Debunking Top 5 Myths About Coworking

Choosing the right workspace is a crucial business choice for organisations. The office space where the employees spend most of their time, has to have a motivating effect on them. It shouldn’t be just a cubicle with internet access, as it used to be with traditional offices. It’s one of the key reasons why coworking spaces have surged in popularity over the recent years.

Organisations are increasingly opting for coworking spaces precisely owing to the benefits it brings their employees and of course, their businesses. If you are keen on knowing the benefits of a coworking space, we promise to discuss it in another post. The present post is dedicated to debunking the myths around coworking.

#Myth1

A coworking space is no better than a noisy, open fairground full of strangers, hailing from different companies.

#Fact1

A coworking space or a flex space comes with a variety of office spaces, fitting both large teams and solo workers. You get the option to choose your personal desk or a private cabin for a noiseless experience. There are dedicated desks for individual workers as well as private offices. For instance, a coworking space in Mumbai usually accommodates small teams of 10 people and large teams of 200+ people. Here you find greater flexibility to alter the office space as per your team’s requirements. 

A works offer lounges, meeting rooms, kitchens, shared common spaces, private phone booths, and outdoor spaces such as a rooftop or a balcony accessible to members at all times. Precisely, it is an office space with complete flexibility for customization, where you get to choose the amount of noise you can bear. 

#Myth2 

Coworking spaces are way more costlier than regular office spaces.

#Fact2

Contrary to widespread belief, a coworking space can actually save you almost 26% per employee over a prolonged period of five years. Reflect on it when you plan to rent your own private office, you literally have to deal with a seemingly endless catalogue of expenses  including the  furniture, office equipment, design, utilities, internet, cleaning, management fees, insurance, taxes, and a multitude of other headaches.

At a coworking space, all facilities and privileges are defined forthright and included in the price. Which means,  you are totally aware of exactly what you’re getting into and how much you have to pay for it. Moreover, you don’t have to go through the hassle of designating the staff or time management. A managed office space is meant to take care of everything, even the happy hours and birthday celebrations.

If you draw a comparison between the cost of a private office in BKC, Mumbai, which is one of the most sought after central business districts and the cost of a coworking space in BKC, you will find that the coworking space will eventually come out as the winner for larger teams over a 3 year period. 

And if you are worrying that the coworking space is your temporary solution and it won’t be suitable for the long run — in fact, it’s just the opposite. A flex space is easy to scale up (or down) suiting your business’s dynamic growth.

#Myth3

A coworking space is only meant for startups and freelancers. 

#Fact3

Although the coworking concept was initially predominant among startups, freelancers, and tech folks, today, it’s being rapidly embraced by several well-known brands such as Samsung, Microsoft, Barclays Bank, and McDonald’s. Why are these companies opting for a flex space? Once again, we will save that discussion for another post. 

#Myth4

Conducting business in a shared space means you are not running a real show. 

#Fact4

You might find this idea of walking your customers past crowds of freelancers working across rows of desks, quite embarrassing. But compare that to a cramped office in Andheri, Mumbai versus the elegance of a coworking space in Andheri.

The general notion that your business is operating in a coworking space because you don’t have the financial stability to pay for a real office space is a thing of the past.

In reality, most enterprises consider operating from a flex space, a point of pride. Study shows that such shared spaces have actually managed to fetch overwhelmingly positive response in regards to the stylish and chic appeal of the coworking offices over the traditional workplaces. Also, the contemporary world of business views coworking spaces as the hub for innovation and forward thinking.

#Myth5

All flex spaces are the same. 

#Fact5

Not necessarily! It might apparently look like every shared office has the same privileges to offer, but that’s not true. 

There lies huge differences in the domain of services offered, locations, the level of health and safety measures, and the overall atmosphere delivered by different shared office spaces. Additionally, the marketplace that helps you land on your ideal shared space matters a lot.