5 Free Ways To Promote Your Coworking Space

Coworking spaces have been around as serviced offices before made “cool” by WeWork. Following it’s failed IPO, investors, and businesses start to question the business model of every other coworking space out there.

In Chupspace, we’ve talked with hundreds of co-working space operators of all sizes. From WeWork, Common Ground right to pops-and-moms coworking space, the most common thing we heard is “Breakeven“.

Getting extra income

To grow every customer, you’ll need additional expenses like hiring more people, expanding offices (which most brick and mortar business does). Ultimately, membership services are only here to breakeven. 

Increasing prices of the membership is not a viable option as there are a lot of choices out there in the market that offers similar things. The only competitive advantage of most pop-and-mom spaces is the price and people are there because it is cheaper and near to home.

Renting out as event space

Most spaces rented out their event space to other businesses that wish to tap into the network of freelancers & small business owners.

Renting out spaces is a great way for any coworking space to make extra revenue to cover rent, operations and gain more exposure.

1. Facebook groups

Find your niche audience that you wish to target and where you think it’ll be easy for them to buy your product. Some Facebook groups work extremely well for coworking spaces as they’re full of freelancers and business owners.

It is important to craft your offering and not only spam promotional offers to these groups. Cause nobody likes to be spammed and shoved information down their throat.

Here’s some keypoint that we think you should include in your business pitch:

The table setting is suitable for lunch & dinner events
The bright ambience is suitable for meetings

2. Classified ads

Another great way to gain exposure for free is to share your posts on classified sites, although there are several limitations on most classified sites like reposting every now and then and low-quality lead. It is still one of the best ways to get your words out there into the world by tapping into a bigger pool of audience. Here are a few classified ads you can try on

The cons are that exposure is often limited if you’re not featured, however, the great side is that you can pay to get featured, usually for only a small fee.

3. Online marketplace

Most of the spaces we found have listed on platforms like coworker.com to get better exposure from overseas freelancers when they work travel. One of the main advantages of getting into an online marketplace is the free exposure that they get by ranking on the first page of google on a specific niche.

As you may find coworker.com from the keyword coworking space, you’re listing your space so that you’re also somehow ranked first place on Google. What’s best is that most marketplaces are free to list and only takes a small commission when your space is booked.

Here are some marketplaces and their key benefits when you list:

  • Flyspaces – exposure to more businesses & freelancers
  • Chupspace – exposure to a different customer segment of customers including creatives, film producers and businesses for meetings, events and production
  • VMO – exposure to birthday parties, annual dinner and any type of celebration

Chupspace aims to create a trusted community to share spaces with strangers through an easy to use platform.

4. Instagram #hashtags

The Malay community respond better to hashtags, if you’re looking for greater exposure to the community. This channel is for you

We’ve seen event spaces grown to tens of thousands of followers just via Instagram. It is one of the most effective free channels that you can get for any lifestyle related product & services. 

We remarked lifestyle because people go to Instagram to see great and beautiful things.

So unless your space is really awesome for small parties & girlish parties, you may come across a roadblock on Instagram. Here are some spaces that would do really well on Instagram.

  • Party spaces with theme
  • Engagement/wedding related spaces
  • Festive parties (Halloween, Christmas, etc)

If you think you have what it takes to stand out better than the rest, here are some hashtags that are commonly used by event space pages that do well on Instagram

#eventspacemalaysia
#eventspacekl
#tapakevent
#bilikseminarkl
#seminarhallmalaysia

You can easily explore these hashtags by following the page with the most followers and discover how they hashtag.

P/S: Just copy paste the whole damn thing.

5. SEO

I’d argue that this is free as it requires a lot of time and work

As every business wants, we want to rank ourselves on the top of our keywords, imagine every time people type “coworking space” your website pops out. Well unless you’re hiring an agency or a team to do SEO for you, it is very less likely the case. However, we still recommend you to go for it as you may score on long-tail keywords.

What is a long-tail keyword?

Instead of having your site to rank for a high-level keyword like “Coworking space”. It is easier to rank for a niche keyword that describes your space best.

For example, you’re a coworking space located in Bukit Jalil, with full equipment installed for a seminar.

It is easier to rank for the following terms (longtail)

  • coworking space in bukit jalil
  • seminar room in bukit jalil
  • coworking space for seminar
  • coworking space for seminar in bukit jalil

See how it niche down to a smaller fragment and you have less competition on the specific niche. Although you may argue that only a very low volume of people searching for the keyword. It works as a tool for you to get IMMEDIATE customers who already looking for a space to host a seminar in your area.

Hosting on Chupspace allows you to leverage SEO of the whole website.

