Let's Talk About Coworking

Coworking is getting a lot of bad press recently. Because of it’s popularity, WeWork is often the first coworking company modern professional think about, which has damaged the general perception of coworking more broadly. After WeWork pulled its IPO indefinitely, economists and business professionals more generally began to question the coworking model. NYC’s largest office tenant, WeWork seems to be dominating the industry. 

WeWork did an exceptional job at branding themselves; in just a few short years, they became one of the (if not the) most well known coworking spaces in the United States and globally. Trendy interior design and social media engagement led to a boom in apparent success for the brand, but the company is struggling financially and bankruptcy may be on the horizon. Former CEO, Adam Neumann is being criticized for his work habits (tequila in conference rooms, etc.) and his unrealistic perceptions of the future of We as a company and brand. 

However, there are thousands of hyper-local and niche coworking and flexible office companies that are succeeding in today’s gig-economy. The Wing, for example, is a women-oriented coworking space with offices in the same major cities as WeWork. Unlike WeWork, however, The Wing is a company with a niche market — they market specifically to women: mothers, female CEO’s, female business owners, etc. The Wing hosts networking events for women and fosters professional development for women in business, something that brings a huge value to their brand. Their value does not come from their trendy spaces or cool instagram persona, it comes from the unique benefits they bring to their members. Having a set market, one that is not overly broad or undefinable, allows a coworking space to foster a an authentic community that feels personalized and welcoming for its members. Many people join coworking spaces for the sense of community — if a business can create a community, they will likely succeed.

On the South Shore of Boston, alone, there are countless flexible office and coworking companies like Workspace, each offering unique different services. Workspace, for example, offers a strong community of small businesses, lawyers, and independent professionals. Located across the street from the commuter boat to Boston, Workspace provides easy access to the city and simultaneously eliminates the daily commute. 

Despite WeWork’s downfall, the coworking industry is still incredibly strong: people will always need a place to work. Evidently, the successful companies in the industry are clear about their message and work tirelessly to foster the growth of their community and members. A coworking space should feel welcoming, like a second home; local and niche spaces are able to provide such an environment.

Interested in checking out our spaces on the South Shore? Give us a call: 888.701.3246