As companies and individuals change and grow, the regular 9 - 5 in a stuffy office has also transformed. Coworking has changed throughout the years and has become a space for startups, freelancers, and even established companies that are looking to maximize flexibility and the in-office experience while keeping costs low. With all the benefits that come with coworking, it's understandable why they would make the switch - let's get into the four of the most important benefits of coworking spaces.
The Four Reasons People Choose Coworking
OneValley at the Roundhouse is not only a coworking space but so much more. The benefits of choosing the Roundhouse aren’t just the flexibility, networking opportunities, or work-life balance. OneValley at the Roundhouse offers something that no other coworking space has, Passport and the Pittsburgh Entrepreneurship Platform.
Understanding the Benefits of Coworking Space
Coworking spaces have rapidly become the home of choice for many of today’s top startups, nonprofits, and established enterprise teams. It begs the question, why have millions of entrepreneurs made the decision to build their businesses in a coworking space?
The past few years have completely upended the way we work and after years of working from home, companies are starting to head back into the office. Coworking spaces offer the perfect solution for hybrid work for small and distributed teams keeping costs low. With all the benefits that come with coworking, it's understandable why they would make the switch – let's get into the four most compelling reasons we see teams embrace coworking spaces and shared offices!
1. Cost Savings
With coworking comes all of the productivity and professional benefits you expect out of a direct commercial lease but at a fraction of the total cost. Coworking spaces help you discover your ideal working environment, providing a variety of settings – independent desks, collaborative lounges, cafes, private conference rooms, and even outdoor settings – and are made to be adaptable to different work patterns. Your office is ready on day one and doesn’t require months of setup. Instead, you start making the most of your office immediately.
Coworking also dramatically lowers the cost of having a high-quality office for your team. The cost savings add up quickly when you factor in the cost of utilities and operating expenses like enterprise-grade internet, reception staffing, cleaning, security, and outfitting an empty office with furniture.
Let’s analyze the cost of setting up space for a team of 17 requiring 10 desks and 2 small private office spaces:
In the end, coworking offers the advantages of an office without the massive hit to your cash flow.
2. Maximum Flexibility and Scalability
Traditional leases typically require 2-5 year commitments with substantial fees to break them (often months or years of rent). This approach doesn’t allow companies’ to scale up or down for teams that are constantly growing and evolving. It can also prove to be a source of stress in times of emergency, as seen with the coronavirus pandemic, or changes in an organization’s finances.
Coworking allows teams the option to grow or scale down in a matter of days (sometimes hours). Month-to-month policies make it easy to take a step back, and if you need to leave for whatever reason, notice can often be as short as 30 days with no costs or complexity to move out. This creates a powerful combination of both operational and financial flexibility for any organization.
3. Top Notch Amenities
When it comes to coworking space amenities, you can assume traditional office needs will be met: printing, scanning, mail service, reception, security, etc. It’s the extras that make or break a space and give you a diversity of options when looking for your business’s new home.
For example, at the OneValley Innovation Center in Pittsburgh, members have access to unique workspace environments, like fully equipped conference rooms, outdoor seating, on-demand event spaces, cafe space, and collaborative lounge spaces. The center is located on a street with ample parking, a bus line to downtown, and a bike lane (bike storage and locker rooms are available on-site for those that cycle to-and-from the office). Our on-site cafe offers all-day access to snacks, coffee, and a beer tap of local brews.
Having easy access to these extra amenities means giving your employees a better working experience without the productivity and capital cost of adding your own perks to a traditional office space.
4. Community and Networking
The past few years have completely upended the way we work and after years of working from home, companies are starting to head back into the office. Coworking spaces. Offer the perfect solution for hybrid work for small and distributed teams.
Surrounding yourself and your team with other members of the local startup community opens up opportunities for connections and collaboration. In addition to the day-to-day benefits, coworking space calendars of happy hours, luncheons, and large-scale events facilitate community networking without the hassle. Maximize your time and seamlessly build your network by letting your coworking space do the work.
Or, host your own event! Many coworking spaces, like OneValley, offer event venue rentals for your own private meetups, holiday parties, or networking events.
Work from OneValley’s Pittsburgh Innovation Center (Roundhouse)
Coworking spaces have modernized the traditional office setting, making it possible to work whenever and wherever you want. Many of the most creative and quickly growing startups, small businesses, and entrepreneurs in the area can obtain the assistance they need to flourish at OneValley’s Pittsburgh Innovation Center (The Roundhouse), a new and growing coworking space and event hub in Hazelwood Green.
When assessing whether coworking spaces meet your company's needs, consider the benefits, such as networking possibilities and cost-efficiency. Now is the time to choose what will benefit you most!
Head to our website to take a virtual tour of The Roundhouse, or come in to meet the team and check out the space for yourself!
“The OneValley Roundhouse is an astounding site with such a rich history. The final product is an amazing sight, from the outdoor preservation of the structure that once stood to the interior preservation of cranes, metal benches, and wood from the original site. Walking around the inside, you get a feel for what once stood on this ancient site from the photos that hang on the walls. The co-working space is very modern and cozy. I love how the site is being used as multipurpose for theater productions, local and corporate events, and as a community meeting space.”
- Jacquie Foradori, Google Review