The most workable ideas are ones that have been validated by the market. And the best money (and time) you can spend on your coworking space is on market research. Before spending a dollar on tech, equipment or space, spend some time figuring out the local coworking landscape — and whether conditions are right for another coworking space.
Everything you ever wanted to know about opening and managing a coworking space
There are almost 29 million small businesses in the US, 22 million of which are sole proprietor organizations with no employees other than the owner. And when you consider that 52% of these small businesses are run from home, there's a clear and growing market opportunity.
The world of office space has seen a whirlwind of change over the past 15 years. I’ve been at the executive-level of the shared office space industry, so I’ve seen a thing or two — and learned a thing or two. One key lesson I’ve taken away is the importance of striking a balance between staying ahead of the curve and continuing to observe tried-and-true business practices.