The Secret Proportion:- The Ratio of Memberships to Desks - MySoho

Opening a coworking space can be a smart move in the current economical scenario as the number of small and medium-sized businesses selecting flexible, collaborative workspaces are increasing while the number of startups, independent contractors, and remote workers using space-as-a-service solutions is also on a rise.

As the real estate footprint of coworking spaces grows, commercial real estate titans, property management firms, and even in experienced employees are all entering the market.

Coworking operators may quickly and accurately see how total their dedicated spaces are with the help of the Coworks Occupancy function. Hence, it is crucial to understand how many of your offices, suites, workstations, etc. are reserved and how many are still available for rent, as well as additional specific metrics.

Even a space with a number of full-time desks quickly generates a variety of issues such as:

1. Your revenue becomes tied directly to your square footage which means an income ceiling will appear when you run out of space.

2. The majority of people are searching for occasional alternatives to the solitude of working from home and cafes rather than actively aiming to replace the workplace so having a waiting list of memberships can help but it’s still better to spread out your risk.

Memberships are Merely a Component of the Jigsaw. The potential connections and relationships affect the number of full-time and flexible choices that are offered, the design of the desks, and even memberships that have nothing to do with taking up physical space.

Here are a few figures to keep in view at all times:

1. Full-time memberships as a percentage of all memberships:-

Full-time members tend to be the most territorial so a ratio below 25% is generally focused upon. When a sense of ownership over this little slice of the place gets out of whack, the feeling of stagnation of a more transactional “office renal” mindset is targeted instead of targeting a community center mindset. Keeping this number under 25% prevents this from dominating the culture.

2. Full-time desks as a percentage of all workplaces-

Make an effort to provide more lounge areas, flex desks, and informal workspaces than dedicated desks. Start a waiting list when you run out of dedicated desks and urge anyone who wants a full-time desk to sign up for one of the flex memberships until a dedicated desk becomes available.

3. Availability of a workstation and full-time membership-

Not all the full-time members prefer dedicated desks-some actually like to move around and sit with different people since that’s a big reason why they choose a coworking space. However, the majority of the employees who work full-time opt to “claim” a desk where they can store their stuff.

4. Flexibility in memberships and desk availability are the Magic Ratios-

What are the chances that someone will enter and discover they have nowhere to work? That risk increases as we get closer to using all of our flex workstations because it is least dependent on your square footage, this is the magic figure to monitor and where your growth potential rests.

The ratio is far more straightforward than many of the complicated formulas and ratios that people concoct.

This idea may vary depending on your memberships and your community, but you will have lots of headroom for growth.

Conclusion-

Although running a coworking business is difficult, you may achieve your goals more quickly and smoothly if you have a thorough business strategy and stick to it. By providing your team with the best working environment, you can lift their spirits and enable them to reach their full potential.