Coworking spaces are comprised of shared and dedicated desk spaces, private individual and team offices and community areas where business professionals from many different industries work in the same facility. Most coworking spaces are designed as turnkey workspaces with very fast Internet and business class services in an atmosphere that promotes the community of members with networking events and an environment that supports collaboration and building business relationships. Originally started as a way to accommodate entrepreneurs, startups, freelancers, and small businesses who needed office space but aren’t interested in investing the time and resources it takes to open their own offices, coworking now attracts established brands and larger businesses. Venture X, unlike most coworking concepts, attracts business professionals with existing businesses in need of collaborative workspaces. Venture X’s coworking spaces feature the look of leading office design firm, Gensler, with Herman Miller furnishings and concierge level member services. Venture X supports business growth and professional development in our well-appointed spaces with a unique set of amenities and member benefits.
Coworking spaces started in 2005 as a response to the rising cost of office spaces meeting the need for remote workers, tech startups, freelancers, and other small businesses to share desk spaces and office spaces in a community setting. Since 2005, the popularity of coworking has literally changed the nature of the way people like to work. The potential for networking and collaboration built into the community atmosphere of coworking spaces helps to inspire members towards their professional goals. Studies have shown that working alongside other like-minded business professionals actually increases productivity, as well as contributing to a healthy work-life balance. With flexible monthly rates, members can move right in and get down to business without the expense to lease and outfit their own office spaces.
In coworking settings, membership plans allow individuals and businesses to choose desk spaces in community areas, with the flexibility of changing up your plan as your business develops. Businesses can share dedicated desk spaces and rent private offices or work with a combination of different spaces as the business grows. Along with desk space, members enjoy the many amenities, such as free coffee and water, concierge-level hospitality services, along with other dining options and reception areas where members can take a break or meet with clients. Educational community events provide opportunities to network with the other members of your coworking community and could result in ideas for new collaborations.
The inspiration you get when you go to work each day is a good indication that you’ve chosen a good coworking company. Other important things to consider include:
Coworking spaces function on a monthly membership basis. Businesses and individuals choose the type of membership that fits their business needs. For some professionals, such as tech startups and freelancers who don’t need a place to work every day, a plan that gives these members access to their coworking facility several times a week or month might be just the right plan. For others, who need a daily spot for work, away from their homes, a flexible monthly plan fits perfectly. For other teams that may need to work together in the same place each day for several months at a time, a dedicated space offers a semi-private work environment. For businesses that wish to rent an entire office they can lock, private offices are available. In some coworking spaces, larger companies can relocate their offices to an entire floor of a coworking space for the community benefits. These benefits range from attending the events hosted at your coworking company, cleaning and maintenance services, access to a network of members, as well as access to dining and community areas.
The term “shared office space” is almost interchangeable with coworking spaces. In fact, a lot of shared office spaces also offer dedicated desk and shared desk options, along with virtual office plans. The difference is that some shared office spaces are just that - A building with redundant spaces that can be rented out as private offices or work stations. Some shared office spaces are based on a membership plan and some rent by the hour. Member services depend largely on the company who rents out shared office spaces.
Coworking spaces work because business professionals, as well as most folks, work better in the company of other like-minded professionals than they do in isolation. In theory, coworking spaces developed out of the need for remote workers, tech startups, and other work-from-home professionals to separate their home lives from their work lives. In addition to relieving symptoms of isolation and improving work-life balance, business professionals who joined coworking spaces found that the energy and camaraderie of coworking spaces motivated them towards success more than working alone. A healthy competitive nature motivates some people to perform at a higher level when working alongside other business owners who are working towards the same goals. For many coworking members, feeling like part of a community adds value to their lives by improving their outlook on life. Many coworking business owners say they have increased the size of their networks exponentially due to the nature of coworking spaces. Some people feel more in control of their businesses in coworking spaces, rather than like a small cog in a big wheel in a traditional office space. Coworking space members stay engaged with growing their businesses more than employees in a traditional office space who sometimes feel detached from their part in a big picture.
Part of the popularity of coworking spaces lies in a reaction to traditional office spaces by young people entering the workforce in the mid-nineties. As the number of tech startups, entrepreneurs, and small business owners increased, the need for affordable office spaces turned into the phenomenon we now know as coworking spaces. Coworking members are drawn to the creative, collaborative atmosphere, inherent in shared workspaces. Members gain exposure and form relationships in the community beyond the coworking space, finding it easier to establish their brands in the community, through these connections. Traditional office workers can become disenchanted with their work as it becomes too routine. Because coworking has been shown to increase productivity and spark the creative process, many corporations and large businesses are experimenting with changing up the day to day for better employee performance.
When working remotely became an option for some businesses, the idea of working at home seemed like the greatest idea ever because you could work at home - in your pajamas. Both contract workers and businesses liked the idea of saving money on setting up offices for in-house team members and team members liked saving money on business attire, lunches, and transportation. It worked until small business owners, freelancers, and tech startups realized that the distractions of a home-based office could keep you from growing your business. This, in combination with the lack of interacting with other business people and feeling out of the professional community loop, led a lot of small business owners to establish a space away from their homes to work. Due to the expenses involved in leasing and outfitting office spaces in a good neighborhood, someone came up with the idea of sharing spaces and coworking provided affordable office spaces, working in a community of business professionals with the same goals of growing their success.
Coworking spaces vary in price depending on location and plans. Private offices rent for more than dedicated desks, shared desks, and community plans. A virtual office plan that offers a professional mailing address and mailing services, plus access to community areas is usually the least expensive plan. However, when you add up the costs of traditional office space leasing, on top of the extended lease periods necessary to lease office space in a good neighborhood, the savings are quite significant. Compared to the cost of designing, outfitting and running an office, on top of the cost of technology, office machines, maintaining an office, plus the amenities and supplies you need to function from day to day, the affordable, flexible monthly rates for a turnkey coworking space make you realize that cost savings are one of the reasons coworking is such a popular way to grow your business. Memberships at Venture X coworking spaces vary by location and are competitive with other coworking spaces. Contact Venture X to learn more and to schedule a tour of your local Venture X coworking space.
Indeed, they do. At a higher price than community desk spaces and dedicated desk options, coworking spaces have membership plans that can accommodate private offices. Some businesses move into private offices in coworking spaces and stay there. As your business grows and your needs change, some coworking spaces can accommodate your business with entire floors of buildings. At Venture X, we can accommodate companies that need entire buildings. Or, as part of our Enterprise plan, we work with you to design your facility, complete with all of the services and amenities available at our other locations.