Picking the PERFECT Co/Working or Shared Office Space for YOUR business.
So you’re looking for an office, huh?
If you’ve never had an office in a coworking space, you may not even know what to look for or what questions to ask. This is hopefully going to be a guide to navigating all the moving pieces that are involved in a coworking space.
I’m going to outline a few things to look for, things to consider, and what to ask before you make a decision. Of course, all businesses are different. Your business has different needs than mine does, so some of these things may be weighted or unimportant depending on your specific needs.
Lastly, I’m going to include examples of how Co/Working Kalamazoo fulfills these needs. If you’re looking at our space, GREAT! I’ve answered some questions ahead of time. However, if you are somewhere else in the country looking at a space, these should offer some valuable examples of what kind of things I’m talking about.
With that being said, Let’s go!
Location, Location, Location:
The foundation of any real estate venture, and coworking spaces are no different. Do you need a rural office that’s quiet and next to your home? Are you an attorney that needs to be near the courthouse? Are you a small business owner that wants to be in the hustle and bustle of downtown? All these things should be considered. But keep in mind…whatever you decide here will affect other components of the space. I.e. amenities, access, partnerships, parking costs, etc. A strategic location can be your springboard to networking opportunities and potential clients OR convenience and accessibility.
Our workspace is nestled in the heart of downtown Kalamazoo, surrounded by countless amenities, restaurants, hotels, luxury apartments, businesses, etc. We are a block from the new courthouse, next door to the Hilton Garden Inn, have a connected parking garage and the newest exciting addition: We are a short walk from where the new arena will be going up.
Amenities Galore:
Most spaces will offer some basics. Coffee, wifi, and a desk are usually included in your membership. Depending on where you’re at, you’ll need to inquire about what amenities are included and which will cost extra. This is where a space can REALLY set itself apart and also where you can accidentally spend a lot of extra money on things you don’t use. It’s important to find a model that fits with what you want. As an example optional amenities might be: Fitness centers, parking, podcast studios, conference rooms, educational opportunities, printing services, vending machines, Mail/shipping services, bike/scooter rentals, discounts for local businesses and MANY more. The MOST important thing for you to know is if these things matter TO YOU or not. The second most important thing for you to know is whether you have to pay for them whether you do or do not use them.
Our workspace is fully equipped with all the amenities you could ever need. High-speed internet, document destruction services, printing facilities, shipping services, mail services, locally roasted coffee, and a comfy reception lounge – all included in the price. However, we also have an exciting partnership with the Hilton Garden Inn and Home2 Suites next door. If you’d like to take advantage of their fitness center (Complete with Pelotons), their indoor pool, and their outdoor patio with fire pits, you can optionally pay a small monthly fee. If not, no worries! Don’t pay for what you don’t use. We want to be able to give you Work/Life options.
Meet Your Future partners (Networking partners, business partners, life partners, who knows!):
The most significant value often lies in the people you'll meet working in a space like this. The most obvious partnership is networking partners. If you network appropriately, you can meet people that will refer business to you since you’re a part of the same community as they are. Some of the members in your space will work in an area that your business may need which could lead to educational partnerships, or even becoming business partners in some way. CoWorking spaces make networking an easy and natural function of your business by providing a variety of other professionals all in one place at one time for a prolonged period of time.
Accountants, attorneys, tech gurus, marketing geniuses, healthcare workers, real estate professionals, mortgage lenders, financial planners, are all current members of our space and MANY more. Nearly every business will need an accountant, a marketer, a tech guy, or a real estate guy at some point. Why wouldn’t you want to have those relationships BEFORE you have to go and shop for one.
Space Flexibility:
We will discuss leases later. This point is specifically about spaces that fit your constantly evolving business needs. Are you a small startup that could grow extremely quickly? Are you a team that has one employee and looking to hire more in the future? Are you only going to be working in an office a couple times per week? You want to have a space that fits your current needs as well as your future needs.
