The main difference between coworking spaces and traditional office spaces is the level of flexibility and community they offer.
Office spaces are typically leased or rented by a single company or organisation for their exclusive use. These spaces are usually designed to accommodate a specific number of employees, and they often require a long-term commitment from the tenant. Office spaces may offer amenities like private offices, meeting rooms, and communal spaces like break out rooms or kitchens but the tenant will have the option to pay to customise the space as they wish.
In contrast, coworking spaces are designed to be shared by individuals from different companies or organisations. Coworking spaces are usually more flexible than traditional office spaces, offering short-term leases or membership options. Members can typically choose from a range of workspaces, from private offices to hot desks, and can scale their membership up or down depending on their needs. Coworking spaces may also offer amenities like high-speed internet, printing and scanning facilities and access to meeting rooms.
Coworking
Flexibility: Very flexible environment, for multiple individuals or companies. The space can be rented on a short-term, even daily basis.
Cost: Operating on a membership or pay-per-use basis, coworking spaces are notoriously more cost effective as a short-term solution to your office needs. There are various plans and options available to suit all budgets.
Amenities and Services: There are coworking spaces out there that quite literally have something for everyone! Offering a wide range of amenities and services to enhance productivity and convenience. These can include high-speed internet, meeting rooms, printing facilities, reception services, community events, and access to a network of professionals.
Networking and community: With an incredibly collaborative environment, coworking spaces offer the opportunity for professionals from different backgrounds to work alongside each other. The ideal scenario for networking, sharing ideas and collaborations, the community aspect of a coworking space is a big plus.
Scalability: Well suited for those that need flexible growth options, coworking spaces can easily adjust your membership or workspace size as and when required.
Work Culture: Coworking spaces generally have a more relaxed and informal atmosphere compared to traditional office spaces. They often promote a sense of community, work-life balance, and work-life integration.
Traditional office space
Flexibility: Longer term lease agreements, often requiring commitments spanning several years. You will lease your own private space, not a shared office.
Cost: Typically requiring fairly significant upfront costs, including lease deposits, furnishing, utilities, fit out of the space and general maintenance, traditional office space is a long-term investment for businesses that plan to stay for long enough to make the cost worth it!
Amenities and Services: With a traditional office space, unless the previous tenant or the landlord has installed things like a café or gym, it will be over to you as the tenant to setup and manage any additional amenities in your space. With landlord consent of course!
Networking and community: Usually occupied by one single company or team, whether that be on a floor or an entire building, the networking and community aspects of a traditional office space are predominantly the responsibility of the company and their culture. But it’s far from impossible, you just need a good team and some fun individuals to get the community together!
Scalability: As you have to commit to a specific square footage when acquiring a traditional office space, it can be more difficult to scale up or down without renegotiating the lease. This can be done though! Need to scale up? Speak to your landlord and see if there is more space you can take (we have a team that can help you with this!). Need to get rid of space? This is called a disposal and very common for anyone needed to dispose of surplus office space so can be easily arranged. Again, we have a team for that!
Work Culture: As a traditional office is yours and yours only, it’s all down to you to create the culture!
It’s important to note that the specific features and characteristics of coworking spaces and traditional office spaces can vary, as different providers or landlords may offer unique arrangements.
If you want to find out more or pick the brain of our experts, give us a call or drop us a message and we’ll in touch!
0203 998 2020
