Finding a co-working space that fits your business model can seem intimidating, but it is not all that difficult if you know what you need to look for. A space that offers flexible rental terms, a culture that matches your company’s ethos, and access to nearby amenities might be just around the corner. Use the information provided below as a guide, and then if you find a co-working space that checks these boxes, make sure to check it out!
You might need a co-working space long-term, or you might only need it for a few weeks. Similarly, your co-working arrangement might change quickly based on a new contract, different workload, or new hire. Because of these factors, it’s important to rent a space for co-working only if you feel comfortable with the flexibility offered to you by the renter. This means knowing the opt-out language of your co-working agreement and understanding how frequently you can revisit the terms. In some extreme cases, you may want a co-working space for only a few weeks, in which case you need to telegraph this to your renter. Flexibility in your contract is the first and most important step to entering a good co-working arrangement.
Most locations that offer co-working provide space for multiple businesses. While you might not always communicate with those other companies, it helps to compare your business principles with those of the building to make sure that they are a good fit. If you get placed between two companies that don’t share the same business ethics that you have, that might lead to a major culture problem within your own organization. Remember that most employees will have at least some contact with other companies that share a similar co-working arrangement, so a little detective work now can help you in the future. You don’t want a poor culture match to slow down efficiency within your own company.
Access to Amenities
A co-working model works because you can save a lot of money through community access to certain items and services, from printers to office housekeeping. That should extend to travel fees and time spent outside the office as well. An ideal co-working space is located within easy access to other businesses that you and your employees will need in order to do a job properly. This could be as simple as making sure that there are some nice eateries nearby, or it could involve knowing which printers and shippers in the area will provide you with the best deal. You know your company’s needs, and it is important to make sure that your co-working space provides easy access to business partners that meet those needs.
The Toronto area has a huge variety of co-working options available. When you start to plan out the finer details of your business, make sure to keep the above considerations in mind. Your planning ahead of time can keep your business run smoothly even as things become more difficult and complex.