In order to generate revenue stream, flexible office operators are offering more on-site amenities as well as partnering with other companies to expand their services beyond traditional coworking.
For example, digital marketplace LiquidSpace partners with coworking operators, office landlords, and office tenants to provide them with various flexible office options for clients.
“We’re the one platform where tenants can reach the entire flexible office market,” saidi Mark Gilbreath, LiquidSpace founder and CEO. “Landlords are using our platform and services to create ‘move-in ready’ office space and enter the flexible office economy.”
Gilbreath also said that many coworking operators have started launching subsets that focus on specialty or niche areas, such as incubators for startups or lab space for researchers.
WeWork in particular is a perfect example of finding other forms of revenue generation, with their incubator platform WeLabs and coliving concept WeLive.
In addition to starting new arms that are related to typical coworking services, some operators are continuing to offer add-ons such as virtual offices, mail handling, and meeting room rentals.
For example, coworking space Common Desk has partnered with Transwestern Development Company to create shared amenities in their 31,500 square foot space in Richardson, Texas. Will Paton, Transwestern Development’s vice president, said that the company is able to activate building amenities for tenants through programming, staffing, technology, and expertise in the coworking industry.