Udemezue John
Introduction.
If you’ve been following the growth of the business and startup culture in Nigeria, you’ve probably noticed that co-working spaces have become a huge trend.
These shared workspaces are popping up all over the country, from Lagos to Abuja, as more and more entrepreneurs, freelancers, and small businesses are realizing the benefits they offer.
It’s not just about having a place to work—it’s about building a community, creating opportunities, and supporting growth.
Starting a co-working space in Nigeria might sound like a big project, but it’s achievable with the right knowledge and approach.
This guide will walk you through everything you need to know, from finding the right location to getting your first members through the door. Let’s jump into how to make this idea of starting a co-working space in Nigeria a reality.
Why Start a Co-Working Space in Nigeria?
Nigeria is one of the largest economies in Africa, and it has a thriving entrepreneurial culture. The country is home to a young and innovative population, with many people eager to start their businesses.
The rise of digital nomads, remote work, and the gig economy has also contributed to the demand for co-working spaces.
More people are working from home, but sometimes that just doesn’t cut it. People need a space that offers more than just a desk—they need a professional environment, networking opportunities, and access to resources that can help them grow.
If you’ve got the vision and the drive to start a co-working space in Nigeria, you’re in the right place. The demand is there, and with the right strategy, you can tap into this growing market.
How Do I Start a Co-Working Space In Nigeria?
Step 1: Understand the Market
Before you rush into signing leases or buying office furniture, it’s crucial to understand the market. Co-working spaces may be booming in major cities like Lagos and Abuja, but it’s important to do your research on the demand in your chosen location.
You need to ask yourself: Who is your target audience? What kind of businesses are you trying to attract? What are the competitors offering?
For instance, in Lagos, there’s a high demand for co-working spaces because of the large number of tech startups, freelancers, and creatives in the area.
In contrast, other cities like Port Harcourt or Kano might have a smaller market for co-working spaces, but they might still have a significant number of professionals who need a place to work.
Don’t just assume that people will flock to your space because it’s there. Dig into the specifics of what types of businesses would benefit from a co-working space and what they’re currently lacking in terms of workspace.
This could be the difference between having a successful business and one that struggles to attract members.
Step 2: Find the Right Location.
Location is key when it comes to starting a co-working space in Nigeria. You want to pick an area that’s accessible, safe, and attractive to your target market.
Cities like Lagos, Abuja, and Port Harcourt are some of the most vibrant hubs for startups and freelancers in Nigeria, but each of these cities has different neighbourhoods that appeal to different types of professionals.
Think about proximity to public transport, availability of parking, and the overall vibe of the area. Is it easy for your potential members to get there?
Is the area safe, especially at night? The location of your co-working space will play a huge role in whether or not people choose to work from your space, so it’s important to choose wisely.
Another thing to consider is the cost of rent. Depending on where you set up shop, rent can be a significant expense.
Look for areas where rent is affordable but still attracts the kind of businesses you want to target. In some cases, it might make sense to opt for a location outside of the city centre, where rents are lower, but still accessible for your target market.
Step 3: Set Up Your Space.
Once you’ve found the right location, it’s time to set up the space. You’ll need to create an environment that’s not only functional but also inspiring.
People want a space that’s comfortable and motivates them to get work done. This means you’ll need to think about furniture, lighting, decor, and amenities.
Here’s a list of things you might need to get your coworking space up and running:
- Desks and chairs: Make sure you have comfortable workspaces for your members. Invest in ergonomic chairs and spacious desks to help people work efficiently.
- High-speed internet: This is non-negotiable. Everyone needs fast and reliable internet to get their work done.
- Meeting rooms: Small, private rooms for meetings are essential. Not everyone wants to discuss business out in the open.
- Kitchen and break area: A space where people can grab a quick snack, take a break, or even network.
- Power backups: In Nigeria, power outages can be frequent, so having a generator or backup power supply is a must.
While it’s tempting to go all out and create a luxury office space, remember that your members are there for functionality and affordability. Keep the design simple, modern, and conducive to productivity.
Step 4: Legal Requirements and Registration
Before you open your doors, you’ll need to sort out the legal side of things. This includes registering your business, obtaining necessary permits, and ensuring compliance with local regulations. In Nigeria, this might involve:
- Registering your business with the Corporate Affairs Commission (CAC).
- Obtaining a business license depends on the services you offer.
- Paying taxes and ensuring your business follows the tax guidelines in Nigeria.
It’s a good idea to consult with a local lawyer or business consultant to ensure that you’re meeting all legal requirements. This step might seem tedious, but it’s important to protect yourself and your business from potential legal issues down the road.
Step 5: Market Your Co-Working Space
Now that everything is in place, it’s time to spread the word. You can’t expect people to just show up without letting them know you exist. Use both online and offline methods to promote your space. Some marketing ideas include:
- Create a website and social media presence to showcase your space and services.
- Offer a free trial or discounted rate for the first few months to attract early adopters.
- Network with local startups, tech hubs, and businesses to get the word out about your space.
- Host events, workshops, or networking meetups to build a sense of community and create a buzz.
Word-of-mouth can be a powerful tool, so make sure you’re giving your early members a great experience that they’ll want to share with others.
Step 6: Set Up Pricing and Membership Plans
Pricing your co-working space can be tricky. You don’t want to charge too little and risk undervaluing your space, but you also don’t want to price yourself out of the market. Most co-working spaces in Nigeria offer different membership plans, such as:
- Hot Desk: A flexible plan where members can sit anywhere in the space.
- Dedicated Desk: A plan where members get their desks.
- Private Offices: For companies or teams who need more privacy and space.
- Virtual Office: A plan for businesses that need a professional address but don’t need a physical workspace.
Make sure your pricing is competitive and aligned with what other co-working spaces in the area are charging. Offering flexible payment options and discounts for long-term memberships can also help attract more members.
Conclusion.
Starting a co-working space in Nigeria can be a lucrative business opportunity. With a growing number of startups, freelancers, and remote workers looking for flexible workspaces, there’s a real demand for co-working spaces across the country. But just like any business, it takes careful planning, research, and execution to get it right.
Have you considered starting your own co-working space, or are you already in the process? What challenges do you think you’ll face, and how do you plan to overcome them?
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