Are you considering setting up a co-working office space for your organization? It's an excellent way to provide an office environment without investing in a commercial lease. But what are the costs associated with it? In this article, we'll discuss the costs of coworking spaces, the average price of memberships, and how they differ from traditional office rentals. The first stage of operating a coworking space includes the costs of rent, desks and chairs, an insurance policy, wireless routers, as well as the operating costs of utilities, water, electricity, and a reliable and robust Internet connection. To help you make an informed decision about your organization's next workspace, we've put together a brief but informative guide to the costs of coworking spaces.
In these collaborative environments, several companies share a dedicated space for their employees to work, making it a more cost-effective way to provide an office environment without investing in a commercial lease. Shared space can be a new avenue for personal and professional growth, a key factor for collaboration between like-minded people and the drive to create the “sense of community” that cubicles are often lacking in a typical office environment. When it comes to pricing, there is a correlation between square footage and cost. Office suites generally house more employees than a private office.
It's the higher number of employees per square foot (along with the average terms of longer contracts) that causes the prices of office suites to fall to the same level as those of private offices, despite the additional specialized areas and size of the office suites. To estimate your budget for a coworking space, you can multiply the total cost of the space by three; then, that number can be divided by the number of desks needed (the number of square feet divided by 100). Creating a large coworking space can cost absolutely nothing, because coworking doesn't require a dedicated space to do so. While office suites are often a combination of a private office, meeting room, and some shared space, keep in mind that their average price tends to be very similar to that of a simple private office space.
Coworking spaces offer flexible office solutions with several subscription options. The cost will vary depending on location; for example, a coworking space in New York City is likely to cost more than one in rural Wisconsin. All of this is surrounded by the activity of customers who use the coworking space as an office. Coworking offers everything from fractional seating and dedicated desks to custom buildings and private offices, providing office and desk space solutions to freelancers and start-ups, companies and large global conglomerates alike.