July 17, 2017

Monthly membership plans are the backbone of your monthly revenue strategy… but where do you even start?

From helping coworking spaces around the world set up plans for their venue within our software platform Optix, we’ve seen certain patterns emerge when it comes to membership offerings. Here, we’ve distilled for you six common types of membership plans that many coworking spaces use as the foundation of their strategy, ordered lowest to highest by the level of commitment required from a member.

The Community Membership Plan

The community membership plan provides solid value with a low cost-of-entry. It appeals to prospective members who may be interested in participating in the community, perhaps to try out coworking for the first time, but aren’t yet looking for regular access to a workspace.

What it includes:

  • 1 day of hot desk access per month
  • Access to your venue’s digital community through Optix Connect, Slack, FB, etc.
  • Discounts on event and workshop tickets
  • Discounts on meeting room rentals

Pro-tip: Price this monthly membership plan to come out to about $5-10 above the price of a drop-in pass. This creates an easy way for you to upsell visitors to your space and ensures your community remains vibrant and ever-changing. It’s a perfect option for those who know they won’t frequent your space for work days, but who still want to be a part of your community.

The Virtual Office Membership Plan

Want to make sure you have something to offer the solopreneurs and new business owners who need a professional address, but perhaps don’t yet have the capital to finance a full-time desk in an office? A virtual office gives them a place to send their mail, host their business meetings, and a community of peers who are also getting their business off the ground.

What it includes:

  • Mail service and a business address
  • Discounts on meeting room rentals
  • Access to your venue’s digital community

Pro-tip: Attend events in your community targeted at new entrepreneurs (or host them at your space) to share this offering with prospective members who might be interested in a virtual office package.

The Weekender Membership Plan

Perfect for the side hustlers, the weekender membership is built for those looking to get their business off the ground outside of their 9-5 office job or entrepreneurs who are strapped for cash. It includes use of the desks in your venue during the non-peak hours.

What it includes:

  • Unlimited weekend-only access to hot desks (option to include weekdays 6pm onwards as well)
  • Access to your venue’s digital community
  • Discounts on event and workshop tickets
  • Discounts on weekday hot desk and meeting room rentals

Pro-tip: Use this plan as a way to get the price-conscious side hustlers on the hook. They’ll love the discounted price, and you’ll get more traffic on your typically slower days. Can you say win/win?

The Hot Desk Membership Plan

For those seeking a balance of flexibility and routine, the hot desk membership is a perfect fit. Hot desk memberships are BYOE (bring your own equipment), making them a great option for members wanting a coworking take on the coffee shop environment. Offer both part-time and full-time options to appeal to an even wider range.

What it includes:

  • 8-10 days (part time) or 20 days (full time) of hot desk use
  • 5-10 hours of meeting room rental included
  • Discount on overage hours for hot desks and meeting rooms
  • Access to your digital community
  • Discounts on events and workshop tickets

Pro-tip: Want to offer your part time members even more flexibility? Price your plans based on the number of hours they can book (i.e. a part time membership of 50-80 hours per month). This allows part time members to drop in for a part of a day without charging them for a full day’s allowance.

The Dedicated Desk Membership Plan

Your most committed solopreneurs (and startups who don’t need their own private office) will love the dedicated desk membership. A member with a dedicated desk plan chooses a desk within your coworking space to call their own.

What it includes:

  • 24/7 access to a dedicated workstation
  • 5-10 hours of meeting room rental included (plus a discount if they go over their allocated hours)
  • Access to your venue’s digital community
  • Discounts on event and workshop tickets
  • Locked personal storage

Pro-tip: Explore a control access system like Kisi as a way to offer secure after-hours access to full-time members without needing to staff your space past 5pm.

The Private Office Membership

For startups, small remote teams, and members needing a bit more privacy, offering private offices are a very popular option. Private office memberships give members access to the security and privacy of their own office while still allowing them to be a part of your coworking community.

What it includes:

  • 24/7 access to their private, secure office
  • 5-15 hours of meeting room rental included (plus discount on overage)
  • Access to your digital community
  • Discount on event and workshop tickets

Pro-tip: If you run out of private offices to rent, suggest that a team rents a group of dedicated desks while they wait for an office to open up. Offer to put teams willing to do this at the top of your private office waitlist. You can create a custom plan that includes extra meeting room time to ensure they have plenty of time to collaborate and chat in a quiet setting.

Experiment until you find what types of membership options work best for your coworking space

Remember that when it comes to creating plans, nothing is set in stone. Using a software such as Optix allows you to test out offering different types of plans and then measure a few key performance indicators to determine which plans are worth keeping around. Which plans resonate with your prospective client base? Which plans are more trouble than they’re worth? Which plans give you the best monthly recurring revenue?

At the end of the day, finding the right combination of membership plans for your coworking space is an iterative process. With a bit of time and experimentation, you’ll find what works best for your space and your community’s needs.

Create flexible membership plans in Optix

We’ve invested a lot of time and energy to build coworking management software that is both robust and simple, so that coworking spaces have the flexibility they need to implement all of the different options we described above (and more). If you’re interested in learning more about what’s possible with Optix, simply reach out for a demo and a free trial of the solution.

Further reading

To find out more about the benefits and drawbacks to hot desks vs. dedicated desk membership plans, be sure and check out our blog post on the topic!

The coworking wiki includes examples of pricing models for coworking spaces around the world.

Browse the ShareDesk marketplace city list to see real-time prices in your city.