iWorkSpaceMail understands that you have better things to do than manually process billing and customer accounts – even if our digital mail solution does unlock two new recurring revenue streams.
That’s exactly why we’re working with Syncaroo to integrate with your favorite workspace management systems.
More revenue, less busy work.
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๐ Coworking celebrations.
๐ Intelligent Office of Rockville celebrates 20 years. #
They also were just named "Small Business of the Year" by the Greater Rockville Chamber of Commerce. Congrats IO of Rockville team!
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โ Coworking impact.
๐ง Hub launches to support charities in the heart of Victoria, London #
Rupert Dean from x+why shares that their new Fivefields hub (in partnership with Westminster Foundation and Grosvenor) has opened and is already supporting charities who support children and young people.
"This is going to be an eco-system for like-minded charities to grow, network and collaborate with each other, through shared interests and challenges. This is truly about impact."
Love it!
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๐๏ธ Orega attains bronze SUPER certification #
Zach Douglas shares that Orega have achieved a Bronze accreditation from SUPER (Single-Use Plastic Elimination or Reduction).
"We believe that all actions add up to a big impact. By taking these steps to reduce our reliance on single-use plastic, we hope to make a positive difference for the environment and pave the way for a more sustainable future."
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Coworking news & views.
๐ A dive into an increasingly popular flex space product #
In today’s evolving workspace landscape, the concept of private office coworking spaces is gaining significant traction. This guide delves into the world of private offices within coworking environments, exploring why they exist, who benefits from them, and the business opportunities and challenges associated with this model.
Why this matters? I still know a lot of coworking space operators who are only offering hot/fixed desks and meeting rooms, but are always exploring whether private offices could be worth the effort.
๐ Read this.
๐ก Going back to coworking basics #
Tony Bacigalupo shares how they’re going back to ‘the magic’ of coworking they found way back in 2017. How? By hosting coworking meetups in local cafรฉs.
In the attached longer break-down of what went into it, and how it all went, Tony also invites others to go back to basics and arrange meetups near them. Is this completely separate from "coworking" spaces? I don’t think it has to be. There’s whole communities of people who wouldn’t "try rent a desk" but would "meet up and work with other people".
How these two groups can support each other, I’ll leave to you amazing community leaders.
๐ Read this.
๐ค How one hub is empowering artists to succeed #
We sat down with Jason Jet and his superstar community manager, Nia Zhane, to learn more about Grindhaus Studios and the journey to build an exceptional niche coworking space.
Nichification of flex space (and community support) is undeniable. In this week’s newsletter alone we see two glowing examples of businesses being built to support music producers and creators.
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๐ฐ Firm pays $79M to drop 165k sqft of office space #
Dropbox reported that they’re paying $79M to their landlord under a lease amendment for it’s HQ "whereby the company will surrender to the landlord 165,244 square feet of office space and pay an aggregate of $79 million."
The 3-tranche payment and move out definitely signaled to office market observers and insiders that firms are seriously assessing their office space liabilities. The move will save the firm $137M in rent and $90M in common area maintenance fees over the remaining 10-year lease.
What’s this got to do with coworking?! Well… for those keeping count that’s 148M reasons to make this move, and a very healthy budget for getting their employees into any/every coworking space they’d like to use. ICYMI: Dropbox is already giving their teams access to drop-in and other flex spaces through Desana.
๐ Read this.
๐ Why one member believes coworking is their best investment #
Mike Taubleb shares why they believe a coworking membership (at Nomadworks btw) was one of their best business investments. In short? Friendships, events, space to focus, hosting clients, visiting doggos and extra perks like getting professional headshots.
Love to see it! Don’t discount the power of puppies and useful perks.
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๐ชง Is a $3,700 sign worth it? #
Craig Baute baits us into a story we’re going to have to follow. They’ve got a community of 102 hot desking members in Chicago, and the space has no real signage.
Will the $3,700 investment in putting up a ‘real sign’ have any impact on their business? We’ll have to report back when Craig shares an update. If you’ve invested in signage, did it drive business?
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๐คฉ A firm promoted working remotely, 15+ years ago. #
Isabel Garcia shares how over 15 years ago they promoted that folks could "work from anywhere, anytime" at a conference in Montreal.
Talk about being on the money!
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๐น Wild lounge experiment closes #
David Barrett from Expensify shares some notes behind their now shuttered "wild experiment" of opening a working + socializing lounge for their employees (and the public) in downtown San Francisco’s financial district to see if it would bring more workers back to the office voluntarily. The answer was, albeit a successful brand experience and incubator for product innovations, an astounding "mostly no".
