The issue of your coworking center’s location should be your number one priority. The house market is skyrocketing pricey at the moment in city centers, so moving to suburban areas can be an option. Beware this choice can exclude a part of your targeted clients; some will indeed prefer to remain in the very centre of the city.
Budget dictates your location
Let’s be honest: if you have the money, you can set up your coworking space in town. Otherwise, you should rather look for a place in the outskirts for more affordable prices.
Setting up your coworking space in the city center
Downtown is definitely the ideal location to set up your coworking center. You will profit from optimal public transport and top technological infrastructures (fiber networks are generally first installed in city centers) alongside with a proximity to other companies. These features are crucial to the development of your community of coworkers and to promote social cohesion. If you want to settle in center town, do not forget to target the area where you want to establish your coworking center.
The best neighborhoods to establish your coworking center in New York?
When setting up a coworking center in New York City, you definitely need to think ‘strategically’. Where is the business done? Obviously, Manhattan is crucial because it’s the business center (most existing coworking centers are located in the Lower East side, Gramercy park, Midtown neighborhoods). Brooklyn is recommended because it’s stylish… (and you get that boho vibe). Lastly, Harlem is the new hot spot because of its unique ambiance and because of its ‘melting pot’ characteristic (along with the creativity vibe).
Where to set up your shared offices in London?
The main issue in establishing a coworking center in London is definitely the price. It is extremely expensive to rent out in the city center. And frankly, even outside the core of London it is extremely difficult to propose an acceptable service (and place) at an affordable price. Why not trying south London? Fewer coworking spaces are established over there. It probably is the best option to exploit.
What are the best arrondissements in Paris to build a coworking space?
If you are looking for a large space you should definitely try out the 10th district. It has been undergoing a gentrification process which has drastically changed the neighbourhood. Although some areas are still considered unsafe (around the two main train stations ‘Paris Nord’ and ‘Paris Est’), the Canal Saint-Martin area is the hot spot to attract young and dynamic recruits seeking for a very unique Parisian experience. The 19th district is an alternative, the Canal de l’Ourcq area is popular and the rents are rather fair. The 11th district is a good option if you are aiming at a cool and rather hipster client base. Indeed, it is the area where graphic and web designers work, but also plastic artists and web developers. The 13th district has a very unique identity. It is by far the less homogenous district in Paris as far as architecture is concerned. This basically means that you have a wide range of ambiances to decide on. Either you are looking for a village-like and cosy place then you should bet on the “Butte aux Cailles” area (by the Place d’Italie). Or you prefer new age architecture and then we would recommend the Bercy and Bibliothèque Nationale area.
Beware of prices … and potential competitors!
Downtown’s main inconvenient naturally is the absurd house market price which will represent a larger investment than a place in the suburban area. Provincial towns are not spared: opportunities and atypical spaces are taken over in Lyon, Marseille, Nantes or Bordeaux, and so become extremely expensive. Another downside of settling in the city center is the perhaps heavy competition you will face. Coworking is becoming more and more popular! For example, Paris already counts about a hundred coworking spaces!
Pros to coworking in periphery
The suburban area holds strategic appeals to welcome your coworking space: real-estate opportunities (affordable and numerous), a more serene environment, and in most places a growing economic tissue. You will also capture coworkers reluctant to move to the city centre. Think “practical” and profitable: if you are going to settle in periphery then look for a location with a parking lot. Your driving coworkers will thank you for that!
Settling near a metro station
Tip: you should settle your coworking centre at the end of a metro or tramway line. You will then be at the junction between city center and periphery, enabling your members to come to your coworking center wherever they live.
Where to build your coworking space? Avoid hot or dead spots!
If you establish your coworking center in periphery, you will maybe face a dormitory area where economic activity is pretty low. Analyse the territory you want to invest. Spot the large companies present in the area (your city’s CBO would be a great spot for example) and look around for the shops and restaurants nearby. Also check on the delinquency rate in the area.
