Startup series: Who will work in your coworking space?

Want to start a coworking space? Then this series is dedicated to you. Recently, we published the most important questions that prospective founders should ask themselves. Now we want to get to the bottom of the individual aspects in more detail. The most important part of your project is probably the people who will work in it. That's why we're shedding light on the question: Who is your concept intended for and what values do you represent with your coworking space?

What makes your location special?

The location of your coworking space is a key factor in determining who is attracted to your offering. From my own experience, I can say that I would neglect even the most architecturally beautiful office space, complete with free coffee, and stay in my home office if I had to commute two hours across town every day. In any case, many potential users will check the convenience of your offer against their personal needs. Good accessibility is definitely an important criterion here.

Therefore, a look around your neighborhood might be enough to get a first impression of your clientele: Is your space well connected to public transport and therefore interesting for commuters?

If the premises are located in the middle of an up-and-coming student district, you might offer suitable cultural events such as acoustic concerts, political panels or an affordable veggie brunch. You can use social media or student bulletin boards to invite people to an initial get-to-know-you event.

You want to revive a rather remote industrial area? Then perhaps your location has a lot of space for tenants from the surrounding area who appreciate it, whose equipment takes up more space, or all those who want to withdraw from the hustle and bustle of the city center.

The same is true for provincial locations, because of course coworking spaces are not only popular in urban centers. So your situation is much more specific if you plan to start up in a rural area. You may already know the place and be able to build on existing relationships to network and identify your target audience. Or are you targeting people from urban areas who come to your space specifically for retreats and workations?

So before you start racking your brains for coffee freebies, quiz nights and yoga classes, ask yourself the simplest question: Who are my neighbors and how can I offer them something unusual, new and worth experiencing? Even if they don't seek a coworking space themselves, the likelihood that they'll tell someone else about it increases.

Shared value creation

Maybe you're thinking now: Hey, I just want to find 20 likeable people who pay their rent regularly, chat over a Flat White every now and then, and bring a bottle of wine to the Christmas party. Do I really need to get to know the ominous target group that well?

But even if a lean cost-benefit calculation or a certain anonymity is in the foreground for you, it is worth taking a look at the intrinsic motivation of your tenants. If you know their needs (e.g., a short commute to work, a daycare center nearby, a phone booth) and values (e.g., open-mindedness, solidarity, a desire to spend evenings together) in advance and take them into account in your planning, this can be a key added value for them - and ensure their satisfaction and loyalty in the long term. It even increases the likelihood that they will recommend your coworking space to others and thus support your business plan.

Incidentally, not only I as a journalist see it that way, but also the Research Institute for the Future of Work. In the short expert report "Significance of Coworking Spaces as a Third Place of Work in Germany"commissioned by the Federal Office of Labor and Social Affairs, it places various aspects of current work models in the context of ecological transformation. And states in it: "The notion of a special potential for innovation derives from the fact that this place of work preferentially brings together people whose thinking is strongly oriented toward progress, results-oriented project development and entrepreneurial goals, and who together form a social community in which exchange and inspiration beyond the usual horizons are sought. This can foster, for example, co-creative processes and the generation of innovative solutions that address concrete needs in society."

More than just a desk space

In other words, coworking spaces attract people who crave more than just an efficient work infrastructure. People who want to share something of themselves - be it time, ideas or lunch. So when you communicate your concept and start looking for potential tenants, this knowledge can come in handy. Sharing is caring, it is often said - the fact that sharing can also complement or multiply ideas and innovation is a nice side effect. Where spaces, technical infrastructures and equipment are shared, people move closer together. In this way, your coworking space can become a vehicle that also enables the sharing of ideas, information and inspiration and actively integrates into a vibrant neighborhood.

Lastly, next week we'll shed some light on what software you can use to facilitate networking with each other. Stay tuned!