San Francisco represents one of the most expensive real estate environments in the world. Unfortunately, these high prices carry over into the cost of doing business. Finding affordable office spaces to rent can be prohibitively expensive, especially for emerging entrepreneurs and startups seeking to break into any industry.
One novel solution to this problem is the rise of the coworking space in SF. Not only is choosing a shared working space more affordable than the traditional rental alternatives, but coworking comes with a host of other benefits as well.
Let’s look at four reasons to choose a coworking space for your startup in San Francisco.
A Variety Of Affordable Options
The introduction should have tipped you off to one of the most prominent benefits of choosing a coworking space – the affordability. Whereas choosing a traditional office building for your business needs can be expensive and the cost of repairs and continual maintenance can add up on your expense sheet too, coworking is a highly affordable option for startups of all sizes.
Do not think that coworking is a monolithic possibility either. Premium providers of coworking space offer several different options to suit your business’ needs. This includes hot desking, for those who want a low-priced option that is big on flexibility where desks are distributed each day on a first-come, first-served basis. There is also the potential to secure a set of dedicated desks or even a private office if your startup could benefit from more structure.
While working out of your garage or living room can be an affordable option for startups who are just getting off the ground, these environments are not always the most conducive to generating high levels of motivation and meaning towards your work.
With coworking spaces, you and your team will be surrounded by dynamic and driven individuals from a variety of industries. Witnessing the passion of others applied towards their projects can give you the inspiration you need to push on and make your startup a success.
Collaboration And Creativity
As a bonus, you are sure to find that some of your colleagues in the coworking space are experts in their field. These may be areas where your business is lacking. In these cases, meaningful collaborations can take place. You never know who in your coworking space might have just the skill set you are looking for.
In addition, the communal nature of coworking lends itself to creative thinking. Whether you are brainstorming with those at the desks near you or discussing project details over coffee in the lounge area, you are sure to benefit from the ideas and advice of your colleagues.
Coworking represents an ideal opportunity for networking as well. Every startup needs to be efficient in this area in order to break into your market and make solid contacts. Try attending several of the community events put on by your premium provider of coworking space. These happy hours and informal get-togethers can establish connections to your colleagues outside of the workplace. Through causal discussion, you can demonstrate your own passion for your business and inspire people to want to help you to reach your goals.
The Obvious Choice
Coworking is the clear choice for realistic and savvy entrepreneurs in the San Francisco area. For the reason of cost alone, they make a great deal of sense for startups who have limited access to capital in their early stages. Considering the additional benefits, it is clear that coworking can open doors that would be inaccessible to your startup in other working environments.