The concept of coworking is rapidly growing in popularity, to the point where this working model is no longer solely utilized by remote workers – larger corporations are also making the move from traditional offices to coworking spaces. Doing so offers up a number of benefits, particularly when working as a team.
However, once you’ve decided that coworking is right for you, choosing a coworking space for your team to work from can be a challenge. There are now so many out there, each one providing their own spin on this way of working.
Some coworking spaces, such as WeWork, are owned and operated as a large chain. Others, such as Circle Hub, are localized and independent. How do these two coworking companies compare? Read on as we talk you through the similarities and differences to keep in mind when deciding between Circle Hub and WeWork.
Pricing
For many businesses, one of the biggest advantages that comes from making the move to a coworking space is reduced costs. Leasing a private office space, particularly for a large team, can be pretty pricey. This then eats away at that business’ profits.
However, coworking spaces operate differently. Rather than paying a lump sum each month for the use of an office space, you pay an individual membership fee for each person on your team. There aren’t any long-term contracts involved either. This gives a business flexibility when it comes to growing or reducing its teams.
So, how do WeWork and Circle Hub compare in terms of pricing?
When it comes to the most basic pricing, meaning access to all amenities and shared workspaces, Circle Hub works out to be the most cost-effective option. You’ll find yourself saving around $150 a month per membership, which can really add up if you have a large team.
Of course, when working with a team, you’ll also likely need regular access to conference rooms. These will give you the privacy that you need to hold a meeting or a brainstorming session without disrupting the shared workspaces. WeWork charges on a per-seat basis whereas Circle Hub charges an hourly rate per conference room. If your team consists of four people or less, you’ll save a little by going with WeWork. However, if your team is larger than this, then Circle Hub is once again the more cost-effective option.
These pricing differences are down to how WeWork is a global chain. This means that their operating costs are higher, which then translates to higher fees for members.
Shared Workspaces
While both WeWork and Circle Hub provide private office spaces and meeting rooms where your team can work privately, the beauty of a coworking space lies in the buzz and vibrancy of its shared workspaces. Here, you simply turn up, choose an available desk, and get to work. It’s the ultimate in flexibility, saving you from having to book a space in advance.
So, how do the shared workspaces provided by Circle Hub and WeWork compare?
The biggest difference between the two is in size. The shared workspaces at WeWork tend to be massive due to how WeWork is such a large corporation. In some ways, this is great. Turn up during quiet hours and you’ll be able to pick from a huge choice of desks. The downside is that, on a busy day, you won’t have much privacy. You’ll be sat at a desk in a large room surrounded by so many people, which can become distracting.
At Circle Hub, our shared workspaces are smaller. Don’t get us wrong – there’s plenty of space for everyone and you’ll never struggle to find a desk to work at. However, our shared workspaces are more intimate, making it easier to enjoy a sense of privacy even when you’re surrounded by other people.
Location
Another important factor to keep in mind when choosing a coworking space is location. After all, coworking is all about convenience. You don’t want to end up with a long and stressful commute every day. This makes it crucial to pick a location that’s easy for you and your team to access.
In many regards, this is where WeWork really shines. WeWork operates from 119 cities around the world, with more than 600 locations to choose from. This means that, in most cases, you’ll be able to find a WeWork space somewhere nearby to you.
The exception is if you live in or near Northridge or Ventura in California. There aren’t any WeWork locations in these two cities, but this is where you’ll find Circle Hub located. Both of our locations are easily accessible, whether you plan on driving or taking public transportation. You’ll be able to choose from our various workspaces at each one, and they each also offer fantastic amenities.
Sense of Community
Research shows that when people feel a sense of community in their workplace, they’re less likely to suffer from mental health problems, such as depression, anxiety, and stress. These are extremely common issues in the modern workplace that all have a significant impact on productivity.
This is one of the reasons why many individuals, as well as bigger companies, choose to work from a coworking space. When a coworking space is able to create a sense of community, motivation and productivity soar while workers tend to be much happier and, therefore, healthier.
So, how do Circle Hub and WeWork compare when it comes to the sense of community that each workspace offers?
This is another area where Circle Hub comes out on top. Being a smaller organization means that our sense of community is strong. In contrast, many find that WeWork has more of a batch-processed feel. Due to how large each workspace is, it can be difficult to get to know the other professionals that are using that space. This can end up feeling quite isolating, defeating the purpose of working from a coworking space in the first place.
Networking
Coworking spaces are amazing for networking. You’re surrounded by such a diverse range of people that work in an array of industries, meaning that you could end up making some very useful professional connections.
While some coworking spaces don’t put any extra effort into encouraging their members to network, both Circle Hub and WeWork do. Both coworking companies host networking events that members can attend. However, with Circle Hub only encompassing two locations, our events are very regular. On the other hand, WeWork’s bigger events are more sporadic since they have so many different locations to focus on.
The networking events hosted by Circle Hub are also loved for how casual they are. Boring seminars or stuffy workshops aren’t our thing. Instead, we host informal activities, such as free breakfasts or yoga sessions, where our members can get to know each other in a more relaxed setting.
Amenities
In addition to providing the use of workspaces, most coworking spaces also give their members access to various amenities.
Some keep it basic, offering free refreshments, including coffee, which you’ll find at both Circle Hub and WeWork. However, both companies also go above and beyond in terms of the amenities on offer.
For example, you’ll find a fitness center at Circle Hub’s Ventura location, as well as at WeWork’s Beijing location. Sofas and beanbags are scattered around WeWork’s São Paulo location, as well as at both of Circle Hub’s locations. You’ll also find a kitchen/break room at Circle Hub’s locations, along with several other common areas.
When it comes down to it, the amenities that you’ll be able to enjoy at your coworking space will all depend on that specific location’s facilities, making it difficult to compare Circle Hub and WeWork on this front.
Long-Term Viability
Once you’ve found a coworking space that works well for your team, it can be disruptive to then have to move on if that coworking space were to close down. Unfortunately, many coworking spaces around the world aren’t successful with their long-term game, meaning that they only operate for a while before they end up shutting shop.
So, what does the future hold for Circle Hub and WeWork?
Well, let’s start by looking back. WeWork has been around for longer than Circle Hub. The company launched back in 2010, whereas Circle Hub dates back to 2016.
However, if you’ve been doing your research on WeWork, you may have noticed that the company recently filed for bankruptcy. Although their coworking spaces are still up and running, the future could be challenging for the business. This is worth keeping in mind if you’d like to use the same coworking space for the foreseeable future.
WeWork Vs. Circle Hub: The Conclusion
While it’s easy to compare Circle Hub and WeWork in certain aspects, it’s important to keep in mind that each location will have its own ambiance and vibe. This will be partially influenced by where in the country or the world that coworking space is situated, while the personalities of those who use the space will contribute to this too.
In the end, you either will or won’t gel with a coworking space. Sure, you can compare pricing and amenities and more but, the only way that you’ll really get a feel for a coworking space is by taking a tour. Ideally, take your entire team with you when you do so. Don’t forget that not only do you need to like the coworking space that you’ll ultimately choose, but the rest of your team needs to feel comfortable with it too.
During your tour, you’ll be able to really soak up that space’s vibe. Speak to other members and gain some first-hand knowledge on what that space is really like. The community manager will also be a great source of information. They’ll be able to tell you more about the people who use that space while introducing you to other members.
In the end, once you’ve taken tours of the various coworking spaces you’re considering, you’ll be able to make an informed decision that best suits both you and your team.
Want to find out more about the coworking spaces and services offered by Circle Hub? Click here to contact us today!