Traditional coworking spaces are struggling in the constantly shifting world of remote work.
More than 32.6 million Americans are expected to work remotely by 2025. But only 46{e6a1e97ec1a15155ca0ed8c3e87721e561c99ed6e52274045963a20278fc2089} of coworking spaces are profitable.
Why is this discrepancy occurring?
Let’s explore some of the reasons behind the demise of the traditional coworking model.
And also look at how community coworking is emerging as a leading model for the future of work.
The Downfall of Traditional Coworking
Conventional coworking spaces suffer from a number of serious problems. First of all, each workstation costs between $200 and $700. This makes them extremely unaffordable.
Many remote workers find it very difficult to get started because of this pricing structure, especially small business owners and freelancers with little resources.
Furthermore, coworking spaces sometimes find their financial freedom restricted by high-risk real estate investments.
Due to their long leases and high overhead, typical coworking spaces find it difficult to adjust to changing market demands.
This can result in unstable finances and, in certain situations, closure. Apart from the cost issue, traditional coworking spaces are frequently isolating spaces.
These areas don’t promote real friendships in a culture where 58{e6a1e97ec1a15155ca0ed8c3e87721e561c99ed6e52274045963a20278fc2089} of adults say they feel lonely.
Many people find it difficult to build meaningful relationships in these circumstances, even though they are surrounded by other remote workers.
It’s shocking to see that a sizable percentage of participants, such as 69{e6a1e97ec1a15155ca0ed8c3e87721e561c99ed6e52274045963a20278fc2089} of WeWork users, find it difficult to form deep social bonds or friendships in these settings.
People who cowork have a sense of alienation and disconnection due to the fundamentally flawed absence of social engagement and community.
Furthermore, conventional coworking spaces don’t stand out from the competition or provide a variety of activities outside of work.
Almost half of coworking space users feel cut off from any sense of community due to the lack of social events.
A uniform ambiance where each coworking space feels the same is a result of the cookie-cutter approach taken by many of them.
Meaningful contacts and interdisciplinary collaboration are limited by this lack of diversity and innovation, which stifles creativity and collaboration.
A new paradigm, known as community coworking, is arising as a result of the drawbacks of traditional coworking.
There are some organizations spearheading this movement, which places an emphasis on accessibility, diversity, and involvement in the community.
These organizations set themselves apart by encouraging specialized communities and emphasizing interpersonal connections.
They arrange happy hours, coworking sessions, and communal lunches to foster a community where people may develop deep connections.
Also, they drastically lower operating costs by utilizing unused rooms in hotels, bars, and restaurants, unlike standard coworking spaces that are burdened by expensive real estate fees.
By combining social networking, workspace solutions, and community building in a fluid manner, this idea of community coworking redefines the coworking experience.
This is how modern organizations perform better than their predecessors:
Real Connections:
By facilitating real connections between members, they foster a sense of belonging that is distinct from the surface-level interactions found on popular social media platforms.
Members can meet like-minded people, exchange stories, and work together on projects through carefully planned events and activities.
Affordability:
Provides affordable coworking alternatives without sacrificing quality, with monthly memberships beginning at just $30.
Through the elimination of costly leases and other expenses, they are able to distribute the savings to its members, expanding the accessibility of coworking to a wider demographic.
Diverse Communities:
Ensures inclusivity and diversity by serving a broad range of demographics, from entrepreneurs and creatives of color and cuisine enthusiasts.
By welcoming people from all origins and viewpoints, they create a lively, welcoming community where everyone is treated with respect and value.
Works with community organizers to give them a platform to make money off of their projects and support their communities.
Community organizers may offer workshops, cultural celebrations, or networking events and still make meaningful experiences for their members and earn extra revenue sources.
Conclusion
By emphasizing interpersonal relationships, accessibility, and community empowerment, the idea of community coworking essentially personifies the true core of coworking.
It is critical to adopt innovative coworking models like this in order to build satisfying and long-lasting coworking environments, as remote work continues to transform the professional landscape.
Source: Tavern Community
