The idea of opening a coworking space is exciting—creating a hub for innovation, collaboration, and productivity sounds like a dream. But between lease agreements, community-building, and figuring out how many coffee machines are too many (spoiler: you can never have too many), the reality can be a little daunting. To set yourself up for success, let’s dive into the key dos and don’ts of launching a shared workspace.
Do: Start with a Solid Business Plan
A coworking space is more than just desks and WiFi; it’s a business. That means you need a detailed plan outlining your target market, pricing structure, and projected expenses. Will your focus be on freelancers, startups, or remote teams? What amenities will set you apart? How will you balance affordability with profitability? A clear roadmap helps you avoid costly mistakes and ensures you’re not just throwing office chairs into a room and hoping for the best.
Don’t: Underestimate Location
A great coworking space in a terrible location is like a five-star restaurant in the middle of nowhere—it won’t get the traction it deserves. Choose a location that’s accessible, has parking or public transit options, and is surrounded by complementary businesses (think coffee shops, gyms, and lunch spots). Your members need convenience, not a daily obstacle course just to get to work.
Do: Focus on Community, Not Just Space
Successful coworking spaces thrive on community. It’s not just about providing a desk—it’s about fostering an environment where members can network, collaborate, and feel like they belong. Host networking events, encourage interaction, and create spaces that facilitate casual conversations. When people love the atmosphere, they stick around—and they bring their friends.
Don’t: Skimp on Amenities
Reliable high-speed internet? Essential. Comfortable seating? Non-negotiable. Meeting rooms, phone booths, printing services, and free coffee? The more value you provide, the more attractive your space becomes. Offering tiered membership options with different levels of access to amenities can help maximize revenue while catering to different needs.
Do: Invest in Technology
Modern coworking spaces need seamless technology—member management software, automated billing, keyless entry, and booking systems for meeting rooms all enhance the experience. Plus, strong cybersecurity measures ensure your members can work without worrying about data breaches. Make tech a priority from day one.
Don’t: Ignore the Competition
Before you open your doors, research other coworking spaces in your area. What are they doing well? Where are they falling short? Find your niche and highlight what makes your space unique. Competing purely on price can be a race to the bottom, so focus on differentiators like superior service, specialized offerings, or an unbeatable community vibe.
Do: Hire a Coworking Consultant
If you’re new to the coworking industry, bringing in a consultant can save you from making expensive mistakes. A seasoned expert can guide you through market research, space planning, pricing strategies, and operational efficiency. Rather than navigating the coworking landscape blindly, tap into proven expertise to fast-track your success.
Don’t: Try to Do Everything Alone
Coworking spaces are built on collaboration, so don’t hesitate to seek support. Whether it’s partnering with local businesses for perks, hiring an experienced community manager, or consulting with industry pros, you don’t have to figure it all out solo. The best coworking spaces are the result of great teamwork.
Ready to Launch the Right Way?
Opening a coworking space is a rewarding venture, but it requires careful planning, smart investments, and the right guidance. If you’re serious about building a successful, sustainable workspace, let the experts help. Workspace Strategies specializes in coworking consulting, helping entrepreneurs like you create thriving shared workspaces. Don’t go it alone—get in touch today and turn your coworking vision into reality.
