Coworking spaces have many benefits. In the early days of a business or startup, the open area workspaces can give companies a place to do their jobs without having to invest in renting a traditional office space. It’s a quick, easy option with low costs and lots of flexibility. At some point, however, businesses may need to consider other options. What is this tipping point? Here are some signs that it might be time to move on to an office of your own.
There are some clear signs that it’s time to consider “graduating” from a coworking space. For starters, keep an eye on what you’re using the space for.
When you begin a business, you might be doing a ton of work online. At some point, however, in-person meetings might be necessary for many business interactions. As more and more meetings need to take place, it can be challenging to host them all in your coworking space depending on its amenities and policies. The better option might be looking into a space of your own that includes a dedicated meeting room.
A great aspect of a coworking space is being able to bring a laptop and have access to space to work. As your business grows, however, you might need technology, equipment, and supplies that cannot be as easily transported. Getting your own office allows you to “set up shop” and have dedicated space for the physical components of your operation.
Coworking has a temporary feel to it. As you grow your business, moving into a space you can call your own makes a statement about your success and staying power. Small businesses might consider relocating to an executive suite, which typically comes with a private office as well as shared kitchen, conference, and reception amenities.