Coworking spaces have revolutionized how people work, providing flexibility, cost-effectiveness, and a collaborative environment. They also help businesses increase revenue by optimizing space usage and attracting diverse professionals. The rise of remote work, freelancing, and startups has fueled the demand for coworking spaces globally. Professionals no longer want to be tied down to traditional office leases. Instead, they seek dynamic environments where they can network, access premium facilities, and work with greater freedom.
However, running a coworking space is not just about filling up desks. To build a successful business, you need to optimize revenue streams, maximize space utilization, and offer unique services that keep members coming back. The challenge lies in balancing affordability for customers while ensuring sustainability and profitability for your business.
If you’re struggling to boost income in your coworking space or are looking for innovative ways to scale your operations, you’re in the right place. This guide will walk you through five essential strategies that will help you increase revenue while creating an exceptional coworking experience.
1. Optimize Your Space for Maximum Utilization
Every square foot of your coworking space has revenue potential. The more efficiently you utilize your space, the higher your earnings. Simply having open desks is not enough. You must strategically design and allocate space to cater to different types of professionals.
Create Flexible Membership Plans
Not all members need a full-time desk. Some professionals may only require a workspace a few days a week, while others might need it for specific projects or meetings. Offering diverse membership plans, such as daily passes, part-time access, and monthly memberships, ensures that a broad range of professionals can access your space.
For instance, some people prefer working late evenings, while others only need a desk for a few hours. Creating time-based memberships that allow access at specific hours can attract more members without overcrowding your space.
Additionally, you can introduce corporate packages where businesses can buy multiple memberships for their employees, ensuring a steady revenue stream.
Implement a Hot Desking Strategy
Hot desking allows members to work from any available seat instead of reserving a dedicated desk. This concept significantly boosts space utilization as it prevents wasted seating and makes your coworking space feel livelier.
With a hot desking model, you can increase occupancy rates while ensuring that no space remains idle. To make this work efficiently, consider implementing a smart desk booking system, where members can reserve a spot in advance, avoiding conflicts or last-minute space shortages.
Make Use of Underutilized Areas
Are there corners or areas in your coworking space that are rarely used? Transform them into functional workspaces. Adding standing desks, small phone booths for private calls, or cozy work nooks can help maximize your available area.
Unused meeting rooms can be repurposed as private offices, brainstorming pods, or even podcast studios. The more efficiently you use every inch of your coworking space, the more revenue opportunities you create.
2. Offer Premium Services and Add-Ons
While membership fees form the foundation of your revenue, additional services can significantly boost your earnings without increasing your base costs too much. Offering premium, high-value services attracts business professionals, corporate teams, and digital nomads who are willing to pay extra for a better experience.
High-Speed Internet and IT Support
Every coworking space needs high-speed internet, but you can offer dedicated high-bandwidth connections, private VPN access, and premium IT support at an additional cost. Some businesses may require customized networking setups, and providing tailored solutions can bring in extra income.
Additionally, you can offer on-site tech support for troubleshooting, software installation, or cybersecurity consulting, ensuring a smoother working experience for your members.
Private Office Spaces and Meeting Rooms
Not all professionals thrive in an open workspace. Some need privacy for confidential discussions or client meetings. Providing on-demand access to private offices, meeting rooms, and soundproof pods allows you to charge higher rates.
You can also introduce hourly booking options for these spaces. A well-designed meeting room with premium seating, presentation screens, and video conferencing equipment can become a lucrative revenue stream.
Concierge Services for Professionals
Offering services like mail handling, business registration support, virtual office setups, and even receptionist services can differentiate your coworking space from competitors. Many small businesses, consultants, and freelancers need an official business address but may not require a full-time office. Providing these services helps you attract more long-term clients.
3. Host Events and Networking Sessions to Increase Revenue
A coworking space should be more than just desks and WiFi—it should be a dynamic hub for learning, collaboration, and networking. By hosting events, you not only foster community engagement but also unlock multiple revenue streams that enhance profitability and brand visibility.
Organizing Business Workshops to Increase Revenue
Hosting expert-led workshops, skill-building sessions, and industry-specific training programs is an effective way to increase revenue while providing valuable learning opportunities for members. These workshops can cover trending topics such as:
- Digital marketing strategies – Helping entrepreneurs and freelancers enhance their online presence.
- Financial planning for startups – Guiding small business owners on budgeting, taxes, and investment strategies.
- Leadership and productivity skills – Equipping professionals with tools to manage teams effectively.
- Fundraising for startups – Assisting new businesses in securing investors and grants.
You can monetize these events by:
- Charging a participation fee for attendees.
- Partnering with sponsors who fund sessions in exchange for brand exposure.
- Offering premium memberships that include free access to select workshops.
Partnering with Local Businesses for Mutual Growth
Strategic partnerships with local businesses can be a win-win strategy to increase revenue while providing value to members. Potential collaborations include:
- Cafés and restaurants: Partnering with food vendors for event catering, where they promote their brand while you earn a commission on sales.
- Tech startups: Hosting sponsored demo days where companies showcase their software or services to your members.
- Banks and financial institutions: Organizing investment or business finance seminars sponsored by banks seeking to attract new customers.
These collaborations not only create additional income but also strengthen your coworking space’s reputation as a business hub.
Renting Out Event Space to Boost Revenue
When your coworking space is not being used by members, your meeting rooms and open areas can serve as event venues for external clients. Renting out space for:
- Corporate training sessions
- Networking nights
- Private workshops and business meetups
- Startup pitch events
…can significantly increase revenue without requiring additional operational costs. Offering bundled services like A/V equipment rental, catering, and event management can further boost earnings.
By leveraging events, partnerships, and rental opportunities, coworking spaces can maximize their earning potential while fostering a thriving professional community.
