Co-Working Spaces: Which One’s Right For You?
Thinking about moving to a coworking space? Here's 5 questions you’ll want to ask yourself as you do research and tour spaces.
Finding a coworking space
Whether you’re looking to move from one coworking space to another or you’re in the market to stop working from home, it’s important to make the right considerations. In large cities like Sydney and Melbourne, you’ll find a wealth of different coworking spaces, all with a different target market and different features on offer.
In this article, we’ll go through the five questions you’ll want to ask yourself as you do research and when touring spaces. Even if you’re not locked into a contract, moving location regularly might not be ideal for running a business. Finding a space that you can see your business growing in for a long time is crucial.
What’s your budget for your coworking space?
It might not be the most exciting consideration to make but it should definitely be a significant one. Your budget will impact all the following considerations. Some coworking spaces are advertised as luxury or premium whereas others are more focused on the essentials over the bells and whistles.
What location do you want to be in?
The next question to ask yourself is where you want to be located. Think about whether you need to be in a certain district to be easily accessible to key stakeholders. Do you need to be in the centre of the city or are you okay with a space a few kilometres away? Is public transport or accessible parking more important?
You’ll find that spaces in busier areas are more expensive and more accessible by public transport. On the flip side, spaces a little further out are more affordable and more accessible by car. The Alexandria-based coworking space, Workit Spaces, is about 4km from the CBD, accessible by car and public transport, and ideal for those wanting larger spaces.
How much space do you need?
Following on from the last tips, the size of your space is closely related to price and location. Most coworking spaces offer hot desks, dedicated desks, and a range of sizes of offices. You’ll also find coworking spaces that offer showrooms, storage and warehousing for goods-based businesses.
Generally speaking, the closer you are to busy areas and the more premium the coworking space, the more expensive spaces will be. For the price of a luxury dedicated desk in the CBD, you could get a large warehouse space or office just a few kilometres out. Weigh out the pros and cons to see what you need.
What amenities/facilities do you need?
Just like if you were looking to buy a home, you want to have a list of priorities. Figure out which amenities and facilities mean the most for you. Don’t forget to discuss whether the amenities are included in the regular fee or if you have to pay extra to use them. Here’s a list of a few popular examples:
- Meeting and conference rooms
- Printers and scanners
- Kitchens and bathrooms
- Reception and maintenance
- Photography studios and equipment
- High security cameras, keys, locks etc.
- High speed WiFi
- Mail handling services
- Loading docks and shipping stations
- Showrooms and storage facilities
- Daily cleaning and sanitation
- Onsite parking
What type of community do you want to be in?
Last but definitely not least, you need to consider community and culture. Do you want to be in a space where everyone knows each other or would you prefer a more professional setting where everyone comes just to do work? You’ll find that some coworking spaces offer networking opportunities such as events and workout classes whereas others don’t.
A great way to learn about the culture behind a coworking space is by checking out their social media platforms. Instagram is usually a great starting point to determine which spaces have a more corporate community and which spaces might have a more creative, fun, or pet-friendly community. Don’t forget to read reviews as well!
Laura Tien is the Digital Content and Partnerships Associate at Workit Spaces, a Sydney-based and community-focused coworking space for small and eCommerce businesses looking for storage and shipping solutions.