Truth be told, co-working business owners tend to be great at building up a business, getting it properly established, and making sure the space achieves success. From well-known co-working brands and chains like WeWork, Industrious, Serendipity Labs, Regis, Galvanize, and Venture X, to the countless streams of independent co-working brands across the United States –…
The co-working movement began with entrepreneurs, freelancers, and players in the tech industry. But having witnessed the numerous benefits of co-working, bigger organizations and corporations have also started getting interested in the concept. Note that bigger organizations like; KPMG, PwC, Pinterest, Airbnb, Microsoft, PepsiCo, GE, Heineken, and several others have already embraced the concept of…
Also referred to as ‘millennial workspaces’, co-working spaces have gradually become the lifeline of startups today. Co-working spaces are the talk of the town because of their ability to cater to workers from all types of businesses. According to industry reports, almost half of co-working space users are small businesses, with only 20 percent categorized…
Generally referred to as flexible workspaces, both co-working spaces and shared offices strive to promote efficiency and ensure employees’ comfort. Note that there are many models of the hybrid workforce and they come with varying modifications. Co-working spaces and shared office spaces are both already furnished, offering a range of amenities and a more professional…
Yes, the cost of using a co-working space can be written off in the United States. Note that you can “entirely” deduct your co-working space membership when the time comes to do your taxes, ensuring that the rent-based approach of co-working spaces remains favorable in very unique ways. Depending on your documented status as a…
When co-working first ventured into the real estate industry, landlords had little or no form of direct involvement in the business. Instead, co-working providers simply dotted the lease lines and sublet the space to co-working tenants who then pay for individual desks, offices, and conference rooms. The revenue incurred by the subtenants exceeded the rent…
Yes, co-working spaces have variable operating costs that tend to affect the financial bottom line of the space. Variable costs are business expenses that are subject to change when sales volumes change. This simply entails that variable costs either increase or decrease depending on a business’s current output. As a co-working space provider, managing variable…
Yes, income from co-working spaces is considered rent in the United States and most places in the world. Income considered to be rent is any income received from allowing another person to make use of a property, vehicle, or other assets in exchange for money or other benefits of monetary value. It can also include…
Yes, it is very possible to register your LLC using a co-working space address. In the United States, an LLC registered office address is expected to be a permanent address and not a temporary one and thus entails that the co-working space is expected to own the said premises, which is usually rare because they…
Co-working spaces tend to provide a vast range of benefits to freelancers, and these people can also leverage the tax advantages these workspaces offer. Have it in mind that paying for office space comes with a wide array of tax benefits, especially for professionals who are not looking to over-complicate the math. Co-working spaces reduce…
Truth be told, co-working spaces are not always as quiet as private offices. However, there’s a massive difference between the background noise of tapping feet or keyboards when compared to someone talking on the phone. Yes, everyone is allowed to take phone calls in a co-working space, but there are some factors necessary to consider….
In a vibrant co-working space with a close-knitted community, a little background music might indeed be a good idea. Against the incoherent and audible backdrop of footsteps, keyboard tapping, doors closing, general chit-chat, coughs, and sniffles, good music helps to distract from some of the less welcome sounds coming from members and visitors. A little…
According to experts, indoor air quality is very important for the health, wellbeing, and comfort of the occupants of a building. Regrettably, some indoor environments, especially ones that have people trooping in every day, have levels of pollutants much higher than those found outside. These indoor pollutants can cause both short and long-term illnesses, poor…
Starting and running a co-working space is indeed a very exciting venture. You get to meet interesting people every day and seek ways to help them balance their work life. According to reports, flexible workspaces are expected to witness a bright future as the number of remote workers will only increase in the post-pandemic world….
