Coworking Spaces vs Private Offices

Few months ago, in March 2019, we started setting up the new Hubble Vietnam office in Ho Chi Minh City (HCMC). Since I already enjoyed the atmosphere of the coworking spaces from previous companies, at that time, I was just thinking like:

Well, I just need to book a free tour of top coworking spaces in HCMC and make a decision after that. Kinda easy task 🤔.

However, things are not just easy like that. While setting up the new office, you need to consider for better scale in the near future. Let take a look on the comparison between Coworking Spaces and Private Offices

Coworking Spaces

The Advantages of Coworking Spaces

Definitely coworking spaces do have many advantages that make them a great option for who want to get out of tradition offices.

• Flexibility: If you aren’t looking for long term (multi-year) contract, coworking spaces is the good deal for you. They offer plenty of membership flexibility. You have ability to upgrade your membership (and your space) if your team need more room.
• Affordability: One of the most advantages of coworking spaces offer is their affordability. Freelancers or small teams can find the space that fit their budget without time consuming.
• Networking and Community: Working remotely can make you feel alone. And coworking spaces come with a community of their like-minded freelancers, entrepreneurs, remote workers and startups. Furthermore, there are also a lot of networking opportunities to be had in coworking spaces.
• Utilities: Free coffees, teas, water, gym membership are always available in the coworking spaces.

The Disadvantages of Coworking Spaces

Beside a lot of perks, there are some downsides depending on your team’s needs.

• Lack of Privacy: this is the biggest deal breaker. You may have less privacy than you would be afforded in a traditional office. If you need to take a lot of work calls during the day, make sure the membership options offer the phone booths or nooks for private conversations.
• Competition under the same roof: By general shopping around for an environment suitable for your working type, you may run into people you’re competing against for business. However it could turn out a perk, if your goals are like-minded and maybe collaboration is more beneficial for you. But somehow you aren’t interested in working together, there could be some uncomfortable moments.
• Distractions: a coworking space can provide a lot of potential distractions that come from working in close quarters with others. And while working in a fairly open environment like a coworking space, you have to be considerate of your office-mates: no longer phone calls in open areas.

Private Offices

The Advantages of Private Offices

Traditional offices still have their advantages for some teams too, there are few things you may consider when comparing them to coworking spaces.

• Size: if you have a larger team or your team is a rapidly fast growing team, traditional office might be a better deal for you. Many coworking spaces just don’t have the capacity to accommodate private offices for sizable teams.
• Stability: private offices are also good options if you know you’ll be there for the foreseeable future. Providing the stable environment in which they can do their best in work is important.
• Privacy: by renting the private office, you guarantee extra privacy, and depend on your working style, this will make a huge difference in your productivity.
• Customization: owning private office allow you to fully customize your designs, decoration to fit with your culture and spirit.

The Disadvantages for Private Offices

Beside the advantages, private offices also do come with some downsides.

• Lack of Flexibility: renting private office requires you to sign multi-year contract. It can be difficult to leave if you need to leave for whatever reason.
• Expensive: It’s not about the renting costs. It’s all about the resources you need, you must invest including office management costs.
• Isolated: that’s the biggest disadvantage. It’s hard to meet folks around when you work on private office.

Takeaway

At the end of the day, there is not a one-size-fits-all solution. Both won’t work for everyone, neither coworking spaces nor private offices. So use checklist and write down what are the important requirements to you and your business to make the best decision.

For us, we are rapidly fast growing team and we want to have fully customization. Also we favor the privacy. That’s why we choose the private office. It’s now located at Charmington La Pointe, 181 Cao Thang St #4-40, Ward 12, District 10, Ho Chi Minh City, Vietnam 700000. If you are near by, feel free to ping us, we would love to have you visit our office 👋.

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