After experiencing a major slump in the last several months, the coworking market is rebounding and could come back stronger than ever.
As more professionals get vaccinated and grow weary of working in their homes, coworking operators are positioning themselves as the perfect solution for those who don’t want to return to their main office full-time, but still need a place to retreat.
Even industry players like the Wing and WeWork, who have both faced intense scrutiny over the past year or so, are seeing their membership numbers bounce back. Now, major companies who want to cut down their own real estate footprint are turning to coworking firms to find an alternative office solution.
Aside from the obvious big names, other smaller competitors are popping up around New York and other areas.
For instance, take startup Codi, which has been referred to as the Airbnb of the coworking world. The San Francisco-based company allows hosts to rent out space in their homes to workers who want a change of scenery.
Other operators are tapping into a more casual market by transforming common social spaces, such as coffee shops, restaurants, breweries and other places where people commonly gather, but may see slower activity during the day.
Another example is Work From Kindred, which was founded by restaurateur Moshe Schulman who wanted to offer his restaurant in the East Village as a temporary workspace. On weekdays from 9 to 5, users can come into Kindred and have access to WiFi, coffee, power outlets and a bathroom for $25 each day.