Starting your own coworking space can be highly enjoyable but definitely some tasks can be challenging. Depending on your budget, approach and style it can be smooth ride and not so…

At first many people started their coworking space from their own home or their own office. The thing was that at some point they had excess of space which needed to be utilized. Others took a more businesslike approach and took time to research for space, location, target crowd, investment, and expenses calculation and so on.

Both approaches can turn out as success, but these are the basic guidelines that one should follow when considering opening their own coworking space.

  1. Location. Like in real estate, the location of coworking space is important. You would not certainly want to open a coworking space somewhere where no one would come. Therefore, the coworking space has to be in neighborhood where people will come, for example in the city, close to transport, cafes and restaurants and other businesses. However, there is a trend for rural coworking for people who want to get away from the city and who are looking for more natural and greener surroundings.
  2. Target crowd. The crowd makes the coworking space successful. If you build it, it does not mean necessarily that the people will come. They need to be attracted to come and this is achieved by targeting the crowd and answering their needs.
  3. Designing the space. Simplicity always works. The space itself needs to be user friendly with basic necessities which are desks, chairs, kitchen, toilet, internet, printing facilities, etc. The bigger the space, the more options it should have and these could be private offices, conference rooms (bigger and smaller), silent rooms, etc. The design of the space defines the coworking place.
  4. Money matters. Calculating realistically the investment costs, operating expenses, other expenses and potential revenue. If miscalculating, the success of coworking space can be easily jeopardized.

In a nut shell, starting your own coworking space could be a great deal of fun. Remember you are targeting young, innovative group of people. If you succeed in providing them the service that they like, the success of your cowork place is almost guaranteed.