ThisWeekInCoworking.com

Week 17, 2022

This week we explore 2 coworking opportunities in appliances & hygiene products, a 300% increase in demand, more M&A, tips for coworking tours, and flex arbitrage.
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This Week is sponsored by…DeskNow

Manage your coworking space with DeskNow and reach more customers through our integrated HybridWork marketplace. Digital. Flexible. Free.Β 

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πŸŽ‰ Coworking celebrations.

πŸŽ‚ The Coop turned 5!

And wow, did they feast to celebrate 1827+ days of coworking in Las Vegas, NV!

πŸ‘‰ Read this.

✊ Coworking impact.

πŸ‡ΊπŸ‡¦ Ukrainian coworking leaders share in Spain

Igor Dzhebyan, from the Ukrainian Coworking Association, shared stories and insights around coworking resilience at this week’s Coworking Spain conference.

In this snap, we see a public call for continued support for the spaces within Ukraine from platforms, operators and members from around the coworking world.

πŸ‘‰ Read this.

πŸ“° Coworking news & views.

βœ… Tips for coworking space tours

Cat Johnson summarizes Jo Meunier‘s summary of the recent Coworking Convo on nailing prospective member tours.

Check out the 14 highlights, read the full summary or watch the recap as “your coworking space tour is the most important touchpoint you have to turn a lead into a member”.

πŸ‘‰ Read this.

⌨️ Could appliance rentals be a new opportunity for flex operators?

This link runs over how TULU, a startup that rents appliances like vacuums and mops to apartment dwellers, has raised $20 million in a Series A round.

It’s a fascinating model, and makes me think if there’s opportunity for a brand or even operator-specific offerings that could help nomadic/slomadic members leverage better or more equipment like additional screens, specific hardware or others on monthly terms.

πŸ‘‰ Read this.

πŸ’‘ Better meeting room management (19 ideas)

Miro Miroslavov shares 19 ideas to help workspace operators manage meeting rooms, their demand and their utility.

πŸ‘‰ Read this.

πŸ“œ 12 controversial remote work predictions

Chris Herd from Firstbase shared 12 predictions for what companies will do about where, how and when their teams will work.

Whilst pretty on-point with trends we’ve covered in the newsletter over the last 10-or-so weeks, the post did garner 60+ comments and whole response posts like this one from Dave Cairns.

Predictions that coworking folks might find interesting: 2-3% utilization of corporate offices, city flight + rural living, global hiring and ‘micro coworking’ (the idea of flex workspace on every block).

πŸ‘‰ Read this.

πŸ”΄ Period products for workplaces company raises round

Claire Coder shares that Aunt Flow have raised an $8.5M Series A led by JLL Spark.

Although the interview sits behind a paywall, I wanted to highlight their success in making these products accessible, available and obvious in large workspaces. Reminds me of the campaign from back in 2019 to bring tampons and liners into every coworking space.

πŸ‘‰ Read this.

πŸ’¬ Steps operators are taking to meet the changing needs from flex

A panel of flexible workspace experts discussed what steps operators are taking to meet the changing needs of occupiers as we emerge from the pandemic.

On the panel were Jules Barker (WiredScore), Niki Fuchs (Office Space in Town), Natasha Morris (Landsec and Myo), Paul Orrock (Yardi), John Williams (The Instant Group), Jack Williamson (Workthere) and was chaired by Simon Creasey (Property Week).

Topics discussed: flex demand bouncing back, types of demand, ESG, technology, and the future of flex.

πŸ‘‰ Read this.

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πŸ’» Coworking technology.

🍫 Workplace f&b(&s) platform raises series A.

Nathan Rosenstock shares that Crafty (which centralizes how workplaces manage food, beverage and supplies) have raised a $10M funding round.

Whilst a lot of the post looks into how they weathered the recent storms, it also looks into their ‘in a box’ offerings for remote workers. I believe Crafty + coworking could be a huge opportunity for both sides, so Nathan and any interested coworking spaces, I invite you to ping me a message and let’s see what we can all do together.

πŸ‘‰ Read this.

πŸ“ˆ Coworking data.

πŸ“Š Have you heard of ‘flex arbitrage’?

Jade Tinsley from coworkintel introduces the concept of flex arbitrage (spoiler: its when flex workspace operators rent traditional office space and then rent out smaller ‘pieces’ of it at higher rates) and dives deep into which US cities are best suited for this model.

I’m a sucker for data-driven interactive graphs, so I love this piece and find it fascinating that Columbus, Baltimore and Overland Park all have a flex arbitrage ratio above 5, and 4 cities including Santa Monica, Long Island and Miami have a ratio below 2.

πŸ‘‰ Read this.

πŸ‡¬πŸ‡§ Demand for flex space up 300% in UK

Michael Glynn from CBRE shares their Q1 Flex Market Update for the UK market.

Some key takeways are that demand is up 300% from pre-pandemic levels, with London seeing the most significant rise in demand, followed closely by Bristol and Manchester.

Interesting also, to see that CBRE have secured 7.7k desks since Jan 2021, with an avg of 40 desks per transaction in Q1’22.

πŸ‘‰ Read this.

