If you are a freelancer, an SME, a startup, an entrepreneur or anyone who works on your own, you might have already had this conflict of working from home vs coworking space a million times. Which is why you are here technically.
Simply put, you won’t get a clear cut objective answer from us, as it is a decision subjective to your working style, business structure and your whole level of comfort.
Anyway, we can help you make the decision by laying out the facts about working from home and coworking- the pros and cons of both.
After further contemplation and observations, you will be able to make a decision by the end of this article. So, let us dive into learning the pros and cons of working from home and coworking spaces.
Let us analyse each of the factors and see how each of the options respond to them
Cost
Anything can be put aside, but not the cost. Being a starter in the field or someone who is trying to build his or her own empire would want to concentrate more on the cost side as it is somewhat crucial.
When working from home, you will not have to pay for the extra rent, and just pay for your home rent, if you have to. At coworking spaces, the membership comes along with a fee that has to be paid on a monthly basis or on the pay as you go mode.
But, on the other side, you would want a very strong IT infrastructure- a good internet connection, power availability etc which might be hard for you to set up in your house, which might be expensive too.
Coworking spaces give you all these for the fee that you pay. They provide printers, scanners, and other amenities without having to pay extra for that.
Winner: It is a win-win situation for both. If you have all the infrastructures at home, then working from home is the option. Otherwise, definitely, coworking space is the winner!
Productivity
Home is the place of distractions and there is nothing left to say in that. You might get caught in the chores, the chit chats of your family, and the responsibilities you might have to take care of being a “family-person”.
Coworking spaces give you the desk of your choice, a routine to follow and a good amount of time to work for your company, and nothing else, the time you will be in the coworking space.
Also, being at home might urge you to slack at times, be at your own pace, which might add comfortability to your work, but not productivity.
Working at coworking spaces will need you to headstart early for work.
Winner: The clear winner for this category is Coworking spaces- yeap! They add to your productivity.
Networking
Like anyone, you would know how important networking is for a budding enterprise. You need connections and know people to pitch in, to get more leads and to publicise your venture.
Nothing like a coworking space can give you access to this. Coworking spaces give you opportunities to meet new people, like-minded entrepreneurs, with whom you can discuss your common issues to get a solution, find new talent for your company, get a client, fix a meeting to pitch in, and many more.
A co working space in Pune arranges product launch parties for the members, inviting different users of the coworking spaces which might give you potential leads.
Yes, these can be done online and hence, from the corner of your bedroom too.
But, meeting new people and getting direct feedback is another level of encouragement for your company. But, if you don’t want these, but limit yourselves to your own space, and if your business allows effective networking over online platforms you can choose work from home.
Winner: Based on the nature of your business, if you need a strong networking background, your best option would be coworking spaces, and if not, work from home.
Privacy
If you are a person who needs to keep things to yourselves and involves less with other people, you would obviously choose to work from home, with the additional perks of having a fridge of free snacks.
Coworking spaces do give you privacy, but not in the common spaces like the porch.
You might not be able to make a loud phone call or take things on your way, but have to follow the etiquettes which make the coworking space more official and work-friendly.
Winner: Work from home- if you you is pyjamas and stick close to your privacy.
Meeting the clients
When you need to meet your clients, you will have to again find an alternative space for the meeting.
sometimes meeting in the cafe would be less professional due to the noise and disturbances around.
Coworking spaces come with the availability of meeting rooms, board rooms, with all the facilities required for the meeting.
Even if you are working from home, coworking space in Bavdhan gives the opportunity for the non-members to use the meeting room on an hourly basis too!
Winner: Either way, you will have to depend on coworking spaces.
Now, facts laid, it is upon you to decide which might suit your business well. You must know which factors to give importance too.
Pros of work from Home
Cost-effective
Comfortable
No commute
Cost and time savings
Cons of work from Home
Distractions
Less professional feel
Meetings are an issue
Less productivity
Pros of Coworking space
Networking
No isolated feel
Meeting rooms
Professional feel and high productivity
Cons of Coworking space
Privacy might be an issue.
Expensive
Being working from home and from coworking spaces, I would recommend giving importance to productivity, networking, and cost later. If you get your business running at full pace with good productivity and networking.