What Makes a Coworking Space Successful?

November 07, 2022 / Written by Corporate Suites Staff

There are dozens of factors that can help make a coworking space successful, but it always boils down to one thing: customer service.

Who will your clientele be, and what are you going to do to ensure they have everything they need for their success? Once you figure out this equation, it will be difficult to fail.

However, the equation is made up of dozens of factors. Today, we’ll cover them and tell you why they matter. Read on.

The Top-Tier Attributes for a Successful Coworking Space

It doesn’t matter if you have a great facility. If people don’t know where it is, if you’re not hospitable, if you don’t have the right equipment, no one will work with you. Starting from the top, here are major factors you need to take into consideration when starting your business.

Be Where You Need to Be

The location is a successful coworking space’s first and most important attribute. If you’re not centrally located, or if your city or town doesn’t have enough foot traffic, you’re going to have a more challenging time getting people in the door.

There are ways to overcome this, but starting with a high-traffic location is always best. Once you have that, the rest is up to you.

Beat Out the Competition with Your Amenities:

Your coworking space needs the amenities people want and need. This includes high-speed internet, a well-stocked kitchen, private meeting rooms, and more.

They won’t stay long if you don’t have what people need. It’s as simple as that. Research and figure out what people want before you open your doors.

Privacy is Underrated

One of the most important things people look for in a coworking space is privacy. They want to know that their work will be respected and that they won’t be disturbed.

Your business will need private meeting rooms, plenty of nooks and crannies to hide away in, and good soundproofing. If you can provide this, people will be more likely to work with you.

People Want to Feel Safe Too

Another critical factor is security. People want to know that they and their belongings are safe and won’t be in danger while working.

This means having a sound security system in place and a helpful and friendly staff. If you can provide this, people will feel more comfortable working with you.

Events Can Bring New Clients

One of the best ways to attract people to your coworking space is by having events. It could be anything from happy hours to educational seminars.

People want to know that there’s a community at your coworking space and that they’ll be able to meet new people and learn new things. If you can provide this, you’ll be more successful.

You Need a Professional Yet Comfortable Atmosphere

People want to feel comfortable and relaxed while working. They also want to be around other people who are like them, with the same goals and ambitions.

Ideally, you’ll want an open, airy space with plenty of natural light. It should also be clean and well-organized. If you can provide this, people will enjoy working in your business.

Strive to Build a Community

Community combines several of the above factors. You build your own professional ecosystem when you can bring it all together. And most people like the feeling of being a part of something.

A strong community manager can help facilitate events and build relationships. They should also be responsible for creating opportunities for networking and collaboration.

Run Your Operation with Class And Grace

Another vital factor is hospitality. People want to feel welcome when they come to your coworking space. You may need to pay extra for a staff that’s friendly, knowledgeable, and willing to clean, but it’ll be worth it.

Try to Be Flexible

Keeping your doors open and allowing clients to come and go as they please is something that may seem obvious at first glance. But there are a lot of co-working spaces out there that only stay open during regular business hours.

Your Facility Should Be Top-Notch

The quality of the facility is also essential. It should be safe, secure, clean, and provide the best equipment and amenities. Don’t be afraid to upgrade, either. It will give you something to promote.

You’ll eventually have to buy new things, no matter how new it is. Upgrades will keep people flowing through the doors and are potential write-offs for your company.

Equipment and Furniture

The quality of the equipment and furniture matters quite a bit. Your clients will demand modern and comfortable furniture. Stock your space with ergonomic chairs, desks, and workstations. Make sure high-quality equipment is in your establishment before opening for business.

Pricing

The prices of the coworking space can bring people in and drive them away. You need to be willing to offer discounts, corporate rates, and maybe even freelance rates, depending on your area and the demographic you’re targeting.

The Right Tech Plus the Right Equipment Equals Victory

It’s not enough to just have the right equipment. A powerful technology stack is equally valuable. People want to know they’re working with the latest and greatest tools. Your space should have a robust Wi-Fi connection, plenty of outlets, and modern equipment. 

Give Clients Reasons to Love Your Business

A delightful user experience may be the most important factor. People want to know they’re working in a space designed for comfort and convenience. Make sure to have plenty of comfortable seating, ample storage, and a well-designed layout.

Your Staff Matters

A fantastic team is essential. People want to know that they’re working with a group of people who are friendly and helpful. Hire a staff that is passionate about their work and committed to providing the best possible experience for members. 

Be Unique

A key differentiator can be the difference between success and failure. Customers will want a unique space that offers something they can’t find anywhere else. You may have to think outside of the box on this one to come up with a niche focus or offer something that is truly special.

Going Green Is Still a Thing

An environmentally friendly workspace is the kind of business that will attract young corporate types and many others. Put some sustainable practices in place, such as energy-efficient lighting and recycling programs.

You Can Never Go Wrong with Snacks

Having food and drink options can set you apart from the competition. You could set up a counter offering local goods from the farmer’s market. You can allow new food trucks and restaurants to do pop-ups at your facility. There are tons of options here. 

