Coworking Space vs Private Office: Which Is the Better Deal?
Coworking space vs private office: compare rent, facilities, exclusivity and prestige to decide which rental option is the better fit for your company.
An office does more than serve as a company's registered address. It matters far more than that, because it is where employees spend nearly half of their time. Business owners who are just starting out naturally want an office of their own. But it is undeniable that this is not easy to achieve. Several factors have to be weighed carefully, one of them the budget for buying a shophouse (ruko) or an office building.
It is no secret that shophouses and office buildings, especially in big cities, carry fantastic price tags. That is one of the obstacles to buying one. There is an alternative if you still want an office: rent one. Before you do, think about which your company needs more, a coworking space or a private office. To avoid choosing wrong, read the explanation below.
Contents
Coworking Space
What Is a Coworking Space?
The first option to cover is the coworking space. By definition, a coworking space is a collaborative workspace that lets you work alongside employees of other companies. It is built on the idea of sharing, because a single room holds individuals from different companies.
In fact, the term coworking has been around for a long time, reportedly since 1600. But it became much better known and popular after Brad Neuberg, a programmer, opened a coworking space in San Francisco, in the United States, in 2005.
Also read 4 Things to Consider Before Renting a Coworking Space
Advantages of a Coworking Space
A coworking space has several advantages, including:
- Lower rent
- The chance to share experience and knowledge with other people
- More productive employees
- The chance to build business opportunities
Private Office
What Is a Private Office?
Besides coworking spaces, office rental providers usually offer private offices: private office rooms designed with a modern, attractive interior. A private office typically comes with basic office equipment such as desks, chairs and an internet connection. Office rental providers also usually rent out private offices with supporting facilities such as a pantry, lounge, meeting room and more.
Advantages of a Private Office
- Full facilities
- More exclusive
- Can improve your company's image
- A prestigious address
- Saves more money
Which Is the Better Deal: Coworking Space or Private Office?
On cost savings, a coworking space is the right choice for your company, because its rent is much cheaper than that of a private office. On exclusivity and complete facilities, though, a private office is likely the better fit.
That is the explanation of the two kinds of rental office, coworking space and private office, for you to use as a reference. So, have you made your choice?
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