10/25/2018

How will your space be like?

This is the second installment of ‘Starting A Coworking Business’—we have four in total! Click here for parts onethree, and four.

How do you envision your space to be?

When thinking of coworking space features, the sky may be your only limit in the creative sense, with one caveat: never forget the community as its lifeblood and main driving force behind it. Your customers are going to be the alpha and omega of any coworking business model you can think of, while everything in between rests solely on your creativity.

Still, if you are to reap the best rewards out of running a space of this type, try to think of its design as a means to promote customer interaction and streamline the flow of creative juices between them. This means that, while important, aesthetic considerations should not have primacy over ensuring the movement and easy accessibility across the entire facility. You do not want your customers to feel either crammed in a crowded space or isolated – balance is the name of the game here.

Once you ensure easy movement and equally unobstructed flow of ideas, you can work on establishing the unique visual identity of your workspace. You’d be surprised to learn how a strategically placed picture or a plant can change the perception of the workspace not just as a “place for work”, but as a location one enjoys spending time in. When envisioning this segment, do not forget to promote the culture of decorating one’s own working space by the customers themselves.

Striking the balance between aesthetics and unobstructed flow of movement and ideas in a workspace is a key consideration

Offering and price point  

Coworking spaces offer a more affordable pricing model for many customers because sharing of services and optimized usage of available space are generally more desirable financial alternatives than buying or renting “proper” office space. Yet, making sure your offering forms a dynamic duo with its price point is not an easy task, because you want to cater both to digital nomads and high-end clients, right? Yet, while the margins can be low in this business, there are smart ways to hit the pricing sweet spot here.

Finding the right pricing model means making your membership plans offer as many options as possible to provide for all client profiles. You’ll have to take into consideration the average prices in your immediate surroundings as well as your competitors’ offerings. These plans can be fixed, based on the time interval (weekly, daily, annual) or flexible. Each of these models should be studied for its profitability while accounting for potential season-based variations (holidays, summertime etc.). Whatever pricing model you decide on, the membership plans need to account for at least for two broad groups: pricing for startups, nomads and freelancers as one group, and the one for corporate entities and companies as the other.

Possible target groups

You may think that freelancers and nomads are the meat & potato of your customer pool, but they are usually choosing your coworking space as an option that will not ultimately rob them of their hard-earned money. Still, offering access to high-quality services can help you attract and retain high-paying customers just as well.

Tech companies are always on the lookout for so-called satellite offices that can provide semi-permanent accommodation for their product team members. To make good use of this, you need to expand your offer with additional services such as the provision of sleeping accommodation, tours of the city and stuff such as access to the spa, massage parlors, high-end restaurants which are either located in your coworking space or its vicinity.

Your workspace will have to cater to all types of clients, lifestyles and needs Source

Differentiation points from close competitors

Everybody loves free stuff, and you can freely include options such as free fitness classes or unlimited color printing as a means to stand out among your direct competitors. While offering the lowest desk rates and the fastest Wi-Fi may help you stand tall in your area, you’ll have to follow up on this strategy with other differentiation points to maintain your advantage in the long run.

One of the ways to achieve this is to go beyond the general expectation that your workspace is used for, well, only work. Hosting community-based events will get you ahead of the competition if you approach them in a smart way. You can organize movie nights or offer cheap beers on particular days, helping you reach out to the audience which is not the focus of your immediate customer targeting efforts. You might as well organize trips and excursions (such as hiking) in order to have your members get to know each other better in a less formal manner.

Not all of these activities have to be fun & games. Provided that you build quality rapport with your community members, you can have them organize free panels, courses or workshops in their fields of expertise in exchange for mutually beneficial promotion.

box

3. Benefits of Tagging Others

Social data also describes the interaction between social media users. While comments, likes, and shares are the most obvious forms of interaction on social media, tags are another form of communication between social media users. 

Tagging is one of the most effective tips for coworking on social media. When it comes to promoting your coworking space, tags do an amazing job at increasing your visibility. On Facebook, for instance, your post will have more reaches if you tag others:

Image credit: CENTRL Office

If you often organize events at your coworking space, you can tag the participants. If you have some special offers, tag someone who helps you promote them. Any tag conveys social data, as it transfers information from one user to another. It’s a great way to become more visible online and attract potential clients. 

In Conclusion

Like any other big data, social data has limitations, as not every social media user shares information. Nevertheless, social data is still very effective for marketing purposes, as it can help your coworking space become more recognizable. 

Using the above-mentioned social data techniques together will help you increase visibility, as they will help others find your coworking space more easily. In general, these techniques are aimed at targeting large numbers of people and help them easily navigate the space of social media to find the best coworking spaces. 

Platform

Location

Croissant

International

Included.co

International

Hubble

London

Coworker

International

Instant Offices

International

Pickspace

International

Share Desk

International

Happy Desk

International

DesksNear.me

International

DeskTime

International

Coworking London

London

Desk Pass

International

Copass

International

Coworking Wiki

International

Desk Surfing

International

Near Desk

US

Liquid Space

International

GoCoWo

International

Find Workspaces

US

Sneed

India

Ofixu

International

Meetings Booker

International

Qdesq

India

eWorky

International

Share your office

US

Spacelist

US and Canada

42 Floors

US

Office List

US and Canada

Coffices

International

Breather

US, Canada, Europe

Setting

Berlin

Key to Office

International

Peerspace

US and Europe

Bizly

US

Spacewhiz

India

Beewake

US and Europe

Awfis

India

Allofficecenters

Germany

Splacer

US

Lexc

International

Desk Camping

International

Worksnug

International

Seats 2 Meet

US

Coworking.Coffee

International

Commercial Cafe

US

Preferred Office Network

US

Heydesk

International

Office Freedom

International

Flexas

International

The Yard Coworking

Save your community manager 41 hours each week—learn how The Yard did it with cloud-based access control.

Read the Case Study

Most Viewed

Technology as a Catalyst
Alberto Di Risio
Thriving In Smaller Markets
Junel Seet
Access Control vs Smart Locks
Alberto Di Risio
Offering More Value
Junel Seet
Protecting Network Security
Junel Seet
5d08ec2b95e837d532819564
template-6
section

Get expert advice on setting up and scaling your space

Free access to our best guides, industry insights and more.

Download Center
Planning