πŸ‡¦πŸ‡Ί 3 trends emerging in post-pandemic hybrid work

John L Hopkins and Anne Bardoel carried out research in Australia looking at satisfaction with different kinds of hybrid set-ups, including who has set the location parameters.

They asked 1,421 knowledge workers 46 questions and the results are interesting to anyone servicing remote workers and/or hybrid employers.

This caught my eye: “When asked to choose their ideal work arrangements, the most popular choices were having control over the location where they work and when (23.0%), followed by working remotely full-time (22.8%).”

– Shared by Pilar Orti

πŸ‘‰ Read this.

🀝 Coworking market moves.

πŸ˜‹ Alternative workspace platform acquires NYC rival

Maisha Burt shares that DC-based WorkChew have acquired NYC-based KettleSpace to expand their reach into the region.

Both platforms focussed on making underutilized restaurant and hotel space available as day-time workspaces for their communities.

πŸ‘‰ Read this.

🎨 Modern commercial real estate agent rebrands

Nick Patterson shared that Properly have become XIX. And in this post, Aidan Twomey explains why.

As a “new class of commercial real estate agent”, the XIX team works with a bunch of coworking brands to help place teams of all sizes.

πŸ‘‰ Read this.

πŸŽ™ Coworking conversations.

Ben Wright and William L. Edmundson chat about what 2022 has in store for the coworking industry as it moves from recovery to growth.

🎧 Listen to this.

Johanna Voll and Dina Sierralta talk about their fascination with coworking and the kind of New Work they want to drive forward via the German Coworking Federation.

🎧 Listen to this.

Liz Elam and John Williams chat about _The Instant Group _tripling in size over the last 3 years, more opportunities for clients, shaping the market and pulling global demand.

🎧 Listen to this.

Jamie Russo dives into why/how coworking operators should get clear on why they serve, what value they provide and understanding active market segments.

🎧 Listen to this.

πŸ“† Coworking events.

🏒 Flex & the future of office buildings

Apr 28: JLL is hosting a live panel on how incorporating flex adds value for landlords and their tenants.

πŸ‘‰ Read this.

🌱 Convo: Eco-friendly coworking brands

Apr 29: How can you build an eco-friendly coworking brand and promote a sustainable business?

πŸ‘‰ Read this.

🌱 Sustainability for companies: Is it mandatory?

May 11: It is becoming easier to find companies that take into account social, economic and environmental criteria in their economic activity. This hybrid roundtable (in Spanish) will analyze whether the application of sustainability policies in companies has become essential or is still just an option.

– Shared by Marina

πŸ‘‰ Read this.

About This.

ThisWeekInCoworking.com is a weekly newsletter summarizing the coworking celebrations, stories, market moves, tech updates and discussions you may have missed.

Newsletters are curated by Hector Kolonas and made available for free via email or this website.

Other Summaries.

Week 25, 2022

This week we see why a VP disliked coworking, new stats from India, increased competition with landlords in Australia, an ask for support, and more.

πŸ‘‰ Read this.

Week 24, 2022

A shift in how space is found, a new coworking awards program, the future of space is flex, soft-landing with coworking in Venice, traditional expansions in US and NZ, could platforms be more supportive, and more.Β 

πŸ‘‰ Read this.

Week 23, 2022

Some topics we see this week: a coworking tragedy, gyms, two hotel + workspace moves, a look into Africa, a huge 4-day week trial, insights behind adapting a 90M sqft portfolio, $500B in value destruction and more.

πŸ‘‰ Read this.

Week 21, 2022

This week we explore a thought experiment, a hiring advantage, believing in community, HR teams doing viewings, acoustics, creators in London, big proptech rounds, M&A in Hong Kong, pouring millions into a hyperlocal economy, and more.

πŸ‘‰ Read this.

Week 20, 2022

This week we saw a grocer + coworking partnership, AI-driven dynamic pricing, airport lounges added to a booking platform, a P3 hub launch, data on average hotdesk pricing, more cross-Atlantic market moves, and more.

πŸ‘‰ Read this.

Week 19, 2022

This week we explore writing down ideas, see coworking stories from London, Canada, Madrid and insights from Australia, as well as look into mail management, state of flex data syncing, e-scooters, what’s happening with those 800 closed locations and more.

πŸ‘‰ Read this.

Week 18, 2022

This week we explore subtext to Airbnb’s announcement, airline miles from workspace bookings, a billion-dollar takeover, 5 million steps for charity, a mega franchise merger and growth in flex demand and supply across US, Canada and the UK.

πŸ‘‰ Read this.

Week 16, 2022

An 8.7% dip in local footprint, a US franchise spin out their software, a new academic study, explore ad spend arbitrage and a space partnership aiming for 500 locations.

πŸ‘‰ Read this.

Week 15, 2022

This week we explore if buildings can have souls, the office sector’s cataclysmic change, if architects suck at designing coworking spaces, see WeWork + Yardi partner up, see US flex demand soar up by 58%, a strategic investment tying up SaksWorks + Convene, a $30M investment into coworking in Tier II cities in India, and a prop dev in London doubling down on flex. And more.Β 

πŸ‘‰ Read this.

Week 14, 2022

This week we explored small-town coworking in Canada, crowdfunding to expand, a Β£1.4B drop in UK flex space, 2 more platform acquisitions, underdog city expansions and more.

πŸ‘‰ Read this.