Leasing a traditional office space can be impractical and expensive, especially when you’re trying to scale up your business. In San Francisco, a small office space can cost you a grand or two every month. Depending on the features and amenities available, it could even cost higher. As a start-up, renting expensive offices is risky, but you also want to work in the best place possible.
So what a start-up business really needs is an inexpensive office but a good one that will fit for their business to grow. A coworking space is a cost-effective solution, and here’s why people in San Francisco choose to work in coworking spaces.
1. Coworking Spaces are Always the Affordable Choice
Renting a private office for your start-up business can be very costly. As a start-up, you need to be smart in making decisions, especially in financial aspects.
Registering a membership in a coworking space is cost-effective. It will save a lot on your capital that you can use for other business endeavors and other necessities for your business growth.
These days, there are lots of available coworking spaces in San Francisco that you can choose from that will fit your business or working needs. Most offer lots of features like tools, amenities, support, and useful services without you knowing it.
2. Coworking Spaces are Equipped with All Your Needs and More
Like traditional offices, coworking spaces have all your needs. From office tables, spacious desks, high-speed internet connection, and plenty of power sockets for your laptop and other gadgets. Unlike traditional office set-up, coworking spaces are more flexible. You can choose to rent a shared desk or a dedicated table of your taste. Plus, you also have access to functional equipment like shared printers and other things and furniture.
Unlike traditional offices, where you can only choose the size and location, coworking space will allow you to rent only for a specific number of individuals for a specific time. Coworking space allows rentals on a month-to-month or per daily basis, which is more flexible. Renting your own office is more pricey and mostly requires a long-term agreement.
3. It Exudes Professionalism and Commitment
As a start-up company, you might not want to meet precious clients in your home office or local coffee shops—of course, a lot of distraction can disturb your meeting. It would be best if you host meetings and appointments in a more professional and appropriate place: a place where no kids are shouting, no non-business distractions, and unnecessary noise.
Coworking spaces offer meeting areas or conference rooms you can rent to meet or transact with your future client. Whether in-person appointments or virtual meetings, a coworking space can host a palace for you.
4. More Amenities and Features Like Incubators or Accelerators
Most coworking spaces offer shareable kitchens, coffee and breakout areas, and nap pods to make you more comfortable. Compared to coffee shops or your home office, where it is sometimes hard to separate personal and business matters- a coworking space is a better option.
Another thing is that some coworking spaces offer incubators which can be very useful and might be key to success in your start-up business. A working space with incubator services provides support, advice, mentorship, and all other things that will help your business in the infancy stage to grow.
5. Work in a Diverse Community with Like-minded People
The good thing about coworking spaces is you get to know and work with like-minded people such as entrepreneurs, freelancers, and other skilled individuals. Working in such an environment boosts productivity, and let’s gather new insights from people around.
According to research, people working in a lively environment, especially with like-minded individuals of the same age and the same passion, increase their productivity and tend to be more competent.
6. Build Network and Join a Community
You’ll get the chance to showcase your talent, products, and services as you work in a diverse community full of like-minded people. This can lead to building new relationships that can give mutual benefits.
Building networks in an early stage of your business is crucial. You don’t know what possibilities are there waiting for you, and sometimes you just have to be with the right person in the right place to discover them.
7. Get Advice and Ideas from People Around
In a coworking space, it’s not just freelancers or newbie entrepreneurs like you that are working around. You might find experts and business veterans who could offer you free advice and ideas to help your start-up business. Either way, everyone has something to offer if you just know the right approach.
The point is that you’re not alone, there are people like you thriving inside the space, and you can learn from them. You don’t get business ideas from your neighbors at your home office or the saleslady in the coffee shop.
8. Scout Possible Clients and Talented Individuals
There are a lot of possibilities inside a coworking space. Scouting possible clients can be one of them. It’s not a new story; business entrepreneurs collaborating and supporting each other often happens inside a coworking space. The person next to you at a shared desk can be your future client or business partner.
Hiring talented individuals to grow your start-up business can be possible. Most freelancers now are also working inside a coworking space. As you work with them together, you get to know each other. Then you’ll find out their skills, what they are good at, and if they have the skills that you need.
9. Socialize and Embrace “Work-and-Play” culture
Some established coworking spaces, like in San Francisco, often host events like seminars, wellness activities, games, and even yoga or lunch parties. This is a good experience for start-up businesses to encourage their employees to socialize and relieve stress.
They also allow you to host events to showcase anything or just to celebrate. Whatever it is, having such recreational activities is a good thing and could sometimes open new possibilities. This is the core of most start-up companies—having the autonomy to differentiate themselves from the strict culture of traditional office rentals.
10. Scale up or Leave Anytime at a Coworking Space
Your coworking space can also grow as your business grows because it is flexible. You can opt to rent more space as you need as long as the space is capable. They can support and adjust to your needs and upgrade the space to match your growing business.
Last but not least, if the coworking space seems not to meet the needs of your growing business, you can leave anytime or find a bigger space. Coworking spaces are flexible, and again you can rent on a daily or monthly basis. No long-term commitment is needed.
Is coworking space beneficial for new business?
Yes, coworking space has many benefits for a start-up entrepreneur. It is a cost-effective solution, and you can build networks and connections inside. Coworking spaces also provide support for new businesses with their incubator programs.
Why do people working in coworking spaces more successful?
People in coworking spaces become more successful because of the networks and connections they build inside and the knowledge they gain from a diverse community of professionals and like-minded individuals.
To Sum Up: Coworking Spaces are Perfect for Start-Ups!
Coworking space is a good option because it’s flexible, affordable, equipped with all your needs for a functional office. More than anything, it also provides support and reception service every start-up needs.
Still deciding whether you should opt in a coworking space? With the tons of perks and benefits, why think otherwise? Check out Dynamico Space’s coworking solutions now!
Here at Dynamico Space, flexibility is at the core of our business. No matter your professional needs, we welcome a new and innovative approach for startup companies to grow and scale up their businesses. Indeed, our shared office spaces can be avenues for exciting and fresh ideas.
If you are interested to know more about coworking spaces, get in touch with one of our project managers by calling 415-483-6050. Discuss your needs and book a tour of your potential startup office space in San Francisco today!