ThisWeekInCoworking.com

Week 8, 2022

This week we see coliving ala Disney, data from 1M coworking packages, that neon sign debate, another aggregator integration partnership, Riveter's rebirth, and more.
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πŸ—ž The Video Summary

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 

πŸ‘‰ Learn more here.

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πŸŽ‰ Coworking celebrations.

πŸŽ‚ Workthere turns 5!

Alongside some other great milestones, like helping 1,200+ companies find flex space.

πŸ‘‰ Read this.

βœ‚οΈ Minority-targeted coworking space has grand opening.

Maroon celebrated their grand opening in New Orleans on Feb 15th with a very simple goal: “build more Black-owned businesses through a community of kinship, alliance and power”.

Congrats on the launch Jade Brown Russell!

πŸ‘‰ Read this.

πŸ“° Coworking news & views.

😲 A quick summary of what went down at The Summit.

Last week community leaders from established and emerging coworking alliances gathered online. This video highlights 5 of the 9 topics that were discussed during the Coworking Alliance Summit.

It was so inspiring to listen to, and learn from, all these amazing community leaders. Already excited for the next one!

πŸ‘‰ Read this.

πŸ₯Ί Why landlords keep expanding into flex space.

Ben Munn from JLL shares an article by Alexander Colpaert that explains why more and more landlords keep investing into or launching their own flex brands.

In short? Ever-increasing occupier and corporation demand.

πŸ‘‰ Read this.

🐭 Co-living… and coworking… by Disney?!

Vulture shares the news that Disney is returning to the business of building whole neighborhoods.

Returning? Yeap. Today I learned that EPCOT actually stands for “Experimental Prototype Community of Tomorrow”. They also built a whole town called Celebration in Florida. So yea.

The media conglomerate have announced that they’re building a “Storyliving by Disney community” in California.

So… if there’s going to be magical homes and amenities like a clubhouse, beachfront and a shopping district… surely they’ll need somewhere to work from. Right?

πŸ‘‰ Read this.

πŸ’‘ The neon sign that sparked a whole debate.

Thilo Utke from Cobot shared a photo on LinkedIn of a neon-sign in the Mindspace location they were working from. It sparked over 27 comments from across the coworking world, including some charming responses from some social media teams.

So what did the sign say? “too many humans”

πŸ‘‰ Read this.

βœ… Preparing for a surge in demand.

The GCUC team share 6 things operators need to prepare for the coming surge in demand. The short list has some great reminders for operators to think about, especially with regards to not stretching too thin, or missing opportunities (and revenues).

– Shared by Stormy

πŸ‘‰ Read this.

🏒 Some landlords are circumventing flex operators.

Melanie Jones shares a link from bizjournals (that’s paywalled unfortunately), but did pull out a insightful quote from RJ Zurak from CBRE that mentioned that landlords who’ve got idle space sitting on the market would be “getting into the game themselves”, by leaning toward spending their tenant improvement allowances to integrate spec suites.

πŸ‘‰ Read this.

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πŸ’» Coworking technology.

πŸ”— Management platform and aggregator celebrate integration

OfficeRnD & Liquidspace announced a new integration this week, celebrating that it’ll become easier for spaces powered by the management platform to list their resources on the booking aggregator.

This follows news from back in week 21 of 2021 of an integration that makes OfficeRnD easily “syncable” with a growing number of other platforms and services via Syncaroo.

It can no longer be denied that aggregator and inventory databases need to be kept in sync.

πŸ‘‰ Read this.

πŸ’Έ 17 property firms create Β£116M proptech fund.

Daryl Lipman shares that Knight Frank and 16 other property firms including Fifth Wall, BNP Paribas and DAMAC Properties are investing in a new Β£116M (~$157M) European-focussed property technology fund. The fund will have a London HQ and be led by Roelof Opperman and Miguel Nigorra Esteban and focus on post-seed startups (ie raising Series A and beyond).

Interesting note that the European proptech market represents 20% of all global proptech activity in 2021, including €3.8B of VC investments across some 200 deals.

πŸ‘‰ Read this.

πŸ† Flex space pass surpasses 250 locations.

The Hubble team shared that they’ve hit the 250 locations milestone. That’s how many locations (in the UK and Ireland) are available for team members to book through their Hubble Pass offering.

πŸ‘‰ Read this.

πŸ“ˆ Coworking data.

πŸ“¦ Just how many packages do coworking spaces process?

The PackageX team share a data-driven look at the how the meteoric rise in both shipments and hybrid work are impacting how coworking spaces manage their mailrooms. The data comes from the 1.6M packages processed by their platform across 40 countries, where about 1M of those were delivered to coworking mailrooms.

