The coworking industry was slammed in 2020, with leasing for flexible office space plummeting 45% year-over-year in the U.S. during the second quarter.
Female coworking firms have also been victim to this fallout. For instance, Seattle-based operator The Riveter closed all nine of its locations in May 2020. The Wing also closed its doors in October 2020 due to the lockdown and reports about racial and LGBTQIA+ discrimination.
However, San Diego based company Hera Hub has not only managed to stay afloat over the past year, but has also thrived.
After its founding in San Diego in 2011, Hera Hub used a collaborative licensing model with building owners instead of a traditional lease to expand its locations. This strategy allowed it to open new spaces in Washington D.C.
Now, through partnership with CommonGrounds Workplaces, HeraHub will open three new locations in San Jose, Salt Lake City and Minneapolis.
According to founder Felena Hanson, she invested her own money, then took a small amount of angel financing two years into starting the company. She added one of the key secrets to the company’s success is that it is focused on the business aspect, rather than being a social club.
“We’ve supported more than 13,000 entrepreneurs in the launch or growth of their business,” said Hanson. “It is so rewarding to bring someone in who is brand new in business and really help them from day one. We help them build the foundation of their business, find the mentoring and resources they need and have an opportunity to see them flourish.”