Co-working is relatively a new concept in the real estate world. What value do you think a co-working space has on a business associated with it.
Why do you think it might be a fit for you? That’s where you want to start.
I started and run a small coworking community for women.
In my research I’ve seen two basic types of coworking: real-estate based for immediate revenue gain and community-based for longer term, but generally more sustainable revenue growth.
Supporting a community - engagement, consensus, tummeling (actively encouraging cross-pollination through personal, programmatic, electronic, and other interactions) is pretty labor intensive. I find it to be the most rewarding part of the job. People come here because they like the amenities and feel of the physical space, but also because they enjoy the mix of other people here.
We do not have private offices or dedicated desks at this time because the space is too small. If and when there’s demand, we (the whole community) will consider finding a different space to meet the emerging needs.
Sometimes it’s cheap private office space with basic office amenities (copying/printing, wifi, clean bathrooms, kitchenette, conference room) that some entrepreneurs want. The interaction with other coworkers is a bonus but not necessary.
Research. Talk to lots of people. There are several really large real-estate-based models out there.
With respect to your question: so far there aren’t a lot of coworking spaces making a lot of money, so if the value you’re looking for is revenue, put that farther down on the list. If you are trying to be a good corporate citizen, you could sponsor a coworking space such that it’s free for the community or (way) under market value, then tout that till the cows come home. You could partner with a business accelerator and enable coworkers to utilize your partner’s resources. There are lots of options. There’s no cookie-cutter approach to coworking. It’s about what your audience wants.
That said, think hard about what direction you’d like your brand to go in.
I love my job. I get to hang out with some phenomenal women. Coworking has been really inspiring for our members.
Good luck!
E.
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On Sunday, June 25, 2017 at 12:51:12 PM UTC-5, Pranab Poira wrote:
Co-working is relatively a new concept in the real estate world. What value do you think a co-working space has on a business associated with it.
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On Monday, June 26, 2017 at 8:54:21 AM UTC-6, Elaine Glowacki wrote:
Why do you think it might be a fit for you? That’s where you want to start.
I started and run a small coworking community for women.
In my research I’ve seen two basic types of coworking: real-estate based for immediate revenue gain and community-based for longer term, but generally more sustainable revenue growth.
Supporting a community - engagement, consensus, tummeling (actively encouraging cross-pollination through personal, programmatic, electronic, and other interactions) is pretty labor intensive. I find it to be the most rewarding part of the job. People come here because they like the amenities and feel of the physical space, but also because they enjoy the mix of other people here.
We do not have private offices or dedicated desks at this time because the space is too small. If and when there’s demand, we (the whole community) will consider finding a different space to meet the emerging needs.
Sometimes it’s cheap private office space with basic office amenities (copying/printing, wifi, clean bathrooms, kitchenette, conference room) that some entrepreneurs want. The interaction with other coworkers is a bonus but not necessary.
Research. Talk to lots of people. There are several really large real-estate-based models out there.
With respect to your question: so far there aren’t a lot of coworking spaces making a lot of money, so if the value you’re looking for is revenue, put that farther down on the list. If you are trying to be a good corporate citizen, you could sponsor a coworking space such that it’s free for the community or (way) under market value, then tout that till the cows come home. You could partner with a business accelerator and enable coworkers to utilize your partner’s resources. There are lots of options. There’s no cookie-cutter approach to coworking. It’s about what your audience wants.
That said, think hard about what direction you’d like your brand to go in.
I love my job. I get to hang out with some phenomenal women. Coworking has been really inspiring for our members.
Good luck!
E.
On Sunday, June 25, 2017 at 12:51:12 PM UTC-5, Pranab Poira wrote:
Co-working is relatively a new concept in the real estate world. What value do you think a co-working space has on a business associated with it.