A perfect workplace is a myth. Every place has its advantages and disadvantages. While some may give you a quite environment while others may give you benefits of networking. The two most popular kinds of workplaces are co-working spaces and conventional offices.
Co-working is a style of work which involves a shared working place, a group of people who are working independently.
Conventional working includes working privately and the whole space is yours to utilize as you wish.
Over the past few years, the demand for working in a coworking place has increased a lot. Not only Co-working spaces are key to freelancers success but also startups, small businessman, even the big organizations and large sized companies prefer co-working spaces. It inspires innovations. In a co-working space, like-minded people work together under a common roof.
Co-working spaces are best for the people who are looking for a flexible work environment. It is great for the people who prefer to work without having to manage their work-space. The co-working office space is a space for everyone with a basic interior but with high-speed internet, optimizing office furnishings, conference rooms, meeting halls, pantry and all other facilities.
India has seen a boom in co-working spaces. Co-working spaces give opportunities for the spontaneous collaborations. You don’t have to be alone and being around with people increases quality of work. Knowledge and experiences can be shared easily.
ADVANTAGES OF CO-WORKING SPACE
● COST SAVING
The co-working spaces are best for the companies which are looking for the cost management. It cut costs to a very large extent. Coworking spaces give financial stability to you so that you can do further enhancement in your company. It is believed that co-working spaces save up to 25% in big cities as compared to conventional space leasing. Expenses like furniture, renovations, electricity, high-speed internet and other utilities will be included in your rent.
One of the best advantages of co-working spaces is that there is no need to run around for repairs and maintenance. The entire facility is maintained by the co-working space.
● WIDE RANGE OF TALENT
Co-working gives access to a wide range of talented individuals and most often who work in different industries, who can bounce ideas off these individuals and even work together.
DISADVANTAGES OF COWORKING SPACE
● STAYING FOCUSED
You will find yourself surrounded by so many entrepreneurs. There is the distraction with so many people moving or working together. You may find it difficult to be productive.
● CONSTANT CHANGE
The co-workers keep on changing. The co-working space is frequently forced to shift their locations due to low-profit margins, this means you have to switch from one place to another. They even have higher chances of staff replacement.
CONVENTIONAL WORKING SPACE
Space is entirely yours. You are the in charge of the company. You are responsible to manage all the facilities by yourself which includes space planning, IT, furniture, internet, procuring cleaning and service charges and making sure they are properly maintained. They are often rented on per price per square foot per annum. Payment of rates is your responsibility.
The leasing of the office is directly from the landlord. The tenant has to pay extra expenses such as service expenses, infrastructure, repairs, and maintenance. In the conventional spaces, you need to furnish your office entirely with your own expenses.
In the traditional offices, you personally invest in all the resources
ADVANTAGES OF CONVENTIONAL WORKING SPACE
An internal sense of identity and security can only be present in the conventional space. There is a detachment from laziness and lack of responsibility.
You have the control and rights on everything based on your demands and needs of your company. You can arrange your space based on your needs.
DISADVANTAGES OF CONVENTIONAL SPACE
You are responsible for all the office charges, rates and utilities, repairs and insuring terms.
The biggest disadvantage of conventional spacing is that is very expensive. They need a lot of money. Expenses like furniture, renovations, electricity, internet and other utilities are not included in your rent.
Now as you know the differences between coworking and conventional space. Know which option you should go for. Co-Working Office or Conventional Office- Which is Better For Me?