7 Common Mistakes Members Make When Choosing a Coworking Space

In the age of entrepreneurship, coworking spaces are gaining popularity. The popularity is broadly attributed to the convenience which coworking space gives, especially the facilities of flexible payment options that can suit to various needs of a budding entrepreneur. 

Coworking space is the idea of sharing an office with people. A user has to pay for space that he or she is using and for how much duration which might be just a desk in an office for 8 hours. Coworking space also gives the flexibility to rent out a conference room or additional space as and when required.

As the demand for coworking spaces in Gurgaon is increasing, more and more properties are coming up with many new real estate companies dealing in it. But all doesn’t come with facilities which an entrepreneur may require, they missed out on 1 or more crucial factors such as connectivity, etc.

To ensure you choose the right coworking space, here the list of 7 most common mistakes members make when choosing a coworking space.

Price, as the only factor-

Most people while renting a coworking space considers the only price as the only factor to decide. But this approach has some big flaws in it.

Price is a factor but other factors such as the location of the property, facilities, furniture, connectivity are equally important and must be considered while making a decision. 

Maybe the entrepreneur gets a coworking space which is located in a remote area with minimal connectivity and will take around an hour to reach there and no public transport is available to reach there, this case will that CHEAP space useful and even more costly than other due to high cost of reaching there but monetary and time-wise.

Location-

Choosing the correct location is very important for any business. A location suitable for business A might be the most unfit location for business B. 

A suitable location is the one which is near to your clients or the cluster of business located near to your location to whom you want to sell your services or product hence maximizing the chances of getting new clients.

Location is required to be located near the residence of an entrepreneur to reduce travel costs and to waste a minimal amount of time in reaching there.

Connectivity-

Ignoring connectivity to various parts of the city and other means of transport to travel outstation is a big mistake because an entrepreneur has to visit various locations within the city or across various cities or even across nations in search of business. 

A coworking space well connected through various means of transport is desirable which not only includes roads and public transport but also the railway station and airport. 

Yes, coworking space costs will go up as its connectivity with various means of transport increases. For example, the coworking spaces near the airport are very costly.  But one has to carefully understand what kind of connectivity is required by a particular business.

Power back-up and Internet connectivity-

In the digital era, power back-up and digital connectivity is of utmost importance and a property located at the prime location but missing out on power-backup and internet connectivity Is of no use for most of the businesses.

This factor becomes even more prominent in tier 2 and 3 cities where electricity is still not present 24X7. 

Some locations don’t have proper internet connectivity and speed required to perform a task as video calls will never be possible. For all these applications, high-speed internet with 24X7 availability is not a luxury but a basic requirement.

Facilities like reception area-

Facilities like reception area and common area or waiting area may seem not so important initially but people tend to realize their importance when their clients complain about it but then it’s too late and the only option left is to shift the office or compromise with it.

The reception area also helps in safely receiving important letters and documents which come through courier or post. 

In this COVID period, the reception area can also be utilized as an area in which sanitization and other security measures can be taken.

Security-

Coworking space is used by many professionals and even your desk will be used by some other professional in some other time slot so it is very important to have proper security arrangements like high definition CCTV cameras installed. Also, as there are many professionals visit it is important to have security guards and biometric-based entry to ensure no unwanted guests visit the coworking space.

Lease terms-

Different coworking space comes with different lease options. Generally, if you lease out space for a longer duration it will much cheaper than for a shorter duration. 

Also, some coworking space includes rent just for space, and any facility like internet or stationary or beverage will costs extra. These small expenses can disrupt your budget to a larger extend in the longer run.

Also, confirm the conditions of renting out extra space if needed in the future. A business might require a conference room and if the conference room comes at a hefty rent then it is a major drawback of that coworking space.

It is important to understand the lease terms and pick the plan which is cost-effective and suits a business.

Conclusion

Coworking space in Ahmedabad is gaining popularity and after lockdown due to COVID-19, the demand for coworking space increased even further. But, to harness this demand more and more coworking spaces are now available. But every coworking space is not the same and is not suitable for every business.

To avoid regretting later, one must carefully select coworking space considering all important factors and avoid making common mistakes mentioned in this blog. 

An intelligent person learns from mistakes but a wise person learns from other person mistakes so it is important to carefully understand these mistakes as these are the most common ones.