Revenue Diversification in Coworking Spaces

The 2019 document recorded ideas generated during an interactive workshop led by David O’Coimin and Kasia Wojnar on diversifying revenue in coworking spaces. It presented a practical list of possible products, services, partnerships and cost-saving arrangements rather than quantitative research or measured financial results. Suggested revenue sources included events, corporate consulting, community-management training, food and beverages, baggage storage, meeting-room add-ons, telecommunications, legal and notary support, furniture sales, parking and sponsorship. The workshop also considered locally differentiated partnerships with businesses such as breweries and coffee roasters, as well as specialist spaces and communities focused on sectors including retail, fintech and maritime activity. Further proposals involved maker spaces, data access for developers, opt-in product testing, and third-party wellbeing services offered through membership packages or commission agreements. The document also described members as potential suppliers of discounted services to one another and to the coworking operator. Sponsorship concepts included branded workspace features, sponsored events and practical clinics covering subjects such as accounting, law, intellectual property and banking.

Key findings

• The workshop identified events, corporate consulting, training, food and beverages, baggage storage and meeting-room add-ons as potential revenue sources.
• Partnership ideas included local producers, member-supplied services, legal support, furniture sales, parking and third-party wellbeing services.
• Sponsorship proposals included branded workspace features, sponsored events and clinics on accounting, law, intellectual property and banking.

Presented at Coworking Europe 2019