Smaller companies and startups have been better positioned to compete with more established businesses through the new trend of using co-working spaces. A great option for startups and smaller companies, co-working allows employers to set up shop in desirable locations with on-site amenities that might otherwise be an expensive upfront cost. But how do you know when you’ve outgrown this space? Here are some indicators that it may be time to move on from co-working space and into a space of your own.
Whether your growth has been rapid or steady, you will likely get to a point when hiring more employees is required. Many co-working space contracts limit the number of employees you can have within your rented space. Even if you think you can get away with allowing some staff members to work remotely, doing so will mean the operating rhythm that contributed to your success may change. Ensuring your team can effectively communicate—whether through formal meetings or impromptu discussions—will foster continued growth.
Although many co-working spaces are equipped with modern amenities, there is a limit to how much you can do to truly make the space your own. Having a workspace that reflects your company’s culture is important for both potential clients visiting for a meeting and new employees coming in to interview. Whether you add branded logos and color schemes or adorn the walls with art or company values, having your own space allows you to show prospective clients, partners, and employees what you stand for.
A highly beneficial aspect of co-working is the cost-saving opportunity to share workplace resources (e.g., copier, kitchen, receptionist) with other businesses. At some point, however, you may decide that your firm has enough staff members that having resources of your own will help the team be more productive.
Cummings Executive Suites is affiliated with Cummings Properties, which helps businesses of all sizes find co-working, executive office, and dedicated office spaces. If you are looking to upgrade from a co-working space to your own office, give Cummings Properties a call today. We have an extensive portfolio spread throughout the Greater Boston area, and our talented leasing officers will be delighted to assist you in finding the location that meets your needs. Explore some of our featured listings here, or fill out our convenient online contact form so that we can call you at your convenience.