A once untapped market, coworking spaces have had exponential growth in Australia in recent years with 26 per cent more locations available for businesses.
With this industry thriving, it can be increasingly confusing for business owners to distinguish which space is right for them.
From inner-city locations to offices in the heart of major Australian CBDs, dog-friendly offices to yoga studios, the offerings are varied and it is certainly an exciting time as many operators roll out new and unique facilities. We’ve put together a list of important considerations when selecting the right place for your business.
Determine your Needs
It is important to scope out your business requirements when researching coworking spaces. Take stock of your priorities, what your business needs to survive and what kind of support it needs to thrive.
Here are some useful questions to ask yourself:
Are you a small to medium business with the potential to scale up soon?
Are you a maker in need of specialised equipment? A podcast or photography studio?
Will your work need reliable access to a printer?
Do you have meetings frequently and require a fully equipped private meeting room?
What Kind of Community Would you Like to Surround Yourself with?
While professionalism is paramount, sharing a space with people whose company you enjoy on a personal level is also key.
In a 2018 survey, over 90 per cent of members at The Commons said they look forward to coming to work because of the office environment, while almost 70 per cent reported their overall well-being has improved as a result of working in a shared office space.
Have a look at a co-working space’s social events and common areas. Do some research about their members to get an idea of the kinds of people you’ll be sharing your days with.
How Do you Like to Work?
Consider how you prefer to work, ask yourself a few questions to be able to find an office situation that will work for you
Do you like to work collaboratively surrounded by lots of people?
Are you more productive in quiet isolation?
How about changes of scenery or travel? A recent survey revealed that 80 per cent of people say they are more productive when they’re able to change scenery. Consider a coworking space with reciprocal benefits at other locations where you travel.
What hours do you find yourself most productive? For some, an ideal coworking space might need to have 24-hour access.
Surrounding Area Perks
Think about the perks that would just improve your work/life integration, formerly known as work/life balance. We’ve mentioned determining what you need but what about what you want?
Perhaps you want to make sure that your workplace is near public transportation?
Do you need to be surrounded by some nature? Parks?
Are coffee and good brunch restaurants a priority?
How about a gym?
Create a wishlist for yourself and explore the surrounding areas of your prospective coworking space.