Our coworking space caters to folks who just want to drop in and work for the day with very little commitment. Our Day Office rentals provide the same low risk flexibility for just a few dollars more and they come with a lot more privacy. But where we shine is our 55 private office suites. from 1 work station all the way up to being able to have a handful of people working out of the same office and combining multiple offices to fit your needs. Our space is one of the best places in Kalamazoo to be able to start as small as you want and grow for years to come.
Conference Room Options:
Meeting at coffee shops can be a pain. No one likes yelling over blenders and baristas calling out mispronounced names. Sometimes you just want a classy conference room to bring clients into. Some spaces offer large conference rooms or small huddle rooms. This is certainly an amenity that is MUCH more valuable to some businesses than others. One thing to keep in mind for all the “I’ll just meet with clients in my office” type of people. Your office might be a wreck. You have your backpack, your snacks, your personal items, etc. It’s not always the most convenient thing to have to clean the office 5 minutes before your client gets here. Conference rooms are great. Don’t underestimate them. Just make sure you know whether a certain amount of conference room time comes with your membership or if you pay for it a la carte.
CoWorking Kalamazoo has a large conference room that holds 10 people, has a gorgeous big screen and in ceiling audio. We also have 2 meeting rooms that hold up to 4 people. Both have TVs with HDMI hookups. Our office tenants with monthly memberships get access to any of these rooms up to 15 hours per month included in their membership.
Engagement is Key:
Just because there are people in the same place doesn’t mean that they are engaged. Look for industries that fit what you do. That will insure you find some folks with common interests and experiences to provide fodder for conversation, networking, and potential partnerships. Additionally, look for a space that provides opportunities to come together and network as a large group. (These events can be worth their weight in gold if you do them right.)
Regular networking events, luncheons, and happy hours are our secret sauce for your success. These engagements are the priceless intangibles that can boost your career and potentially introduce you to someone who could single handedly help you get to the next level.
Perks Galore:
It's not just about a desk and a chair. Exclusive access to discounts, gym facilities, or partnerships with local businesses – these perks are the extras that make your investment shine. Different spaces have different perks. This is the “intangible” category. It’s hard to put a price tag on work life balance or just overall happiness.
Flexible Leases:
In the world of commercial real estate, it’s not unusual to be required to sign a 5 year lease and then have to pay to build out your own space. One of the best perks of a shared office space is the option of being able to sign a much shorter lease. That means that if you grow or shrink, if your needs change at ANY time, you’re not on the hook longterm or pushed into a legal battle. This is HUGE. (To be clear, there is NOTHING wrong with signing a long term lease. I’ve signed plenty. However, it just removes some short term flexibility. Again, know what’s important to your business. Usually you can get a better rate with a longer lease term.)
Our offices have month to month and annual lease options. As it currently stands, we request a 7 day notice and you’re free to move to a bigger office, smaller office, or move altogether. We want to empower you to grow at your pace.
Pricing for YOUR situation:
You’re a professional. Dig-in to the pricing. Make sure you understand what DOES come with the membership and what costs extra. Businesses are so different it’s extremely hard to have a one-size-fits-all price. So some places end up overcharging for amenities you won’t use while others almost feel like they are nickel and timing every single thing you use. Understand that it’s rarely malicious. It’s just hard to have something that’s perfect for such a wide variety of businesses.
We're not here to surprise you with hidden costs. Our pricing is simple and inclusive, with no unexpected fees for essentials like internet, electricity, and water. The only things that are optional expenses are things like the fitness center and pool amenities, additional signage, and downtown parking.
Invest in Your Future:
At the end of the day, the price you pay isn't a cost; it's an investment in your professional growth. A coworking space provides a platform for networking, collaboration, and inspiration that you can't put a price on. It's where you'll find the value of innovation, connection, and potential.
So there you have it – a glimpse of what makes a coworking space not just a place to work but an investment in your future. Remember, it's not just about the cost; it's about the value you'll gain. As long as you’re getting more value than the cost you’re sending, you’re getting a GREAT deal! Join us on a tour, we would love to show you in person all the things we’ve covered above. We’d love you have you here, as a part of the Co/Working Kalamazoo Community!