The rules of the work environment are constantly being rewritten, and more freelancers and businesses are ditching the traditional office setup, for dynamic co-working spaces. It is predicted that by 2022 there will be over 30 000 co-working spaces worldwide. The average co-worker’s basic requirements are minimal; a desk, seating, and Wi-Fi. This makes it an ideal solution for restaurants that want to open up a new revenue stream.
Co-working spaces allow users to choose a place to work, which is shared by other professionals, for a set fee. Initially, co-working spaces were in offices, but with the passage of time other businesses, including restaurants have opted to offer their spaces too.
All too often, restaurants fold as a result of not getting enough customers throughout the day. They rely on their peak times to gain revenue and if their customer numbers during these times start dwindling, then the restaurant faces serious trouble. Another common practice in the restaurant industry is to close up during times when there are lulls in customer flow. This is generally done in consideration of the costs to keep the restaurant open and incur wage and other operational costs while there is not enough revenue coming in during that time period. However, instead of closing up, consider opening up your restaurant and allowing business people to set up and use that space as their office during that period.
According to a study by the freelance platform, Upwork, an increasing number of employers prefer to hire freelance workers. Communal working spaces afford solopreneurs an environment to interact with other business people, which is not always possible when working from home. This translates to more people seeking a flexible and comfortable environment to work from. Not allowing your restaurant to open its doors to co-workers, may mean you losing out on extra income.
Companies such as Spacious and KettleSpace can find you customers and manage the co-working space in your restaurant on your behalf. Starting at a minimal fee per month, their clients have various options for spaces where they can work from. After an initial interview to ascertain your restaurant’s suitability for their platforms, your restaurant will be listed as one of their venues. However, you can still manage your own space, provided you have a dedicated team member to assist with the co-workers’ needs.
In addition to the revenue from the space fee, you may also get an increase in sales if the co-workers choose to order food while working. In addition, if they share their experience with their network, you may have more customers coming to dine at your restaurant. Allowing co-workers to use your space may add to your user-generated content, as they may take pictures of your dishes or décor and post them online. If they enjoy the environment, they may choose to use your restaurant for other occasions such as events or dinner with friends.
As the working environment evolves, more freelancers and entrepreneurs are finding co-working spaces a perfect solution to their business needs. Offering your restaurant as a co-working space may increase your profitability as you usher in new customers and increase awareness of your brand.