Thinking of Starting A Coworking Space Business?
You just recently found out your friend no longer works from his house, he just improved his ratings, he has become faster and is making more from his online jobs as a freelancer. You are wondering how is this possible? He later opens up to you that he signed up to a co-working space and is less distracted than when he is doing his job at home. You decide for yourself to pay a visit to the space, you are amazed at how nicely sophisticated the co-working space looks.
Your friend jokes that you can start one of your own and you cannot stop thinking about the idea. How do you venture into a co-working space business?
All co-working spaces provide something different so…
You are wondering what people you saw in that co-working space. Your friend will tell you anyone can subscribe to a co-working space. Just to be specific, you can choose to target freelancers, online marketers, contractors, remote workers, entrepreneurs and start-ups. Device messages on how your space can meet their needs.
Starting this means could be meaning that you are going to be there as it starts. You are the co-working space manager and you need the right behaviour for the growth of this business. You have to portray people skills and motivating to the people in the spaces. Remember you are creating a community whereby people are working towards achieving certain goals. Encouraging them, supporting them and connecting them is the best gift you can offer to your customers.
A normal co-working space day
You probably know what a co-working space business day looks like. Make sure space is clean, have the lights in the right conditions, have the internet up and running, ensure the ventilation is working and assess the safety of the room before use. In a case there will be an event in a given conference room ensure it will not affect your clients, inform them in time so they know what to expect. These hacks will make your day easy.
What makes money for you in co-working?
Basically, you are offering space, the main source of money will be subscriptions. The best way is to have premiums could which could be, daily subscriptions, weekly or monthly subscriptions. Set aside space for those with longtime subscriptions to avoid losing their place because the next day is having more customers than the previous day. You do not want to lose customers because of such a situation.
You can also make money through renting the conference and meeting rooms, offering motivational classes and hosting events.
Can a coworking space business grow?
The potential of any business growth is there. For this business, there is a potential. Visit as many businesses of this kind as you can and learn about their models, their services, build upon their loopholes and work on making your services better.
This is not enough; people need to know about your business. Work on getting selling messages about your business out to the public. Create posters, social media groups, communities, pages and circles, circulate flyers, do some advertising, do affiliate programs by awarding your customers to bring more people. This path will lead you to success with just a little passion and energy.