Profitability starts with efficient buildings and operations
Coworking space operators are under constant pressure to both provide the maximum comfort to their members and maintain the financial health of their business. This can be a hard game to play – with so many factors influencing when and how the spaces are used and occupied, it’s not enough to rely on traditional accounting tools alone anymore. A data-driven costs and revenue management strategy becomes the key to operating the spaces better and more efficiently.
Every square meter not used properly is an opportunity in waiting
Each building you’re working in is inefficient in its own unique way, which adds up to all the operational costs you could avoid. Decreasing or eliminating these costs altogether is the starting point on a path to profitability. Another point is the constant tracking and improvement of the space utilization metrics through the ongoing analysis of desks and meeting rooms occupancy.
“ROI-first” approach in occupancy & energy management
Based on the initial occupancy and energy consumption data, Basking can recommend a number of simple energy savings steps with no new installation required.
Basking’s approach is different than traditional installation-heavy one. We first establish the connection with the existing systems, starting with energy meters, WiFi and access management to unlock your space utilization, occupancy, and live energy data.
ENERGY SAVINGS FROM BASKING DEPLOYMENT*
Start saving with zero installation costs
Based on the initial occupancy and energy consumption data, Basking can recommend a number of simple energy savings steps with no new installation required. These initial data insights also enable coworking managers to make informed decisions on what measures to take to save energy further.
These measures will have a clear ROI and payback period and will be funded by the energy savings they are creating. This way coworking spaces can increase their profitability by cutting the operating expenses and improving the members comfort at the same time.
Visibility for your business performance metrics, in a single building or across a portfolio
By using Basking across multiple spaces, managers can see how each one is behaving in terms of occupancy and energy consumption rates and optimize portfolio over time. This data can then be used to forecast the business performance in terms of standard real estate metrics – total return, income return, rental value growth and occupancy rates.
Use live occupancy data to improve operations
This real-time data provides the operations managers with a better way to forecast the event attendance, plan the catering needs or schedule the maintenance ahead of time. Knowing how the asset is being used day in and day out will help you to create the ideal member community mix and ultimately, improve the members’ satisfaction and profitability of your space.
The success of the coworking workspace is rooted in the flexibility and optimization that the model offers. Basking’s software is a cost-effective way to manage this flexibility to ensure the business performance of your spaces is on the right track.