Which industries are the most likely to make use of coworking spaces?
The adoption of flexible office spaces by some of the country's most dynamic industries is driving the growth of the coworking space market.
IT Services and Software Developers
Software companies seek out remote workspaces for their advanced tech infrastructure, in-house conferencing capabilities, and coworking space availability, whether for team collaboration or individual coders and developers.
Financial and legal assistance
Many lawyers and financial planners devote a significant amount of their time to either research and writing or working with clients — not both. Rather than paying for a large office with reception, conference, and private office spaces, a coworking space can provide these only when they are needed, saving money and increasing convenience. Additional space adjustments can be made for busy seasons, such as tax season, versus slower seasons
Services for Marketing and Advertising
Many creative service industries require a wide range of spaces to run their businesses, from private offices to collaborative workspaces to event spaces for press conferences or product launches. They may also require in-house catering or other services. A coworking space can provide any or all of these services at a lower cost.
Emerging industries, such as cloud-based businesses or financial technology firms, necessitate a robust technical infrastructure as well as video conferencing and digital media marketing capabilities. Rather than renting an expensive traditional office suite and customizing it to meet their specific needs, these businesses can find everything they need already installed in a high-tech enabled coworking space.
What is the most important factor in selecting a space?
According to our most recent member survey, location is by far the most important factor to consider when selecting a coworking or flexible office space. Approximately 76% of those polled said location was Very Important in their decision making.
Of course, this makes sense given that many people looking for coworking spaces are motivated by their role as remote employees or as business leaders looking to create a convenient office space for their local employees.
Furthermore, we are entering a new job market driven by Millennial professionals who value self-care and work-life balance, which is difficult to find with long commutes and inconvenient work locations. The target market for coworking spaces, then, is made up of people who value convenience and location above all else.
Digital marketing for coworking spaces should be geographically optimised to ensure you reach the right people in your local market. Additionally, consider testimonials and referral incentives to convert your satisfied current members into a source of future growth.
Freelancers / Remote Workers
Many people are familiar with the target market for coworking space — a solopreneur or remote employee who only needs desk time for a few hours per day or a few days per week. While some of these people will simply require any available desk, others may require additional space, such as a conference room or flexible office for client meetings or collaborations.
While many remote workers are thought to be service providers, an increasing number of CEOs and COOs are demanding the flexibility of a remote office to streamline their own creative process and provide additional work-life balance. Furthermore, CEO influencers can use video conferencing suites and podcasting studios to create digital marketing content that propels their company's growth.
Small businesses and teams
Small businesses and teams are becoming an increasingly important part of the coworking space market. They may require a block of semi-private office spaces with one private office for the team lead, or they may prefer to work in a collaborative space such as a conference room, depending on the industry.
The flexible terms provided by coworking operators are ideal for the way small businesses and teams operate. Coworking and flexible office spaces are an excellent choice because they may require different types or sizes of space at different times, or may only require space for a limited time.
Corporate clients are the most numerous and rapidly expanding users of coworking and flexible offices. Today's corporate clients face a number of recruitment challenges that can be addressed by utilising flexible workspaces. Everything from attracting new employees by allowing them to work close to home, to creating collaborative spaces for teams and special projects, to providing remote workspaces for employees who are temporarily out of town on special assignment, may necessitate the use of a remote workspace.
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