Factors to Consider When Choosing a Coworking Space
As a worker, choosing a coworking space is pretty easy. If a given space satisfies your preferences, is located near desirable amenities, and offers adequate space at an affordable price, why would you continue your search for alternate coworking spaces?
While it may be easy to find a coworking space you can rent, things are a bit different if you’re thinking about opening a coworking space you’re going to lease to others. While you may lose a few hundred dollars if you rent a coworking space you’re unhappy with for a month, you can lose millions if you open a coworking space that’s rentable, but that no one wants to rent.
If it were as easy as “build it and they will come,” it’s likely plenty of aspiring entrepreneurs would want to operate a coworking space. But, establishing a coworking space in a location that’s certain to be successful isn’t that easy.
To increase the chances that a coworking space will succeed in a select location, you have to choose the right location to begin with. Keep reading to learn about some of the factors you should consider when you’re choosing a location for a coworking facility.
While it may sometimes be safe to assume that densely populated urban areas that are loaded with desirable amenities will attract people to a coworking space, it’s dangerous to make the same assumption about more sparsely populated areas that don’t have similar amenities. If you’re thinking about establishing a coworking space in a smaller city, you’ll need to rely on some numbers to determine if your project will work in your chosen city or you should move on to another location.
The number of amenities that are located near a possible site for your coworking space is actually more important than the physical space itself when you’re looking for a location for your coworking facility. Even if the building you’re interested in is fresh, modern and physically sound, it won’t matter if the area surrounding it doesn’t have enough of the type of amenities your lessees will find desirable.
To determine if a chosen area has enough desirable amenities to make a proposed coworking space successful, you’ll need to use a data source like Factual’s Global Places Data. This data source has millions records for locations across more than 50 countries. Using information like this with mapping software can help you identify the amenities located near a proposed site, the density of amenity types, and their proximity to the location you’re interested in.
If you’re interested in more than one location, you should identify the amenities located near each proposed site to narrow down your list of possible locations. If you can’t afford a paid data source, you can get information that can help you shorten your list of prospective sights from free sources, such as the U.S. Bureau of Labor Statistics and the Economic Research Institute.
Your Experience on the Ground
Once you narrow your list down to a few locations, you should make plans to visit them. While data can help guide your decision, there is simply no substitute for the experience you’ll have on the ground when you visit a proposed site. Just because a location looks great on paper, it doesn’t mean it will feel “right” when you visit. Trust your instincts.
To experience a coworking facility that’s ideally situated for success, visit our Atlanta coworking spaces. As you’ll see, SharedSpace operates two convenient, welcoming Atlanta coworking spaces that are only enhanced and made more attractive to prospective lessees by all of the amenities that are nearby. To learn more about our locations, contact SharedSpace today.