The office setup has changed tremendously over the years. Gone are the days when startups had to settle for basements, garages, and coffee shops. Today, coworking spaces have proven to be of great help to startups, entrepreneurs, and freelancers. Even the meaning of coworking space is constantly evolving. Now, it is no longer just a place for work but also a venue for networking and cultivating new relationships.
With this shift in work setup, new needs are realized and more suppliers and spaces are needed. If you want to venture into commercial real estate, you might want to consider building your own coworking space. This can be a great source of lucrative income.
If you are seriously thinking about this one, there are a few important things you have to keep in mind. This is to make sure that your coworking space will actually address the needs of your potential clients.
Find a prime location
Coworking spaces are still real estate properties. If you want to make your space a hit, you need to keep three things in mind: location, location, and location. No one will want to go to a space that is hard to find. See to it that the space you will invest in is in a central business district. You can either buy the space or lease it for a few years.
Build your network
There is an adage that says your network is your net worth. This simply means that your business will depend on how wide your network is. In this case, you may want to build your network first before going full-on with your business plan. Have a soft opening so that you will not have to spend a lot on your launch. You may also want to host some small parties with your very first clients and let them spread the word about your new coworking space venture.
Design the space intelligently
Coworking spaces are a hit, particularly among young professionals and starting entrepreneurs, because they do not look like a conventional office. They are fresh, hip, and highly functional. Make sure to design your space intelligently and beautifully. Hire an interior designer for it. For the function side, make sure you have a fast internet connection. VoIP phone handsets from the UK will always make a good addition.
Market it
When you are about to fully launch your coworking space, go for something grand. Drum up some excitement by posting teasers. Make sure your space is found online, so invest in SEO, too. You may also come up with a referral program to expand your customer base.
The work setup has indeed evolved – coworking spaces are already part of the future. If you want to become part of this revolution, it is a great business idea to invest in building a good coworking office. It will not only allow you to make good money, but it will also help you build communities and lasting relationships, which are all important currencies in the world of business.
