with your team's needs and can support your daily operations efficiently.
• Flexibility - Flexibility is another crucial factor to consider. Opt for coworking spaces that offer various membership plans, including hot desks, dedicated desks, and private offices, to accommodate your changing needs. Flexible lease terms can also be beneficial, allowing you to scale up or down without being locked into long-term commitments.
• Budget - Budget is always a key consideration. While coworking spaces can be more cost-effective than traditional offices, prices can vary widely depending on the location and amenities. Determine your budget beforehand and compare different options to find a space that offers the best value for money. Keep an eye out for hidden costs, such as additional fees for meeting room usage or printing services, to avoid any unpleasant surprises.
• Privacy - If your business involves handling sensitive information, privacy should be a top priority. Look for coworking spaces that offer private offices or dedicated areas where confidential work can be conducted without interruptions. Some spaces also provide soundproof meeting rooms and phone booths for added privacy. Assess the overall layout and design to ensure it meets your privacy requirements.

Also read: hot desk vs dedicated desk

How WeWork can help you find the ideal coworking space for your company

WeWork has revolutionised the concept of coworking spaces by offering flexible, high-quality work environments that cater to businesses of all sizes. With locations in major cities across India, including Bengaluru, Mumbai, Gurgaon, Hyderabad, and Pune, WeWork provides a wide range of options to suit various needs and budgets. Each WeWork location is strategically situated in prime business districts, ensuring easy accessibility and a prestigious address for your company.

WeWork spaces come equipped with state-of-the-art amenities, including high-speed internet, ergonomic furniture, and modern meeting rooms. These facilities ensure that your team has everything they need to work efficiently and comfortably. Moreover, WeWork offers flexible membership plans, allowing you to choose from hot desks, dedicated desks, and private offices. This flexibility enables you to scale your workspace as your business grows, without the burden of long-term leases.

Another advantage of choosing WeWork is the vibrant community it fosters. Regular networking events, workshops, and social gatherings provide ample opportunities to connect with like-minded professionals and potential collaborators. WeWork's commitment to privacy and security also ensures that your sensitive information remains protected.

Know more about WeWork coworking spaces in India:

• WeWork coworking spaces in Mumbai
• WeWork coworking spaces in Pune
• WeWork coworking spaces in Delhi
• WeWork coworking spaces in Noida
• WeWork coworking spaces in Gurgaon
• WeWork coworking spaces in Hyderabad
• WeWork coworking spaces in Chennai
• WeWork coworking spaces in Bangalore

Conclusion

Look for a flexible coworking office space near you with WeWork; you can pick and choose from private offices, hot desks and designated desks. Grow your business enterprise or your individual network in a flexible space. With premium facilities and solutions for all office space requirements, experience your work environment like never before with WeWork.

FAQs

What is a coworking space?

A coworking space is a shared workspace where individuals and businesses can rent desks or offices on a flexible basis. These spaces often come with various amenities and foster a collaborative environment.

Why is coworking popular?

Coworking is becoming popular as the new way of working. It offers a productive and collaborative environment with added flexibility, cost optimisation, and convenience. Apart from this, it provides a unique support system and network of like-minded individuals that simply cannot be replicated in a traditional setup.

Can I customise my workspace in a coworking space?

Usually, coworking spaces have pre-designed layouts, offering limited scope for customisation. However, some spaces may allow minor adjustments or branding elements.

Are coworking spaces suitable for large teams?

Yes, many coworking spaces offer private offices and dedicated areas that can accommodate larger teams. Flexible membership plans also allow you to scale up as needed.

What amenities are usually included in a coworking space?

Common amenities include high-speed internet, meeting rooms, ergonomic furniture, kitchen facilities, and recreational areas. Some spaces may also offer wellness rooms, event spaces, and networking opportunities.

Is there any privacy in a coworking space?

While coworking spaces generally have an open plan, many offer private offices, meeting rooms, and phone booths for added privacy. It is advisable to assess the layout and design to meet your privacy needs.

How do I choose the right coworking space?

Consider factors such as location, amenities, flexibility, budget, and privacy to find the right coworking space that best suits your needs and preferences.