My colleague Martina and I recently attended the Coworking London Conference. We were joined by some of the sectors most dynamic CEOs, Founders, and Directors at The Clubhouse’s excellent space in the heart of Bank. The event was jam-packed with many thought-provoking panel debates, open forums and presentations.
There were some great areas of discussion throughout the day, but one of the reoccurring themes was that each provider has a niche area within which they operate. This sentiment was echoed throughout presentations from Lu Li (Blooming Founders CEO) who runs a female focused coworking space, Chris Howard (The Rattle CEO) who has an independent music business space, and Ralph Manheim (Primalbase CEO) who has several tech-led coworking spaces that can also operate on cryptocurrency tokens. This demonstrates how the sector is adapting to provide specialist spaces where communities can develop in order to enable start-up growth.
Another hot topic was the introduction of hotels and bars that are now transforming underutilised spaces to create accessible coworking plugs. These spaces are clearly on the rise with companies such as Village Hotel Club and Spacemize taking advantage of additional revenue streams or 3rd parties bringing in new business. The model of a 3rd party bringing new coworking business into a hotel space isn’t entirely new. Spacious have benefited from this concept in the US, with 13 coworking locations in New York recently receiving $9.1million in funding. They have also expressed their desire to extend their offering to empty retail spaces, so that this model can show some real growth.
With all these innovative options available on the market, it will be interesting to see how different providers evolve. What type of spaces will start to lose out on their client base? Will this cause a shift in companies moving from generic workspaces to sector specific spaces? Will people start to opt for more mobile workspaces across hotels, or will the flexible office space continue to grow its foothold in the market by taking clientele from traditionally leased space? It is safe to say, however, that with increasing numbers of pioneering disruptors keen to leave their mark, this exciting sector is far from predictable.
Whether you’re interested in starting a career in cowork or you’re already a successful cowork provider, we’d love to hear from you! Contact myself or Martina today on 0203 854 1000 to discuss some of our amazing opportunities!
By Cameron MacRae
Posted Tuesday 9th July, 2019