Tony Bacigalupo spoke with Brad Krauskopf of Hub Australia.
About Hub Australia
With about 1,000 members across three locations, one with 40,000, one with 12,000 and one with 8,000 square feet, Hub Australia has become one of the most successful coworking spaces.
Brad tries to provide value to members that goes beyond the physical space. In fact, many of Hub Australia’s members job because of the strong network it provides, not for the office space. Hub Australia focuses on growing businesses and adding value through diversity. This is something you can only do with a lot of members. The social connections set up the space to be more of a support network than anything else.
Hub Australia is a national business community that people can engage with. People are able to choose which membership fits their needs as well as which parts of the business community they want to connect with depending on what stage their company is in. The space provides a variety of memberships to fit any entry level. One membership they have is called “Connect Membership” and is only $30 a month. With this, members gain access to the vast social network but not physical space usage.
Journey to National Recognition
One of the main reasons people choose to join and stay with Hub Australia is their ability to attract and retain staff. Members see Hub Australia as a way of recruiting talent. People like being a part of something bigger. With coworking, they can choose to work for a smaller business while still being a part of something greater.
Although it is wildly successful now, building Hub Australia into what it is today came with a lot of trial and error. Brad learned several things throughout the process of cultivating his space. Deliver what you can with what you have without overextending yourself. Grow at an appropriate pace. At one point, Hub Australia had more members than their staff and revenue could support. Lastly, make sure whatever the core of your revenue is can keep your business standing on its own. It is harder if you are relying on 10 different services to keep you afloat.
Building a community is hard and takes a large emotional toll as well. It is important to have a solid business model behind your vision to help the process move more smoothly.
The importance of coworking is less on the office space and more on the social connections and resources people can give each other while building their businesses.