The co-working space trend started in 2007, but it didn’t take off until a couple of years ago. Now in Australia’s business districts, the rise of co-working spaces has proven that it is not just a fad and it may be here to stay — thanks to millennials.
The shared office space franchise is seeing a bright future as more Millennials enter the workforce. The flexibility and the environment that co-working spaces offer fit the preferences of Millennials.
Flexibility for the Free-Spirited
The Millennial generation has prompted shifts in working trends in different industries including social media, real estate and marketing. Millennials, who crave flexibility and who have tried to step away from traditional work models, have found that co-working spaces suit their preferences when it comes to getting the most out of their productivity.
As a generation who values work-life balance, shared offices provide spaces that are not only conducive to productivity but also accessible to other amenities like cafes, gyms and recreational hubs.
Co-working spaces also create a platform for entrepreneurs to network and collaborate freely. Millennials strive to achieve a free-spirited, professional lifestyle and the community-centric setup of co-working spaces allows forward and relaxed interactions in an environment conducive to creativity among entrepreneurs.
A Healthy Focus on Work
Contrary to the responsibility of maintaining the cleanliness of a workspace, co-working spaces take away this responsibility, so patrons can focus on their work. Moreover, renting space in a shared office doesn’t involve a long-term contract. Entrepreneurs and freelancers can come at any time they want and stay for as long as they want since there are hourly, daily, and monthly payment options.
Work isn’t as toxic as it could be in more traditional setups. A co-working space can be healthy for millennials who feel productive when surrounded by like-minded individuals. Rather than working in a strict, rigid office setup, co-working spaces motivate and boost morale through coffee breaks and spontaneous socialising.
Australia’s co-working industry continues to grow as the demands of Millennial professionals also grow every year. If you want to be a part of this industry as a franchisee, feel free to contact us today.