Coworking Spaces: Real Help Or Extra Cost?

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Despite its popularity, some people today are still hesitant when it comes to using a coworking space. They argue that there are better, far more practical alternatives. For example, some even claim that working from home or from a local coffee shop allows them to save money while achieving the same level of productivity. But is this always the case?

Is coworking really worth it? Or is it better to explore other options? 

In this blog, we’ll look at how coworking can be potentially beneficial both for independent professionals and businesses of all sizes. Moreover, we’ll take a quick glimpse at some notable statistics regarding the coworking industry here in the country and abroad.

What A Coworking Space Is

To begin with, coworking spaces are rentable shared offices that make facilities available to individuals and groups. Regular customers may range from CEOs and startup teams, to freelancers and digital nomads, to students and social media influencers, and more. 

Coworking provides customers with the balance of having a work-focused environment with networking and collaboration opportunities by being part of a community. These open space establishments only charge their clients on a per-day, per-week, or per-month basis, depending on their personal preference. 

As a US Chamber of Commerce article shares, flexibility is one of coworking’s best benefits.

“A coworking space typically has a variety of different office and desk layouts workers can reserve based on their individual work requirements. Since office spaces are typically shared by numerous individuals and teams, a business can simply adjust its coworking plan to accommodate a shrinking or expanding number of teammates, therefore only paying for what they need.” 

In addition to coworking facilities, the best providers also offer private offices, conference rooms, and event venues for rent.

Over the years, coworking has become a favorite workspace option for many professionals.

Case in point…

United States Coworking Statistics

Research by Zippia tells us that there are: 

  • More than 6,200 coworking spaces in the U.S. as of 2022 
  • Approximately 933,000 people in the U.S. who use coworking spaces 

The website further points out that in 2017, the country only had around 4,000 coworking spaces. This means a significant growth of about 55% within the past 5 years. 

Meanwhile, Coworking Cafe reports that “New York, Los Angeles and Washington DC have the most coworking spaces of all US metros.”

Zippia further indicates that New York City has 594 coworking spaces, most of which are located in Manhattan (333) and Brooklyn (100). Next on the list, Los Angeles, has 588 coworking spaces while Washington DC has 295.

“In North America, the average size of a coworking space is about 9,799 square feet, with an average of about 100.14 people using that space,” they also mention. “That works out to just under 100 square feet per person.”

Coworking In Europe

Europe is also a great destination for coworking because it continues to skyrocket in popularity. In fact, London is known as the city with the largest number of coworking spaces in the world.  

According to a Euro News feature, the UK capital has “a total of 1,322 coworking spaces.”

The news source also continues: 

“Other European capital cities like Amsterdam and Paris respectively ranked 12th and 14th for coworking, with the French capital counting only 246 coworking spaces for a population of 2.1 million people.

“Madrid, Copenhagen and Amsterdam have even fewer coworking spaces, with the Spanish capital counting 190 spaces, the Danish capital 47 and the Dutch capital 119.”

So whether you’re traveling to Europe for business or pleasure, know that there are locations ready to accommodate your coworking needs. They understand your lifestyle. And the most popular ones have the right facilities to help you stay productive while you’re on the go. 

So Yes, Coworking Is A Good Idea

Other notable statistics about the benefits of coworking:

  • 83% of coworking space users feel “less isolated and lonely” (Harvard Business Review) 
  • Coworking space costs allow companies to save as much as 30% on their operational costs (Economic Times)
  • 84% of users say coworking membership increases their motivation to work (Global Coworking Unconference)

Using a collaborative office space can bring numerous advantages.

What makes coworking an ideal option for freelancers, entrepreneurs, and other professionals is that it provides everything needed to achieve maximum productivity. Aside from the actual space, customers get access to secure and lightning-fast WiFi, charging stations, printers, scanners, and more. 

Typical distractions of working home-based are all eliminated. You wouldn’t have to worry about barking dogs, noisy neighbors, and others. Also, office politics are non-existent. Instead, you are surrounded by equally motivated individuals building their brands and chasing their own goals.

Plus, as mentioned earlier, coworking can help individuals and companies save money. Shared space costs are much cheaper than renting a traditional office. It also comes with greater flexibility since there are no 2-5 year leasing contract periods. Members may even make use of the space anytime since they are usually open 24 hours a day, 7 days a week. 

Final Thoughts: Coworking Can Be A Big Help For You And Your Business

Let’s face it. Working from home, from a coffee shop, or from a traditional office isn’t for everyone.

In such cases, coworking can present a viable alternative. So don’t hesitate to get in touch with local providers in your area to learn more about what they have to offer.

If you’re in New York City, allow us to invite you to The Farm SoHo.

Founded in 2013, our popular business was one of the first coworking spaces in the city. We remain among the top providers in NYC as we continue to deliver a truly high quality service to our customers. And we make sure that our place is run by friendly in-house team members.

As one happy client raved on his review on Google, we have “super kind and accommodating staff.” 

He goes on describing our place as:

“Great spacious area for heads down work and phone booths for Zoom/client calls, as needed. Pretty ideal co-working space.” 

For inquiries, send us an email via [email protected] or give us a call at (917) 722-5027. You may also book a tour of our SoHo and Nomad locations via our website — we can’t wait to welcome you! 

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