Coworking is a broad term that describes shared and flexible office spaces. These can range from hot desks and memberships to communal areas. Coworking spaces have gained popularity among large companies, startups, and freelancers due to the need for flexible and cost-effective workspaces.
London boasts a vibrant and dynamic coworking market. From Soho to Canary Wharf, there are a variety of locations and providers to choose from.
The article explores what a coworking broker is and their role, why businesses choose to use them and how they differ from other brokers. We also break down how coworking brokers can help organisations to secure the right office space.
If you would like a deeper insight into flexible office space brokers, we’ve written articles covering tips for working with a broker and the key reasons to use an office space broker.
What Is a Coworking Broker?
A coworking broker is an expert who specialises in helping businesses and individuals find the best coworking memberships and shared workspace options. Instead of being limited to a single provider, brokers have access to the entire market.
In the UK, coworking brokers primarily focus on desk-based solutions, including hot desks, dedicated desks, and team memberships. However, at FreeOfficeFinder, we cover all types of flexible offices, including coworking, serviced and managed office spaces.
However, the term “coworking broker” is often used more broadly in the U.S., where it commonly refers to any broker that helps companies find flexible office spaces.
Types of Coworking Products
There isn’t a one-size-fits-all solution when it comes to coworking. Brokers help to guide companies through the variety of options available, including:
• Hot Desks – First-come, first-served seating in a shared, communal space. This option is perfect for freelancers, contractors or part-time users seeking flexibility.
• Dedicated Desks – A reserved desk within a shared office space, often with storage. This is ideal for those who value consistency and are regular users.
• Team Memberships – A solution often suited to startups and SME’s consisting of grouped desks and pods, allowing teams to sit and work together.
• Day Passes/Part-Time Memberships – This solution provides on-demand access for hybrid teams and remote workers who only require office space occasionally.
In our experience, the right choice depends on several factors, including team size, budget, and work style.
Challenges Businesses Face and How Coworking Brokers Can Help
Finding the right coworking space isn’t always straightforward. Here are some common challenges that companies may face, along with the ways brokers can help mitigate them.
Too Many Options
There are a wide range of coworking providers, particularly in London, which can be overwhelming when trying to choose a shared workspace. Brokers have access to all providers and can help businesses narrow down the options that suit their needs.
Confusing Memberships
Coworking terms can vary and may cause confusion for clients. We can help companies to understand the fine print, ensuring that they avoid hidden costs and know exactly what is included in their membership.
Uncertainty About Scaling Up
Startups may initially require only a small number of desks, but they may need additional ones if they expand rapidly. Without proper guidance, this can be costly and may lead to limited flexibility. Brokers can help businesses manage growth by recommending providers that make it easy to expand.
We’ve placed many small businesses in coworking spaces with only a few desks and helped them transition seamlessly as they grew.
Finding the Right Community for Their Business
Not all coworking spaces will be a good fit for every business, and certain choices may better align with companies in the creative or fintech industries. In contrast, other shared workspaces are better suited to more corporate organisations.
It’s essential to find a space that aligns with your brand's values and culture, and brokers can help you identify the best fit.
Time and Resource Pressures
Researching, shortlisting and arranging viewings can take a considerable amount of time. Brokers like us can help to narrow down your search to a handful of carefully tailored options, ensuring a quicker and smoother process.
Benefits of Using a Coworking Broker in London
Working with a broker offers more than just convenience and solving challenges. Some of these benefits include:
Full Market Coverage
From independent providers to big names, brokers know the full range of options available to you.
Geographic Knowledge
Selecting the right location for your business is essential, and brokers can offer their local expertise to help you make an informed decision.
For example, we know that Shoreditch attracts startups and Soho is ideal for media companies. Mayfair and Canary Wharf suit corporates and those in finance, whereas Old Street is popular with tech-based businesses.
Negotiation
Brokers can help with negotiations from start to finish. We often secure perks like flexible terms, discounts for larger teams and free trial days.
Futureproofing
We can also offer advice on which providers will make it easy to transition into serviced or managed offices when your business is ready for a private office space.
Coworking Brokers vs. Going Direct
Going direct means you only see what a single provider offers, which limits your choices to their pricing, memberships and locations.
However, a coworking broker gives you access to the entire market, allowing you to compare options from multiple providers. We can also provide information about networking opportunities, community feel and the atmosphere of a space.
Clients regularly tell us that this insight is invaluable, as finding a workspace with the right feel and a positive working environment is just as important as the facilities available.
How Coworking Brokers Differ from Serviced Office Brokers
While there is some overlap, coworking brokers and serviced office brokers have different focuses.
Coworking brokers focus on desk memberships, flexible and rolling contracts, shared amenities like breakout spaces or cafes, and community benefits such as networking and social events.
On the other hand, serviced office brokers prioritise private offices, with flexible, longer-term agreements. They focus on traditional amenities, such as meeting rooms and staffed receptions, as well as the support and infrastructure available to support businesses.
At FreeOfficeFinder, we offer both services and can help clients get started with coworking, as well as ensuring a seamless transition into serviced offices in London and across the UK.
Tips for Working with a Coworking Broker
There are several things that you can do to ensure you get the best results when working with a coworking broker, such as:
• Be transparent and upfront about your budget and the amount you can afford to pay per person, per month.
• Inform your broker about your current team size and your expected growth rate.
• Determine your ideal environment and whether you prefer a startup, corporate, creative, or professional setting.
• Ask your broker about trials, day passes, or short-term options before committing to a membership.
• Plan for the future and consider whether you may want to transition into a private office or a serviced or managed workspace later.
Who Uses Coworking Brokers?
Coworking brokers can assist all businesses; however, they can be particularly helpful for:
• Freelancers seeking flexible workspace options.
• Start-ups or growing businesses that need room to expand
• SMEs that are managing hybrid working.
• Corporate companies that require temporary or project space.
How Are Brokers Paid?
We offer a completely free service for clients and are funded by landlords. Our fees are the same across all providers, allowing us to provide impartial advice that focuses on finding the right space for your business. This is the same for other brokers in the market.
Coworking Broker FAQs
Can coworking brokers help with hot desking enquiries?
Yes, we cover all coworking solutions, from hot desks to enterprise memberships.
What is the main difference between coworking spaces and serviced offices?
Coworking is a membership-driven concept that offers a shared space with a strong emphasis on community. Alternatively, serviced offices offer private, fully equipped spaces on longer-term contracts.
Can a broker assist businesses move into a private space in the future?
Yes, many of our clients have started in coworking and have later decided to rent a serviced office space. We can support the transition and help with negotiations along the way.
How much does a coworking broker cost?
Nothing, our service is free for tenants, and we are paid by providers.
Coworking brokers specialise in matching companies with the right membership and community. They can help businesses navigate fast-paced markets, like London, save time, offer expert knowledge, and ensure organisations secure their space at the best value.
