Some trends come and go without hardly a person noticing. Yet for every pet rock and fidget spinner that grab attention and slink back into the shadows, there are examples like coworking space that become permanent fixtures, lending businesses such efficiency and flexibility, many organizations are left wondering how they ever operated without them in the first place.
Given the frequency and speed that different trends hit the business landscape, it’s easy – perhaps even warranted – for companies to look at coworking space with a skeptical eye. TenantBase is here to assure you that coworking space is something that is here to stay and will only continue to evolve with the marketplace, flexing and pivoting as needed to meet the dynamic needs of organizations well into the future.
A New & Revealing Infographic
For those of you that still need convincing, TenantBase has prepared an infographic that distills the rising popularity of coworking space, what the typical shared space offers an organization, and a peek into their financial success. If the proof is in the proverbial pudding, then our infographic based on data from Deskmag's 2018 Global Coworking Survey should be all you need to embrace coworking space as a lasting, much-needed source of adaptability in an ever-changing business landscape.
Numbers Don’t Lie
Although more thoroughly represented in TenantBase’s coworking space infographic, even a quick glance at the data reveals the growing impact of coworking space in organizations of all varieties. In terms of average properties, the number of members, desks, and square footage have all risen by double-digit figures year-over-year from 2017. From a tenant’s perspective, these statistics are especially appealing since average square footage per member and desk also exhibited double-digit growth, meaning companies have room to grow and not condensed into smaller space.
No matter how beneficial coworking space is to companies, they will only continue to thrive if they are financially sound for their owners. Again addressed in TenantBase’s new infographic, the economic sustainability of coworking space is robust indeed, with average profit margins of 7.5% and a 12% rise in profitable properties which, coincidentally, was also accompanied by a 12% reduction in properties operating at a loss in 2017.
For a closer look at the data supporting the increasingly important role coworking space occupies in the business landscape, spend a few moments with our new infographic and glean new insights into its impact. As always, TenantBase is here to guide you through all of your CRE needs, including your search for the ideal space to the ever-important negotiations. From coworking space to warehouse facilities, manufacturing centers to flex space, TenantBase has the expertise needed to make the very most of your office space and build towards a successful future.