One of the most valuable resources to entrepreneurs in recent years have been co-working spaces. The general idea of co-working space is multiple people working on different projects share a single space.
They can also be used for networking, collaborating on projects, and meetings.
They are ideal for freelancers, contractors, and small business owners that don’t have an office space of their own but wish to use the facilities that an office might have.
If you are considering starting at your own co-working space, here are just a few things you need to consider.
You have to decide if the location you want to have your working space will benefit the community. After some research, if you find you do not have a significant interest in a larger working space, it is possible to downsize your idea. Take some time to consider providing a smaller, more niche co-working space for your target population.
In general, co-working spaces tend to be quite contemporary in design and style. But they do still have to be functional too. You will often find artisan coffee hubs and multiple other hubs within the area. This begins to create an energetic environment. This type of workspace should flow well and allow people to move around and still have access to various facilities.
The environment needs to encourage creativity, and it needs to be somewhere that people want to work.
You should aim for a location that is safe, easy to find, and convenient to other services and amenities. Take into consideration the nearest train station, parking, and even safe cycle routes depending on your city. Also consider its proximity to people’s homes.
You need to ensure that your co-working space is comfortable but also ergonomic. Most people who will be using the space will use their computers and laptops for multiple hours per day, which means your environment and needs to be prepared for that. Academic furniture is usually designed with that in mind and is suitable for use with multiple modes of technology. But, of course, you’ll need to make sure you keep an eye on your budget.
You’ll need to furnish the co-working space with the idea that you should always be at maximum capacity. When planning, be sure to add multiple seating areas, breakout rooms, larger desks for larger meetings, as well as private booths for those who wish to work in silence. A variety of work set ups is essential for productivity.
Focus on local businesses first, and then expand outwards. Create a marketing strategy aimed at local businesses and freelancers first, but bear in mind that people who travel for business may be interested in services to so don’t limit yourself too much.
Suppose your co-working space serves the local community and is designed to help local start-ups. In that case, there is a possibility that you can also apply for financial help through small business development centers, small business loans designed for the local community, community finance schemes, and more.
About: where to get business finance.
A co-working space can be a great way to meet other entrepreneurs and provides a valuable resource for other local businesses.
When possible, head to other co-working spaces to understand the clients, space, and price. You may even decide to discuss extending their co-working space to your area.