Is a co-working space a good investment?
When walking into a co-working space, the first thing you will notice is that the atmosphere feels completely different from a regular office. You will feel a sense of excitement and collaboration in the air with a mixture of occupants who are deep in focus at their very own private desks, as well as other occupants who are engaged in conversation at the larger shared tables.
In essence, co-working spaces are shared workspaces. They are more affordable alternatives for those who want to escape their isolated home offices and noisy coffee shops. People who make use of co-working spaces are usually freelancers, entrepreneurs, start-up companies and small teams who want to take advantage of flexible space and hours. Co-working spaces offer these occupants office-like amenities, such as hot-desks, boardrooms and kitchens.
When it comes to co-working spaces, the allure lies in the affordability. You can rent out what you need, instead of renting an entire office, which can be very expensive. Co-working spaces can work on membership-based models, and usually, occupants can decide between paying a daily fee or a monthly fee. It's important to note that these membership fees can vary depending on whether you work at a shared desk or want a single desk to yourself.
Benefits of co-working spaces:
- Professional environment
Co-working spaces allow entrepreneurs and freelancers the opportunity to work in a professional environment with flexible terms without having to empty their pockets.
Co-working spaces are open to anyone and attract freelancers and entrepreneurs from all walks of life. This means that you are in close proximity to a wide range of professionals which provides you with the perfect opportunity to build connections and network with other professionals, both inside and outside your field.
We have seen a massive rise in the popularity of co-working spaces. This is mainly due to the increasing numbers of contractors and start-up companies who seek office space that is affordable. Co-working spaces are innovative, and it changes the way that people work. In the future, we will likely see even more people ditching coffee shops and home offices to work in co-working spaces. The need for co-working spaces will always be there, therefore, this could be a very profitable investment.
This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your specialist adviser for specific and detailed advice. Errors and omissions excepted. (E&OE)