Small team of coworkers sitting at a table in an open coworking space.
From location and privacy to amenities and internet speed, there are several factors to take into consideration when searching for a coworking space for your business. — Getty Images/The Good Brigade

When choosing a coworking space for your company, the most important thing to consider is your own business. Are you a small company that could benefit from the networking afforded to you in a coworking space? Do you want to maximize productivity and minimize distractions?

Here’s what to consider when choosing the right coworking space for your business.

Location

One of the first things to consider when finding a coworking space is the location — no surprise there. Do you want a location central to your team members? If you meet regularly with clients, you may prefer to choose a coworking space near their offices. Even though you may see this as just a coworking space, it will be an unavoidable part of your business presentation to your clients. Make sure you like the area or you may have wasted money and resources on a space you never utilize.

Amenities

A coworking space most likely has more to offer than an empty room with four walls. It’s important to take into account the maintenance, Wi-Fi, printer, security, lockers, heating and cooling, power backup, and cafeteria that may or may not be included in your package. All of those amenities will also factor into the price; you may want the most bang for your buck or you could prefer to prioritize the offerings most important to you.

Office environment and atmosphere

It’s no secret that an office’s atmosphere will have an effect on the people working in it. Do you want a space that feels more comfortable or do you prefer a professional feel? Is the space particularly noisy? Even if something seems small, it can become a nuisance if you’re experiencing it all day.

[Read more: How to Create Positive Hybrid Work Culture]

Flexibility

Workers everywhere are openly prioritizing flexible working locations and hours, and more workplaces are offering hybrid work options than ever before. When considering a coworking space, familiarize yourself with the location’s hours as well as where you can work within the space.

Workers everywhere are openly prioritizing flexible working locations and hours, and more workplaces are offering hybrid work options than ever before.

Privacy

Socialization and networking are important in every workplace, but they can sometimes get in the way of actual work. If you want to minimize socialization, you may prefer a coworking space with separate offices for each business. If networking is important to you, you might want a space geared towards building community.

Internet speed

Internet is a must-have for every office — it may even be the reason you can’t successfully work from home. Slow internet can make even simple tasks tedious ordeals and cause you to look unprofessional in video meetings. When choosing a coworking space, make sure to ask about, or even test, the speed of the internet.

[Read more: 6 Services Your Local Business Can Offer Work-From-Home Employees]

Security

Although you know and trust your own team members, coworking spaces introduce other companies and individuals as well as the coworking management team. Some coworking spaces offer locked-door offices for small teams to give you peace of mind. You may also want to consider things like security guards or card access into the building itself.

Budget

The budget for your coworking space will need to include the cost of membership, any additional costs, the price of the equipment you’ll bring with you, and the costs of commuting. Coworking spaces will incorporate the costs of maintenance, IT support, power backup, air conditioning, and furnishings, which can save you a lot of money and time, especially if your business is just starting out. See if the coworking space you’re considering offers a trial period.

Ease of commuting

Just as important as the location for your coworking space is the ease of commuting there. How long will your and your team members' commutes be? City locations may be pricier, but will likely have the benefits of connectivity and easy commuting.

Extra costs

After you’ve carefully crafted your budget, you should verify any additional costs with the coworking management team. Some places may charge extra for the very amenities that drew you to them in the first place: kitchens, meeting rooms, and lockers, for example. Extra costs can quickly turn your dream coworking space into a nightmare for your budget.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

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Published September 23, 2022