11 Types of Businesses that Can Benefit From Coworking Spaces

There's really no business today that can't benefit from a coworking space. From writers and lawyers to analysts and programmers, shared workspaces help professionals get the office environment, without the high cost of maintaining a brick-and-mortar office of their own.

With more flexible schedules and hybrid work environments, coworking spaces have taken off as people look to maintain a bit of social connection and routine, and there are a number of businesses that can benefit from coworking space environments as a result.

With a more affordable alternative to standard office space and a flexible solution or remote working, a coworking space is beneficial to many businesses. But who can coworking spaces in Chicago benefit most? Let's break it down.

1. Start-Up Companies Who Need Flexible Space Options

At the top of the list of who uses coworking spaces, start-up companies have been some of the early adopters of these coworking spaces.

A startup environment is one that’s just kicking off, requiring a more productive environment that also will cut costs. Let's face it - cost control is especially vital to startups, and leases are one of those hefty expenses that startups may not be able to afford in their early stages. In fact, leasing a commercial space for a whole office is one of the second highest expenditures for a company, after labor.

While startups don't necessarily need to rent a physical location, they do benefit from a coworking environment where they can rent a conference room in a more flexible manner, utilizing the internet and other benefits that these workplaces have to offer. Plus, a coworking environment is much quieter and more professional than meeting at a coffee shop, allowing you to boost productivity in the early stages of your business.

2. Financial Advisors Who Need to Create a Professional Image for the Public

Opting to use coworking spaces for financial advisors has a lot of advantages. By opting for physical office space, financial advisors can show a higher level of commitment to their clients that can be hard to reach with just an online presence.

With a dedicated workspace, financial advisors can provide a sense of security and stability, ultimately building trust and credibility with new and prospective clients. Plus, coworking spaces offer financial advisors a chance to better connect with clients and create a more efficient workflow.

In addition, these office spaces offer several amenities that companies can take advantage of. Of the many benefits, coworking spaces provide additional amenities, such as meeting rooms, gyms, and WiFi that you don't have working remotely.

3. Remote Workers Who Don’t Have Enough Space at Home to Work Comfortably

For those that work remotely from their own home, there are several challenges that arise, not just in terms of space by the square foot, but with a work-life balance too that a more traditional office environment can help mitigate.

At home, there are many distractions that can get in the way of productivity. In addition, there's virtually no social environment in remote work, causing many employees to feel siloed in their workday. However, coworking spaces can help address a number of these issues for remote workers, providing them with shared office spaces that they can go to whenever they prefer, getting a chance to interact in a professional environment and exchange ideas while boosting productivity.

These coworking spaces are more cost-effective for companies with remote workers, opting for a more affordable alternative to commercial leases, as well as a more professional environment than a local coffee shop.

4. Therapists Who Need to Create an Inviting Atmosphere Where Clients Feel Welcome

A therapy coworking space is a great option for these independent professionals.

Renting office space can be a great option for therapists who want to create a professional atmosphere for their clients. Having a dedicated office space can make a big difference in terms of creating an inviting atmosphere that makes clients feel welcome.

With a dedicated space, therapists can ensure that their clients are comfortable and have the privacy they need during sessions. It also allows therapists to create a more consistent and professional experience by having the same office set up each time the client visits.

5. Businesses that Don’t Have the Resources to Build Their Own Office Buildings

Both small businesses and larger businesses alike have seen the benefits of forgoing a traditional office for shared office spaces. For many, this is the perfect alternative when resources are limited to build their own private office.

In light of the pandemic, coworking spaces are perfect for large and small business models. Since many remote workers aren't keen on going into the office every day, a coworking space offers them the flexibility they are looking for, while also limiting many businesses spending on resources and materials to fill their own office with. With a fully furnished, Wi-Fi-ready coworking space, remote workers can get everything they need in a flexible workspace.

6. Entrepreneurs Looking for Short-Term, Low-Commitment Solutions to Their Workspace Needs

Entrepreneurs benefit from coworking spaces, too, especially in the early days of their business. In the early stages of starting a business, the files and work can quickly clutter your space at home, but if you use coworking spaces, you can set up a separate environment for your productivity.

With this model, entrepreneurs can use coworking spaces to focus on their work, enveloping them in professional spaces where they can focus on business growth and new ideas, away from the chaos of home. Plus, coworking spaces come at a lower cost than traditional leases, perfect for small businesses that are just finding their footing and not quite ready to fully commit.

7. Business Owners Who Want to Test Out Different Locations Before Settling on One Permanently

For large and small businesses alike, renting different coworking spaces can be a great way for business owners to test out different locations before settling on one permanently.

Rather than investing in a long-term lease and preparing a space for business, renting a coworking space provides a more flexible and cost-effective alternative. This can be particularly beneficial for small business owners who are looking to grow their business but want to choose a location their remote workers will most benefit from.

Exploring different coworking spaces also allows for more experimentation with different neighborhoods and environments, so that business owners can make the most informed decision possible. Furthermore, it can provide more security in terms of being able to move quickly if necessary.

8. Writers Who Need to Separate Work Life from Home Life

Writers can benefit greatly from renting an office space as it allows them to separate their work life from their home life.

By opting for coworking spaces, writers and freelancers alike can get out of their own space and into a more professional environment, allowing them to achieve increased productivity in a more professional setting. With this more professional social environment, writers can boost their creativity and focus, taking their careers to the next level while exploring a new network of professionals.

Coworking offices additionally allow for more collaboration among professionals. While writers are often the type of freelancers that are more siloed and solo in their work, working in a space with other professionals and workers can provide a sense of connection important to all workers today.

9. Lawyers Seeking a Professional Atmosphere for Client Meetings

A coworking space for lawyers is a great option for these workers, providing a professional space for their work.

For lawyers that want a sophisticated atmosphere for their clients, coworking spaces offer all the amenities of an office with none of the overhead costs. As more and more law firms downsize due to economic constraints, a coworking space can provide a great cost-effective solution for conducting client meetings and collaborating with other like-minded professionals in the legal field.

A coworking space also provides lawyers with access to cutting-edge technology resources, meeting areas, business centers, and break rooms. All these professional amenities make coworking an attractive option for any lawyer looking to benefit from a professional atmosphere and work in collaboration with other professionals in their field.

10. Students Who Need a Quiet Space to Focus on Projects and Studying

Students are another group that benefits from a coworking space. While students most certainly aren't ready to invest in their own office space, they do benefit from coworking spaces as it helps with increased productivity, as well as collaboration with other professionals. This is a great opportunity for students to interact with those from different industries, allowing them to connect and learn in a more professional space.

11. Freelancers Who Need Networking Opportunities to Find New Clients

Since freelancers work with many different clients and businesses, they require more structure and planning to achieve success. For this reason, a coworking space can be the perfect backdrop for them to achieve a more professional workday, accessing technology, meeting rooms, and other benefits while also interacting in a more social environment that they wouldn't otherwise get on their own.

Find a Perfect Coworking Space for a Wide Range of Businesses at 620 N LaSalle

So, still wondering "is coworking right for my business?". Whether you're involved in startups or running a business with employees that want to network in the office, nearly every industry can benefit from access to coworking spaces.

At 620 N LaSalle, we offer a range of coworking environments for businesses of all types, allowing you to work in the heart of the city. To learn more, contact us today.