What Is A Coworking Space And How Does It Work?

Coworking Space

What is a coworking space?

A Coworking space is a fully furnished establishment that is used by professionals, or freelancers as office space for themselves. It is a shared office space which is also equipped with cabins, conference rooms and every other requirement for small to medium scale businesses.

Compass Offices Hong Kong
Source: https://www.sassyhongkong.com/living-coworking-spaces-hong-kong/

How do they make money?

  1. Coworking spaces rent out the space to individuals or companies on per seat basis with the most common types being flexible seat, fixed seat or cabin space.
  2. They also provide conference rooms and halls for seminars and conferences for businesses.
  3. Most coworking spaces have attractive interiors making great collab spaces, recreation space, flexible hours, smoking room and provision of food and beverages on the premises itself.
  4. Coworking spaces provide virtual offices for professionals who would rather work from home but require a business address for mailing/legal purposes. In such cases, an individual or a business which does not have an office address can utilize the coworking space’s address as their correspondence address while paying the coworking space a set fee for the same.
blueprint Co Working Space
Source: https://www.sassyhongkong.com/living-coworking-spaces-hong-kong/

In most cases, coworking spaces fall cheaper for companies with lesser than five people and also save the business initial capital investment. However, if the number of employees is more than five then it would be better to rent an office space in Mumbai rather than opt for a coworking space.

Metro Lifestyle Hong Kong
Source: https://www.sassyhongkong.com/living-coworking-spaces-hong-kong/

Jagaha.com is Mumbai’s first website dedicated to commercial real estate and we would love to help you find your perfect office space. You can inquiry on any property on our website and our location experts would love to set you up on an inspection.