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Do you know what space utilization is? More importantly, do you know why it matters for your coworking space?
In this Coworking Quick Tip, we’ll explain what space utilization means, why it’s essential to the success of your coworking space, and how you can improve the utilization of your coworking space using data-driven and tested tactics.
Space utilization: According to OfficeSpace, space utilization refers to how efficiently your coworking space is being used based on occupancy, booking rates, and time-based usage patterns. This helps you maximize revenue and improve member satisfaction by ensuring that space is neither under utilized nor overcrowded.
1. Leverage booking and occupancy analytics
If you’re using coworking space software like Optix, then you can access real-time occupancy and space usage trends. In fact, access to robust data and analytics is one of the greatest benefits of using coworking technology in your space.
Use the data you have available to you to identify underutilized areas and adjust layouts, seating arrangements, or offerings accordingly.
2. Offer flexible membership plans and on-demand access
Part of utilizing space efficiently is having membership plans that fill a variety of needs for a variety of different people. Introduce part-time and virtual memberships to attract remote workers or corporate clients.
You may also want to consider providing pay-per-use or time-based booking options to increase desk utilization. For spaces like Brooklyn Hourly Offices, their whole business is on-demand hourly bookings – and it works perfectly for their ideal customer profile (ICP).
3. Optimize desk layouts and product offerings
If you want people to be using your space efficiently, you need to ensure you’re offering things they actually want. Test different seating arrangements (hot desking, booth-style seating, dedicated desks) to see what members respond to most.
You may want to consider using modular furniture to reconfigure spaces based on needs and avoid large-scale buildouts after opening.
4. Repurpose under utilized spaces
Convert rarely used areas into high-demand spaces like phone booths, focus pods, or event areas. If you have an underused office, you can turn it into a podcast room (or vice versa!) to increase utilization of the space.
This is another great opportunity to use the data you have available in your technology platforms to identify underutilized spaces and reassign them accordingly.
5. Open meeting and conference room bookings up to the public
Meeting rooms and conference rooms are in high demand as remote workers seek out gathering spaces for the occasional meeting. If your meeting rooms are being underutilized by your community, you can open up bookings to the general public (non-members) as well.
Not only can this help increase the utilization of your coworking space, it can also serve as a marketing tactic and a way of generating leads for your business.
Start optimizing your coworking space today
Increasing space utilization can help you improve operational efficiency and enhance member satisfaction. By embracing some of the tips written here, you can begin to create a thriving, efficient, and adaptable space that meets the evolving needs of your community.
Want to learn how Optix can help you better track and optimize your space utilization? Reach out to a member of our team today…we’d love to chat!
Run your coworking space with Optix
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