5 Key Elements of a Profitable Coworking Space

To run a coworking space is to invest in the idea of people working in a comfortable environment. However, building out the idea takes work and it requires level of diligence from a coworking space owner similar to that of a hotel operator. Understanding the different elements required to make a coworking space ideal is the best way to ensure profitability.

A Great Office Manager

The office manager is the starting point. This person must be personable, solutions-oriented, and very welcoming. They have to be excited to help and knowledgeable about the different problems coworkers face. The office manager must be motivated. They have to be keen about enhancing the experience for members. The better the office manager, the higher the revenue of the coworking space franchise.

front desk

Cleanliness

The old cliché is that cleanliness is like godliness. In coworking, cleanliness is the leading indicator of whether a space cares about its members. A clean space indicates the coworking space goes the extra mile to make members feel welcome. It’s imperative to clean, especially at the shared desks.

Comfortable Furniture

Whether it is ergonomic – which is ideal – or just plain comfortable, the furniture at a coworking space should be at the highest level. When members feel pampered, they recommend the space to others. The furniture goes a long way towards building comfort. The ergonomic furniture is especially favored, so look in the budget and don’t be afraid to extend it for these accoutrements.

Startup Friendly Environment

The best coworkers are usually startups. Many great companies started in coworking spaces. Today’s coworkers could be tomorrow’s billionaires. Therefore, create a culture conducive to helping start up businesses build for tomorrow. Find out what these startups need, and help them get access to resources they otherwise wouldn’t be aware of. This is a simple yet effective way to get known as an incubator of innovation.

Create a Community

The key with any great endeavor is making sure everyone feels invited to participate. A coworking community should feel like everyone is in it together. Otherwise, it’s not much of a community. Look to create events building a sense of togetherness. The office manager’s help here is critical. If everyone in the coworking space feels like they’re a part of something greater than themselves, new members end up joining, and the space becomes quite vibrant and profitable.

building a community in Venture X

When learning how to create a coworking space that is profitable, check out Venture X. A tour of any Venture X franchise reveals a place where the dream of a profitable coworking franchise is alive and well.

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