If you are seriously considering moving yourself or your company into a coworking space, one of the questions you need to address is:
How much will it cost?
While the answer to that question can vary from city to city (and sometimes within the same city) there are basically three “options” most coworking spaces in Charlotte offer:
Memberships
A coworking membership allows you access to the space and affords you the opportunity to rub elbows and network with the other individuals/companies working there.
As a member, you can choose one of many different “plug-in and work” environments, whether it be a couch, bar, armchair, or community table.
You’ll have to bring your stuff (i.e. computer, documents, notebook, pens, paper, etc) with you each day, unless you want to rent a locker or something of that nature.
Most coworking spaces offer memberships on a month-to-month basis and charge anywhere between $70/m in Asheville, NC to $2000/m in Manhattan.
Like we said, it all depends on the space, brand, amenities, location, and community, but on average, a membership will *typically* run you between $150 – $300 a month.
Dedicated Desks
If you are a software developer and need multiple screens or just don’t want to haul your stuff back and forth every day, a dedicated desk is a nice option most shared office spaces offer.
The beauty of a dedicated desk is that it’s YOURS.
You can keep your coffee mugs, papers, computers, files, and the like on, in, under, and sometimes around your desk (as long as you keep your space somewhat clean and sanitary).
Desks usually come with a free mailbox and member perks such as complimentary legal advice, and discounts with local vendors.
Suggested Reading: 6 Reasons Coworking Spaces are Becoming Popular.
Dedicated Desks can also come with a certain amount of monthly “credits” for beer, wine, food, and libations.
They can run anywhere between $199/m in one market to over $2000/m in another. The average, though, is somewhere between $300/m to $600/m depending again on the space, its brand, amenities, location, and community.
Dedicated Offices
This one is exactly as it sounds.
Dedicated offices can run between 200sq/ft to over 1000sq/ft (or more) in certain coworking spaces. Most dedicated offices come with 3-5 desks (that roll) and chairs and a door that locks.
Some have four solid walls with no windows, while others are wall-to-wall glass overlooking a beautiful skyline.
Offices typically come with all the privileges of a dedicated desk plus swanky amenities such as complimentary concierge services, free beer and wine, and the like.
For an office between 300-500sq/ft you are looking in the neighborhood of $500/m to $3,000/m, and you guessed it, the final price all depends on the space, brand, amenities, location, and community.
However, it’s probably safe to emotionally assume prices will start around $1200/month and go up from there.
Oh, and most dedicated offices come with a six-month lease.
Can I negotiate pricing?
Sometimes. You probably won’t have much luck negotiating a membership, but if an office is sitting empty, you might be able to wheel a deal. But for the most part, coworking spaces are in high-demand and stay between 90 to 95 percent occupied!
Are there any hidden costs? Not really.
However, there are extra things you can buy such as a private locker and “credits” for beer, wine, libations, food, and use of a conference room or recording studio.
Suggested Reading: The Hidden Cost of Leasing a Traditional Office Space vs. Shared Office Space
As someone who has spent a bit of time in coworking environments, I can say that (from my experience) the cost pays for itself in the friendships, contacts, networking, and discounted services you get from other members (who are now your friends).
At The Launch Factory we provide a unique, technology-optimized, Charlotte coworking space that’s ready for business professionals and teams of all shapes and sizes. If you have any questions about our space or would like to schedule a private tour, please contact us here.
