Is Co-working the Right Move?

Co-working space is popping up all over the place. Without even doing a Google search, I can think of 9 co-working offices in and around Cardiff and thats just off the top of my head. These offices are trendy, communal working environments where multiple freelancers and business owners share the same space. The idea is that you can get all the benefits of having an office, i.e. working space, social environment etc, without the drawbacks, i.e. expensive rent, office upkeep etc. The question is whether or not it is worth it.

First things first lets look at pricing.

Pricing

The majority of Co-working tenants are one man bands so price is a extremely important consideration. Most of the co-working spaces in Cardiff that I have looked into have been between £180-£300/mo. This type of price works well for most, but I can’t understand why there isn’t any cheaper options. After all, you can get your own office for less than £300/mo and have room for a few more of your co working buddies.

Its impossible to know whether or not it is worth it before you break down exactly what you want from the co working office.

Why?

If you want to give your business come credibility by having an actual office address rather than a home address, then you might as well use a Virtual Office service in Cardiff and save yourself 3 grand a year.

On the other hand, if you want to build your network (and practice these networking quotes) or simply need an office community in your day to day life, then co-working is a perfect solution. After all, no-one likes being stuck at home all day.

In summary, co-working isn’t any cheaper than renting an actual office but what it offers is something that is largely lost from the millennial generation. The number of young professionals setting out to make it for themselves is growing year on year. This is amazing because you work on your own terms, you lunch when you want to and you are making money for yourself and not a boss. The drawback to all of this, which many fail to identify, is the loneliness of being an entrepreneur suck behind a screen all day in your bedroom. It takes tremendous growth to be at the point where you have an office full of people working for you and keeping you sane, and THIS is exactly what co-working has to offer.