Pros and cons

3 things to consider before investing in coworking space for your company

Sharing common space or having a glass-wall office might not be ideal for your company. Getty Images

While coworking is an established trend in many of the nation's larger metropolitan areas, the innovative approach to office space has been slower to gain momentum in Houston from a tenant's perspective, making up less than 1 percent of the city's total inventory of office space.

Coworking has tended to appeal to startups and one- or two-person consulting firms and is currently available in Houston in various forms and price points. Nationally branded WeWork and Techspace offer an amenity-rich and more expensive option geared toward corporate clients, while other coworking providers, like Station Houston and The Cannon, have targeted tenants seeking connections to investors and mentors.

Coworking options can now be found in many parts of Houston. Office landlords are even converting portions of their buildings to coworking suites to meet increased demand.

Before you invest in this new type of office space, consider the following aspects that come with coworking space.

1. Flexibility is the key driver
From a user experience point of view, coworking has both advantages and disadvantages. Flexibility and price are the key elements. In contrast to multiyear year lease terms required by traditional landlords, coworking is a shorter commitment. Terms of six to 12 months for fully furnished offices are the norm, but month-to-month leases are also common. Rent is calculated based on a per-person model, compared to the rent-per-square-foot structure of a traditional office or warehouse lease.

For a one-person company or a small team, sharing a kitchen and conference room can be well worth the lower monthly rent expense, ranging between $800 and $2,000 per month. Touch and go memberships are also available at most coworking locations, providing access to the common areas for a typical monthly fee of less than $200, but without the benefits of a private office. However, as companies scale up and grow, the per-person model for rent begins to make less economic sense.

2. Beware of the add-ons
Coworking typically provides shared use of conference rooms with a monthly allocation of time for each tenant. Some offer beer, coffee, and social and networking events, and a few even permit dogs. It is important to read the fine print of the agreements and be prepared to pay additional charges for extra amenities not included in the monthly rent — everything from garage parking to fees for internet, furniture rental, snacks, and kitchen use.

3. Privacy and identity
Sharing a glass-walled team office with coworkers and taking private calls in a shared space is not the right fit for every company. For some firms, their critical objective is a work environment that reflects company brand, culture, or professional image — a feature not necessarily offered with coworking.

However, as Houston has witnessed changing work patterns, commute issues, and the importance of work-life balance, our city has responded and can now offer many more flexible workspace options.

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Julie King is president of NB Realty Partners. She has mentored and provided commercial real estate advice to technology, biotech, and early-stage companies for over 20 years.

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Building Houston

 
 

Boxes by Speak As One keep mental health tools feeling fresh, without overloading the user. Photo courtesy of Speak As One

Mental health apps are so alluring, but once you’ve recorded your two-week streak and things are feeling a little more organized, it can be hard to keep going. It’s hard enough to keep up with journaling and a great bedtime routine, and many lovely self-help tools also lose their effectiveness when the novelty wears off.

A smart company might harness that novelty as its hook — and an easily distracted self-helper won’t fall off the wagon. Like many other companies in the mental health space, Speak As One will work on a subscription model, but this one won’t languish, unused on a credit card statement. The service, which plans to launch during SXSW 2023, delivers boxes of tangible mental health tools, inspiration, games, and even sensory objects that act as a monthly nudge to try something new, and curiosity takes care of the rest.

A sample box included:

  • Stress balls with short inspirational phrases by MindPanda
  • An Emotional First Aid Kit containing advice for situations as they come up, like sleeplessness and feelings of inadequacy
  • Tiny colorful putties at different resistances by Flint Rehab
  • A notebook, and two books: Athlete Mental Health Playbook and 1000 Unique Questions About Me
  • Other small items

It’s more than packing and shipping out a few toys each month. The boxes are curated with help from a licensed therapist, who leaves a personal note along with tips on how to use the items inside and additional resources. There is one type of box right now that aims to “reduce anxiety, increase mindfulness, and promote peace and balance,” but for further customization (for $10 more), the team is working on boxes tailored to first responders, veterans, athletes, and people in “recovery.”

Speak As One emphasizes community stories in its branding outside the delivery box, and uses inspiration from “influencers” (less content creators and more so people who can embody a relatable story) to build the specialty boxes. The company’s YouTube channel shares dozens of interviews with founder Julie Korioth, a former board member for Austin’s SIMS Foundation, a well-respected mental health resource for members of the local music industry.

“With hundreds of millions of people struggling with mental health, and COVID making the issue much worse, society continues to ostracize those who openly discuss mental health issues,” said Korioth in a release. “I founded this company so we can change the way the world sees, discusses, and supports mental health. Our goal is to promote empathy, connectedness, acceptance, and thoughtfulness with an innovative toolkit that caters to specific needs."

In addition to offering a nudge, these boxes could make great care packages for a loved one who is feeling introspective or going through a significant life event. It is possible to buy gift boxes, if presentation is your thing, but it’d be just as easy to repackage a box that comes before the receiver ready to appreciate the items at home.

The cost of one box is manageable at $49.99 (especially considering the retail value of products included, which the sample box far exceed), but for many subscribers this adds up fast. Luckily, there is no pressure to continue a lengthy commitment — subscriptions last between one and six months, so users have plenty of time to reconsider and sit with the items that have already been delivered.“

The goal is to meet our audience at any phase of their mental health journey,” said Korioth. “We’re creating change and a global life-long support system for children and adults dealing with mental health challenges. We simultaneously highlight businesses, the tech community, athletes, and artists doing wonderful work in this space.”

The company plans to partner with corporations to connect with employees and provide boxes to individuals the company chooses, and will turn some content into session albums with sales proceeds dedicated to mental health research.

More information and links to preorder are available at speakasone.com.

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This article originally ran on CultureMap.

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