How To Incorporate Childcare Into Your Coworking Space :

Introduction : Many parents in today’s world are working due to which they are unable to give much time to their children . Their children are raised by grandparents in most of the cases.

• Adding childcare to the coworking space is a great way to expand your audience and boost retention rates.
• There are some challenges to adding childcare to a coworking space, including added regulations and risk of liability.
• If we decide to add childcare to services, then we need to hire appropriate staff, plan the design of your space, and make sure you set clear policies.

Pros and Cons of Adding Childcare to Your Coworking Space?

To make an informed decision about whether or not you want to add childcare to your list of coworking services, you first need to understand the advantages and disadvantages of doing so.

Pros

Let’s look at why we should consider adding childcare to your coworking space.

• Expand your audience: According to projections, there will be close to 42,000 coworking spaces worldwide by the end of 2024. Depending on where your space is located, that could mean more competition. Targeting a more niche audience, such as working parents, is an excellent way to set yourself apart in the market and attract more members.
• Boost retention rates: Adding childcare solves a unique problem for busy parents, which could keep them around longer. Parents who find their work-life balance improved by your space won’t hesitate to renew their membership, creating long-term loyalty.
• Foster a unique sense of community: Parents often gravitate toward social groups with shared experiences. A coworking space with childcare can help your members build friendships with other parents, fostering a sense of belonging and making your space more valuable to your members.
• Charge higher prices: Childcare services add significant value to your space, allowing you to charge higher rates for childcare-inclusive plans. Busy parents will be willing to pay more for facilities that offer high-quality childcare just a few steps away from them.

Cons

While it may seem like an excellent idea, offering childcare also comes with unique challenges. These include the following:

• Added regulations: Facilities with childcare are heavily regulated to ensure kids’ safety. You need to follow local childcare rules. You may need to get a childcare license and hire trained workers.
• Higher costs: The initial costs of setting up childcare facilities can be high since you’ll need to expand your space, purchase child-safe furniture, and equip play areas with plenty of toys and educational materials. Plus, the ongoing costs can also be high as you’ll need to pay salaries for staff and invest in program development.
• Risk of liability: Offering childcare opens up your business to legal risks. You’ll likely need to expand your business’s insurance coverage and have parents sign parental agreements and wavers in case of accidents.
• Requires more space: Balancing the needs of childcare facilities with your coworking areas can be difficult. You’ll either need to reduce space availability for your coworking members to make room for the childcare space, or you’ll have to expand your building.

Examples of Coworking Spaces With Childcare

While there are certainly some challenges when adding childcare to your coworking space, it’s more than possible. Below are some examples of successful coworking spaces with childcare.

Workplayce

Workplayce is a childcare coworking space in New York City. It’s designed to give parents a place to focus so they can get work done while knowing their little ones are having fun nearby.

It offers members childcare for kids five months to six years, enrichment classes for kids, and communal spaces where parents can work or play alongside their kids. Members have access to soundproof phone booths, Zen-inspired conference rooms, and enclosed workspaces. It offers members childcare for kids five months to six years, enrichment classes for kids, and communal spaces where parents can work or play alongside their kids. Members have access to soundproof phone booths, Zen-inspired conference rooms, and enclosed workspaces.

For further reading :

https://www.officernd.com/blog/coworking-space-with-childcare/