The differences between co-working and shared office spaces vary depending on the requirements and goals of the individuals and businesses using such spaces, and how the space can meet its members’ needs. It’s important to analyze each co-working space and shared office space on an individual basis. Each one will differ in terms of what it can offer you and your business.
Here are some of the key differences you are likely to encounter between these two office environments:
- The target audience
Co-working spaces are usually geared toward freelancers, entrepreneurs, and startup businesses. Shared office spaces tend to cater to more established businesses.
- The location
Co-working spaces are not tied to a specific location and most are standalone buildings. Shared office spaces are usually housed in serviced business centers, which may offer other workspace solutions such as virtual or private offices.
- The difference in the users: A serviced office in Bangalore is used by companies where they take the entire building or some floors of the building for its employees. Such an office has the desks and other basics intact and has cubicles made for its employees and the distinction of the hierarchy. So people from the same company come and work here on the same floor and building. This can be also referred to as the business center. On the other hand, a co-working space is not undertaken by an organization; instead, professionals can take a single seat to work in an office environment.
- Ambiance: Co-working spaces are plush, exuberant, with not only desks that are fully equipped, but also amenities that keep the professionals entertained. For this, a co-working space often has distinct areas for work and play. There are pool tables, areas for rest, lounges, and the ease of a plug-and-play office. Serviced offices are comfortable, but since they are hired by large companies, the distinction between entertainment and work is minimal.
- Events: The serviced offices and co-working spaces are used by freelancers, start-ups, corporate, and others. The difference lies in the fact that co-working spaces organize community events for all the people who use their spaces. This is to build camaraderie and for the benefit of the business. Serviced offices, on the other hand, do not conduct these events. Serviced offices do not require networking because employees from the same organization work here.
- The amenities:
At a co-working space, you’ll find entry-level business amenities including free tea and coffee, a shared kitchen, Wi-Fi connectivity, printers, and photocopiers. Some co-working spaces will also include access to the meeting or conference rooms and mail service, for an additional fee. Shared office spaces provide a greater range of traditional office amenities to help their members with the day-to-day running of a company. For example, such spaces may offer full reception services, a kitchen, and a greater range of office equipment.
Both co-working and shared office spaces provide members with a workspace on a flexible basis and a range of other benefits. Both types of space are already furnished; provide a range of amenities and a more professional space than your home office. Both spaces will also allow you to increase or decrease the number of desks you need as your business scales and provide a more cost-effective solution compared to setting up a standalone office space. Shared office spaces provide a quieter and more private environment. So, they lend themselves more naturally to businesses that want to knuckle down and focus on building their brand, products, and services in the privacy of a dedicated office. Co-working spaces tend to offer environments where newer companies and individuals can network collaborate and begin to firm up their business plans. There’s an inherent lack of privacy in the majority of co-working spaces, but a stronger emphasis on community and brainstorming new business ideas.