In 2005, Brad Neuberg launched the first co-working space in San Francisco. No one showed up for the first month; however, self-employed people and freelancers soon became interested in trying the then new co-working space. Today, around 10,100 co-working spaces are open worldwide and provide a shared working space to an estimated 735,000 self-employed people, freelancers and small business groups.
Why have Co-working Spaces become More Popular?
Research by co-working space owners predicts that co-working membership could pass one million members worldwide by 2018. Today, millennials are becoming the majority of the workforce, and they prefer to work in co-working spaces. According to research, millennials will be 75 percent of the workforce by 2025.
Embracing the Co-working Environment
Corporations have already started to use practices that were pioneered in a co-working environment to appeal to young talent attracted to co-working spaces. Companies are redesigning their offices to feel and look more like co-working spaces. For example, corporations are supporting unassigned seating, activity-based workstations and having several departments in one room.
Using Software to Manage Co-working Spaces
Technological advancements help shape the evolution of the co-working space. From the members of a co-working space to the managers that run it, technology benefits everyone. For instance, managers use software to automate the daily operations of their space. They can use the software to gather contextual data about how their members are using their space.
With the use of software, administrators can be informed on how often their meeting rooms are booked, which types of members contribute most to their recurring revenue and which shared areas are the most popular. Managers can use this data to make educated business decisions that help their business achieve long-term goals.
Venture X offers an outstanding franchise opportunity that helps you open your co-working space franchise. Our co-working spaces are a combination of a modern office space and a boutique hotel.
To inquire about our franchise opportunities, call 1300 653 768.