At StellaPop we pride ourselves on being on the pulse of what’s next. Which is why we’ve been following the coworking movement since the beginning. Since those early days, coworking has leaped from the niche to the mainstream, now spanning some 22,000 locations and 2.2 million coworking users worldwide. With 2019 growth estimated at a fifth on last year’s levels, there’s plenty of opportunity in the market.
That’s why we decided it was time to pool our expertise and put together an ebook for enterprising business owners wanting to launch their own coworking space.
The result is The Ultimate Guide to Succeeding in the Coworking Business, an all-in-one handbook that covers the essentials of finding, launching and growing a coworking space.
Here’s a sneak peek at what you can expect to find inside.
Why the World Loves Coworking
The gig economy is here to stay, and that means that the market is bursting with freelancers, consultants, part-timers, and remote workers. The thing all these workers have in common is that they don’t want to be tethered to a desk, or spend their days flying solo. Coworking delivers flexibility, freedom, handy amenities, and a built-in community.
Our eBook takes a deeper dive into just why the time for coworking is now – and why a coworking business should be your next move.
Landing On A Location
Coworking spaces are as much about the place as they are about people. Before joining up your first members, you’ll want to make sure that you’re signing the right kind of lease in the right place in the right market. That means doing your market research to assess both competition and need, and picking a spot that’s central, accessible and with room to grow.
Our eBook devotes three full chapters to market validation, selecting a space that meets coworkers’ demands, and negotiating lease terms that work in your favor.
Outfitting Your Space
Just like people, when it comes to coworking it’s what’s inside that counts. Flexible design that facilitates multiple ways of working is a must, with the most successful coworking spaces delivering a smart balance of hot desks, dedicated desks, communal working, and assorted breakout areas. In addition to your overall layout, you’ll want to consider telephony, power banks, lighting and extras like bike storage and gym facilities.
Our eBook provides a detailed overview of everything you need to consider when planning, designing and outfitting your space to maximize member satisfaction.
Turning a Profit
In the right hands, a coworking space can be a massively successful endeavor. But it takes some business savvy to optimize for both profitability and member experience. That’s where multiple revenue streams come in. Desk fees, space rental fees, virtual office services and even taking a VC interest in your coworking space’s startups can all keep your bottom line looking flush.
Our eBook outlines a variety of approaches to keep your cash flow flowing and your coworking space growing.
Hiring the Right People
Coworking spaces are all about community, which means that who you hire is a major factor in how well you’ll do. Your staff set the tone of the place, so finding a team that can deliver on your space’s promises while also being able to fit in with your members is a must.
In our eBook you’ll find tips on who to hire and the kind of experience you should expect your staff to deliver.
Launching With a Splash
In coworking, success starts early. You’ll want to be on top of your membership drive well before you open your doors. This means reaching out to the startup and freelancer community, building your online presence, seeking out referrals and developing local partnerships. You’ll also want to plan a launch event that gets as many people as possible into your space – and inspires them to sign up.
Over two comprehensive chapters our eBook guides you through everything you need to get your coworking space on the local radar, including hosting an epic launch event.
Keeping Up the Momentum
Change is constant in business. As a leader in the coworking space, you’ll need to keep on top of trends, respond to feedback, adapt to the shifting needs of your members and have a plan for expansion. Being able to adapt to changes in the market and your business will put you on track for ongoing success.
Our eBook devotes an entire chapter to keeping your eye on the end game – and building a business that’s built to scale.
Ready to make your name in the coworking space? Download your copy of The Ultimate Guide to Succeeding in the Coworking Business.