Office Culture in Coworking Spaces: Community vs Corporate
When figuring out a proper business plan for your coworking space, numerous founders are hesitant to choose between different options. Other than business opportunities, this includes deciding what type of shared workspace you are building, the office culture you want and the experience that will retain your members. Here are some useful tips for you to consider before you make the final decision.
Firstly, there are a few ways how shared spaces make money. You should investigate them all, including the primary and secondary revenue sources. This will help you to understand how to make a profit even if your business does not become successful right from the beginning. It is not easy to start a coworking business and earn much revenue if you are unsure of what exactly might bring you money. This is especially important in case your primary income sources do not work.
Profit is not the main motivation for many coworking businesses. The most successful ones are driven by the passion their founders want to share! They usually have a community-centered mindset and are guided by a certain mission. Read these tips to make sure you're fully ready to start a coworking business.
Two Kinds of Coworking Cultures You Can Adopt
Many startups are born and survive because they pursue the goals other than gaining revenue. Their mission comes first, and these startups are usually community-based setups. Office culture is important because a lean team needs to understand each other in order to make things work fast. In this case, a coworking space is usually built to serve the needs of a particular community. Uniting its members under the same roof empowers such communities and makes their members fulfill their great potential.
For instance, The Wing is a community-based setup which is rooted in the women’s club movement. Such movement began in the late 19th century by the women who had a feminist mindset and wanted to support each other and reach independence.
Today, female employees still need support because they often fall victims of sexual harassment at work. This is why female entrepreneurs adore The Wing’s coworking space business model! It was open in 2016 and lets only female members in.
This project received over $40 million from the investors who were interested in supporting the female entrepreneur community. At the moment, The Wing offers women a fancy coworking environment and hosts networking events on a regular basis. Such famous people as Hillary Clinton come here to empower the community of the creative business women.
You will find The Wing spaces in Washington and New York (3 places!). London, Seattle, Chicago, San Francisco, Los Angeles, and Toronto spaces are about to open in the near future.
Read more about new coworking spaces openings here.
If you are interested in starting a co-working business to support the female community, click here to investigate other coworking spaces for women only.
However, if you are not sure which community you would like to serve, you can also try a corporate-based setup.
A corporate-based setup means that space comes first, and the community comes next. In this case, you will be a provider designing your coworking area according to your taste and the market research, of course. It's not that difficult!
There exist wonderful spaces that are based on a unique coworking space business model. The Refinery is one of them. It’s a mission-driven corporate-based setup that provides creative experiences to its members. Its founder, Hayley Swindell, fell victim of the burnout when she was starting her first business alone.
Hayley was working from home and it was not fun for her at all. When she realized that she was facing a severe burnout because she missed the communication with the like-minded people, she decided to create a working area with the standard amenities complemented by the creative options.
Apart from the coffee machines, open-work desk, and free Wi-Fi, you will also find a photography studio, a shared retail shop, and a fulfillment center in The Refinery. Hayley designed this coworking space to boost creativity, and she succeeded.
No matter whether you choose a corporate-based or a community-based setup – if you have a brilliant idea in mind, it will work for you. Just make sure you’ve taken all the details into consideration!