How To Operate 24/7 Coworking Spaces Successfully [2024]

Around-the-clock access to workspaces is becoming increasingly important for freelancers, entrepreneurs, and remote workers with unconventional schedules and diverse needs.

But how do you effectively create and operate a 24-hour coworking space that meets the needs of your members and stands out from the competition?

In this article, we discuss everything you need to know about creating and operating a coworking space 24/7. This includes different ways to run these spaces, member access considerations, and tools that can make managing your space easier.

Quick Summary:

• A 24/7 coworking space is a shared office environment where members can work all hours of the day and night.
• These spaces are becoming increasingly popular due to many employees’ and freelancers’ flexible schedules.
• Several key steps are involved in creating and operating a 24/7 coworking space, including determining membership plans, choosing the right tools, and onboarding members.

What Is a 24/7 Coworking Space?

A 24-hour coworking space is a shared office environment that members can access at all hours, day or night. It includes access to dedicated desks, meeting rooms, private offices, and more.

The number of coworking spaces worldwide is expected to reach nearly 42,000 by the end of 2024 — more than double the number in 2018.

Increased competition in the coworking space realm will make it difficult for your space to stand out among potential customers and keep good occupancy rates if you don’t create a unique selling point — such as 24-hour access.

Who uses 24-hour coworking spaces? Let’s take a look:

• Freelancers: Independent professionals who rent desks to get their work done in a productive environment instead of at home.
• Remote workers: Employees of larger companies who need a local work environment but don’t need to commute to the central office.
• Startups and small businesses: Companies that may not have big offices and need flexible office solutions to grow. Incubator spaces are a perfect example.
• Professionals who travel often: Sales workers, company photographers, or event managers who frequently travel.

24/7 coworking spaces allow members more flexibility while giving them the working amenities and networking opportunities they need — making these spaces highly attractive.

Benefits of Operating a Coworking Space 24/7

There are several benefits to offering 24/7 access to your coworking space members. Here are a few of them:

• Increased revenue potential: Attracting a broader range of members, including those with unconventional schedules, could lead to more customers and increased revenue since you’ll bring in full-time members and drop-ins.
• Market differentiation: Setting your space apart from competitors who are only open during certain times of the day can be a unique selling point that helps you attract members looking for more flexible working spaces.

• Higher member retention rates: Meet the needs of your members, regardless of their schedules and whether they’re night owls or early birds, to increase member satisfaction and retention.
• Scalability and growth: A positive member experience, market differentiation, and word-of-mouth from loyal members can help you expand to new locations.

4 Ways to Run a 24/7 Coworking Space

It can be tricky to provide 24-hour access to your one space, let alone across multiple franchise locations. . Most 24/7 coworking spaces have four methods of making this possible:

1. With a Community Manager On-Site

This method involves having one manager oversee your coworking space. However, it isn’t often used because the high salaries can significantly impact profits.

2. Without a Community Manager On-Site

With this method, the space is open 24/7 but is not monitored by anyone. Members can check in and pay their invoices with coworking management software.

Such software, for example, is OfficeRnD Flex:

This setup is the most autonomous, saves you on costs, and frees up time for you to focus on more hands-on tasks.

3. Partly Observed

Here, the space is open 24 hours a day; however, managers only check it during certain times, such as regular business hours (e.g., from 9 to 5).

In this case, only full-time members can access the space at odd hours of the day, and they don’t receive additional support during these hours. Members with day passes and those in a low-tier plan only get access during regular hours.

4. Partly Open

Partially open coworking spaces make some parts available 24 hours a day, while other parts, such as conference rooms, are only open during regular business hours. This method can also be combined with partially monitoring the space.

What Should You Keep Accessible in a 24/7 Coworking Space?

As discussed above, some coworking operators prefer keeping parts of the space open during all hours while closing the rest after certain times. Here’s what we recommend keeping open outside of working hours:

• Dedicated desks and workspaces: These desks are usually in open seating areas and should be available at any time of the day.
• Private offices: Full-time members or those in your highest membership tier may have their own offices. These offices should be treated like individually “leased” spaces and accessible to such members at all times.
• Meeting and conference rooms: Meeting and conference rooms are usually locked after business hours. However, if you realize that many of your members visit your coworking space at night, you could also consider keeping these spaces open during specific nighttime hours.
• Printing and scanning facilities: For security reasons, you may remove access to your printing and scanning facilities after business hours. However, if you have high-paying members, consider keeping these facilities open to them after hours with special access controls.

Important Factors to Consider When Operating a 24/7 Coworking Space

As with any business, things can go wrong in coworking spaces.

However, if you make your space safe and plan for unexpected problems, you can quickly mitigate risks and resolve various issues.

Here are some of the main factors to consider when operating a coworking space 24/7:

1. Security

Security should be one of your main (if not the biggest) priorities if you operate a 24-hour coworking space. You must ensure your space is safe and secure so members can get work done without worrying about their safety.

