There are several statistics highlighting the rise of Coworking spaces in influence and attendance, notably higher revenues, greater demands, and new demographics coming into the fold. Just a few months ago, SoftBank invested $4.4 Billion into workspace as a service provider WeWork, with the promise of other big moves along the way. There is a reason for why Coworking spaces are opening everywhere. Landlords and operators alike are finding Coworking spaces to be an advantageous investment over the traditional office space. Coworking centers maximize and repurpose the use of space, extend the benefits of working within a community, and serve as a chief component to creating an environment for business innovation.
Here are the reasons why Coworking centers could very well take over every office.
Maximize and Repurpose Space
In traditional office spaces, an overwhelming number of desks are empty. From state to state as well as country to country, offices and business centers have open spaces that managers and landlords have no idea what to do with. By converting it into an open space, workspaces can provide flexible options for businesses on a tighter budget, young entrepreneurs, and start-ups that may not be at the level of affording office space. This creates an entirely new demand that could be serviced through unused space. Especially if a business center has at least 30-to-50% of their space unused, converting that space to an open work area for Coworking will prove more profitable.
Community is Catching On
Another advantage to a Coworking space is that it fights the feeling of isolation. Isolation happens among many workers, especially those who work from home or in offices that are heavily closed off from other people. It’s been shown that isolation can diminish productivity, morale, and make a workspace undesirable. By having a community within an office, you can attract the work-from-home types toward coming to your space and exploring the benefits of working together. Community also has shown to increase attendance, productivity, and the bottom line of the workspace. By creating a more engaging space where members want to work together, community increases member retention and makes an office a more in-demand place to be.
Promise of Innovation
At first, it started with the cloud, a disruptive means of managing and sharing data amongst a group. Then came software solutions that were more collaborative such as Google Docs, among many others. Workers began to find more ways to think creatively, as well as the four walls of the office. Coworking gives workers a more open way to come to work, with less commitment and yet more engagement. Much like Uber is the largest transportation company without the ownership of a single car, Amazon the largest online store without any physical locations, and AirBNB the biggest hospitality company without owning any real estate, the new age of innovation relies on breaking barriers to bridge better connections. It’s now well-known and well documented that these centers have such an emphasis on collaboration that they are becoming the place to be for inventing the next big idea.
Coworking centers make the most of a space while offering a flexible means to see the entirety of one’s workspace. With more emphasis toward community and the promise of what can come when people come together to focus on innovation, it could be possible that in several years Coworking centers will be everywhere. For more information on how WUN can transform your Coworking center, please click the button below.
Yardi Kube is a coworking management platform delivering all the tools needed to grow a smart and connected workspace. The Kube platform enables your technology to work intellligently together from managing leads and monthly billing, to accounting, and on-demand Internet and Voice services. With all the hardware, software, and essentials for building a thriving workspace, Yardi Kube helps you increase revenue, maximize productivity, and build community.