Traditional coworking spaces have become popular during the rise of remote work, but are struggling to maintain a profit. They are suffering due to a variety of reasons, but mostly because of high real estate costs. This in turn causes the companies to charge members very expensive rates, ranging from $200 to $700 per desk. They also struggle to foster a social atmosphere among members. 69% of coworking space members claim that they haven’t made any friends outside of their existing coworkers. Spaces often are very sparingly decorated and have little differentiation from each other, creating a rather uninspiring place to work.
However, there is a new wave of coworking spaces that are sweeping the industry, with an alternative operating model that removes the need for high real estate costs. These spaces leverage underutilized space in hotels, restaurants, and bars, reducing three-fourths of operating costs. This highly sustainable model allows for much cheaper memberships and reduces the fatal flaw of most traditional working spaces. There is also a lot more focus on fostering social relationships at these new spaces, where happy hours and communal lunches are often hosted. It can serve as the space for multiple functions in people’s lives, including community events, work, and social gatherings. Learn more about community coworking in NYC below:
Source: Tavern Community
