Coworking Spaces and Their Potential
As the Twin Cities expands, we are constantly seeing new forms of businesses pop up that we are unfamiliar with. This unfamiliarity is something that can really help bolster the unique character of an area and entice more start-ups and business ideas. One such unique business idea that has taken charge is called “Coworking Spaces” which caters to our Twin Cities entrepreneurs and small teams.Â Coworking spaces used to be somewhat rare in the Twin Cities, however now they can be found on a regular basis and seem to be taking more and more spaces. This would naturally beg the question “how are these different from ordinary office spaces?” and what is it they seem to be offering that attract so much positive attention?
The Attraction to Coworking Spaces
Coworking spaces differ from ordinary office spaces, mainly because it is specified to be a space that encompasses multiple people from different businesses and walks of life. For example, the ever present artist culture in the Twin Cities that is rapidly growing from day to day, can use this space as an escape from the seclusion of home offices and coffee shops, providing a more structured and designated place to work, decreasing distractions from other points of life. Entrepreneurs outside of the art field and up coming small business teams find their way to Coworking spaces for the same reasons, and through this collection of professions, a new community is born, bringing an energized atmosphere and conductive conversations. Coworking spaces basically function as a great brainstorming place for those trying to build their professions to the next level. Not only do these spaces provide a great new community, but they also tend to be more affordable than the common office locations, which is always a plus. How the cost works, is based on what you need, for example you may only need one small personal space rather than an entire building, which would naturally result in a dramatic decrease in costs. While the option to rent out the entire building for your business is in fact possible, but not required. There are various membership models that you can choose from, providing a range of options and flexibility, which can range from daily fees to monthly fees, or whether you use a shared desk or dedicated desk.
Does it Really Work?
Due to the rising popularity of Coworking Spaces, there has been a spur of research on the communities involved in these work locations. The results of energy, productivity, and overall satisfaction has shown to be significantly higher than that of the usual office work spaces.Â Not only has productivity increased, but those involved have also felt an increase in job control, sense of community and that their work is more meaningful.
Coworking Spaces may be the upcoming commercial real estate trend that can help a community feel more fulfilled while also increasing the overall attraction to an area. What do you think? Have you interacted with these revamps of work spaces yet?
Give us a call if your interested in knowing more about these spaces, and if they are right for you!
Kontor Realty, We keep you ahead of the curve!
Phone:Â (612) 567-1810
Kontor Realty Group
Give us a call at Kontor Realty, we keep you ahead of the curve so you know when the roller-coaster will drop before everyone else does!
No matter if it’s residential or commercial realty, we can provide you with your property needs in an efficient and effective manner!