You can make your space safer by:

• Having well-lit entrances and exits
• Integrating an alarm system and monitoring access to all entrances and exits
• Installing cameras both inside and outside the building
• Having only one door open for access after standard working hours
• Not allowing member guests to stay after certain times of the day

One of the best ways you can provide seamless access control to your members is with a digital security platform such as Kisi.

2. Employees

Consider what staff you’ll need and when you’ll need them (such as after hours). Your staffing level will ultimately depend on your location and membership access.

If the majority of your members visit the space during working hours, you may decide to have a manager present from 9 to 5 every day and a security guard patrolling during the evenings.

Or perhaps you have members you trust and have a good relationship with. In that case, you could consider giving them additional space benefits, such as access to certain facilities, in exchange for keeping an eye on things.

Remember that if your coworking space is in an area that requires additional security, you’ll need to consider limiting 24/7 access to only your highest-paying members.

3. A Plan for Crisis Management

If you’re used to running a coworking space where the operating manager is always on-site, shifting to a 24/7 model may bring some challenges:

• If something happens in the middle of the night, who should handle it and how?
• How will your members know who to contact in an emergency?

You need to consider who will handle these situations and have a solid plan of action in place. Here are the steps you’ll need to take:

1. Establish a clear emergency plan by appointing contacts and defining protocols
2. Communicate and onboard your members effectively so they know what to do in these situations
3. Run regular emergency drills and ask members for feedback on what can be improved

How to Create and Operate a 24/7 Coworking Space

Now that you know what factors to consider and the benefits of a 24/7 coworking space, it’s time to determine how to create and operate it. The required steps are as follows:

1. Determine Your Membership Offerings and Plans

Decide what you’ll offer to your members and at what rate. What amenities will you provide? Will all members have access to all spaces, or will you have different plans available?

Here’s an example of a tiered membership plan that provides different levels of access:

• Day Pass: $35/day, accessible from 7:00 am to 7:00 pm
• Starter Plan: $150/month for up to 5 visits per month, available from 7:00 am to 7:00 pm
• Professional Plan: $250/month, offers 24/7 access with a flexible hot desk arrangement
• Executive Plan: $400/month, provides 24/7 access with a reserved dedicated desk and additional amenities, like locker storage and priority booking for meeting rooms

Also, decide which spaces are off-limits at certain times of the day so that members know what to expect. This information will make marketing your coworking space much easier.

2. Get the Right Tools

After determining membership plans and access, consider which technology and resources you’ll need to provide for members to work effectively. This includes access control and security systems, high-speed internet, and management software.

Software like OfficeRnD Flex can help you manage your 24/7 coworking space with the following features:

• Booking and resource management: With OfficeRnD Flex, your members can book meeting rooms easily. You can implement booking policies and, based on your membership plans, only allow certain members access to these rooms.
• Billing and payment systems: You can automate your billing and payment processes to get paid faster and easier. You won’t have to worry about complex spreadsheets or endless paper trails.
• Access control: You can integrate with access control systems to manage which members can access your space at which times.
• Reporting and analytics: You can track space usage and member activity to optimize the use of your space. Plus, you can generate detailed financial reports to monitor your revenue.
• Contract management: You can create and send contracts to your members and keep everything in one place for easy reference.

3. Create Rules and an Onboarding Plan

Establish clear rules so your members know what’s expected of them regarding the following:

• Respect and courtesy
• Noise levels
• Cleanliness
• Use of equipment
• Access
• Visitor policies

Ensure you notify your members of these rules and onboard them properly by sending welcome emails and digital copies of the membership agreement.

Also, make sure your staff takes new members on a tour of the space on their first day so they know where everything is. Finally, inform your members of emergency procedures.

Use OfficeRnD Flex to Manage Your 24/7 Coworking Space

Creating and operating a successful 24/7 coworking space can be highly beneficial in various areas, from standing out in the market to retaining members. However, doing all the necessary work manually can also be very time-consuming.

Using software like OfficeRnD Flex will allow your members to easily book meeting spaces, help you get paid faster, and provide valuable analytics so that you can improve the customer experience and make data-driven decisions.

FAQ

Is Coworking Space a Profitable Business?

According to recent data from Sharpsheets.io, the average coworking space provider earns $742,000 in annual gross revenue.

This, combined with coworking spaces holding excellent opportunities for expansion and growth into new locations, makes these spaces a highly profitable business model.

How Do You Attract Customers to Coworking Spaces?

You can attract members to a coworking space through digital and traditional marketing strategies. For example, you could host local events, have regular free coworking days, optimize for local SEO, or use paid digital advertising.

Who Is the Target Market for Coworking Spaces?

The target audience for coworking spaces includes remote workers, freelancers, small businesses, startups, and professionals who often travel. These groups seek flexible workspaces to work independently or with their teams.

How to Automate a Coworking Space

To automate a coworking space, implement smart access control systems, automated booking and billing software, and IoT devices for monitoring and managing facilities. This streamlines operations, enhances security, and improves the overall user experience.