As the coworking space continues to gain attention, especially with the growth of the tech industry and reports of WeWork raising $335M at a valuation of almost $5B, more potential investors are drawn to the market. With the Atlanta Tech Village, we’ve had the chance to learn first-hand about coworking and flexible office space for over two years now, and have several thoughts on the market.
Here are a few pros and cons of coworking as a business opportunity:
- Fulfills a growing desire for freelancers, entrepreneurs, and creative class employees to have a sense of community
- Capitalizes on millennials entering the workforce and their expectations of a different office environment
- Allows repurposing of existing office space into a higher value offering
- Provides greater efficiency for business expenses like internet access, conference rooms, break rooms, etc. (e.g. with a direct lease, many items are dedicated that don’t need to be dedicated)
- No barriers to entry…
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