global franchise newsletter sign up graphic

Stay in the know and receive the latest international franchising news, insight and investment opportunities

close catfish

The proven resilience of coworking franchises

The proven resilience of coworking franchises

How the pandemic showcased the true potential of this emerging industry.

Keep up to date with the latest Global Franchise News sent straight to your inbox. Sign up here.

Lockdowns will end, but this doesn’t signal a return to the office for thousands of workers. In fact, the very idea of work has been turned upside down. While many have talked about the future of work and what that looks like, change was slow to happen. We are now witnessing in real-time the end of conventional ways and overwhelming acceptance of a fresh and better approach to work.

Now that people have successfully worked remotely, they won’t want to stop. Even the most skeptical employer has now embraced remote working. Coworking providers are waiting to welcome workers from all industries into safe environments where they can still connect, be productive, and most importantly, work safely.

In fact, Global Workplace Analytics predicts 30 per cent of people will continue remote working for the foreseeable future. So where will businesses and professionals go to work?

The future is now

Coworking spaces have reimagined work and are poised to open their doors to a host of new clients eager to ditch their kitchen tables in lieu of an environment where they can network, innovate, and collaborate.

Last March when COVID-19 began disrupting the business landscape, many business owners weren’t sure about how they would provide their employees with access to workspace since they could no longer go into their traditional offices.

Especially as companies and employees fled from central business districts and major cities, the opportunity for expansion and success in the coworking market continued to grow. As companies shifted their focus away from traditional downtown office space, which is incredibly expensive and inflexible, they set their sights on the suburbs.

“Lockdowns will end, but this doesn’t signal a return to the office for thousands of workers”

This opened up new opportunities for coworking providers with suburban models, especially as the idea of remote work setups grew on both employers and employees. According to a survey of Fortune 500 CEOs, over 25 per cent of leaders were looking at adopting permanent remote work setups for part of their workforce due to the COVID-19 pandemic.

This shift in how major corporations instruct their employees to work positions the coworking industry for further demand, especially as the cost continues to play a large role in decision making. The cost-effectiveness of flexible workspaces was already evident to many employers and businesses, but as COVID-19 continues to alter the way work is conducted, we expect demand to rise even further.

“CFOs, already under pressure to tightly manage costs, clearly sense an opportunity to realize the cost benefits of a remote workforce,” stated Alexander Bant, practice vice president of research for Gartner.

Creating convenience

Coworking – especially in suburban markets – offers workers many benefits that they have found to be incredibly useful. Perhaps one of the biggest benefits to employees and business owners is convenience.

For many employees, their jobs required long commutes, spending hours in traffic, or crammed together on public transportation. The pandemic made public transit unsafe, and with many people working remotely, there was no longer any need to commute into cities, which made the convenience of walking down the street or taking a quick drive to a suburban coworking location a major benefit for workers.

“Franchising will play a major role in the rebuilding of the economy”

Another benefit that employees have enjoyed about flexible office space has been the amenities provided. For the first couple of weeks of quarantine, millions of workers across the country were stuck working from kitchen tables or couches and put up with distractions and poor internet connection.

Obviously, this was a major pain point for both employees and businesses. Flexible workspaces provide fully furnished offices with desks, strong internet, and access to copiers and printers – all amenities that the average worker doesn’t have access to at home.

Flex is here to stay

It is clear that coworking is going to play a major role in the success of businesses of all kinds. Ben Munn with Jones Lang LaSalle – a major commercial real estate services firm – noted: “Demand for coworking space is very much driven by people who need a location to work that isn’t their home. We absolutely see that flex will be a bigger part of the way companies provide space in the future.”

From a franchising perspective, this opens the door to a new world of demand. Franchising is a counter-cyclical industry, which means that during times of economic downturn, franchise businesses tend to see an increase in interest and prospective franchisees.

Many franchisees are searching for an opportunity to not just become their own bosses, but also to become an integral part of their local community. Franchising a coworking space provides entrepreneurs the perfect opportunity to not only get into business for themselves but to also support other local business owners who may be chasing their own entrepreneurial dreams by providing them with access to workspace from which they can grow.

A key factor to coworking success in 2021 is going to be how businesses establish a human-to-human connection with their members. At Office Evolution, our franchisees – referred to as ‘Ohana’, which is Hawaiian for family – help us forge a strong bond that stretches from our corporate office, all the way to our members.

Franchising will play a major role in the rebuilding of the economy. In order for that rebuilding to take place, people will continue to need a convenient and flexible space where they can get work done, safely.

The increased demand for coworking space will continue to rise in every market across the country, especially as businesses begin to implement full-time remote work models to provide their employees with the benefits of convenience and flexibility. Coworking franchisors are eager to showcase the success that their concepts have had throughout 2020, and are eager to welcome in prospective franchisees seeking ways to get into business for themselves while playing a major role in bolstering their local business community.

THE AUTHOR

Andrea Pirrotti- Dranchak is the chief marketing and development officer for Office Evolution.

Global Franchise Meets.

An inspirational new web video series where we meet the business leaders and influencers in International Franchising.

you may be interested in

franchise directory

  • TaxAssist Accountants

    Business & Professional Services, Financial Services, <100K, Featured

  • Cafe2U

    Food & Catering, Coffee, Take-away, <100K, Featured

  • 800 Pizza

    Food & Catering, Fastfood, Pizza, Take-away, Featured

view more
Connect with Linkedin Logo
Global White Logo Click Here
Close button

WHAT DO WE USE YOUR INFORMATION FOR?

Any of the information we collect from you may be used in one of the following ways: To personalize your experience (your information helps us to better respond to your individual needs) To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you) To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs) To process transactions your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested. To administer a contest, promotion, survey or other site feature To send periodic emails The email address you provide for order processing, will only be used to send you information and updates pertaining to your order. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

HOW DO WE PROTECT YOUR INFORMATION?

We implement a variety of security measures to maintain the safety of your personal information when you place an order or enter, submit, or access your personal information We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be stored on our servers.

DO WE USE COOKIES?

Yes (Cookies are small files that a site or its service provider transfers to your computers hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information. We use cookies to help us remember and process the items in your shopping cart, understand and save your preferences for future visits, keep track of advertisements and compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future. We may contract with third-party service providers to assist us in better understanding our site visitors. These service providers are not permitted to use the information collected on our behalf except to help us conduct and improve our business.

DO WE DISCLOSE ANY INFORMATION TO OUTSIDE PARTIES?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

THIRD PARTY LINKS

Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

CHILDRENS ONLINE PRIVACY PROTECTION ACT COMPLIANCE

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

ONLINE PRIVACY POLICY ONLY

This online privacy policy applies only to information collected through our website and not to information collected offline.

TERMS AND CONDITIONS

Please also visit our Terms and Conditions section establishing the use, disclaimers, and limitations of liability governing the use of our website at globalfranchisemagazine.com/terms-conditions

YOUR CONSENT

By using our site, you consent to our online privacy policy.

CHANGES TO OUR PRIVACY POLICY

If we decide to change our privacy policy, we will post those changes on this page

CONTACTING US

If there are any questions regarding this privacy policy you may contact us using the information below. All correspondence relating to the Website should be sent to: Global Franchise 21/23 Phoenix Court Hawkins Road Colchester Essex CO2 8JY Email: subscriptions@aceville.co.uk