I’ve been keeping an eye on the trend of people moving from crowded city centers to more spacious and affordable suburban areas, and the impact this shift is having on coworking spaces is fascinating. In “From the City to the Suburbs: The Benefits of Opening a Coworking Space Outside of the City,” it’s clear that there’s a growing opportunity for coworking providers to venture beyond urban locations. Not only are real estate and operational costs generally lower in the suburbs, but these areas can also offer a stronger sense of community that’s great for networking and collaboration. By providing amenities like convenient parking, outdoor spaces, and family-friendly facilities, suburban coworking spaces can meet the unique needs of local workers. However, balancing multiple locations, like some successful operators do, means navigating different market conditions and local regulations. With thorough market research and community engagement, moving coworking spaces to the suburbs could be just the thing to meet modern workers where they are. Have you ever wondered if opening a coworking space outside the hustle and bustle of the city could be beneficial?
From the City to the Suburbs: The Benefits of Opening a Coworking Space Outside of the City
The Move to the Suburbs
More people are moving from their cramped city apartments these days and into bigger (and often cheaper) spaces, and employers are following them. The suburban migration can be a perfect fit for coworking providers, considering that our industry is about flexibility and meeting workers where they need to be.
Cost Efficiency and Operational Benefits
One of the first benefits that come to mind is cost. Generally, real estate and operational costs are significantly lower in the suburbs than in large cities. This can mean a lower barrier to entry and better profit margins. With fewer competitors, at least for now, you have a unique opportunity to carve out a niche in this emerging market.
Community and Collaboration
Smaller communities often have a strong sense of identity and camaraderie. In a coworking space, this can translate into richer networking opportunities and more organic collaboration. It’s easier to build a tight-knit, supportive community when you’re not one of many vying for attention. Plus, suburban amenities like parking, childcare services, fitness centers, and restaurants usually come easier and can add significant value to the member experience.
Balancing Urban and Suburban Locations
Some operators have managed to offer both urban and suburban locations, which can provide flexibility for members and increase the overall reach of the business. This requires careful planning as managing multiple locations can be tricky. You’ll need to handle different local regulations, market conditions, and brand positioning, and allocate resources wisely.
The Importance of Market Research
Before diving into a suburban venture, it’s essential to conduct thorough market research. This includes online research, visiting local workspace alternatives, and engaging with the community. This preemptive work will help ensure that your coworking space meets local needs and is well-received.
Factors to Consider When Moving to the Suburbs
As you explore whether the suburbs should be the next workspace home for your members, here are some critical factors to consider:
Member Needs
Members in suburban and urban areas have different needs in a coworking space. Suburban members often seek flexibility and convenience, such as working close to home with free parking, outdoor spaces, or family-friendly amenities. In contrast, city members tend to prioritize networking opportunities, walkability, and closer proximity to business districts.
If your members enjoy city life, you can still attract them to a suburban workspace by offering a shorter commute. Opt for locations within 20-30 miles of the city or within a 30-60 minute travel distance if it’s a major city. Locations near public transportation, restaurants, and shops are often desirable. Placing your coworking space near a town center or popular retail complex could offer visibility, accessibility, and convenience.
Costs
Real estate is typically less expensive outside major cities, but you may have to make some tradeoffs. Lower rent can reduce your startup and operational costs, but renovation or construction expenses could be higher, depending on the condition and suitability of available properties. You may also need to invest more in marketing and advertising to educate residents on the benefits of coworking and attract new members.
Amenities and Hours
While amenities and hours might be similar to urban locations, some adjustments may be necessary to meet local needs and preferences. For example, there might be a higher demand for smaller private offices or meeting rooms and less for team offices. Access demand for the space can also differ, with some markets valuing weekend access over a 24/7 opening throughout the week.
Suburban coworking spaces may offer different amenities like more outdoor areas and family-friendly facilities.
You’re Moving In – Now What?
Even in the suburbs, you’re likely to encounter some competition, albeit less direct than in the city. It’s crucial to be sensitive to local dynamics and seek ways to collaborate with area businesses rather than compete with them. Coworking spaces can complement local businesses by offering additional services and collaboration opportunities.
To be seen as a valuable addition to the community (not just another business), extensive outreach is essential for integrating into the populace, building brand awareness, and attracting diverse members.
Community Engagement
The key is to give before you ask. Demonstrate your commitment to the community and respect for local traditions and values. One effective way is to incorporate local history into your space. Work with a local artist to create a mural that reflects the area or name your breakout spaces and meeting rooms after local landmarks or cultural touchstones.
Future-proofing Your Space
No matter where your coworking business is located, it’s important to “future-proof” the design of your flexible workspace. Focus on versatility, usability, sustainability, and technology integration. Adding some local community flair can make your space appealing to nearby modern professionals and align with future work trends.
Engaging with Local Businesses
Collaborating with local businesses can be a game-changer. This could include forming partnerships with nearby cafes, fitness centers, or childcare services. Offering your space as a venue for local events or workshops can also help raise your profile and integrate you more deeply into the community.
Marketing and Promotions
Suburban areas might require more targeted marketing and educational campaigns to inform people about the benefits of coworking. Attend community events, sponsor local activities, and use social media to engage with potential members. Host open houses and free coworking days to attract newcomers and give them a taste of what you offer.
Consider a mix of traditional and digital marketing strategies. Local newspapers, radio stations, and community bulletin boards can be effective, alongside online ads, email newsletters, and a robust social media presence.
Final Thoughts
Opening a coworking space outside the city could be a golden opportunity waiting to be seized. Lower costs, less competition, and a strong sense of community can all work in your favor. However, success requires careful market research, understanding the unique needs of suburban members, and a commitment to genuine community engagement.
By considering these factors and strategies, you can create a thriving coworking environment that not only meets the needs of remote workers but also enriches the local community. Whether you’re moving from the city or starting fresh in the suburbs, the potential benefits are substantial. So, why not take the leap and explore this exciting frontier?
