Despite economic uncertainty and ongoing challenges arising from the work-from-home economy, coworking trends remain strong. In Q2 2022, there were multiple reports that confirmed this strength. For example, CBRE’s 2022 Spring US Occupier Sentiment Survey, published in April, concluded that “the average office worker will spend 24% less time in the office” than before the pandemic. As a result, 73% of companies planned to transition to a hybrid workplace model by the end of 2022.  Coworking trends showed that the industry was hit hard by the pandemic, but Upsuite’s Q1 data indicated tha ..read more

The Coworking market is growing 15 % per year, but is still only 3% to 5% of the office market in many cities.  Because coworking is still in its early days, as a flexible office space operator it is vital that you reach out to the target market that is the best fit for your space, in order to develop a profitable, effective coworking business.  We wrote this piece to help coworking operators do just that:  Find Your Target Market. Learn about Upsuite’s Coworking Marketing Solutions What types of coworking spaces are you marketing? Marketing a coworking space is about so much m ..read more

“If you build it, they will come” does not apply to your coworking and flexible office space website or other promotional platforms.  And in 2022, with demand returning, we recommend that coworking operators be as proactive as possible.  Distribution is a vital element of getting your message out, and social media designed for your coworking business is the best bet for distributing marketing content to potential leads in your area. Traffic from social media will make up 20-40% of your coworking website’s traffic, if you are consistent and optimize your content. The question then bec ..read more

In 2022, your coworking website is one of your top marketing channels and forms the foundation of your coworking marketing plan. In fact, an attractive, SEO-optimized website can be the difference between having a successful space and one that struggles. According to a study conducted by Google and Costar, 88% of potential tenants start their search for commercial real estate search online.  Another 40% signed a lease for a property they first found themselves online. We’ve analyzed the most effective websites and market best practices from our more than 90+ operators to identify the high ..read more

Google Ads can provide between one third and two thirds of the traffic for many coworking spaces, especially when opening new locations. They key to putting Google’s paid advertising platforms to work for your coworking marketing strategy? A solid understanding of the way people search for coworking space for their business. To help you, we’re providing the top 25 highest performing Google keywords to get you started. Learn about Upsuite’s Coworking Marketing Solutions How Can You Put Google Ads to Work for Your Coworking Space Marketing Plan? You may know Google Ads by its former name, Googl ..read more

Coworking marketing is more and more critical when market demand is high.  In 2022, every geographic market in North America is in recovery.  Once you have developed a marketing plan and defined your target market for your coworking space, it is time to decide how you will generate awareness and leads from your coworking marketing strategy.  As the third part of our series on “How to Market Your Coworking Space or Flexible Office,” we want to help you get the word out about what your location has to offer so that you can bring in inquiries from motivated solopreneurs, teams, and ..read more

In 2022 as demand for coworking spaces has returned, one of the most important things you do as a flexible office space manager is to get out the good word about the benefits of your coworking space to local businesses and entrepreneurs. After all, a steady flow of reliable members translates into the cash flow you need to run and grow your business. A coworking marketing plan is an essential element of ensuring strong, consistent messaging and effective outreach to your ideal members. You may think that it’s easier to implement marketing on an ad hoc basis, whenever you have an open space or ..read more

The Covid pandemic took a major toll on the flex office industry causing hundreds of permanent coworking closures.  We recently reported that demand for flexible office in the United States has not only recovered, it is also now higher than it was pre-Covid.  We’ve now tracked over 800closures of coworking spaces in North America since the start of the Pandemic, and with rising demand, these vacant properties provide operators with a unique opportunity to expand their business.   What is Happening to Former Coworking Closures? In total, roughly 22% of all centers we track ..read more

There continue to be positive signals in the coworking market in the wake of the Covid pandemic, which had caused understandable anxiety among many stakeholders in the flex industry. In Q1 2022, we can now say that those anxieties are no longer warranted.  Demand for flexible offices in the United States is now higher than it was in Q1 2020, before the Covid pandemic shut down workplaces across North America.  In Canada, coworking trends in demand per location are only half of what it was pre-Covid, but between Q4 2021 and Q1 2022, demand grew a whopping 121%.   You can re ..read more

Q4 2021:  Demand is Up, Way Up.  Will Profits Follow?  In Q4, overall demand sharply increased in the United States, but some markets struggled to recover. Demand in Canada fell, along with historically strong markets with educated workforces, such as Boston and San Francisco. After reviewing our Q4 data, we found that there are six notable trends worthy of attention.  1. Revenue was up modestly Revenue was up modestly, but there were many reports of delays at the end of Q4 due to the Omicron variant, which limited revenue potential. While we don’t have revenue figures for ..read more