Coworking spaces are now more popular than ever. In fact, there are over 19,000 of them dotted around the world, with projections showing that this figure could double by the end of 2024.
Why are so many professionals being drawn to coworking spaces? It all comes down to the many benefits that they experience once they start working at one. Read on as Circle Hub takes you through them.
Using a Coworking Space is Cheaper Than Leasing a Private Office
Whether you’re a freelancer or you’re running a business, chances are that you’re trying to save on costs wherever possible. Nobody wants to spend unnecessarily, which is partly why coworking spaces are so appealing.
For many, the alternative to a coworking space would be to lease a private office. However, this can get pretty pricey. Not only do you have your monthly rental costs to consider but let’s not forget about overheads either. Everything from electricity to WiFi to cleaning services will all need to be covered by you if you were to lease a private office. This will have your monthly costs soaring.
When working at a coworking space, you don’t need to worry about any of that. Instead, members pay a very reasonable monthly fee. This one-off payment not only enables them to work at the space whenever they need to, but also covers all of those pesky overheads. Even if you have a small team to accommodate, the monthly fee for each member would still leave you saving a pretty penny compared to if you were to go it on your own.
Coworking Doesn’t Require a Long-Term Commitment
Another downside to leasing a private office space is the long-term commitment involved. Most will require you to sign a contract that holds you there for at least a year or two.
For many, this simply isn’t realistic. Say you want to expand your business or take it to a new location. Your private office space may not be right for you after a couple of months. However, you’ll still have to pay the monthly rental charges. The same applies if your business, unfortunately, doesn’t do well. Even if you’re forced to close up shop for a while in order for you to reassess your strategy, you’ll still have your office space to pay for.
Go with a coworking space instead and you won’t have to worry about long-term commitments or contracts. At Circle Hub, you can sign up whenever you want and, if you don’t want to use the coworking space for a month or two, you can simply opt out and return to us when you’re ready.
Working at a Coworking Space Can Boost Productivity
Everyone wants to be as productive as possible. This is what will help to propel your business to success.
However, productivity can fluctuate quite a bit based on various factors. The space in which you work has a big influence over this. Some are much more conducive to boosting productivity than others, with coworking spaces in particular being a big boon to how productive a person can be. In fact, research shows that the majority of people who use a coworking space have noticed that their productivity has increased since they signed up.
They do this in a few ways. To start with, they create an environment that’s comfortable and motivating for their members. They also cultivate an inspiring ambiance. When you’re surrounded by people being their most productive selves, this will end up rubbing off on you. It’ll give you the push that you need to take your productivity to the next level.
All of the extra amenities that you have access to at a coworking space will help with productivity too, which brings us to the next benefit on our list…
A Coworking Space Will Provide Access to Extra Amenities
When you sign up to a coworking space, certain amenities, such as high-speed WiFi, are expected. After all, in this day and age, it’s difficult to work without it!
However, some coworking spaces, such as Circle Hub, offer a lot more than this…
In addition to our high-speed WiFi, you’ll also be able to enjoy our on-site printing facilities, as well as access to our kitchen area. Not only can you store and whip up your own snacks here but you’ll also be able to make the most of our complimentary refreshments. You’ll no longer have to trek out of the building to buy yourself a coffee when you need a pick-me-up. We’ll provide that for you free of charge!
We also have comfortable common areas that you can relax in when you need a break, along with a gaming room that’s perfect for letting off some steam!
Coworking is Great for Networking
Most professionals would agree that networking is vital for a business to succeed. In fact, statistics show that networking is responsible for filling 85% of jobs, showing just how important it really is.
Unfortunately, for many, networking is often easier said than done. Whether you’re spending all of your time cooped up in a small private office or you’re still working from home, networking isn’t easy to do unless you have a little help.
That’s where coworking spaces really shine. They’re filled with such diverse groups of people from so many different industries. Each person that works at a coworking space will have their own unique skill set. This could be hugely advantageous to your business at some point. Whether you’re looking to hire a professional to help you with a certain project or you’re searching for a new permanent team member, you’re much more likely to find the perfect person for the job when you have access to such a varied talent pool.
At Circle Hub, we recognize how influential a coworking space can be when it comes to a professional’s networking efforts. This is why, in addition to encouraging our members to interact in our many common areas, we also host events where our members can meet and get to know each other. From free breakfasts and juice bars to yoga sessions, check out our events calendar if you’re looking for casual ways to reach out to other professionals.
Coworking Gives You Flexibility
Nobody enjoys working in a stagnant environment. Staring at the same dull view day in and day out can really take its toll. This is why so many professionals love the flexibility that coworking spaces offer. Being able to pick and choose which desk you work at each day will not only help to motivate you but will also give your productivity an extra boost.
Working at a coworking space also gives you flexibility in terms of when you work. You’ll be able to set your own hours rather than having to adhere to any time restrictions.
Some coworking spaces, including Circle Hub, offer the ultimate in flexibility by providing 24/7 access. Whether you’re a night owl, an early bird, or simply have a Zoom meeting at an odd hour with someone who lives in a different time zone, you’ll be able to make use of our coworking spaces and facilities at any time of the day or night.
Coworking is More Professional Than Working From Home
Many professionals who make the move to a coworking space do so after they’ve been working from home. Just about all of them would agree that making this change has helped to give them a more professional edge.
For starters, you’ll have access to meeting rooms, event spaces, private office suites, and other facilities that would have been impossible to use when working from home. Whether you need to host a private video call or are planning a face-to-face meeting with a new client, doing so from a coworking space rather than a room in your home will be much more advantageous for your reputation.
At Circle Hub, we even offer a virtual office service to our members. Sign up to this and you’ll be able to use our prestigious street address as the mailing address for your business. Not only will this look so much better than your home address on your business cards and website, but we’ll also receive and forward on any mail that is sent to you, saving you some time too.
Coworking Supports a Healthy Work/Life Balance
These days, more and more professionals are struggling to establish a healthy work/life balance. With so much competition to deal with, it can sometimes feel as though you need to spend every waking second working, simply in order to keep up with everyone around you. However, as you probably know, this isn’t doing your mental or physical health any favors. Continue on like this and it likely won’t be long until you burn out.
This is why it’s so important to establish a solid work/life balance. And this is something that a good coworking space can help with. For example, at Circle Hub, we have an onsite gym that our members can use. This makes it so easy to squeeze a workout into your busy day. With research showing that exercise can improve productivity, mood, and overall well-being, taking advantage of our fitness center can do so much for both your professional and personal life.
You Control Your Commute
Finally, let’s talk commutes – something that most people dread! Nobody enjoys being stuck in traffic for an hour each morning or having to take multiple modes of public transport to get home after a long day.
However, this is the beauty of working at a coworking space. You’re not restricted to a specific office in a location that’s difficult to access. Thanks to how coworking spaces are now popping up all over the place, it’ll be easier than ever to find one that’s convenient for you to travel to.
At Circle Hub, we have two coworking spaces for our members to choose from. One is in Ventura and the other is in Northbridge. Both enjoy prime locations that are so easy to reach from surrounding areas, whether you’re driving, taking public transport, or walking/cycling. Pick a coworking space that offers convenient access for you and you’ll never have to be frustrated by a long commute again.
We’ve covered a number of different benefits that you’ll be able to enjoy when working from a coworking space, and that’s just the tip of the iceberg. Making the move to a coworking space has been a game-changer for so many professionals, giving them the push that they need to really succeed.
If you’re curious about whether or not a coworking space would be beneficial for you, click here to book a tour and check out Circle Hub’s dynamic coworking spaces for yourself!