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Why Do Coworking Spaces Fail?

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Coworking spaces are getting popular with each passing day. Many people want to set up coworking spaces. You can contact Venture X Franchise if you also want to set up a coworking space in your area and earn its benefits. They offer unique office space franchise opportunities and the means and processes to help you succeed.

While the demand for coworking spaces is increasing, many such spaces are failing as well. Below are some of the common reasons why coworking spaces may fail:

Location

The location of your coworking space plays an important role in its success. If your space is in a rural area or a hard-to-access location, it may not do as well as expected. Most potential workers will not prefer your space as it takes a long time to reach. A far-out location also means that the coworking space will not have too many facilities around it. The lack of these facilities will also discourage workers from choosing your space. Coworking spaces become successful if they are in an accessible location and have restaurants and other modern facilities like a gym or convenient parking near them.

Technical Problems and Weak Infrastructure

While people like coworking spaces because it allows them to network and engage with other people, the primary reason why they come here is to work. As such, basic infrastructure and necessities are critical for its success. These include stable electricity, enough power outlets, charging stations, reliable and high-speed WiFi, and printers. You will lose workers if your internet speed is not fast enough, you don’t have enough charging stations, or you don’t have enough printers and other office gadgets and stationery. 

Layout

The layout and design of your coworking space also play a critical role in attracting workers. If your space allocation doesn’t take the people who will be working there into consideration, there is very little chance of people returning to the space. Ideally, your coworking space should be a combination of an open floor plan as well as private offices and meeting rooms. Having a rigid floor plan like traditional offices will discourage people from coming and working from the space. The physical design and environment of the office space also contribute to its appeal. If your coworking space doesn’t have an ergonomic design, is not well-lit, or has too much clutter, it will push people away instead of attracting them.

Limited Hours

Most people who work independently enjoy the flexible hours they get and the control they have over their own time. Most independent professionals today choose not to work standard hours. They plan their workload and schedules as per the time they have. Hence, it becomes critical for coworking spaces to have flexible hours and be available to workers during odd hours. If your coworking space is available between 9 am and 6 pm only, chances are you will attract lesser people. Ideally, your coworking space should be available at odd hours as well. You can ensure security by providing coded locks or key holder memberships. 

Lack of Amenities

Who doesn’t like free facilities? Any coworking space that provides additional amenities will work better than one that doesn’t. Modern amenities that today’s workforce expects include a cafeteria, occasional breakfast and snacks, a fitness center, meditation and yoga rooms, childcare, pet parks, and tea or beer on tap. If your coworking space doesn’t provide any of these facilities, then it is most likely not going to work.

Lack of Authenticity

Sometimes, coworking spaces may not have an identity of their own. They try to copy their competitors and other spaces in the industry. And in an attempt to look exactly like these large spaces, they forget to focus on the basics like infrastructure, amenities, and other facilities. If you want to be successful in the coworking space, then you should have your own set of values and policies. Set your brand values and work towards upholding them. You will organically attract more people over time.

No Sense of Community

Most people opt for coworking spaces because they give them a sense of community and allow them to network with other like-minded individuals. If your coworking space doesn’t create an atmosphere that encourages collaboration, then it will not be liked by people. You can create a sense of community by organizing various events that bring people together. From pizza parties and birthday celebrations to mentorship programs, there are many ways in which you can create a sense of community in your coworking space.

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Christopher Stern
Christopher Stern is a Washington-based reporter. Chris spent many years covering tech policy as a business reporter for renowned publications. He has extensive experience covering Congress, the Federal Communications Commission, and the Federal Trade Commissions. He is a graduate of Middlebury College. Email:[email protected]

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