8/6/18

Key Aspects to Consider When Choosing Coworking Space for a Startup

Coworking is a growing trend for startups as well as for people who work from home. With coworking spaces, you pay for a membership, either for a choice of seating options every day or a dedicated desk. There are even offices available at many coworking companies. These companies then provide things such as printing and coffee, helping startups save money. Startups can gain numerous benefits from coworking spaces, including cost savings, networking, a better work environment, and access to new talent from other people in the space. They also deliver the flexibility startups need since you don’t have to commit to a several-year lease for an office.

startup
Coworking spaces provide a long list of benefits for startups.

The Most Important Considerations for Startups Looking at Coworking Spaces

A key consideration for any startup looking for a coworking space should be cost-effectiveness and the value of the membership. Startups need to make every penny count, as funding can be scarce, which makes it worth shopping around. Pay attention to not only the rates for monthly memberships but what benefits they include and how many people they include.

amenities
‍ Startups should take a close look at amenities, such as whiteboards and meeting rooms.

Startups should also pay attention to the commitment length. By nature, startups can change, so you may need to move the company to a different side of the city or even another city. Or, you may discover you need more or less room. You don’t want to lose money if you need to switch coworking spaces or change plans.

Don’t forget to pay attention to amenities as well, just like anyone looking at coworking spaces should. You want a space that provides the basics like high-speed internet, printing, scanning, and coffee so you can limit additional expenditures and time wasted finding items you need.

No startup should leave networking and events out of their consideration either since networking is one of the best ways to watch your startup grow and many coworking spaces provide this.

networking
‍Startups should look for coworking spaces with networking events.

How Those Considerations Line Up With Startup Essentials

Each of those considerations plays a key role in a startup’s requirements. As mentioned, startups tend to have limited funding, which makes choosing the most cost-effective space crucial. The budget also comes into play when it comes to finding a space with enough amenities. You don’t want to pay extra for scanning and watch the costs add up, hurting your bottom line.

Startups also need to have the opportunity for quick growth and flexibility, which is why the ability to find a month-to-month or short-term membership is so important. You also need basic amenities such as high-speed internet so you don’t miss out on opportunities due to a lack of connection. Other amenities such as meeting rooms can help when it comes time to meet investors or potential clients. Finally, networking is a key part of any startup’s growth, and if the coworking space you choose already has networking events, this can save you time.

As you consider these elements, take a look at these popular coworking spaces in the USA.

Galvanize has eight campuses across the country and is a coworking space for startups as well as a place to learn new skills that can enhance a startup.

New Lab sits in an old military hub and has room for 350 people in the tech industry, including engineers, entrepreneurs, designers, and startups. One of the great features for startups is the prototyping shops.

New lab

RocketSpace is geared toward tech startups and has a global network of campuses, including in San Francisco, that provide tools specifically for startups.

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Guide to Coworking Space Management

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