Yes, You Can Grow a Startup in a Coworking Space
As any entrepreneur knows, the “if you build it, they will come” mentality does not refer to business. Growing a startup takes commitment, hard work, and sufficient capital. It also requires a work environment that fosters productivity. Coworking spaces offer the professional atmosphere and convenient amenities needed by businesses to succeed.
Coworking is no longer just for freelancers. Once a startup becomes less of a hobby and more of a solid career path, business owners must find a location where they can start to grow the business. Coworking aims to connect people and the flexibility of office space rentals makes it easy for entrepreneurs to reserve a space for short-term or long-term use.
It’s normal for startups to encounter difficulties at launch, such as poor business planning, lack of talent, and an inability to stand out from competitors. Purchasing a membership to a shared workspace in Atlanta can help kick start a new business and encourage the growth of a mutually beneficial professional network.
A Look at Modern Coworking Spaces
Coworking has evolved since its original inception in 2005. This concept refers to a style of work that involves a shared workplace and independent activity. Unlike a traditional office environment, the professionals within a coworking space are usually not employed by the same organization.
However, these work environments do offer many of the same amenities you’d find in a typical office, such as coffee and traditional desks. In addition, meeting room rentals provide professionals with a private, collaborative workspace where people can come together to share ideas and strategize.
At Roam, we take coworking a step forward by offering a variety of services to meet the needs of growing businesses and busy professionals. Memberships are available on a month-to-month basis and provide access to an open space, shared with others at multiple Atlanta locations. Companies that desire a dedicated office space can rent private offices suitable for teams of up to 20 employees.
Meeting room rentals in Atlanta are also available for both members and local corporate clients. Whether you’re looking to host a large team event, a quarterly kick-off, or an executive meeting, having a private space with all-inclusive amenities makes gathering your team productive and stress-free.
Why Coworking Spaces Make Sense for Startups
Coworking spaces are becoming increasingly popular in many industries and for good reason. Here are some of the reasons why many startups have chosen to grow their business in a coworking space:
1. Cost Effectiveness
One of the most common reasons why new businesses fail is a lack of capital. According to the U.S. Small Business Administration, microbusinesses require at least $3,000 to start, while most home-based franchises have an average startup cost of $2,000 to $5,000.
With high operational costs, most startups do not have the capital needed to buy or rent a traditional storefront or office space. Coworking spaces are an attractive option as entrepreneurs can set up an office environment for a fraction of the cost of buying or leasing their own office.
2. Convenient Amenities
Along with keeping costs low, coworking spaces provide startups with a wide range of useful amenities designed to make their work day productive and comfortable. At Roam, you’ll find a full-service onsite coffee bar with light snacks. The space is also equipped with business-class Wi-Fi, onsite printing, and unlimited access to all Roam workspaces at no additional cost.
There are fully-furnished workspaces for individuals, kept secure with a lockable door. Meeting experiences are kept stress-free as Roam handles setup, catering, technology, and cleanup. Meeting spaces include whiteboard walls for brainstorming, equipment needed for A/V and HD display, and customizable room setup and seating arrangements. Microphones, podiums, and Apple TV are also available upon request.
3. Greater Flexibility
When you buy or rent a traditional office space, you are often locked into a long-term lease contract that may or may not fit the needs of your business as it grows. Coworking spaces are more flexible as they allow businesses to upgrade their surroundings and office space as their business grows.
You could start with a low cost, month-to-month membership to get your business up and running, before upgrading to a private office rental when you have a true need for dedicated office space. With access to all Roam locations throughout Atlanta, you won’t be confined to a single location if it doesn’t work for your business.
4. More Opportunities
Data published by BLS reveals that approximately 20 percent of new businesses fail within the first two years, 45 percent within the first five years, and 65 percent in the first 10 years. Just 25 percent of new businesses will surpass the 15-year mark. As business can be unpredictable, it’s important not to immediately throw your life savings into a plan that may not pan out.
Purchasing a membership at a coworking space allows entrepreneurs to essentially “test the market” to determine if there is a real need or desire for the product or service being offered. Coworking spaces come with lower overhead costs, meaning startups can use this extra cash flow to market and grow their business, increasing the odds that it will ultimately be successful.
5. Improved Culture
Another common reason why startups choose coworking spaces over home environments or local coffee shops is culture. Entrepreneurs who do not yet have the capital needed to rent a traditional office space can office out of a shared workspace where they can work alongside other business-oriented minds.
In addition, coworking spaces are filled with experienced professionals that have a wide range of talents and expertise. A coworking space is a great place to build a professional network and potentially even outsource certain tasks. Professionals can share information, brainstorm ideas, and help one another with their business goals.
Rent a Coworking Space at Roam
Roam in Atlanta offers comprehensive workspace solutions designed to inspire and foster creativity and productivity. With seven locations throughout the Metro Atlanta area, startups have ample opportunities to work and succeed. To learn more about coworking or to schedule a tour, contact Roam today.