Sun. Aug 18th, 2019

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Detailed definition of coworking

2 min read

Coworking is a business model which provides working space for small entrepreneurs, freelancers and small organizations etc. Most of them use desk space to rent London because they provide themselves with office working environment which they cannot afford if they work individually, also coworking space providers make sure that they don’t exceed with certain number of members.

The word coworking was first used by Bernie DeKoven in 1995 and the first ever coworking space was opened in San Francisco in 2005.

The facilities which coworking space London provides includes a proper cabin or desk space for work, 24/7 access to the office area, conference room and board rooms, printers, photocopy machine etc. They also provide kitchen, bathrooms and lounges for comfortability.

Like any other company coworking space also follows various business models like non profit based, rent based or fee structure based models.

Describing all of these types below:

Non-profit Based Model

In non profit based model the space provider charge a very minimal amount just to fulfill its expenses because their motive is not to earn profit from you, but they just want to provide you with services. There are very few non profit coworking spaces.

Rent based Model

In rent based model they can charge you monthly rent or weekly rent upto your requirements, some of them also charge by hourly based method. The amount of rent depends on which region of the world you are living in, like for example you will get coworking space London in £150 per desk space per month. This gets pretty expensive if you are living in an expensive city like London, Newyork, Paris etc.

Fee Structure method

In fee structure based method they ask what facilities you need and according to that they will arrange a monthly fee that you will have to pay. The fee amount of this also vary on which region you are living and what type of facilities are your requirement. In this structure based method the consumer have to pay for every facility which it uses and it might get expensive sometimes.

A term used by Bernie DeKoven and explained by Brad Neuberg has now turned into something completely different proving to be extremely helpful for people all around the world struggling for shared spaces.