How Co-Working Spaces Are Changing To Become The Future Model
Co-working spaces began as just another office industry concept. They have quickly become a global phenomenon.
According to Coworking Resources, the total number of coworking spaces is expected to exceed 20,000 by 2020. For a concept that was introduced about a decade ago, it has certainly taken off faster than anyone could have predicted.
Another indicator of this expansion can be found in best coworking space . If you haven't heard of them, they are the largest commercial real estate occupier in the London area. You'd think so, given that the company is worth $20 billion, occupies less commercial real estate than the British government, and is heavily invested in co-working spaces.
Pakistan current trend
Pakistan is one of the emerging markets that has embraced co-working, and with good reason. Entrepreneurs and large corporations are constantly looking for ways to increase output while decreasing inputs without cutting corners.
Making sure the human aspect of the business is happy and well taken care of is undoubtedly one way to improve the quality of goods and services provided. This is one of the issues that co-working spaces address.
Co-working spaces sell a culture that is infused with fun and a sense of community, as opposed to the traditional office working model.
If you are an entrepreneur, you may be wondering which type of office rental option to choose.
Comparison of Office-Leasing Models Co-working spaces and traditional leased office spaces are both important in their own right. The former shines brighter for solo entrepreneurs looking for a conducive working environment.
Of course, this would be more expensive than simply sitting in your favourite coffee shop. However, when you factor in high-speed internet, furniture, and other amenities, it becomes a good deal.
The significance extends beyond your solo status to when your business begins to grow. You would be able to relocate to a larger space without being bound by a lease agreement.
One thing you should be concerned about is your branding. The company in charge of your co-working space will almost certainly have its own branding. This, of course, would be louder than anything else you could do to customise the space. As a result, your brand's presentation to clients will suffer.
The networking options are where co-working and traditional office spaces diverge. You (and your employees/colleagues) will be surrounded at all times by executives and employees from other companies. As a result, such places are a goldmine for networking and making valuable connections.
Another thing it does is increase the number of distractions that must be endured. It also significantly reduces control over the types of people with whom you want to associate.
What the Future Holds Global co-working may have more than two million members now, but that number will have more than doubled by the 2020s. According to projections, the number of people who believe in this new idea could reach 5.1 million by 2022.
Pakistan will undoubtedly not be left behind in this trend. With the rate at which brands (particularly start-ups) in the country see this as a viable alternative, the numbers in the country are bound to rise. If anything, this demonstrates the seriousness with which these types of spaces were made available to meet the demands of the time.
Regardless, traditionally leased office space is not going away. They will, without a doubt, face stiff competition, but they will remain. The entrepreneur would then have to decide which model to pursue. The size of their business, their intentions to expand, and their overall business plans.
Branding would also play a significant role. You would be best suited to a traditional space to stamp your effect. Again, this means that the traditional office rental market will have to come up with innovative solutions to keep up with the emerging co-working space trends.
Overall, healthy competition between both models will only push each to be better – for both entrepreneurs and rental space providers.
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