We are well aware of the benefits of Coworking spaces. Working in a coworking space means reduced office costs, networking opportunities, and many more. Coworking space is even more beneficial for startups and small businesses.
Traditional offices come with huge rental fees and leasing costs. These expenditures can be harmful to a startup.
A startup can't pay such huge leasing charges. This is why most startups and small businesses love working at coworking spaces.
You can get all types of office space at a coworking space just by paying a month's rent. The startups do not have to lease an office or pay any security deposit.
The other benefit for startups in a coworking space is the networking opportunities. Networking is very crucial for a business that has just taken off. A startup can get clients, investors, and customers through networking.
Today we will discuss successful online businesses that started their journey in a coworking space.
In Paris, one night, Travis Galenick and Garett Camp couldn't find a taxi. This resulted in the birth of the Uber app. Initially, Uber started in a coworking space in New York named 'The Yard'. Then they continued working at Rocketwork Coworking Space in San Francisco. So now Uber is spread across 80 countries and 133 cities worldwide.
Spotify is very popular among music lovers. They started their journey at a coworking spot named Rocket Space in San Francisco.
Spotify had humble beginnings in a coworking space. Now Spotify has an estimated valuation of $8 billion. This success is proof that coworking spaces can be a germinating ground for successful business ideas.
Instagram is a social media platform created by Mike Krieger and Kevin Systrom. They created this app in just eight weeks in a coworking space. The process of creating Instagram took place in Dogpatch Labs in San Francisco. Facebook has now acquired Instagram for $1 billion.
ZipRecruiter was started in the year 2014 with the motive of connecting job seekers with large companies. ZipRecruiter was started in Coloft, a coworking space in Santa Monica, California. In little time ZipRecruiter raised 63 million dollars and became a successful business.
Many successful businesses started with coworking space, and Ofo is one of them. Ofo began at a coworking space in London.
People can hire a bike through Ofo without worrying about parking or locking. After being launched in 2014, Ofo has started its services in 21 countries.
Wanderfly was established based on the idea of Christy Liu. It was created to make travel more accessible to everyone, based on their budget and interests.
Wanderfly started at Projective Space, a coworking space based in New York. After becoming successful, it was bought by TripAdvisor.
Many successful companies started with coworking space, and one of them is Indiegogo. Indiegogo was started by Danae Ringelmann, Slava Rubin, and Erik Shell in 2008.
It was created in a San Francisco coworking space. They operate in over 200 countries and have raised more than $8 billion in funds.
Ryan Holmes and his team launched HootSuite in 2008. They began their journey at a coworking space in San Francisco. They are still expanding and using coworking spaces all around the world. At present, Hootsuite is valued more than $1 billion.
Contribution of coworking that made these companies a huge success
The examples of successful businesses above show the positive side of coworking spaces. It shows how the resources provided by a coworking space helps in the success of startups.
Coworking spaces are overflowing with numerous opportunities and resources. These resources can help in nurturing business ideas into giant corporations.
We shall look at some contributions of coworking spaces in the growth of the business.
1. Top-notch infrastructure
The infrastructure of a coworking space benefits a startup in various ways. Unlike traditional offices, the interior of a coworking space is very modern and attractive.
Other than that, in a coworking space, you get different spaces as per your requirements. In general, startups have very few members. In this case, renting ample office space is useless.
At coworking spaces, people get the opportunity to choose an office space according to the size of their team. If there are additions to the team, upgrades are available in the future.
2. Economical workspace
The most vital feature of a coworking space is that they are cost-effective. A business would have to rent out an ample office space in a traditional office space even if they are not using it.
This reason often forces startups to use a garage as their office. This is why startups prefer coworking spaces.
The businesses don't have to pay considerable money for leasing or renting an office. The rent in a coworking space gets divided among other companies working there. This is beneficial for a startup or small business.
3. Capability of operating from a prime location
Working at prime locations is very beneficial for startups. However, renting office spaces is very costly. Small businesses cannot afford to rent out large office spaces.
On top of that, renting office space at a prime location is even more expensive. So it only remains a dream for startups to work at prime locations.
They are deprived of opportunities just because of this reason. With the help of coworking spaces, this need of a small business can be fulfilled.
Most coworking spaces are located in prime locations. Besides, renting a coworking space is not as expensive as traditional offices. Thus, small businesses can operate at a prime location without paying any considerable sum of money.
4. Improved productivity
Generally, startups choose to work at home or in garages to save rental costs. This benefits up to a limit. After a point, working from home or garages limits productivity. Firstly a coworking space is available at meager costs.
Secondly, a shared office space helps in boosting productivity. Working alongside other small businesses motivates you to work harder. A work-from-home setup only leads to distractions and limits productivity.
Working in close contact with motivated entrepreneurs can help in gathering new perspectives. Startups choose coworking spaces to boost their productivity and confidence.
5. Community Network
One crucial reason companies choose a coworking space is networking opportunities. Everyone is aware of the power of networking and how it can benefit businesses. In a coworking space, people from various backgrounds work alongside each other.
Most of the time, startups get potential clients and investors from a coworking space. This helps in the further growth of small businesses.
These types of networking opportunities are not available in traditional office spaces. This is why startups love working in coworking spaces. Through networking, they can build connections with the right people.
The coworking space market is huge and will grow more in years to come. It is easy to find coworking space in Ahmedabad. The city of Ahmedabad is home to many top coworking spaces.
One of the best coworking spaces in Ahmedabad is Uncubate. Uncubate is not only the best in Ahmedabad but all over India. Many startups have started their journey in Uncubate.
Uncubate has a lot of facilities to offer for small businesses and startups. They offer facilities like unlimited wifi, housekeeping, and a pantry area.
Other than that, they conduct gigs and events, which aids in networking. The plans offered by them are pretty flexible and cost-effective.
Their plans include dedicated desks and cabin spaces. Their plans are perfect for all sizes of businesses. You can Book your space by reaching out to us and we can show all the things in person as well.