Co-working spaces have revolutionized the way people work in recent years, offering a dynamic and flexible alternative to traditional office environments. These shared workspaces provide individuals and businesses with a unique opportunity to collaborate, innovate.
Co-working spaces come in various forms, from open-plan offices to private meeting rooms, catering to the diverse needs of freelancers, entrepreneurs, startups. And even established corporations.
However the Question is to Ask, “What Types of Coworking Spaces are Available?”
One of the key benefits of co-working spaces is their ability to foster creativity and collaboration. By bringing together individuals from various industries and backgrounds under one roof.
Let’s Discuss more…
What Types of Co-working Spaces Are Available?
Co-working spaces come in various types and configurations to cater to the diverse needs of professionals and businesses. Here are some common types of co-working spaces available:
- Open Workspace: This is the most common type of co-working space, characterized by open floor plans with rows of desks and shared workstations. It’s ideal for individuals and small teams looking for an affordable and collaborative environment.
- Private Offices: Some co-working spaces offer private offices or suites that can accommodate individuals or larger teams. These spaces provide the benefits of a traditional office while still offering access to communal areas and services.
- Shared Desks: Shared desks are individual workstations within an open workspace. Users can choose any available desk on a first-come, first-served basis. It’s a flexible option for those who don’t need a dedicated space.
- Dedicated Desks: Dedicated desks are reserved workstations in an open workspace. Users have their own designated desk and storage space. Providing a sense of ownership and consistency.
- Virtual Offices: Virtual office services offer businesses a prestigious business address, mail handling. And occasional access to meeting rooms and workspace. It’s ideal for remote workers and small businesses that need a professional image without a physical office.
- Meeting Rooms and Conference Spaces: Co-working spaces often provide well-equipped meeting rooms and conference facilities that can be booked on an as-needed basis. These spaces are essential for client meetings, presentations, and group collaborations.
When choosing a coworking space, it is important to consider your needs and budget. Think about what type of space you need. What amenities are important to you, and how much you are willing to spend.
The History Of Coworking
The history of co-working is a fascinating journey that has evolved over the past few decades, transforming the way people work and collaborate. Here’s a brief overview of the key milestones in the history of co-working:
- 1995 – “Co-Working” Coined: The term “co-working” was first coined by Bernie DeKoven and used in a paper by Brad Neuberg. Neuberg is often credited with starting the modern co-working movement in San Francisco.
- 2000 – Spiral Muse and 42 West 24: In San Francisco, Spiral Muse and 42 West 24 opened as some of the earliest co-working spaces, offering shared office environments that emphasized collaboration and community.
- 2005 – Hat Factory and the Birth of the Movement: The Hat Factory, a co-working space in San Francisco, is often considered one of the first official co-working spaces. It served as a blueprint for other spaces and laid the foundation for the global co-working movement.
- 2007 – WeWork: WeWork, now one of the most well-known co-working brands globally, was founded by Adam Neumann and Miguel McKelvey in New York City. WeWork’s rapid growth and innovative approach to workspace design helped bring co-working into the mainstream
- 2009 – Emergence of Co-working Associations: Organizations like the European Coworking Assembly and the Coworking Wiki began forming to support the co-working community and promote best practices.
- 2010s – Co-Working Goes Global: Co-working spaces started to spread rapidly worldwide, with new spaces opening in major cities across the globe. Co-working became an integral part of the gig economy and remote work culture.
- 2017 – WeWork’s Valuation: WeWork briefly achieved a valuation of over $47 billion, making it one of the most valuable startups globally. This highlighted the growing demand for flexible office spaces.
- 2020 – Impact of the COVID-19 Pandemic: The COVID-19 pandemic led to a shift in how people approached co-working. While some spaces faced challenges due to health concerns. Others adapted by implementing safety measures and offering flexible remote work solutions.
- 2023 Onward – Co-Working Evolution: Co-working spaces continue to evolve, with a focus on hybrid work solutions. Enhanced health and safety measures, and catering to the changing needs of remote and distributed teams.
The history of co-working reflects a changing work landscape, with a growing emphasis on flexibility, community, and collaboration.
Who Uses Coworking Spaces?
Coworking spaces are used by a wide variety of people, including:
- Freelancers and remote workers: Coworking spaces offer freelancers and remote workers a professional place to work, access to amenities like high-speed internet and meeting rooms, and the opportunity to network with other professionals.
- Entrepreneurs and startups: Coworking spaces can provide entrepreneurs and startups with a low-cost and flexible workspace. As well as access to resources and mentorship.
- Small businesses: Coworking spaces can be a good option for small businesses that are looking to save money on rent and utilities, or that need a flexible workspace.
- Large companies: Some large companies are also using coworking spaces to provide their employees with a more flexible and collaborative work environment.
