Coworking is rising as the most preferred destination for startups, entrepreneurs, and even large-cap companies looking for expansion in a cost-effective way and eliminating the traditional idea of locking themselves in long office leases.

Beyond flexibility and affordability, there are many factors that companies need to consider when selecting a coworking space –

Define the nature of your business

Every coworking space has a unique vibe, and it is essential to understand the soul of your company before choosing any space. For instance, if you’re a freelancer identify a coworking space that blossoms a community of freelancers. If you’re building a stable service business, then looking for a space where there are opportunities to work with a similar niche can be beneficial.

Define the stage of your business

All early-stage companies have some limitations – no board or governance, no investors to please. As the company leaps towards a growth trajectory, it starts building its own culture, thus eye for expansion. It is essential to understand the strength of your team before paving the way for the coworking space.

Consistent connectivity

If you’re into a business that holds office outlets in various countries, chances are you might not want to invest in any local coworking spaces. Do thorough research on your selected coworking space, whether they have a branch in the country you operate, and what are their goals for the future. These are important questions to consider while choosing a coworking space.

Security

Access to the workspace which is available 24/7 is essential these days. Theft in coworking spaces is extremely rare but it is good to know who can access what.

Pricing

You need to choose a coworking space that offers a great environment and has state of art facilities without making a deep hole in your pocket for all the lease and other administrative expenses. Always look for the office where you do not have to shell out a big chunk of money in the form of security deposits. Coworking space relies on plug and play model as you’re bound to pay in accordance with the usage limit.