How to Reopen a Coworking Space After COVID-19 Crisis

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While a lot of countries are still fighting to subdue the coronavirus COVID-19, we finally started to see the light at the end of the tunnel.

First of all, people do recover from coronavirus disease.

Tom Hanks and wife Rita Wilson returned home to the US from Australia in late March after recovering from coronavirus.

Secondly, countries are containing the spread of Covid-19.

Singapore managed to contain the spread of the virus by acting fast, without imposing the draconian measures seen in China.

Thirdly, doctors all over the world are working on a cure and achieve certain success.

In China and Japan, doctors have had promising results using blood plasma from people who have recovered from COVID-19 to treat newly infected patients. The technique could also be used to boost the immunity of people who are at risk of catching the disease.

Big countries like the US, are entering the peak of the pandemic which means that we can anticipate the infection recession.

All the above signs tell us that shortly governments will let people resume their normal lives. So, it's time to prepare for coworking spaces to reopen and welcome members back.

It will be easier for you to restart your business if you followed crisis management recommendations and maintained community spirit. Besides, I this article, am going to supply you with actionable tips and new business models that will help you increase revenue in the post-crisis market.

Understand that Coworking Economy Will Change After COVID-19

Coworking operators know that coronavirus crisis will end, however, it would be naively to expect that life will go back to how it was before the pandemic. At present we have both health and economy impaired by the disease, so we need to admit that this crisis will change the world economy, international trade, and society.

The positive moments are woken up social solidarity, a greater sense of nation, the need to be supportive, participate in charity programs, and perform the higher social mission. Coworking spaces can help their residents with all these points.

Though, businesses and individual entrepreneurs will need some time to renew their income as the Covid19 crisis has drained their resources. What's more, companies adopted work-from-home models and won't hurry back to the offices where they need to pay rent. Besides, people will be concerned about possible disease recurrence.

This means you will need to review your pricing policy, target audience, and marketing strategies to put your coworing center back on rails.

Alternative Ways of Getting Revenue for Coworking Spaces

The consequences of the COVID-19 pandemic are threatening but I suggest you view them as positive challenges that will force you to be creative and inventive in search of unique deals that will turn the table of the outbreak for you and your tenants. Reassess your services and craft new solutions and alternative business models to prevent the possibility of another virus outbreak and address the urgent needs of your community.

Virtual coworking subscriptions are the way to go in time of the post-crisis recession. The price of the plan will be affordable as members don't come to the workplace. Still, they will have their virtual office rented, get virtual mail services, and enjoy the coworking perks such as business curation, IT support, access to online educational resources, participation in online community events (yoga classes, online breakfasts), Zoom conferences, etc.

First of all, if you started to pay more attention to the digital marketing of your coworking network, continue the winning practice. After the coronavirus crisis, the subtle borderline between virtual and real life will become even more inconspicuous. So, continue to write and share blog articles, shoot videos, record podcasts, in a word, use all available digital marketing channels to promote your coworking brand.

Next, market to companies that are reluctant to renew traditional leases due to uncertainty. Approach them with your innovative offers.

Market to corporates. Companies have adjusted to remote work and see that their employees can stay productive even when they don't spend the full day at the office. You can offer corporate prospectives irresistible deals where they can relocate their teams to coworking spaces, which will increase their productivity even more, make them happier (thanks to the community vibe) and healthier. And the best thing is that a private office membership will be more than affordable compared to the traditional office.

Nobody doubts now that automation and digitalization is the future. If you still don't have a coworking space management software that allows remote bookings via classy mobile apps on members' smartphones, grab it asap.

Remember that the COVID-19 pandemic changed our behavior and way of thinking. A member will prefer to avoid coming to the reception just to reserve a meeting room. You must provide them with another, close contact-free option.

Learn your quarantine lessons and start to utilize coworking community communication tools to maintain engagement, facilitate community building, and prevent isolation/loneliness of your members.

Besides, the workspace management system will let you automate a bunch of tedious tasks (from customer management, communication and support to payment and even printing), which is also important as technology efficiently reduces human working hours and saves you some cash.

Prioritize Members' Health Even More than Before

Covid19 has taught us many lessons. Now you know how to make your coworking space a safer place for residents and stop the spread of any virus. Simple things can save many lives, so even after reopening your coworking locations, it's worth to stick to the common-sense rules you have already got used to.

Conclusion

I hope you find the above tips on restarting a coworking business helpful and highly encourage to check out the Coworking Experts Round-up: How to Run a Business after COVID-19 for more valuable advice from industry influencers.

Each day it becomes more obvious that the Covid-19 storm will pass and the sun will shine on a different world. If you want your coworking business to thrive in the post-crisis world, you need to adjust your services to the urgent entrepreneurs' needs, consider tapping new audiences, and come up with flexible coworking solutions.

Do you have any predictions of how the situation with coronavirus is going to evolve in the coming months? Maybe you are ready to share your guidance and directions to get through challenging reopen time? Feel free to post them in the comments.

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