If you're running a coworking space, it's important to offer a variety of membership plans that will appeal to the different types of customers you are targeting. By doing so, you'll not only attract new customers but make more money in the process. In this blog post, we'll discuss seven different types of membership plans that are bound to make you rich. So, if you're looking for some tested ideas, read on!
A hot desk membership plan is probably the most popular option at coworking spaces. It typically provides access to a coworking space during business hours without a fixed workstation. The user just takes any available seat. With a hot desk membership, a customer gets access to all the necessary office equipment available in your shared space and Wi-Fi.
Offering a hot desk membership plan you can attract freelancers or entrepreneurs who need a professional workspace on a budget. It is great for people who need to work from different locations or who are in town for a short period of time. With this type of membership, entrepreneurs get a great way to meet new people and expand their professional networks while still preserving utmost flexibility—they can come and go as they please, which makes it easy to fit work into their busy schedules.
The average monthly price for a hot desk in the U.S. is $195.
A dedicated desk membership plan is a type of coworking membership where a customer is assigned a specific desk or workspace within a shared office space. This type of membership is ideal for remote workers or freelancers who need a dedicated workspace to stay productive. Having their own assigned workspace gives entrepreneurs a feel that they come to a personal office. You can also include additional benefits like storage and access to meeting rooms and other common areas in your dedicated desk membership plans.
The average monthly price for a dedicated desk charged in the U.S. flexible workspaces is $387.
A private office membership plan is probably the most desired for coworking space owners as it brings much more revenue than any other plan mentioned in this article.
This type of membership gives teams the privacy and independence of working in their own office, without the hassle and expense of renting and maintaining it. Opting for a private office is a great way for start-ups, small and medium-sized teams, as well as remote or hybrid employees to get all the benefits of a coworking space without having to share their space with anyone else.
Customers get access to all the shared amenities and facilities of the coworking space, including conference rooms, event spaces, kitchen and break areas, and more. They can network and collaborate with other members and project teams.
It’s really difficult to tell the average price of a private office plan. It depends on too many variables such as team size, building class, and many others. For instance, it can be as high as $150 - $200 per square foot.
A weekender plan is good to have to get more traffic on your typically slower days such as Saturdays, Sundays, and business days after 6 pm.
The option is perfect to hook up side-hustlers that are developing their businesses but are not ready to commit to a long-term membership. You can give them access to your space and all its amenities for a reasonable price, such as $99/month. They will have access to all of your common areas, including the kitchen and lounge area, as well as conference rooms. Besides, you can give them discounts on events and workshops. This way, you will craft a convenient and affordable membership for customers that need their work done on the weekends or during non-peak hours.
A virtual office membership plan is a great way to give customers the best of both worlds—the convenience of working from home and a professional environment of a coworking space. Simply put, the plan gives members access to shared office space, without the need for a physical office.
The benefits of a virtual office membership for customers are plenty. Starters will be able to use coworking space address as their own giving their home business a more professional appearance. They'll also have access to your meeting rooms and common areas, so they can network and collaborate with fellow members. Plus, they'll get all the perks that come with being your regular members, such as discounts on printing services, educational events, and more.
The prices for using a virtual office can vary a lot. This membership can cost as low as $50 or less or as high as $200 or more. Everything depends on additional services included in the package. For instance, you can upsell your customer with a mailing address, telephone answering, videoconferencing services, and whatnot
Not all entrepreneurs are interested in having a workstation in your coworking space. Some people are looking for a community vibe that you can provide with a community membership plan. This type of membership offers huge value at a low cost. It can include 1 day of hot desk access per month, access to the digital community of your workspace, discounts on meeting room rentals and event tickets.
By providing a community membership plan, you multiply your chances to sign up members that would never do it otherwise.
You can make your community plan a few dollars more expensive than your regular day pass, which we are going to describe in the next section.
The day pass plan at a coworking space normally includes access to all the amenities and facilities that regular members enjoy, including high-speed Wi-Fi, printer and scanner access, private phone booths, and communal workstations. A customer with a day pass can also enjoy discounts on events and merchandise from your partner businesses.
A day pass plan is a great way for customers to get access to your coworking space without having to commit to a long-term membership. This type of plan gives the flexibility to use the space when they need it without having to worry about paying for workspaces that they are not using.
This type of plan is perfect for freelancers, remote workers, or anyone who is new to the system of flexible working or who needs to use your amenities only once in a while.
The price for a daily pass at a coworking space may vary from $45 to $55.
By now, you should have a pretty good idea of what sorts of membership plans your competitors offer. It's time to see which one will bring in the most money for yourself! But how to manage all those options and stay sane? It shouldn't be a problem to assign and track memberships in Google Sheets if you have 10 members. Though, imagine the stress of managing 50+ customers’ plans.
The easiest solution here is to implement coworking management software. These systems usually provide an array of tools to automate such tedious and time-consuming processes as subscription management.
With a proper workspace management platform, you assign a membership plan to a member or a company once, and then just forget about it as the system takes care of the rest. It automatically generates recurring bills, sends them to customers on the agreed dates, and collects payments through bank cards such as Visa and Mastercard.
Actually, this is just the tip of the iceberg. With coworking platforms such as andcards, you can charge customers' accounts in a click, just like you do with bank cards. I am talking about direct debit transactions when you not only fully automate billing at your coworking space but save tons of money on bank fees. All of us are aware of the benefits of ACH, SEPA, and Becs low-cost transfers.
Coworking space plans can be as varied as the people who use them, but with a bit of thought and some helpful tools, you can successfully manage all those types of subscriptions. What's more, you can completely automate this recurring revenue and even make your plans available for purchase online.