There are plenty of reasons why location is important for a coworking space. A great coworking space is accessible, nearby to plenty of other important locations, and in a great building. Every real estate professional emphasizes the importance of location. It makes amenities that much more valuable, and at the same time attracts the right type of people into an area. The same holds true with coworking spaces, and these considerations must be reviewed before agreeing to a space.
Access to Transportation
The rule with transportation is the more options means a better location. A coworking space should be relatively easy to drive to. However, a coworking space on a bus route or light rail also has great value. It’s important to know how people commute to a location. If there’s auto traffic, make sure the parking lot is safe and well-lit. If it’s an easy walk from mass transit with a parking lot, that’s a great location.
A great location for a coworking space is between a bedroom community and a city center. The reason being people generally don’t like the commute. A space between these two areas is perfect for coworking. Instead of the long commute, the entrepreneurs and companies appreciate the flexibility offered by shortening the commute. This means employees are happier, and they stay at a company longer. Also, the strategically chosen location makes the coworking space stand out.
Most coworking spaces won’t be located in upscale areas. Many will be in up-and-coming areas, or areas that are establishing themselves. There’s nothing wrong with being in a community that’s on the right trajectory, however it’s important to figure out where the community is. Safety is critical for members, so ensure the area for the coworking space is in a safe area, the surrounding community looks good, and that helps assure the members that they’re in a good space.
There are lots of different location considerations for Venture X franchises. Schedule a meeting with a Venture X professional and learn how a location is scouted before its chosen for a new franchise.