ThisWeekIn Coworking

Deskmag

Deskmag is the magazine about coworking, its people and spaces. We report on coworking spaces, how they look, how they function, how they could be improved and how we work in them.

πŸ’Œ Newsletter Mentions

9 Results

πŸ‡©πŸ‡ͺ The German coworking market remains volatile

Carsten Foertsch from Deskmag shares an overview of the German coworking market for the year so far. Sharing insights from a recent survey, 46% rated their economic situation as ‘good’, while more than half expect to see further improvement in the next 6 months. Unsurprisingly, smaller spaces or spaces in smaller cities, see their situation less favourably.

In summary: occupancy is increasing (nearly two-thirds of all coworking space is occupied), but long-term profitability is keeps creeping out of reach (factors like higher rents and energy prices come into play) – with 42% of local coworking spaces just breaking even.

πŸ’¬ Discuss this Β· πŸ”— Direct Link Β· ⏱️ 16 days ago Β· πŸ“© Week 23, 2024

🀫 Does coworking have a revenue problem?

Sofia Stolberg from PilotoMail shares another Forbes contribution looking at whether coworking (and it’s built in double-edge-sword of flexibility) has a revenue problem, given that Deskmag is reporting that nearly half of all operators are struggling to turn a profit.

The post highlights some remedies, including more cost-effective lead gen strategies, better retention through hospitality, and a veritable paradigm shift in coworking revenue stacks.

πŸ’¬ Discuss this Β· πŸ”— Direct Link Β· ⏱️ 62 days ago Β· πŸ“© Week 16, 2024

πŸ”¨ OG operator busts 6 flex space myths for asset managers

Christophe Fahle shares the 6 things 10 asset managers got wrong about flex space and coworking. This insightful piece followed conversations about improving occupancy in badly performing office buildings by leveraging flex spaces.

In short, flex space is not just about hot desking; it isn’t one-size-fits-all; it isn’t a quick fix; it’s affordable; it actually improves cash flow; and has a measurable environmental impact.

Are these objections you’ve heard from asset managers before? Any Christophe missed?

πŸ’¬ Discuss this Β· πŸ”— Direct Link Β· ⏱️ 80 days ago Β· πŸ“© Week 13, 2024

πŸ“Š Carsten’s 2023 State of Coworking deck

Carsten from Deskmag shared his slide deck from his talk at Coworking Europe in Porto last month. It features more selected results from the 2023 global coworking survey.

πŸ’¬ Discuss this Β· πŸ”— Direct Link Β· ⏱️ 197 days ago Β· πŸ“© Week 48, 2023

πŸš€ 52% of for-profit coworking spaces report profitability

Deskmag just dropped their latest data set from the 2023 Global Coworking Survey.

Within the 49 page document, we learn a whole bunch. First, in 2023 52% of for-profit spaces reported being in the green, 27% were breaking even and 22% were unprofitable (compared to 45/29/26% respectively in 2019).

The average profit margin for the profitable spaces was 19.7% up from 17.4% in 2019.

The percentage of revenue generated from hot & fixed desk rentals dipped in 2023 to 29% (from 31% in 2019 and a high of 40% in 2016) as office rental revenue grew to 35% (up 5% from 2019) and meeting room revenue added a percentage point to 12% in 2023.

On the flipside, the percentage of average expenses spent on wages went up to 23% from 2019’s 17%, whilst rent still led the overheads at an average 34% of all expenses.

For my fellow data geeks, grab the full doc, it also looks at profitability by tenure, size, location, no. of members AND the problems affecting profitability.

What was your favorite, or most surprising stat? Let us know with a reply or by joining the open discussion.

πŸ’¬ Discuss this Β· πŸ”— Direct Link Β· ⏱️ 233 days ago Β· πŸ“© Week 44, 2023

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Founded in 2009. Based in Berlin, Germany.

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