They did learn a lot, especially how hard it is to run a coworking space. I think the next logical step is partnering with coworking spaces instead. Right?
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๐ป Coworking technology.
๐จ Digital mailroom provider taps Syncaroo for integration rollout #
iWorkSpaceMail with iPostal1 have announced that Syncaroo will be building and running their integrations with leading workspace management systems.
The integrations allow operators to leverage their mailroom technology, whilst automating billing and customer management through existing inventory and workspace management technology platforms.
Operators are invited to join the priority list for early access and to learn more about how the solution can create two new recurring revenue streams for flex space businesses.
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Coworking data.
๐บ๐ธ US Flex supply remains stable, despite decrease in national sqft coverage #
Researchers at CoworkingCafe explored the coworking space stock availability for October in the 25 largest US markets, as well as their size and distribution.
Location wise: total flex location count is 6,172 (up 0.15% from Q2), whilst 13 markets saw a decrease in location count (Manhattan saw a 11% dip). Raleigh-Durham & Phoenix did see a 13% and 11% increase respectively.
Sqft-age wise: National square footage covered by flex dropped from 120M in June to 117M in October. Following locations, Manhattan and New Jersey saw 11% less sqft-age, whilst Phoenix saw an 8% bump.
Price wise: Median rate for virtual offices down $125 from $143, while open and fixed desk space remained at $149 and $329.
Brand wise: Regus, WeWork, Industrious, Spaces and Premier Workspace all logged 70% of their portfolios in the top 25 markets. WeWork did see a 17% drop in the number of coworking spaces, going from 217 spaces to 180 in the top markets analyzed.
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Coworking market moves.
๐ฌ๐ง Members-only hideaway for creators launches 3rd hub #
Amin Hamzianpour shares that Qube (an exclusive network of "hideaways" for producers, DJs and audiophiles) are opening their newest location in Hackney Wick.
Why this matters? Qube offers industry leading equipment to their members. As workspaces and members clubs overlap, nichification is creating premium experiences and solutions for very select communities.
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๐ Coworking founder launches space-as-a-service co. #
Caleb Parker, who previously founded and sold Bold coworking brand, is back with his next big flex space idea. The new company, called the Brave Corporation, aims to "reposition assets in high-demand markets with space-as-a-service-led asset management strategies".
Why this matters? Caleb is experienced, has a wide network and the business is advised by familiar names like Nella Pang, Sam Gamble, Dave Cairns, Manuel Conti and Anthony Slumbers. Office portfolios are shifting towards flex, this gives landlords and acquired buildings another route to do so.
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โ๏ธ Boca Raton gets a new Office Evolution #
Laura Kaufman shares that today their new Office Evolution Boca Raton location opened it’s doors.
Seems like coworking in Boca Raton is heating up with Quest also recently expanding their location there.
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๐ Coworking conversations.
Miriam Hall is joined by Bisnow’s U.K. Editor Mike Phillips to talk about the possibility of a WeWork bankruptcy, and the impact that could have on office landlords.
๐ง Listen to this.
Zoe Ellis-Moore chats with George Sell on the Urban Living Podcast about the rise and fall of WeWork, its potential implications for flex workspace, and what needs to happen for the sector to become an institutional asset class.
๐ง Listen to this.
John Williams joins Liz Elam on the GCUC Coworking Podcast to explore the ever-evolving landscape of shared office spaces, comparing occupancy challenges in the US with the bustling coworking scene in the UK.
๐ง Listen to this.
Jamie Russo explores the concept of TCO (total cost of occupancy) and how it goes beyond initial rent costs to consider all the expenses associated with office space on the Everything Coworking podcast.
๐ง Listen to this.
Erin Maresko from Kiln (and prev. 25N coworking) shared her coworking journey and perspective on the industry on the Flex Uncensored podcast.
๐ง Listen to this.
๐ Coworking events.
๐ฌ๐ง GCUC UK #
Nov 2-3: GCUC returns to the UK. Use TWIC10 to get your discount and to get entered into the draw for an exclusive Power Hour session with Hector Kolonas and Emilie Lashmar.
๐ Read this.
๐บ Online version of Coworking Canada #
Nov 8: Due to popular demand (and their commitment to accessibility) – Coworking Canada will be hosting an online version of the event November 8th with recordings from the IRL event plus some live discussions & interaction. Co-hosted by Ashley Proctor and Tony Bacigalupo! Tickets on sale Oct 20th.
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