Your checklist for planning your ideal coworking space.
Once you have a firm idea of the vision and business model for your coworking space, you need to plan out the details before embarking on your project. Here are some of the key issues to consider.
1. Build a budget
No cost is too small to consider, even at this stage. Thinking way beyond the build of your space can help you budget into the future.
- Marketing – Creating your brand, advertising, PR
- Operating costs and overheads – Rent, utilities, running costs
- Technology – Computers, wi-fi, industry-specific tech, printers
- Design – Furniture, fittings, décor and branding
- Facilities – Kitchens, tea points, bathrooms
- Maintenance – Security, cleaning, maintenance and upkeep
- Staffing – Reception, management, marketing, IT
2. Identify Your market
Creating any successful product or service involves identifying your target market – then getting to know exactly what they need. Undertake in-depth target market research that pinpoints what your audience are looking for in a coworking space. This involves not just understanding what your users want from a space, but other key factors such as location, their budget, and the competitor landscape.
3. Develop your coworking brand
Once your target markets are identified, you can begin developing your brand. Consider what your competitors are doing, and how you’ll stand out. Identify what your USP will be, and how you’ll get the word out there. Devise your company’s philosophy. Outline a vision, and how you plan on achieving it.
4. Secure a space for success
Securing the ideal space for your coworking venture can make all the difference in its success. It needs to be in a good location with plenty of nearby transport links, and should work with your intended layout. You’ll need to factor repairs into your budget, while ensuring you agree to a deal that works in your best interests even in the long term.
Consider:
- Location & transport links
- Floorplate and layout plans
- Potential for expansion
- Property managers and landlords
- Surveys and repairs
- Negotiations
5. Optimise space performance
Considering the effectiveness of your coworking layout, look at whether you’re using each space to its full potential. At Office Workspace, our strategists have a deep expertise in optimising space performance for businesses, formulating spaces that work make the best use of all available space, enabling you to maximise your profit potential.
6. Think flexibly
Plan with flexibility in mind, so that you can provide a space that meets the needs of a range of different clients and use cases. This means creating adaptable spaces that can flex with user needs, with modular furniture and embedded technology that does the same. You’ll likely have a range of different industries working within your one coworking building, and some of the more niche technology required for each may work on a multi-purpose basis. Instead of investing in specific devices for each space, consider whether they can be used flexibly without too much detriment to user experience.
7. Engage with your clients
Identifying your target market is one thing. Understanding how they work best is another. Before making any design plans, it’s imperative that you get to know your target market. If a large corporate business is looking to invest in your coworking space, get to know how their workforce functions first. Workplace consultancy specialists can carry out all the necessary work to identify which solutions will work for you and your clients in your new coworking space.
8. Work with experienced developers
If you manage to create a coworking space that ticks all the boxes, word is likely to spread. Choosing the right workplace developers to guide you through your project can help you create a successful coworking venture from the start.
Office workspace can help you create an innovative coworking environment
At Office Workspace, we’re experts in developing modern office spaces that enhance productivity, creativity and collaboration while reducing costs.
As a multi-generational, family-owned business, we’ve refined our methodology over the years to provide our clients with best-in-class solutions, services and support. As attitudes to the workplace evolve, so do we, and this is reflected in our approach to the workspace. Fusing data-led practicality with our unwavering creative vision, our coworking developments are designed for success.
If you’d like to discuss how our coworking space solutions could work for you, please call our team on 020 8309 0000. Alternatively, you can get in touch via our online contact form.
