The idea of coworking, a shared space where people can work, has been around for a long time. However, it flourished with the growing popularity of remote vacancies that came into our lives due to the coronavirus pandemic.
Later, instead of necessity, remote work became common practice. The main problem that arose due to work at home was the constant stay in apartments and houses, but the solution was found quickly in the form of active use of coworking spaces. There will be 41,975 coworking spaces throughout the world by the end of 2024, according to predictions. A coworking space is an innovative working environment in which different firms may share space and collaborate.
Although the concept of sharing the common space in which you have your workplace sounds simple, it can look and function very differently depending on the part of the world we are talking about. We will look at how European coworking differs from American ones.
A common concept – a different space
Let’s start with the differences in the organization of space in coworking San Francisco in different parts of the world. American options do not always support the concept of fully open space. They mainly offer a combination of large work areas and closed separate offices. This organization of space allows you to hold more than 1 event at a time and also allows you to maintain privacy while working.
In Europe, coworking centers still prefer fully open spaces with established workplaces. Thus, the space can be used for larger events, but not more than one at a time. With coworking becoming increasingly popular, there has been a slew of company deals for coworking spaces in major European cities.
In order to provide other services, the workplace has been redesigned to become more community-based. To meet a variety of contemporary possibilities, real estate strategies must be flexible. That’s why EU coworking places prefer big open spaces.
Different principles of profitability
The coworking business is considered very profitable and is constantly growing. The worldwide market for coworking spaces is anticipated to increase several times by 2030, from its current value of approximately $7 billion in 2021. However, the European and American income systems are very different.
The European spaces are slower to break even financially because they operate at maximum capacity more frequently. In contrast, in the United States, every second coworking space works only within recurrent net income. Even though the average age is similar (18 to 16 months), only 30% of EU coworking places do so. Refinancing is considerably faster for all spaces when compared to other startups.
The less space you have, the more difficult it is to make a profit. That’s why European coworking businesses are growing at almost the same rate as their more profitable North American competitors. This year, nearly two-thirds of coworking places in both parts of the world will grow. This often occurs close to the workspace in the EU. Expansion plans in the US frequently take the form of a new far-flung place.
A different vision of the process
The difference is easy to find in the organization of work. Despite their desire to work in open spaces, Europeans do not have the goal of being part of a community of other coworkers. So don’t expect to be able to easily find friends or the new employee for your team.
Americans, and the owners of American coworking spaces, often aim for effective interaction between members of their space. Because of this approach, you can expect to find some interactions with other clients in the United States. This also includes looking for employees.
Europeans have to rely on more contemporary methods for doing this. You can check a couple of other options that are helpful when you aim to find the right person for your team. No matter if you are looking for essay writers for hire or want to find the best project manager – coworking is not the only way. If you work in Europe and your coworking colleagues are not about cooperation – simply check some articles and platforms for hire.
Not without common features, of course!
Owners of coworking spaces on different sides of the Atlantic can look at different ways of doing business and differentiation areas. However, there is one thing that unites many of such businesses all around the world.
More and more co-working companies are choosing a reliable way to automate and facilitate the process of cooperation with customers. This can be achieved through the effective use of coworking space software. This option of digitalization of business allows you to manage your space not only by rearranging chairs at the end of the working day.
Customers can quickly and easily reserve a place or part of the space for their needs using coworking space software. In addition to improved customer engagement, the use of technology in doing business allows you to attract more people, increase profits and grow effectively.
How to choose the right coworking space?
Despite a number of differences that we have described in this article, coworking in different parts of the world work with one goal – to provide a comfortable space for employees and companies.
Whether you are in America or in Europe, it is possible to find the right coworking space just for you. This requires:
- Determine what is most important to you in the coworking space
- Find information on some of the main options
- Compare prices and terms of cooperation
- Try to work in several different spaces and choose the best option
- Don’t forget about the possibility of online booking
Final thoughts
So that the described differences do not spoil your impression of the coworking system, you need to take the maximum from each of them. Knowing the difference in work depending on the geographical location, you can easily determine your priorities and make the right choice.
So, whether you are in the EU or the US, some of the mentioned differences will not prevent you from getting the best experience in coworking spaces.