Learn more about hosting here

Final thoughts:

There are many ways for you to market your space but it all comes with a price. The entrepreneurial journey is lonely but fruitful, it is necessary for you to get together with like-minded people and work as a team.

Join the community

Discover, list and book spaces from local hosts

Explore unique spaces

Book a space from local hosts to meet share and collaborate

Share space and earn

Make money by renting out extra underutilised spaces by the hour

Chupspace

Chupspace connects professionals to creative spaces, while helping small business owners monetise their underutilised spaces by the hour.

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7 things to know before accepting a film shoot booking

Professional production crew often look for apartment and homes to shoot in. Whether if it’s a short film, TV commercial, drama, or movie, professionals can find spaces that suits their next shoot easily on Chupspace.

While you can rent your apartment on Airbnb, it is very unlikely that you’ll be renting out the whole house as you will lose your place for the night. There are no easy way to make use of your existing space before Chupspace in Malaysia.

What should you consider before accepting a booking?

Hosts on Chupspace shares their apartment while not losing a place to sleep at night for small meetings, parties and filming purposes. We heard hosts have concerns when being approached by production crew to use the house for shooting.

Here are 7 things that you should take into consideration before accepting a film production booking:

1. Will it disturbs my neighbour?

If you’re a host sharing your home, chances are you’re already disturbing your neighbour. As most people may feel uncomfortable having strangers in their private residence. Our advise here is that informing your neighbour when the shooting will be at and telling them your safety measures to ease them.

Tell the crew beforehand that there will be no loud noises and you reserve the right to ask them leave with no refund if they break the house rules. Most crews will inform you what scene they intend to shoot before booking your space, so you know if your space can cater their needs.

2. How much should I charge?

Depending on the scene, film production usually involve heavy equipment and these equipment consumes quite some electricity. Take into consideration this factor before setting your price for production. Typically, hosts charge around 30% extra when renting to production crew to cover electricity cost.

If you’ve created a listing on Chupspace, you’re sure to know that you can set different prices for “Offsites”, “Events” and “Productions” listings. Setting different price for each while taking into consideration the the different nature for each type of booking is crucial for your hosting success.

3. Potential flooring scratches

Production crews usually brings in heavy equipment, and involve moving of furniture to make your space fit the scene. This may cause scratches on the flooring, or furniture in the process. Ask the crew if they intend to move furniture around so you can make preparation work or at least present when they move the things around.

Take a photo of the space before and after moving the furniture. If you find any scratches and damages after the shoot, present proof to Chupspace and make claims on the damages.

note that no bookings should be taken when claim is in process

4. Insurance for shooting

It involves intensive paperwork if you requests insurance before shooting at your space. It safeguards you from any potential damages occurred to both the crew and you during the shoot. However, it is time-consuming to do it yourself, or by the production crew.

Luckily, marketplaces like Chupspace has built in a system that make safe, and protecting both parties during the booking.

Connecting people to creative spaces

Chupspace helps business owners monetise their spaces by the hour for meetings, events, production and anything else.

5. Getting permit from local community

If the shooting involve public area, like roadside or outside your house compound, you should request the crew to show permit to shoot in those areas. No action needs to be taken if the shooting only involved scenes inside your compound, which is privately owned.

If your space has JMB/MC, you need to seek approval from them before the shoot to avoid disturbance on shooting day.

5. A lot of vehicles and crews

If you’re hosting the shoot in a private residence, you may need to get additional parking for the crew before the shoot. As most crews involved big trucks and around 10-15 people, it may disturb the local community.

Inform the crew and neighbours beforehand, prepare enough of parking for the crew. Tell them how many spots are available and where can / can’t they park in the area.

6. Should I collect security deposit?

Yes! As a lot of times there may be overtime, damages, and other charges that may require additional fees outside the paid amount. Collecting security deposit makes the crew take care of your space more, following rules and leave on time.

Bookings with Chupspace makes it easy to collect security deposit upon booking, and the amount is refunded automatically without needing you to be involved. 

Join the community

Discover, list and book spaces from local hosts

Explore creative spaces

Rent spaces shared by local businesses

Share space and earn

Make money by sharing space by the hour

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Renting your office space by the hour

Current situation

Small businesses suffer from increasing rental cost in Kuala Lumpur with a YoY rental increase of 5%-10%. In tough economic situations, over 90% of small businesses do not last over 2 years.

We’ve seen great cafes, coworking spaces, restaurants, bars and art galleries in urban areas move to a more rural side of the city so it can operate at a lower rent. But does it solve the fact that most businesses suffers from high rental cost?

Coworking trend

A few years back, offices came into the trend of coworking. I assume everyone knows coworking spaces now, as a new one pops out every week across Malaysia. And bigger coworking space operators like WeWork, WORQ, Common Ground, Co3 have significant market shares due to strategic location. It makes sense for people to have their office set up in strategic locations, but my question is, what about the ones that are located in suburb area like Shah Alam?

