Entrepreneurs and small startups are often looking for ways to get the most out of their limited budgets and make their day-to-day working lives as efficient and effective as possible, and many of them are being drawn to theconcept of coworking spaces.
Coworking spaces are dedicated working locations where independent freelancers, small teams, and entrepreneurs from all walks of life can come together in a shared workspace, usually with large coworking sections, private meeting rooms, and additional facilities such as kitchens and coffee machines.
There are many advantages to finding a coworking space near you and making it your main working location, and owners of coworking spaces are always thinking up new ways to make their spaces more enticing and engaging for all workers. This report will take a look at ways in which coworking space owners can attract more members and grow their businesses.
A recent study, undertaken by researchers at the Finnish Institute of Occupational Health, looked at employee satisfaction levels in coworking spaces, finding that while many employees were satisfied with the general feel and furnishings of multi-space offices, a majority of them were dissatisfied with workplace acoustics, with this factor being brought up by44% of the 91 employees surveyed.
Office space creators like Hana have responded to this by looking into new ways to improve acoustics in shared working environments, providing more "quiet zones" where workers can concentrate on their work and communicate with their own teams more easily. Methods include acoustic baffling, adding more plants to coworking spaces, creating new focus rooms and private spaces, and so on.
A study from Small Business Labs revealed that 79% of people who have worked in coworking spaces have been able to expand their social networks as a result, with 82% adding that their professional networks had grown since their move to coworking environments. From this, it's clear that networking is a big draw for people who want to get involved with coworking areas.
A lot of coworking companies have therefore started to make networking a bigger part of their offerings by incorporating and hosting networking events on a more regular basis. Treehouse Coworking, for example, hosts regular events like Lunch and Learn meetings at its Kailua location. Events like this can attract more members and workers, as a lot of young freelancers, in particular, want to have more ways to connect and communicate with like-minded people from other industries and walks of life.
Whenever workers are asked what they like most about the coworking spaces they usually visit, they often mention the comfort, aesthetic, and quality of the design and furniture of the spaces. The best coworking spaces available today don't have all that much in common with boring, bland, sterile office environments of the past. Instead, the top-rated spaces are warm, welcoming, comfortable, and even homely with their comforts and facilities.
It's only logical, therefore, that a lot of the world's leading coworking space providers, like Regus, are investing in more amenities, better quality furniture, and more in order to make their spaces as attractive, comfortable, and welcoming as possible. Coworking spaces looking for success need to make sure that their spaces are inviting and attractive, as workers nowadays have a lot of options to choose from and won’t settle for second best.
Reports show that one of the biggest challenges for coworking spaces around the world right now is attracting new members. Perhaps more worryingly, data shows that only 42% of coworking spaces around the world are actually profitable at the moment. We’ve already seen big names in this industry see early success but fail to sustain it, with WeWork being a famous example of this.
In response, a lot of big coworking companies, like Impact Hub, are shaking up their pricing models in order to generate additional revenue by being more flexible. They offer a wide range of membership plans for different types of worker and business, as well as lots of optional extras, each with their own monthly fees, like mail box access, key fob access, storage locker access, printing, faxing, and more. Aspiring coworking companies can add more items and services to their product menus to bring in extra money from their customers.
It's clear to see that coworking spaces can offer a myriad of useful benefits for small businesses and startups across many different industries, but the best spaces are always looking for ways to grow and evolve in order to offer more benefits to their users.