![]() ![]() You can compare plans from major providers servicing your area, including Spectrum, Atlantic, and Comcast, to find the right fit for your needs. Business Services Connect is a telecommunications cooperative that offers an instant-locator tool to help you find communication providers for your location. One thing that can make or break an office space is access to reliable internet, phone, and network services. Use a broker as well as do your own research. Brokers are either listing brokers or tenant-brokers, which can help identify properties, schedule walk-throughs, and negotiate leases. Your model needs to be considered and strategized based on the membership base you want to attract.įor more information on how Yardi KUBE is designed to power coworking spaces of all sizes, please click here.You can find and lease office space for rent by identifying spaces through online listings or brokers that meet your business’ current needs, budget, and potential for growth. Are they going to need meeting rooms often? Are you going to need to upgrade your technology and factor that into the buildout? Private offices are much more important to your success than hot desks, due to the high turnover rate you’ll experience.Īlso, keep in mind the volume of virtual members you currently have or the amount you’d be capable of reaching. The longer you can lease these private offices, and the more you lease consistently, the more profitable you will be. If you’re trying to beat another coworking space for members, then maybe shrink the space per office to fit more in total. But if the goal is to beat a serviced office competitor, start out larger (closer to 100 square feet). The first-always keep in mind that the serviced office industry is very successful if that’s your main source of competition, whether it’s in your building or in your immediate neighborhood, adjust your space as needed to beat the competition.įor example, keep in mind that you can have private offices as small as 60 square feet. There are, of course, factors to consider outside of the basic percentage breakdown there. If you have space for bench seating in the kitchen, definitely add it. A quality kitchen will serve as a gathering spot and a relaxing area. Allocate about 400 square feet of this to the kitchen, which is a very important asset in your space. Seems pretty self explanatory, as far as needing halls, walkway space, restrooms and storage rooms. Let’s say the remaining 1,750 square feet is allocated to all these miscellaneous areas. ![]() 15% to 20% on Corridors / Kitchen / Storage / Restrooms / Wait Area To further break it down, you could split this into about 28-30 hot desks, about 18-20 dedicated desks, and if you want to include about 100 square feet of private phone booth space, that would accommodate about 4 of them. ![]() So, about 2,000 square feet of your space would be open desk space. Research over the years tells us if more than 20% of the space is dedicated to open coworking space, it will create an inefficient floor. Additionally, you should have one large room dedicated to big projects, which could fit around 14-16 people at approximately 450 square feet.Ģ0% on Coworking Space (Open Floor Plan With Desks) Consider maybe 150-160 square feet for a 6-7 person meeting room. You probably want to go no smaller than 120 square feet for a 3-4 person room. So let’s say you allocate about 1,250 square feet to meeting rooms. 10% to 15% on Meeting Space / Huddle Rooms Using an average of about 120 square feet per office, this would give you space for about 40 total private offices, ranging anywhere from one person to about 6-7 people. Some will be individual offices and some will be team offices. Make sure you build out a variety of sizes. This would be about 5K square feet of offices. In a space this size, let’s break down how you can organize and build out your space. So let’s take into consideration a 10,000-square-foot space. All-women spaces, child-friendly spaces, boutique-style coworking, among others. However, with a space this small, you could be diving into an even deeper niche. It is a great way to get your feet wet in the industry with minimal risk and the option to grow if and when you want or need to. There are plenty of coworking spaces that start at under 5,000 square feet however, they often provide access to additional spaces in the same building. Should you consider a small space to get started in the industry as a newcomer? Absolutely. ![]()
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