Mar 5, 2021 Blogs Co-working space

How does a Well Managed and Furnished office space help to Generate Revenue through coworking space

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Spaces with just furniture are not office spaces. An office space is the one which has the facilities to conduct work daily. Common office spaces would have reception, cabins for officials, and a common working area for the office staff along with refreshments area, lift, and other basic facilities. Office spaces can be converted to coworking spaces only when they are well furnished with amenities. The additional amenities include pleasing décor, internet connection, cloud storage, and accessibility to meeting rooms, conference halls, fitness centers, refreshment areas to name a few. The growth of any business is entirely dependent on the customers and their satisfaction. Only satisfied customers generate revenue for the business. So, let’s take a look at how customers can be happy with a well-maintained furnished space that can generate revenues to coworking space.

Clients or Customers need basic services such as:

  • A high-speed internet connection is essential today to conduct everyday work without hindrances.
  • Appropriate Lighting and ventilation/air circulation.. This is very much required as they are working for long hours and need an adequate amount of lighting and air  circulation in the coworking space.
  • Storage units with locks for the coworking space users to keep their stuff safe which can vary from electronic gadgets to personal documents.
  • Power or electricity backup so work can be carried through without any hassles.
  • Adequate security in the area. Adaptation of surveillance cameras and alarm systems around the coworking space.
  • Ergonomic chairs are essential today as most of us are sitting for more than 10 hours a day. 
  • Multiple plug points to plug-in from which every position you choose in coworking space.
  • Parking facilities for the individuals using coworking spaces.
  • Cloud facility is necessary today, as there is no concept of physical servers right now.
  • The other value-added services are virtual office facility, in-house printing, scanning, mailbox facility 
  • The virtual assistant service for individuals who would like to reduce their burden of work

These are the common needs that a client looks for while checking out a coworking space for usage. Along with the above, the following ones too play a critical role while deciding.

Pricing Flexibility

People Using coworking spaces today are looking for cost-effective ways. The main reason behind the customer becoming price conscious is COVID-19. They are keeping a tab on their expenses and checking out the pricing options that would work to their benefit. So a flexible billing/pricing model would be ideal to get the attention of the customers. Flexibility to use the facilities available when and how they need would be an added advantage. This works in favor of the users and also the coworking space. The happy individuals will not look elsewhere and also can refer their friends. The word-of-mouth publicity works better than any other advertisement even these days.

Pleasing Decor

Starting their day afresh is vital for individuals at coworking space. These are the people who are motivated and come with the plan to accomplish their set goals every day. So a pleasing décor that is eco-friendly, with a motivating poster here and there and subtle colors would set the surroundings right to start the day. The furniture used should blend with the colors and surroundings at the same time convenient and comfortable to use. Individuals would like to have a beautiful décor, with a pleasing view and ergonomic furniture with minimal but pleasing furnishings around. These surroundings would attract the individuals to start their work with good vibes.

Well managed and furnished shared office space with amenities is not sufficient to make revenues. The point is to get the individuals to use it. Only when there is a regular crowd using the facilities does it generate revenue to the owner. 

How to use the demand for the coworking space to generate revenue?

Shared office spaces are in demand by startups, entrepreneurs, and organizations also. So, workspace operators need to have a system in place to handle the leads and convert them to sales. There is no better PR than a satisfied customer talking about a coworking space. Word of mouth still affects getting more leads. Apart from this, it is good to know the pricing options the market is offering and analyze the marketing effort areas required. Coworking spaces are generating leads by SEO, Google Adwords, and Social media also. Having a CRM software to place and manage to track these channels. Tracking the leads generated, the marketer will be aware of how to analyze the performance and the necessary action to be taken. 

Other efforts include

  • The coworking space  should have a good quality website
  • To have social media strategy in hand
  • Membership plans
  • Have partnerships with local businesses
  • Hosting events in coworking spaces
  • Help your coworking space members succeed 
  • Creating health insurance programs

Other additional office services like

  • Office supplies in hand for the usage of the individuals
  • Self-serving cafes
  • Air purifiers
  • Parking space
  • Conducting events for free

Organizing events at coworking spaces has its benefits. This creates an opportunity to bring the members together and aids in developing the network. Individuals will appreciate these events as it brings in people of all walks of life together. This will be the stepping stone for social interactions and relationships established in the coworking space. This camaraderie will not only aid each other but also the coworking space when it blooms into the business.

iKeva cares for its Customers!

Members of the coworking space are an integral part of the growth of the space and generate income. So, surrounding the customer’s required activities and helping them grow will keep them with you for a long time. iKeva takes care of its customers like their own. They have various pricing options and facilities in all their offices in Bengaluru, Hyderabad, and Mumbai. A member of coworking space in Bengaluru can utilize the facilities in Hyderabad and Mumbai also. Contact them to know more about the facilities and various pricing options. iKeva ensures to find the pricing option to fit your requirement. Call now!