At Deskie, we’re dedicated to more than just facilitating coworking management - we’re committed to empowering owners and operators to truly excel. Backed by a decade of firsthand experience running our own coworking spaces, the Deskie team understand the nuances of the industry like no other. This drives us to create valuable content like this guide below, sharing our insights and expertise with those passionate about shaping the future of coworking.
With the rapid and aggressive rise of remote work and the "gig economy", coworking spaces have become the go-to hubs for freelancers, startups, and even established companies looking for flexible office solutions. Starting a coworking space can be a rewarding venture, but it requires careful planning and execution. Here’s a crash-course guide to help you navigate the process.
1. Understand the Coworking Landscape
Before jumping in, it’s crucial to understand what makes a coworking space successful.
• Market Demand: Is there a demand for coworking spaces in your chosen location? The easiest way to accomplish this is by studying existing especially coworking spaces. Take careful note of their occupancy rates (how many empty desks/offices they have) as well as the rates they're charging. With a good memory (and a bit of tactical question-planning and careful note-taking), you may be able to ballpark roughly what these spaces are bringing in per month.
• Unique Value Proposition: What will set your space apart? Consider niche markets or specialized services that can differentiate you from competitors - however, it's best to resist the urge to be *too* boutique. It can be tempting to carve out a hyper-focused niche, but the primary goal at the end of the day is to be profitable - and as profitable as possible.
2. Choose the Right Location
Location can make or break your coworking space.
• Accessibility: Ensure it’s easily reachable and has ample parking. City centers/downtowns are great options for coworking spaces.
• Neighborhood Vibe: Align with areas that match your target audience’s preferences. Is it accessible? Is it charming? People pick their coworking location based on such a wide variety of criteria, but we've found that it's more common than not that people want not only a space that is functional and affordable, but that *feels* right. They want to feel like they belong to something. Both interior design as well as community play a significant role in this.
• Space Requirements: Assess the size and layout to accommodate various workspaces, meeting rooms, and communal areas. Deskie data shows that private offices are the easiest to lease (typically in the 100 sqft range at an average of $500/month).
3. Design the Space Thoughtfully
• Functional Layout: Balance between open spaces, private offices, and meeting areas. Consider noise - are your common areas going to interfere with those working in private offices?
• Comfort and Aesthetics: Invest in ergonomic furniture and appealing interior design. This will MAKE OR BREAK your coworking space.
• Amenities: Consider adding a kitchen, lounge areas, phone booths, and event spaces. Every customer has a different idea of what their ideal coworking space should entail — it's best to be able to cover all bases. Be able to offer something to everyone. People want to feel like they're a part of something on the cutting edge - give them something to feel proud of and brag about.
4. Implement Technology Infrastructure
• High-Speed Internet: Non-negotiable for any coworking space. People *will* ask about your speeds. Faster is better. Private office members will often want ethernet access - wifi alone is not enough.
• Access Control Systems: For security and member convenience. These are expensive, but well worth it. Remove the need for pesky key fobs or shared access codes. The ability to offer instant access via a remote door access system is worth its wait in gold. Remove the need for operators to constsntly be on site by making it possible to give access to day pass members (that might otherwsie not be "worth" meeting down at the space to be given a key) or conference room rentals from temporary visitors.
• Booking and Management Software: Streamline operations with software for reservations, billing, and community engagement. Have you heard of Deskie lol
5. Develop Membership Plans
Offer flexible pricing models to cater to different needs.
• Day Passes: For short-term users. $25 is a sweet spot for quick access.
• Monthly Memberships: Dedicated desks or hot-desking options. $150 is a sweet spot here.
• Private Offices: For teams needing privacy. Monthly memberships. Keep it simple.
• Add-On Services: Mail handling, locker rentals.
6. Build a Strong Community
It is not uncommon for people to join coworking spaces primarily for the social component. Find clever ways to encourage your members to interact (like Deskie's social feed).
• Host Events: Workshops, networking events, and seminars to foster connections.
• Community Management: Hire staff who excel at community building.
• Feedback Loops: Regularly seek member input to improve offerings.
7. Market Your Coworking Space
if you build it, they won't come - it takes more than that. Ensure that you have a beautiful (don't skimp on this!) website and a google My Business listing on Day 1. Be accessilbe on social media.
Outdoor/window signage is a very cheap and semi-permanent way to promote your space.
offer referral deals to your members (make it super generous, ilke 50% off their next month if they successfully refer someone to your space).
• Online Presence: Develop a professional website and active social media profiles.
• Local Partnerships: Collaborate with local businesses and organizations.
8. Prepare for Operational Challenges
• Staffing: Hire reliable staff for reception, maintenance, and community management.
• Set Policies: Establish clear guidelines for members to ensure a harmonious environment.
We have provided some value SOPs HERE to help get you started (like how to give a tour, and how to handle cleaning).
• Continuous Improvement: Stay adaptable and be ready to evolve based on member needs and market trends.
Final Thoughts
Final notes:
1) do not leave money on the table. It is not greedy to charge for things. Coworking profit is made up of several dozen much smaller charges. Every opportunity is worth exploring.
2) be available! Do not lose customers because you won't answer your phone on a saturday or after work hours. Mitigate this by employing a tool like Deksie that allows yoru coworking space to run even when you're not running it (like scheduling tours, booking resources 24/7, etc)
3) be kind, be friendly. If you can't be kind or be friendly, make sure you hire someone who can. Potential customers will explore your space (and other spaces) in favor of larger more established coworking spaces due to the sterile and unwelcoming feel of the "big box coworking spaces". Satisfy their needs by being very friendly, very welcoming. Emphasize that your space is functional, not just aesthetic.
4) Be very receptive to (and actively solicit) feedback. Chances are if someone suggests something to improve the space, several people have quielty had the same thought before.
Starting a coworking space is more than just providing a desk and Wi-Fi. It’s about creating a vibrant community where professionals can thrive. By carefully planning and focusing on the needs of your members, you can build a successful coworking space that stands out in the market.
