The Benefits & Challenges of Co-Working and Shared Space with Megan Brown
This time I'm joined by my CPI co-conspirator Megan Brown. We talk through the lessons we have learned from operating shared coworking spaces over the last 5 years and share some of the customer facing stories that have stuck with us. We discuss the membership models we offer and how we have responded to customer demand. Our offer has evolved over time as we have learnt what works and what hasn’t worked for us. If you are starting out on a coworking journey then this episode should give you lots to think about. If you are already operating in this space then this episode will either have you laughing and nodding along to our trials and tribulations or at least laughing at our progress 😀 KEY TAKEAWAYS Co-working and shared space can be a valuable addition to a building, offering a mix of memberships and types of customers. Different membership options, such as part-time and full-time, cater to varying needs and preferences of individuals and businesses. Creating a sense of community within the shared space can enhance the overall experience for members and encourage retention. Offering additional amenities like meeting rooms, phone booths, and events can increase the value proposition for members. Leveraging day passes and partnerships with local businesses can attract new customers and enhance the overall offering of the shared space. BEST MOMENTS "It's like having a bar that has a membership. You're not just expecting people to walk in off the street." "I mean, work is such a big part of everyone's life. They always say that you see your work colleagues just as much as you see your family." "It's amazing that you can come in at half eight in the morning or something and there's an email saying, oh, by the way, there's another two people joining you today." "I think that's the thing, customers generally know what they want at the end of the day." JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors - https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/