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Although the coworking market is expanding by 15% annually, in many places it still represents only 3% to 5% of the office market. As flexible office space operators, you must reach out to the target market that is the best fit for your space in order to grow a successful, lucrative coworking business because coworking is still in its infancy. Find Your Target Market is the advice we give coworking operators in this article.
What Kinds of Coworking Spaces Do You Promote?
There is considerably more to marketing a coworking space than the quantity of individual workstations or private offices. When comparing flexible work environments, those who are looking around for coworking space consider a number of aspects.
They may require:
- An office with built-in video conferencing features for one or two remote workers.
- A selection of flexible on-demand office spaces for executives or other mobile workers.
- Remote workspace for transient special efforts or projects.
- A growing area for a small team.
- On-demand, highly adaptable space including private offices, conference rooms, training rooms, and event space.
Additional features and services offered by the office space include catering, tech assistance, and an on-site reception.
Who Are the Most Likely Users of Coworking Spaces?
You can maintain your present space leased and even find opportunities for expansion by creating a coworking marketing strategy that communicates your location, features, and services to the users it is suited for.
Freelancers and Remote Workers
An independent contractor or remote worker who just needs desk space for a few hours a day or a few days a week is the typical target market for coworking spaces.
Small businesses or teams
A rising portion of the market for coworking spaces is made up of small businesses and teams.
The largest and fastest-growing market for coworking and flexible workspaces is corporate clients.
Flexible workspaces might help corporate clients overcome some of the recruitment issues they face today.
Which Styles of Coworking Space Exist?
Coworking spaces come in a variety of sizes and styles, including opulent buildings, innovation hubs, and eco-friendly pods. They are created to meet the requirements of different types of workers. You won’t have any trouble locating one that works for you, whether you require a desk for weekly video editing sessions or a conference room to host client meetings. Generally speaking, your options include:
- Open: These maintain the original conception of coworking.
- Private: These areas are for huge teams or businesses that require a personal room or entire floor.
- Industry-specific: These areas are designed with employees in particular industries in mind, such as music, technology, or design.
5 Benefits of Coworking Spaces for Independent Contractors
Working remotely is nothing new for everyone. But in recent years, working from any place has only really meant working from home.
Here are seven reasons you should consider coworking spaces now that you’re free to leave your living room.
- Work Hard No Matter Where You Go
You’re used to using unusual places, like your favorite coffee shop or the closet in your flat, as your personal workspace if you’re a freelancer.
- We adore your inventiveness.
However, these temporary work locations aren’t always convenient or effective.
- Locate Your Folks
You spend a lot of your time alone when you work from anywhere. Freelancers frequently operate alone and only interact with clients on computer screens. You may adore your freedom, but everyone experiences loneliness.
- Expand Your Clientele and Your Skill Set
You can further your professional development by using coworking spaces. Some organize activities and programs that introduce you to experts in your field and put you in touch with them. Future customers may be met, and you may receive business expansion advice.
- Increase Productivity
Even if you’re not much of a people person, coworking spaces are still a possibility. You can locate coworking spaces with private offices that provide the silence required for the concentration.
Which Sectors Are Likeliest to Utilize Coworking Spaces?
The use of flexible office spaces by some of the most dynamic companies in the nation is leading to an increase in the market size for coworking spaces.
Developers of software and IT services
Software firms seek out remote offices for its cutting-edge digital infrastructure, in-house conferencing capabilities, and flexible space availability, whether providing areas for team collaboration or for individual programmers and developers.
Legal and Financial Services
Many lawyers and financial planners devote a lot of time to either client interaction or research and writing, but seldom both.
A coworking space can provide services just as needed, saving the cost of maintaining a sizable office with a reception area, conference room, and individual offices.
Services for marketing and advertising
From private offices to collaborative settings to event facilities for press conferences or product debuts, many creative service sectors need a variety of spaces to conduct their enterprises.
What is The Most Important Consideration While Selecting a Space?
Additionally, we are approaching a new labor market driven by Millennial professionals who prioritize work-life balance and self-care, two things that are difficult to obtain while commuting great distances or working in unfavorable environments.
Therefore, the target market for coworking spaces is made up of people who put convenience and location above all other factors.
You should spatially tailor your digital marketing for coworking spaces to make sure you are targeting the right demographic in your neighborhood.
To make your happy present members a source of future growth, look into testimonials and referral bonuses.
Identify your target market for your coworking and flexible office business and learn how Upsuite can help you reach out to them.
The Bottom LineFind the closest coworking space if you’re having trouble concentrating at home, need some additional tools to finish your tasks, or just want a private desk while traveling.