Major office space provider IWG has started adopting the franchisor model, pioneered by fast-food company McDonald’s, in its effort to edge further away from WeWork.
Working moms find a home in suburban coworking spaces
While coworking has a steady home in major cities across the nation, many operators are finding retreat in the suburbs where working moms can enjoy time to think, create, and socialization with others.
Take Work and Play for example. The unique workspace caters to moms and includes onsite childcare services in South Orange, New Jersey.
Dani Geraci, who opted out of full-time work following the birth of her first child, decided to launch a branding and marketing company out of Work and Play.
“I had missed having that environment where you sit down, have a cup of coffee, chitchat for 5 or 10 minutes before getting down to business,” said Geraci. “That is a huge part of who I am.”
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Women make up 75% of Work and Play’s membership thanks to its flexible work arrangements and services. Women take up a big chunk of overall alternative work arrangements (gig economy), rising from 8.3% in 2005 to 17% in 2015.
HudCo is another workspace that is tailored to women without being “pink” according to cofounder and interior designer Christina Cohen.
The converted warehouse has high ceilings, plentiful natural light, and a wellness space.
“We don’t want the place to resemble a Starbucks,” said cofounder Christy Knell. “We want people to get to know each other and to be motivated, inspired and connect with the community.”
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America’s malls are becoming more and more vacant, but coworking companies are taking advantage of these empty spaces to expand their services in a nonconventional way.
Flexible workspace provider Knotel has once again expanded its presence in central London, signing three new deals across the city totaling 40,000 square feet.
Office Evolution, the nation’s biggest coworking franchisor, will expand its footprint in Mount Pleasant as it continues to cater to small business owners in the area.
Although coworking spaces are often categorized as servicing major cities, tier II cities are having their moment as many startups continue to flood into these areas.
Amy Nelson, CEO of The Riveter, has made it her business to promote inclusivity of women in professional settings while also providing men tools to value gender equality.
A survey of 1,000 WeWork members found that, while some use the space out of convenience, others find the culture to have an effect on their professional identities.
While WeWork is expected to file for an IPO this year, its valuation and recently announced losses have left investors worried about the sustainability of the company.
IWG has started rolling out a franchise model, similar to that of McDonald’s, enlisting franchisees to take the reins in subleasing Regus and Spaces offices to companies.
Chicago-based Novel Coworking has purchased Denver’s 195,753 square foot, 17-story boutique office property Trinity Place in Uptown that is currently 65% leased.