I’m not going to talk about WeWork’s CEO, valuations, the botched IPO, or how SoftBank spent billions of dollars to buy 20 grams of peanuts. Irrespective of the financial issues, WeWork has built a global co-working empire in just a few short years. Another company that has been in the same business for over two decades is IWG Plc aka Regus. In this WeWork vs Regus comparison, let’s check out which is a better co-working space provider for small businesses, startups, and freelancers.
Both WeWork and Regus provide office space, equipment, conference rooms, and other perks so you and your team members can focus on work. Companies large and small have used Regus and WeWork locations as their regional or primary offices.
WeWork vs Regus: Locations
Both WeWork and Regus are rapidly expanding their presence worldwide. They both lease only high-end properties in premium locations. Regus was founded in 1989. Over the last three decades, it has expanded to about 3,500 locations in 120 countries. If you are a Regus member, you can use their locations locally as well as abroad.
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WeWork has been around for less than a decade. But it already has office spaces in more than 650 locations in 37 countries. It has a strong presence in North America, Europe, China, Israel, India, Japan, and Brazil. WeWork is also in the process of opening about 200 new co-working spaces worldwide. In terms of locations, Regus is about five times bigger than WeWork.
They both operate high-end office spaces with premium interiors. If you’ve signed up for the hot desk, you’ll get access to the open workspace in the common area. It works on the first-come, first-serve basis. Just pick any of the available hot desks in the common area, and start working.
Both Regus and WeWork also provide a dedicated desk with all the benefits of a full-time office including mail and package-handling. Then there are private offices for individuals as well as teams. Both of them have virtual offices, conference rooms, kitchen, and free refreshments.
Both companies organize networking and social events, giving you plenty of opportunities to interact with others.
The feel and vibe
A big difference between the two is that WeWork has a more casual, relaxed, and community-driven environment while Regus has a more formal, privacy-focused vibe. At WeWork locations, you’ll see glass walls all around. If you are concerned about privacy, WeWork is not the place for you. The company does give you the option to sandblast at eye level, but that’s not good enough for privacy-conscious people.
WeWork’s community-focused approach works well with millennials and start-ups. That’s why you’ll see a lot of startups, freelancers, and small businesses there. WeWork promotes collaboration between tenant companies. It’s a fun and casual place where people come to work. WeWork also partners with nearby restaurants and gyms to offer their tenants exclusive discounts.
Regus has a professional, privacy-focused, and utilitarian environment. They give you all the things you’d expect in a normal office including a water cooler, coffee maker, and a shared executive assistant. The whole setup makes you feel like you work for a big company. But the experience is not as community-driven as WeWork. Regus has a relatively larger number of established businesses than freelancers and startups.
WeWork vs Regus: Pricing
Prices vary greatly depending on the locality, city, and country. WeWork is more transparent with its pricing. The prices could be different for different locations in the same city. WeWork at 511 West 25th St in Manhattan, New York charges $560 per month for a hot desk, $650/month for the dedicated desk, and $1,060/month for a private office. These prices are for a single person. If you have a team of three, the same location charges $2,800/month.
Regus doesn’t reveal the pricing on its website or any other marketplace website. You have to contact them over the phone or visit one of their locations to get the pricing details. Whether you want a hot desk, a dedicated desk or a private offices, prices at Regus tend to be 10-15% lower than WeWork in a similar locality.
Both Regus and WeWork are fantastic co-working office space providers. If you are a freelancer or a startup and you prefer a casual environment, WeWork could be a better choice for you. Regus is available in more locations, is a little less expensive, and has a more professional vibe. It’s a good place for serious businesses.