Computers and internet connections are essentially the main things that make coworking spaces possible, but they also offer new forms of distraction. Sitting in front of a computer, anyone can decide to do some shopping or even download porn. A good number of modern co-working spaces choose to leverage the honor system by setting up…
With the coworking space industry currently witnessing rapid change, the location you choose for your co-working space will definitely make or break your business. Aside from choosing the perfect location, the building itself will also have to suit your ideas. Entrepreneurs looking to start a co-working space are advised to consider their tenants’ comfort and…
The Internet forms the bedrock of our everyday life because it saves our time and makes our lives easier. We are now accustomed to shopping online, booking spaces, making appointments, having discussions, ordering services, and handling many other issues on the go, all from the comfort of our homes. In this age, people searching for…
A co-working space risk and contingency plan is a course of action that is expected to be taken if an unexpected event occurs that could disrupt the space. It is more or less a backup plan that guarantees the co-working space can continue to serve the needs of members despite an adverse event. A risk…
Yes, you can turn your apartment into a co-working space. Since a good number of successful companies often work from converted homes, deciding to convert your apartment into a co-working space is indeed a great idea. A co-working space is a shared work environment where people meet, work, network, share ideas and collaborate on projects….
The sort of furniture needed in a co-working space tends to go beyond normal office furniture. This furniture needs to be grouped to establish an environment that is productive, comfortable, creative, and inspirational. Co-working spaces usually consist of an open-concept floor plan with a vast range of work areas so that co-working members can fit…
To successfully run a coworking space, you need to be actively involved in marketing your facility, except you have enough money to hire third-party marketers to help you out. It is the norm for co-working space owners to run their marketing themselves because it is not that difficult a task. But you must be willing…
Lead generation is a marketing term that talks about deploying strategies that will help you identify potential customers that may likely be interested in your goods or services. To better put it, lead generation is the initiation of consumer interest or inquiry into the products or services of a business. Leads can be created for…
According to industry reports, the popularity of co-working spaces is exploding especially in this age of e-commuting, startups, and the freelancer economy. Most times, small-scale entrepreneurs and startups are left with meeting at homes, cafés, or renting a small room in a business building just to handle business dealings. Co-working spaces have provided a convenient…
In this modern age where competition and innovation influence the success of a business, co-working spaces remain one of the most lucrative and ever-growing investments budding entrepreneurs can make. If you own a co-working space, then you definitely know that they can generate a huge amount of revenue if run well, but marketing them can…
If you own a coworking space, it means that you must have invested some reasonable capital into the business. This line of business requires huge start-up capital and operational cost hence any investor who wants to launch a coworking space must employ all the needed tips and strategies that will make the business successful. A…
Co-working is the reigning norm when it comes to workspaces. An encouraging percentage of entrepreneurs, startups, independent contractors, employees, and freelancers now prefer to work from a co-working space. According to industry reports, the number of co-working spaces globally is expected to grow to almost 26,000 by 2022. For an industry that had just 7,805…
To have an idea of the profit a coworking space business is expected to make, you should clearly define the services such a business offers. A coworking space business provides well-equipped and secured coworking facilities where entrepreneurs, startups, freelancers, developers, businesses, and teams can meet to work independently, as well as socialize and collaborate on…
The co-working industry is graciously changing and altering the workforce of today by replacing the cubicles of old. Just within the last five years, reports have it that shared workspaces have increased at a rate of 200 percent and it shows no signs of halting. Also, the recent pandemic has taught Americans that they don’t…
Co-working space is a business service provision model that offers individuals and teams a good platform to work independently or collaboratively in a shared office space. Even though it’s a shared space, a co-working space tends to provide an environment that imitates the environment found in a well-designed workplace. Aside from being a shared office…
The co-working space business falls under the serviced office leasing (SOL) industry and operators in this industry rent or lease fully furnished office space to businesses on a part-time or as-needed basis. The serviced office leasing (SOL) industry also provides virtual office and conference room leasing options to their clients. For $49.99 a month, anyone…
Co-working is a way of working that lets freelancers, entrepreneurs, and small and medium companies share space, creating a platform that enhances collaboration and business opportunities. This simple definition helps to explain in clear terms why co-working spaces are quite different from business incubators, business centers, or traditional offices. With more people working remotely these…
A coworking space business rents or leases fully furnished office spaces on a part-time or as-needed basis to a myriad of businesses. Coworking space companies also provide virtual office and conference room leasing options. It will amaze you to note that for as little as $49.99 a month, anyone can work on Wall Street, many…
In these modern times, freelancers, consultants, remote employees, or professionals without an office can all benefit from a space where they are surrounded by like-minded individuals who motivate them with their interaction and works. Working alone from home comes with a range of disadvantages since it’s directly linked to the many dangers of workplace isolation….
