Companies have begun seeing the benefits of coworking spaces for the productivity and creativity of their employees. And they are eager to try them, creating a demand for flexible offices. As the industry expands, so do the trends expected to dominate the market within the next few years.
Here are some of the trends in the coworking industry:
What is Dominating in the Coworking Industry?
Coworking spaces provide professionals with the tools they need to work on their own time, as well as provide a space that favors collaborations. Trends arise to meet the growing needs of a rapidly expanding industry.
Real estate developers are catching up
Real estate developers have noticed the increasing demand for coworking spaces by entrepreneurs, freelancers, and other companies. Because of this, they’ve started offering coworking spaces for tenants.
Companies that want to try coworking spaces need fast solutions. Commercial real estate developers recognize this need; taking the initiative to invest in co-working spaces and renovating buildings to fit the company’s needs.
As the need for coworking spaces increase, new business ventures emerge to meet the demand. Suddenly, everyone wants to try working in a shared environment with their peers from different companies. Because of this, the idea of franchising opportunities arose.
Office franchising opportunities may provide you with the financial security you need for your future. Consider how your business would serve startups, lone entrepreneurs, and freelance professionals. This type of market is likely searching for flexible offices in areas where lease rates may be too steep. Your franchise may be able to offer a better alternative.
The beauty of a franchise is that you’ve got a captured market, an established business, and a tried-and-tested system. In contrast to starting from scratch, buying a franchise means getting a turnkey business.
Modern facility management and technology
Coworking spaces reflect work style beliefs. As more entrepreneurs and freelancers try out this work lifestyle, experts in the industry have to keep up. You have to keep coworking spaces as engaging and conducive to productivity as much as possible.
You have to keep your facilities up-to-date and provide your clients with the latest advancements in technology for their convenience. Desktops, printers, scanners, and in-office communication should be modern and fully functional.
As your business develops and progresses, you need to observe which elements of the workplace are suitable for your clients. You need to ask yourself, “What do you need to do to make the experience better for them?”
One thing coworking spaces have that corporate offices don’t are unique spaces. This may refer to spaces that cater to an employee’s health and well-being, like ping-pong tables, employee lounges, creative rooms, and a garden where they can take a walk and decompress from work.
The coworking industry needs to amp their game as corporations are following their lead in giving importance to their employee’s well-being. They can provide access to yoga rooms or gyms, as well as develop free wellness classes as a perk for loyal clients.
People are changing the way they’re working. A big part of that is inhabiting a workspace that meets the ever-changing needs of professionals. And coworking spaces answer those needs, opening up business opportunities you can explore.