Coworking space in KLCC area

Rise of spaces

As more people move into coworking spaces, and working as a self-employed individual or operate a small team. Often times, they need to move around the city to acquire customers and host events on a different side of town. Here’s when spaces come in, it lets professional to own (or rent) space in their property for a few hours on a particular day. Typically rented out by coworking spaces, in the area they’re visiting as there are transparent and affordable rates.

It's an event space.. wait what?

As people have an event in a space in coworking spaces, hence the name “event space”. But after 1000+ bookings that happen on Chupspace, we see the use of space a little differently.

If you’re familiar with Airbnb, it is an online platform that allows homeowners to share their empty rooms for travellers to stay. But there’s a certain group where they would rent an Airbnb for social gathering, family reunion, or even filming. So the usage is much wider and bigger as what is intended by the founders.

Source: Shutterstock

Creating an inclusive world

So how can you, as a business owner, combine these two concepts that I’ve just mentioned (Airbnb and event space), to monetise your empty space and idle times in businesses, so that you can offset your rental & operation cost?

Here we compiled a list of possible solutions that you can use to monetise your business space:

2. Rent for small activities

You can share your space with people who are interested in having small events, meetings or a film shoot.

As you rent the space from the landlord for 24 hours and only using it for 10 hours a day. Don’t think of events like music festivals or dance parties, but more like networking events, social gathering or even small birthday parties.

Meetings

Income: RM800/month
Cost: Utilities, staffing, equipment

Challenges: People who look for meeting rooms are always very urgent, and having a staff dedicated to handling inquiries that 80% do not turn into a customer is a headache.

Events

Income: RM6000/month
Cost: Utilities, staffing, equipment

Challenges: Additional staff is required for event logistics, people visiting the office time to time and planning ahead of time.

Production

Income: RM5000/month
Cost: Utilities, staffing, equipment

Challenges: Filming sometimes include heavy machineries that may damage your flooring, and moving of furniture around for the best scene

How to: Friends referral, engage event planners, Chupspace

Chupspace makes it safe and easy to share your space and earn extra income during downtimes of your business.

Read More

How Malaysians can get higher ROI for your real estate in 2020

Malaysians love properties. It is seen as one of the safest investments by Malaysian investors, as the value of properties is always on the rise. Although there is an anticipated bubble of property in 2019, it seems nothing is stopping Malaysians to get a place of their own.

While we see new developments every day for residential properties, it does not seem like a good time for the property market, with a staggering value of RM35.5 billion of vacant properties in Malaysia alone.

Okay, some good news that will lighten you up. We find that there are several ways that you can actually pay your instalments and rentals with a little effort put in. Here we picked 4 of the best earning potential:

1. Airbnb

No doubt that Airbnb has increased popularity among Malaysians. It is one of the best ways anyone can actually make some money online while knowing people from other countries. You can make additional income with your extra bedroom, a whole house & apartment spaces for a night’s stay.

Pros: Great brand & market access
Cons: Lack privacy or need high capex to start

Income potential: RM2000+ per month
Website: https://www.airbnb.com/

2. Luggage Here

A new kid in town for the hottest tourist spot in Malaysia. The aim is to help travellers store their luggage in a spot for a minimal rate per hour at local retail stores. The startup now serves 2 major cities in Malaysia which includes Kuala Lumpur and Penang

Income potential: RM1000+ per month
Website: https://www.luggagehere.co/

3. Chupspace

Another new kid in town that helps professionals find spaces outside business hour for meetings, events, and production.

A major difference between Airbnb and Chupspace is that it gives higher flexibility than Airbnb by hourly sharing. Hosts who wish to earn extra income from their real estate can now do it without losing a place to sleep.

Spaces that can be rented out could be of any kind, which includes a living room, the rooftop of a commercial building, abandoned warehouses, parking lots, museums and more.

Income potential: RM4000+
Website: https://chupspace.com

4. Some good old monthly renting

The most common way for a property to yield is finding tenants to rent your property, and you get a monthly rental to (hopefully) cover a portion of installments. While this seems like a no-brainer, actually it is not. There are scenarios where tenants might not pay your rent and utilities. Here’s some advice from experts on what if your tenant does not pay you.

Income potential: RM2000+

There may be some other ways that your property can earn income for you passively, but do bear in mind that neighbours may be upset from having strangers walking in and out of the premise, especially in residential areas.

A common way for us to prevent that is to inform the neighbours before the date of the event, or simply host with Chupspace, where tenants leave the space after each use and you can control your rental hours until 12am, and not disturb their sleep.

Read More

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