Determine a basic offeringĭetermining your basic offering, in other words, which membership types you will offer and their relative prices is the first step to being able to draft a viable budget. Everything Coworking Podcast, hosted by Jamie RussoĪt this point, you want to ask yourself a very important question: Financially speaking, can you make it on your own.Ĭoworking spaces can turn a profit, but like any business, a significant investment must be made before you can start generating revenue.DeskMag, otherwise known as “The coworking magazine”.Here are a few digital publications and other media you can follow to stay up-to-date on the latest coworking new and trends. Your goal is to consume as much coworking related media as possible.Īnd there are plenty of coworking “influencers” and experts out there creating valuable content specifically geared towards coworking operators. If you want to gain an intimate knowledge of coworking, it’s vital to stay on the pulse of the industry. That said, this becomes a more complex exercise because when it comes to coworking, each market is unique.Ĭoworking trends vary from country to country, region to region, and city to city.Īs a result, it's crucial that you research not only high-level coworking trends and landscape but also the coworking trends in your area.Ĭoworking is a global movement, and behind every movement are passionate individuals responsible for pioneering this change. In short, your goal is to gain intimate knowledge of the coworking market and competitive landscape. Conduct Preliminary ResearchĪny experienced entrepreneur will tell you that research is fundamental to launching a business. Here is a high-level glimpse at the most crucial steps leading up to the opening of a coworking space.īy the end of this article, you will have gained a deeper, more nuanced understanding of exactly how much time and resources it will take to make this ambitious entrepreneurial goal come to life. This mental road map will allow you to anticipate potential friction points and obstacles during the start-up process, and as a result, be more prepared to bypass common obstacles and make decisions quickly smoothly. You will have to familiarize yourself with multiple industries and specialties, including commercial real estate, design, technology, and much more.Īs a result, you can’t go step into this totally blind.Įquipping yourself with a high-level picture of what it takes to open a coworking space is the essential first step. That said, opening a coworking space is not an easy task, it will be an ambitious and multi-disciplinary journey.īecoming a fully-fledged coworking space owner also means being a jack of all trades. As a result, entrepreneurs are flocking to coworking to take advantage of this blossoming movement.