Coworking spaces have exploded in popularity over the past few years and are almost considered the new normal for most entrepreneurs. As a savvy broker, if you’re looking to make a play in the realm of startups and find the next business superstar, coworking spaces are where it’s at.
They are growing pools of entrepreneurial genius and potential, just waiting to be tapped. By creating solid relationships with up and coming clients in the early stages of their business, you position yourself as a trusted resource when that business grows. Fostering early relationships like this helps make way for more lucrative partnerships down the road.
Benefits of Working with a Coworking Space
Remember that rising tides lift all boats and there are a variety of ways brokers can benefit by partnering with a coworking space. Referral commissions for bringing in new clients is one example of a great perk that many locations offer.
No matter how involved you decide to be through the actual process, you essentially own the relationship and are compensated accordingly. You may also win brownie points with your client by offering them alternatives to the standard office and all the associated costs and risks.
Coworking spaces are renowned for offering clients superior flexibility when it comes to leasing terms, while still leaving plenty of room to grow. Many expansions and renewals are even built-in as part of the program.
Plus, coworking spaces are move-in ready. This is an attractive selling point for your clients that are looking to move fast but don’t want to invest in getting a place ready to meet their needs. It’s like you’re offering them an “office in a box.”
Another appealing aspect of brokering coworking spaces for your clients is that it gives you the ability to help them make waves in new locations they couldn’t otherwise penetrate, due to high real estate costs.
How do you do this? By offering them affordable, flexible options in a shared office environment, tailored to suit their unique needs. If that shared office space happens to be in a premium location for a market they want to break into, even better!
Look to Your Future
Always keep in mind that business is all about building relationships and making connections with people. This is particularly true in the startup sector. Entrepreneurs can be a funny lot.
By brokering coworking spaces for your clients during their startup phase, you can set yourself up to be their go-to person when they begin to outgrow it and need to find a more traditional office location. This is because you’ve already built that initial base of trust and rapport. The next step is fostering a long-term relationship that can evolve as the business evolves.
Remember that companies like Timehop, Instagram, and even Uber once operated from a shared office before moving up into a dedicated office space. Who’s to say you won’t find the next big startup poised to take over market share?
Ultimately, the main draw for most companies considering a coworking space for their base operations is the extreme flexibility that’s possible. Coworking membership packages can be tightly tailored to suit their business needs.
Couple that with a vibrant community, a sweet location, amenities your clients can take advantage of, and affordable pricing, and you’ve got a perfect package that virtually sells itself.
Reach out if you would like to learn more about our broker partnership program!