4. Leverage Technology to Improve User Experience and Increase Revenue
Technology is a game-changer for coworking spaces, helping optimize operations, improve security, and enhance the overall member experience. By investing in the right tech solutions, coworking spaces can streamline workflows, reduce overhead costs, and increase revenue by attracting and retaining more members.
Use a Visitor Management System (VMS) like Onfra to Improve Security & Professionalism
A Visitor Management System (VMS) enhances security and efficiency by ensuring seamless check-ins and visitor tracking. Platforms like Onfra provide:
- Pre-registration & Digital Check-ins – Reduce front-desk congestion and improve first impressions.
- Automated Badge Printing – Strengthen security by providing visitors with instant access credentials.
- Real-time Visitor Tracking – Monitor foot traffic, improving space utilization and security compliance.
By enhancing security and professionalism, a VMS boosts trust and credibility, making your coworking space more appealing to businesses willing to pay a premium for a secure workspace.
Implement Smart Booking Systems to Maximize Space Utilization
Manual desk and room scheduling can lead to inefficiencies and lost revenue. A smart booking system allows members to:
- Instantly Check Availability – Reduce the risk of double bookings and confusion.
- Reserve Workspaces in Advance – Ensuring optimal space utilization and consistent occupancy rates.
- Automate Billing & Access Control – Increase revenue by charging for premium booking slots or extended meeting room hours.
By optimizing desk and meeting room utilization, coworking spaces can monetize every square foot while offering a seamless booking experience.
Mobile App Integration for Seamless Member Experience
A dedicated coworking mobile app can significantly enhance user engagement, leading to higher member retention and increased revenue. Features include:
- Workspace & Event Booking – Members can reserve desks, meeting rooms, and event spaces with a few taps.
- In-app Support & Community Engagement – Instant access to customer service and networking opportunities.
- Digital Access & Keycards – Offer app-based entry and remote access control, improving security and convenience.
A well-designed mobile app encourages long-term membership retention by offering a personalized and tech-driven experience, ultimately leading to higher revenue growth.
Technology is the Key to Increased Revenue
Integrating technology into your coworking space is not just about efficiency—it’s a direct path to increasing revenue. By enhancing security, optimizing bookings, and improving user experience, coworking spaces can attract more members, charge premium prices, and ensure long-term business growth.
5. Strengthen Your Community and Brand Presence to Increase Revenue
A strong community and a well-established brand presence are key drivers in boosting long-term memberships, referrals, and overall revenue for coworking spaces. When members feel a sense of belonging, they are more likely to stay longer, participate in events, and recommend the space to others—all of which contribute to increased revenue.
Creating an Engaged Online Community
To maintain engagement beyond the physical workspace, leverage digital platforms like:
- Social Media: Regularly post member highlights, success stories, and workspace updates to keep your audience engaged.
- Newsletters: Provide valuable insights, upcoming events, and exclusive offers to keep members informed and involved.
- Online Forums or Groups: Platforms like Slack, Discord, or LinkedIn groups allow members to network, share opportunities, and collaborate virtually.
An engaged online presence not only strengthens community bonds but also attracts potential new members who see your space as an active and thriving hub.
Encouraging Member Referrals to Increase Revenue
Word-of-mouth marketing is a powerful and cost-effective way to bring in new members. Encouraging referrals can significantly increase revenue by converting satisfied members into brand ambassadors. Implement strategies such as:
- Referral Discounts: Offer discounts on monthly memberships for members who bring in a friend.
- Free Access Days: Provide a free coworking day to those who refer new members, allowing prospects to experience the space.
- Loyalty Rewards: Introduce perks like extended meeting room access, free coffee, or exclusive event invites for members who refer multiple people.
A well-structured referral program incentivizes current members while continuously driving new sign-ups, helping you sustain revenue growth.
Building a Strong Brand Identity to Attract More Members
Your coworking space’s brand identity plays a crucial role in attracting and retaining members. A professional, well-designed brand builds trust, differentiates your space from competitors, and creates a lasting impression. Consider the following branding elements:
- Visual Identity: A distinctive logo, color scheme, and modern workspace aesthetics contribute to brand recognition.
- Consistent Branding: Ensure uniformity across all platforms—your website, social media, promotional materials, and physical space should reflect your brand’s values and mission.
- Storytelling & Brand Messaging: Clearly communicate what makes your coworking space unique, whether it’s community-driven events, flexible pricing, or premium amenities.
A strong brand presence helps coworking spaces stand out in a competitive market, leading to higher occupancy rates and increased revenue.
By fostering a thriving community, leveraging word-of-mouth marketing, and reinforcing your brand identity, coworking spaces can significantly increase revenue while maintaining long-term member loyalty.
Conclusion
Growing a coworking space is not just about getting more members. It’s about optimizing space usage, providing premium services, hosting engaging events, integrating technology, and building a strong community. By implementing these strategies, you can maximize revenue while creating a space that professionals love to work in.
FAQs
- How do I attract more members to my coworking space?
Leverage digital marketing, host events, and offer flexible pricing plans. - What are the most profitable services for coworking spaces?
Private office rentals, meeting rooms, IT support, and event hosting. - How can technology improve coworking space efficiency?
A VMS like Onfra, smart booking systems, and mobile integrations help streamline operations. - What’s the best way to price coworking memberships?
Offer tiered pricing based on accessibility, duration, and premium services. - How can I build a strong coworking community?
Encourage networking, run social events, and engage members online.
A subject matter expert in facilities, workplace, culture, tech, and SaaS, I create impactful content strategies that enhance startup retention and foster strong connections. With a blend of technical expertise and creativity, I drive engagement and loyalty. Always eager for challenges and make a lasting impact.