Our team works with coworking spaces and business centres across the country. Space provider list on our platform for more business but they don’t get the desired results as their pricing structure remains way too far from reality.
In this post we will discuss:
What matters when deciding pricing?
A guide on how to set meeting room rental prices for higher revenue by FlexiSpaces
When customers first book your space, they come to experience your workspace and in many cases, the customers who booked meeting room on rent with a space end up taking an office space from them as well.
You know how hard it is to bring people to your workspace, even after spending so much on marketing and other channels.
So, it makes more sense for spaces to keep nominal pricing for their meeting room so customers can book them and try it.
How to set pricing?
We understand that you own the best infrastructure in your area and you spent quite a good amount on interiors and the latest technologies. Now, you are looking for customers with good-paying capacity so you can start covering up the costs quickly.
Some major coworking space operators follow standard pricing for most of their centres to attract a major audience. Usually, it starts from Rs. 100/- per seat per hour, below table, explains it well.
|No. of seats||Price /hr||Bulk Discounts|
|4||400||780/- for 3 hrs|
|8||800||1560/- for 3 hrs|
|12||1200||2360/- for 3 hrs|
Some discount tricks:
Here are some profitable discount strategies for you to use-
- 35% on 3 hrs
- 50% on 5 hrs and above
In order to get more new business which in turn gets you bigger bookings from those customers, you must normalise your pricing using the strategies better.
Use the discount strategies above to get more bookings and see your revenue go up!