Co-working space Vs Traditional office – what would you choose?
Looking for a space to set your office up? We have listed 5 differences between co-works and traditional office space. Take a look!
Making the right choice about where to set up your workspace is very tough with so many factors to consider. Whether you are looking to set up an office for your new business or looking to expand your current workspace, you may want to weigh your options strategically to choose a long term sustainable office space. While traditional offices have their charm, co-working spaces have become a global trend. We have listed the 5 most significant differences between the two. Give it a read!
One of the biggest benefits of working in a co-working environment is that it is extremely flexible as compared to a traditional office.
Lease: A co-working space does not require any lease commitment, unlike a traditional office space. If we take a traditional office space we are bound to sign a long term lease agreement.
You can take up space in co-working on hourly, daily, weekly and monthly basis as per your need which makes it remarkably flexible as compared to a traditional office.
UTILITIES AND EXPENSES
When setting up a traditional office, one has to think about various utility cost like furniture, wifi, electricity, cleaning, pantry etc. Whereas, a co-working space has no miscellaneous expenses. Costs like furniture, wifi, water, tea/coffee, stationeries are all included in your space fee. Thus, co-working spaces have an upper hand when it comes to long-term commitments and overhead expenses. Working from a traditional office requires to keep a check on the overall management including its cost whereas in a co-working space the management is inbuilt and you don’t need to worry about it.
Most of the traditional office, designs offer traditional office furniture, classic designs of doors, cabins. The walls are mostly less colourful keeping in mind the work environment and are usually compact and small. While there is also an advantage of making your office as fancy as you can according to your choice, unlike a co-working space where everything is pre-designed by the authorities. But co-working spaces have changed the work culture to a great extent. Their interiors are full of swanky wall arts, fancy chairs, bean bags, calling booths, colourful furniture. They look gorgeous and it certainly increases productivity because of a good ambience.
Co-working means shared spaces which certainly allow you to communicate and network with different people from different industries. Whereas traditional office makes networking limited as you only get to communicate with people from your industry or those who are working together in the same office.
Personal Branding and privacy
Traditional office lets you do the branding for their company through hoardings outside their office space and provides the comfort of having your own office space with privacy. Co-working spaces are occupied with varied clientele which doesn’t give any privacy while working. The opportunity to promote your brand individually gets ruled out in a co-working space.
Still, confused? Pause, take a break and think through the above differences between co-works and traditional office. Crack a revolutionary new business plan, take the above pros and cons into consideration along with your budget and bandwidth and make your choice.