How is a Plug n’ Play Office different from a Coworking Space?
A typical Plug n’ Play office is a virtual office that offers data networking and telephone system equipment that is installed and ready to use. At such spaces, a leaseholder will design his own telecommunications and networking system and then manage it.
On a Coworking Hub, individuals work either alone or as a team in shared office space. The user is either self-employed or a freelancer.
These days there is no such thing as a perfect working place. The requirements change with the scope of business. The old model of office spaces is not for all, and not something that everyone can afford. We all know that whilst an office gives you opportunities for networking, it may not allow you to work peacefully and quietly. Then, there are those spaces, where you get to work alone, but the opportunity to develop business relations go out of the window.
The most popular kind of office spaces in Bangalore today is the plug and play offices and coworking spaces. On a plug and play office, you either work alone or as a team. You can move in any time and just as easy as that. If you are looking to build an app or technology, then this is the best option for you. If your business is service oriented and needs to form a network, then coworking space is more suitable as there are other tenants in the space. Through this article, we help you understand the key difference of each and help you find the right one for your business.
The main Difference
The main difference between the two is that, when a plug n’ pay office is charged per the square meter, the coworking space is charged per the number of employees. It is not easy to say which costs more as the rates vary from location, facilities, and the space provided.
All about Priorities
Plug n’ Pay offices are usually chosen by SMEs and well-established businesses who are happy with where their business is heading. They are for those who are looking to maintain their business efficiently rather than make changes to it.
A startup should usually choose a coworking space. This is because you are not sure whether your business is going to be a success or not. This is when you shouldn’t invest heavily on infrastructure or other resources. A coworking space will provide you most of that which you need in a cost-efficient manner. One added advantage is that a coworking space has several tenants whose business range from startups to MNCs. The experience these people have can be enormous, which will help you to form new relations or get timely advice.
Future Plans for Expansion
Any startup that is witnessing a growth should go for a coworking space. When you are a newbie, your potential client may have some trust issues. A reputed company always wants to be sure that you are able to pull off the job. Where you work is important to them. The ambiance and facilities that a coworking space has does make an impression on them. It also helps when you need to expand your team for a particular project. You can hire as many freelancers as you can in a coworking space.
A play n’ plug space is better suited if you are looking to take things steadily for a couple of years or so. This way, you always know how much money comes into your company and how much you spend from it.
Your Company Strength
When your team is small, you don’t want to spend too much on infrastructure. Working from a small space will also ensure better communication. Plug n’ Play gives you the option of customizing your space and you only need to pay for what you need.
When your team is somewhat large, packing them in a small space will not be the wise thing to do. They would like a bit of privacy and personal space. There is also a matter of hierarchy. Coworking space allows such classification and makes you work a bit more freely.
Worth the Money
Coworking Spaces can be more expensive than play n’ plug spaces. It is all about priorities and what kind of business you run. If you feel that there is a lot to learn from other coworking professionals and need to increase your networking, then it is worth all the money that you pay for.
There are so many MNCs working in a coworking space. The fact that several big companies also take up coworking space gives you hope that you too can be running a business beside them.
We hope this article helps you choose wisely. At the end of the day, the decision lies in where you want to take your business.