227. The New Rules of Engagement For Coworking Spaces - What you Sell

Things have changed. You must question all aspects of your coworking business.

I like to refer to this shift as “The New Rules of Engagement.” 

Last week, I walked through the key areas of our business that we should question post-COVID. 

In this episode, I do a deep dive on the aspects around “What you sell” that you should review/consider updating.

In this episode, I TALK ABOUT:

Flexibility

• Gym analogy - they don’t sell just a treadmill

  • Mix and match product (for individuals AND corporate)

  • Coworking + bucket of office hours

  • Shared private office space

• Less than full-time commitment

  • But be careful not to have a plan for every member

• Packages for quarterly offsites

Privacy

• Private, dedicated desk rooms

• Access to office

• More phone booths. If you’re not selling open space, you probably need more phone booths.

HQ Model 

• Consider a landlord partnership on this

• Furnished

• Tech-ready

• One point of contact

• Models to check out:

  • Expansive Smart Suites

  • Canvas by Industrious

  • HQ by IQ

  • Suites by Hub Australia

  • Launch Workplaces: Move-In Ready Team Suites

  • Independent operators - The Post

Other Shared Space Models our Coworking Startup School Students are Pursuing

• Cowarehousing

• Shared medical office

• Coworking + Coffee bar

Other sources of revenue

• Vending/snack bar

• VA services

• Virtual office + digital mail + GMB listing

• Coffee bar/Coffee Delivery/Coffee access for hotel

Everything Coworking Featured Resources:

• Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

• Community Manager University

• Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

• Craftwork packages for offsites

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