- Students: Students can use coworking spaces to study, work on group projects, and network with professionals.
- Nonprofit organizations: Nonprofit organizations can use coworking spaces to save money on rent and utilities, and to collaborate with other organizations.
The diversity of users in co-working spaces contributes to the vibrant and dynamic communities often found in these environments.
The Average Cost Of Rent Coworking Spaces Worldwide
The average cost of coworking spaces worldwide varies depending on the location, amenities, and type of membership. However, according to Coworker Insights, the global average cost of a hot desk in a coworking space was $206 per month in 2023.
Here is a breakdown of the average cost of coworking spaces in different regions of the world:
- North America: $246 per month
- Oceania: $285 per month
- Europe: $213 per month
- South America: $164 per month
- Asia: $127 per month
Here is a breakdown of the average cost to rent a coworking space in Dhaka, Bangladesh:
- Dedicated desk: BDT 25,000 – BDT 35,000 per month
- Hot desk: BDT 450 – 550 per day
- Day pass: BDT 100 – BDT 200 per day
Some coworking spaces in Dhaka also offer private offices. Which can range in price from BDT 1,500 – BDT 2,500 per month.
Of course, there are coworking spaces that are more expensive and less expensive than the average. For example, coworking spaces in major cities like New York City and London are typically more expensive than coworking spaces in smaller cities and rural areas.
Co-Working & Virtual Space for Rent Price in Bashundhara Area
Name of our Product | Price Per Month |
Hot Desk or Shared Desk | 12,000 BDT |
Dedicated Executive Desk | 18,000 BDT |
Shared Hot Desk Desk | 7,200 BDT |
CEO /Director Chamber / Room | 54,000 BDT |
Manager Chamber /Room | 42,000 BDT |
Meeting Room – 48 Hrs Notice | 7,200 BDT |
Virtual Business Address | 9,600 BDT |
Virtual Phone Number | 2,400 BDT |
Virtual Mailbox | 2,400 BDT |
The Pros and Cons of Renting a Co-working Space
Pros:
- Affordability: Coworking spaces are often more affordable than traditional office space, especially for startups and small businesses.
- Flexibility: Coworking spaces offer a variety of flexible membership options, so you can choose the one that best suits your needs and budget. You can also scale up or down your space as needed.
- Community: Coworking spaces provide a sense of community and support for workers. You can meet other professionals in your field and learn from their experiences. You can also collaborate on projects and make new friends.
- Productivity: Studies have shown that people who work in coworking spaces are more likely to report feeling focused and motivated. This is likely due to the fact that coworking spaces are designed to be productive environments.
- Amenities: Coworking spaces typically offer a variety of amenities that can be beneficial for workers. Such as high-speed internet, meeting rooms, printing services, and kitchens.
Cons:
- Distractions: Coworking spaces can be noisy and distracting, especially if you are used to working in a quiet environment.
- Lack of privacy: Coworking spaces are typically open spaces, so there is not a lot of privacy. If you need to work on confidential projects. A coworking space may not be the best option for you.
- Rules and regulations: Coworking spaces may have rules and regulations that you need to follow, such as noise restrictions and guest policies.
- Location: Coworking spaces may not be located in convenient locations. If you have to commute a long distance to get to a coworking space, it may not be worth it.
Overall, coworking spaces have a number of pros and cons. It is important to weigh the pros and cons carefully before deciding if a coworking space is right for you.
Top 5 Tips to Consider When Choosing a Coworking Space
Here are the top 5 tips to consider when choosing a coworking space:
- Location: Consider the coworking space’s location and proximity to your home, work, or other important places. You want to choose a space that is easy to get to and from.
- Amenities: Consider the amenities that are important to you. Some coworking spaces offer amenities such as high-speed internet, meeting rooms, printers, kitchens, and even fitness centers.
- Community: Consider the type of community you want to be a part of. Some coworking spaces are geared towards specific industries, while others are more general. You want to choose a space where you feel comfortable and welcome.
- Price: Coworking spaces can range in price, so it’s important to set a budget before you start your search. Consider the membership options that are available and choose a plan that fits your needs and budget.
- Flexibility: Consider how flexible the coworking space is. Some spaces require long-term commitments, while others offer more flexible membership options. You want to choose a space that is flexible enough to meet your needs.
Conclusion
co-working spaces have transformed the way people work and collaborate in the modern era. These flexible and innovative environments offer a wide range of benefits to individuals, startups, small businesses, and even larger corporations.
Co-working spaces provide an answer to the evolving needs of the workforce. Offering not only physical workspace but also opportunities for networking, collaboration, and a sense of community.
The history of co-working reflects its rapid growth and adaptation to changing work dynamics. From its early beginnings in the early 2000s to its widespread global presence today. Co-working has become synonymous with flexibility, cost-effectiveness.