How to Find Your Ideal Coworking Space

The right workspace can transform your business and help accelerate your growth. Many investors ask what is a coworking space and how it differs from traditional offices. When comparing coworking vs traditional office space, shared workspaces offer entrepreneurs and freelancers significant advantages: lower overhead costs, built-in networking, and the flexibility to scale. Selecting the right one requires careful evaluation of your specific needs, budget, and growth plans.

1. Assess Your Needs

Understanding your requirements is the first step toward making an informed renting decision. If you're new to leasing commercial space, our guide on how to rent office space can help you get started. Begin by listing your daily operations - do you need dedicated phone areas for client calls, quiet zones for focused work, or collaborative spaces for team meetings? Your privacy needs also impact space selection - some businesses require private offices for confidential work, while others prefer open-plan environments.

2. Location Considerations

Location strategy goes beyond basic convenience, coworking spaces require additional evaluation factors. Start by analyzing the area's walk score - a high score indicates easy access to restaurants, shops, and services.

Consider these key location factors:

• Transportation accessibility: proximity to public transit, parking availability, and major roadways
• Professional ecosystem: presence of complementary businesses, potential clients, and industry clusters
• Convenience features: access to banks, post offices, and business services
• Lifestyle amenities: quality restaurants, fitness centers, and green spaces
• Peak hour dynamics: traffic patterns, lunch hour options, and after-work attractions
• Safety and security: building access controls, neighborhood security, and lighting
• Future development: planned infrastructure improvements or area revitalization projects

3. Evaluate Amenities and Services

Different types of coworking spaces offer varying levels of amenities. Just as commercial property lease types affect your responsibilities, amenity packages influence operational costs. Some spaces even offer a tenant improvement allowance to customize your workspace.

Essential amenities to evaluate:

• Technology Infrastructure:
  • Internet speed and redundancy
  • IT support availability
  • Audio-visual equipment in meeting rooms
• Shared Spaces:
  • Meeting room availability and booking systems
  • Phone booths for private calls
  • Break-out areas for informal meetings
• Comfort and Wellness:
  • Ergonomic furniture options
  • Temperature control and ventilation
  • Natural lighting and sound management

4. Community and Culture

Beyond physical features, evaluate how the space facilitates professional growth and collaboration.

Key community elements to assess:

• Professional Mix:
  • Industry diversity of current tenants
  • Potential for strategic partnerships
  • Complementary business types
• Community Programming:
  • Professional development workshops
  • Structured networking events
  • Knowledge sharing sessions
• Management Approach:
  • Communication style and responsiveness
  • Conflict resolution policies
  • Community guidelines and enforcement

Request to attend a community event before committing to gauge the networking potential and professional atmosphere.

5. Budgeting and Pricing Options

Understanding the cost to lease office space helps compare coworking options against traditional leases. Traditional office leases come in several forms - from nnn leases where tenants handle all expenses to gross leases where most costs are included. Coworking spaces offer a simpler alternative, with predictable monthly expenses that bundle utilities, maintenance, and amenities into one payment.

Common membership options for businesses include:

• Remote team hub: Drop-in space for distributed teams
• Expansion space: Overflow offices for growing companies
• Satellite office: Professional space in new markets
• Project space: Short-term areas for temporary teams

When evaluating coworking costs, consider these business-focused expenses beyond the base membership:

• Core services:
  • Team member access rights
  • Client meeting credits
  • Business address usage
• Growth costs:
  • Additional desk fees
  • Team space upgrades
  • Storage expansion
• Professional services:
  • Phone answering service
  • Package handling
  • After-hours access

Monthly agreements offer room to scale, while longer terms can reduce costs by 20-30%. Consider your growth timeline - many spaces offer mid-lease expansions without restarting contract terms. Compare total occupancy costs against your projected revenue to find the right balance of flexibility and value.

6. Trial Periods and Flexibility

What to look for when touring a coworking space goes beyond basic amenities and location - take advantage of trial periods to evaluate the space in action. Day passes allow you to test:

• Peak hours:
  • Morning meeting room availability
  • Lunchtime noise levels
  • Afternoon phone booth access
• Space dynamics:
  • Internet speed during high usage
  • Temperature consistency
  • Natural light changes

Schedule multiple visits at different times to understand:

• Member patterns:
  • Common areas during events
  • Kitchen traffic flow
  • Printer and equipment wait times

Most spaces offer week-long trials or three to five day passes. Use this time to test your potential commute, experience member events, and confirm the space matches your work style before signing a longer agreement.

Closing Thoughts

To make the most of your coworking space, take time to evaluate each aspect covered in this guide. Your choice affects daily operations, team productivity, and business growth. Ready to explore your options? Browse available coworking spaces for lease and start touring locations that match your criteria.

This article was updated on 12/13/2024