 

You’ll also need a complimentary tea and coffee station. According to the CDC, over 80% of Americans consume caffeine daily. It’s the fuel that keeps our economy running. Make sure to have some available.

Access to training and resources

Access to training and resources is a nice perk. People want to know that they’re working in a space where they can get the help they need to be successful. This means having a library of resources and access to experts who can provide guidance and support.

Opportunities to Network Efficiently

Networking opportunities will give your clients a chance to increase revenue. It can also help your business increase revenue as well. People want to know that they’re working in a space where they can meet other like-minded individuals and make connections. 

You can accomplish this by having formal and informal community gatherings to help everyone get to know each other. It’s also good to help people become familiar with your staff.

Provide Individual Workspaces

The demand for individual workspaces will be high with any coworking space. Many of your clients will be founders of startups working on proprietary tech that they don’t want to be leaked to the public or competitors.

Corporate espionage still exists. Having private spaces paired with high-quality security can bring in customers with deep pockets.

Provide Office Supplies

Having office supplies and necessities seems like a simple way to provide resources for people paying money to use your business. But because of budget cuts and cheapskate owners, they’re not always readily available. 

Most people aren’t going to pay money if they can’t get access to the basic supplies they need. You’ll need a supply closet with all the essentials, and keep it stocked.

Offer Storage Solutions

There are a couple of different reasons to offer storage to your clients. First, it gives them a feeling of security, knowing they can store items in your facility without worrying about them being stolen. Second, as a business owner, this is a chance for you to generate a new revenue stream.

You Need the Right Lighting

Creative lighting is another nice perk. It’s not something you can really market to potential customers, but it is something they will notice when working in your space. Try to have a mix of natural and artificial light, and use creative lighting fixtures. 

Provide Community or Open Areas

A space for brainstorming is something you don’t see in every coworking space. It takes up room, and many folks are trying to keep their work private. But some people want to know that they’re working in a space where they can think creatively and be joined freely by other like-minded people.

Stand Out from the Crowd

Being unique doesn’t necessarily mean you have to go way outside of the box. Just a few minor tweaks here and there to your current idea might just be enough. Here are a few thoughts to help you get started.

Cozy Up to Corporations

One way to stand out is to become corporate-friendly. This means offering corporate rates, memberships, and packages. You can also offer amenities that appeal to businesses, such as meeting rooms and event space.

Fall in Love with Tech

Embrace technology. Offer high-speed internet, digital membership cards, and other tech-friendly features. 

You can also offer amenities that appeal to tech-savvy workers, such as standing desks and ergonomic chairs. You’ll be successful if you can make your co-working space attractive to tech-savvy workers.

Cater to Specific Groups

What if you specialized in something or catered to certain demographics, like freelancers or tech companies? Sure, it’s a bit more tedious to find a niche and becoming the go-to co-working space for that niche, but it may be worth your time. 

You can specialize in anything, from businesses to artists to tech workers. If you can make your co-working space attractive to a specific group of people, it could lead to early success.

Reduce Your Carbon Footprint

Think about sustainability. Consider offering environmentally-friendly features, such as bike storage and recycling bins. 

You can also offer amenities that appeal to eco-conscious workers, such as organic coffee and recycled paper.

Offer Wellness Packages

Another way to stand out is to invest in wellness. This means providing features that promote health and well-being, such as yoga classes and standing desks. But you don’t have to use your facility, though sub-letting extra space could be a nice revenue source. 

Consider partnering with a local gym to give your clients discounts if they sign-up with you. 

You can also offer amenities that appeal to health-conscious workers, such as healthy snacks and water filtration.

Optics Can Make a Difference

Design your business to appeal to people walking or driving by it. If it looks like a fantastic spot from the front, potential customers may be more inclined to step inside and see what you’ve got going on that their facility doesn’t have.

Open Multiple Spaces

More customers means more money. But what about the people on the other side of town? What about those out in the county who don’t want to commute to the city daily? 

Having more than one co-working space in different parts of town, or even in other cities, might be wise. You can also offer amenities that appeal to the workforce in specific areas.

FAQ

How can I make my coworking space better?

The best way to improve your coworking space is to focus on what makes you unique. Consider what you can offer that other spaces don’t, and invest in amenities that appeal to your target market. 

You can also try to create a sustainable, wellness-focused, or design-savvy space.

What do people look for in a coworking space?

Many people look for coworking spaces that offer something unique. They want a comfortable space with the amenities they need, but they also want a space that feels like a home away from home. 

A successful coworking space will have a strong community feel and offer its members something special they can’t find anywhere else.

What a coworking space should have

Above all else, a successful coworking space should have a strong community feel and offer its members something special that they can’t find with a competing business. 

It should also be comfortable, with the amenities people need, such as Wi-Fi, printers, and scanners. 

Looking for an office in the city? Corporate Suites offers furnished offices spaces, virtual offices & conference rooms in several prestigious locations across New York City.