It’s a fascinating data set for any space running or considering running a mail offering for full time and virtual members. Here’s some numbers that caught my attention: the average member received 41 packages in 2021, on average around 30% of packages are picked up on the same day they’re received

The average notification-to-pickup time for packages in coworking mailrooms grew from ~45 hours in Jan to ~136 hours (5.5 days) in September before dropping to ~63 hours by December.

– Shared by Waqas

πŸ‘‰ Read this.

πŸ“Š Workers are choosing home over office, but lack connection.

Pew Research Center recently expanded on the results of their recent survey. Whilst most media focussed on the fact that 61% of respondents who are working remotely said they chose not to work from the office in Jan ’22 (in comparison to 64% who said they had no choice due to office closures in Oct ’20).

However I think two other numbers paint a different picture.

First, 61% of workers who do head into the office attribute the decision to feeling more productive. And secondly whilst working from home has made it easier for 64% of workers who’ve switched to remote to balance work and personal life, a whopping 60% noted that WFH had made them feel less connected to coworkers.

That’s the whole benefit of near-home coworking hubs, in two stats. Run with it.

πŸ‘‰ Read this.

πŸ’° How much does it cost to run a coworking space?

The Skiff’s membership income over the last 7 years was Β£1,151,793.02 β€” you might be wondering where it all goes. Jonathan Markwell shares charts and numbers, whose primary source of income for the last 15 years has been working on software businesses.

Surprisingly the highest cost for software businesses is usually people; but that’s not the case for coworking spaces like The Skiff. How does this compare to your expenditures?

πŸ‘‰ Read this.

πŸš€ Two thirds of coworking spaces reported membership growth.

The results of the Coworking Trends Survey have been released by Deskmag.

A few notable numbers: 79% of spaces described their current situation as good or satisfactory, and in Europe that number is up 2x from the previous year. ‘Fear of the coronavirus’ topped the global list of major economic constraints (by far).

On profitability, there were more spaces making losses than profits in 2021 with small chains (2-4 locations) faring better than single-location or larger chains. The average occupancy was around 60% across the map, but Europe had more capacity blocked by pandemic regulations than North America (9% and 2% respectively).

πŸ‘‰ Read this.

🀝 Coworking market moves.

πŸš€ The Riveter is reborn with two co-CEOs.

GeekWire shares the news that Amy Sterner Nelson and Heather Carter will co-lead The Riveter, as it returns to the coworking business.

Some details incase you missed them: Amy recently helped launch SaksWorks after being the founder of Riveter. Heather was a VP at Riveter, but left in 2021 to launch Coterie Works to open coworking locations in hotels. Riveter will acquire Coterie as the base of their new approach to building a network of “Riveter Spaces” in high-end hotels.

πŸ‘‰ Read this.

πŸ†• The Coop opens second location.

The Coop are opening a second location in Las Vegas, following the success of their first location that opened in 2017. The new two-story location is an 18,938 sqft building.

πŸ‘‰ Read this.

πŸŽ™ Coworking conversations.

Jamie Russo discusses a bunch of interesting questions from the Everything Coworking Facebook group, including join ventures for running a cafe, managing family memberships and social media accounts to follow on the group’s eponymous podcast.

🎧 Listen to this.

Bernie Mitchell chats with Sonia Thompson about how inclusivity impacts marketing, how it is the future of marketing, and how cultural intelligence/awareness contributes to the impact of a brand.

🎧 Listen to this.

πŸ“† Coworking events.

πŸ‘‹ Discuss this newsletter.

Feb 25: Join other TWIC readers in discussing this week’s newsletter, the stories shared and the trends they may represent.

πŸ‘‰ Read this.

🍳 London Coworking Assembly March Breakfast

Mar 8: Flow are supporting the March London Coworking Assembly @ Town Square Old Street. Join in to discuss: Connecting with your local community; The affordable workspace program (W.T.F. is that?); Are any of the β€˜desk booking apps’ good for getting local people to your space?; How to attract employees from companies to your space; What helps your local community AND grows your business? and The March Coworking I.D.E.A. Project hosted by Kate Usher

– Shared by Bernie

πŸ‘‰ Read this.

πŸ—Ί Convo: Get your website right.

Feb 25: The next Coworking Convo dives into getting your coworking website right.

πŸ‘‰ Read this.

πŸ€“ Coworking Symposium 2022

May 18: A scholarly conference on coworking and flexible workspaces. Tackling various topics regarding the challenges arising from the pandemic.

πŸ‘‰ Read this.

πŸ’Ό Coworking jobs.

🀝 Deskpass is hiring a Business Development Representative.

Deskpass is revolutionizing the way humans work and they’re looking for great teammates to join the journey – is that you?

– Shared by Nicole

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 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.

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.