Coworking space opened across from my shop 3 years ago. I thought it was a joke until I saw the lease rates they were charging.

There's this old warehouse building on 2nd Street that sat empty for about 5 years. A developer turned it into a coworking spot with all that exposed brick and open desks. I figured it would fail inside 6 months. Fast forward to last month I walked in there to drop off a quote for patching their roof. Place was packed. They're charging $450 a month for a hot desk and people are signing up. The owner told me they have a 6 month waiting list for private offices. I don't get it but I guess I was wrong. Has anyone else seen these places actually do well in a smaller city?

2 comments

2 Comments

anthonykim10d ago

...and honestly that's basically what happened with the coffee shop I started a few years back. I rented a tiny space next to one of those coworking places thinking I'd just get the overflow from their sad little break room setup. Within a year I was doing double the business I planned for because those people practically lived there and needed real caffeine. Ngl I was super skeptical at first too but those places bring in a steady crowd that treats the whole block like their extended office. The trick for me was leaning into it hard with a punch card deal just for their members.

stella27910d ago

Wow. Smart move on the punch card thing. Those coworking people probably spend more on coffee than they do on rent. Kind of funny though. You set up next to them for a little side cash and ended up with a second job just keeping them awake. Sounds like a win either way. Just don't let them start holding meetings in your shop. That's when it gets real messy.