10/25/2018

These Coworking Spaces Failed. Yours Shouldn’t.

Although the trend of coworking spaces seems to be growing without limit, many spaces still have failed. Some of the coworking space fail incidents are due to a lack of planning or advertising, while others tried to open in a location that was already overcrowded or where there was no demand. Many big names have dozens if not hundreds of locations around the world, and there are just as many individually owned coworking spaces. However, not all who have jumped on the coworking bandwagon have succeeded. Take a look at some of the failures to see what you can learn from them.

Look at coworking space fail examples to learn what not to do and avoid following in their footsteps.

Shopify

Consider that Shopify enjoys great success as an E-commerce platform, you may be surprized to hear it has a coworking space failure in the past. Shopify rented a space in New York City and found residents to spend three months there. While residents learned a lot, Shopify failed because, by its own admission, it did not have all the right elements of a coworking space.

CoworkBuffalo

CoworkBuffalo will be officially closed as of Nov. 2, 2018. This was a unique project, as the co-founders worked on it part-time and during off-hours. This company’s closure times with the end of its lease, as it simply doesn’t make sense for it to stay in business.

Beach Desks

Several years ago, Beach Desks closed, even with plenty of interest in the coworking space. The problem for this coworking space was a combination of factors, including that one of the co-founders traveled too much as part of his other job and another co-founder was also working hard at another job. As these were the core members, no one was able to dedicate enough time to the space.

Summit

Summit was a very popular coworking community within San Francisco, but it could not keep up with the financial demands. That space closed due to lack of funding even with its large number of members.

CAMP

CAMP was the first coworking space in Omaha and served as home to 13 different businesses during its time. It closed relatively soon after opening, however, even with hosting a range of events. The reasoning behind the closure was that the entrepreneur behind the space could not afford it.

What to Learn from these Coworking Space Failures

Taking a look at some of those coworking space fail examples, you can learn what to avoid when running your space. One of the common themes is that the management team of a failed space is not fully dedicated to the project. Instead, they view it as a side job to supplement their other activities. To improve your chances of success, make the coworking space your primary focus, or have at least one member of the management team that is fully dedicated to the project without another job as a distraction.

Ensure that at least one member of your management team has no major outside distractions, like other jobs. Focus is key for any business to succeed.

The actual environment of your coworking space is also crucial. It must be in a location that is accessible and in a city with demand. The building itself must be in good condition and have parking. Similarly, the layout of the space requires thought and planning, including what amenities to provide members.

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3. Benefits of Tagging Others

Social data also describes the interaction between social media users. While comments, likes, and shares are the most obvious forms of interaction on social media, tags are another form of communication between social media users. 

Tagging is one of the most effective tips for coworking on social media. When it comes to promoting your coworking space, tags do an amazing job at increasing your visibility. On Facebook, for instance, your post will have more reaches if you tag others:

Image credit: CENTRL Office

If you often organize events at your coworking space, you can tag the participants. If you have some special offers, tag someone who helps you promote them. Any tag conveys social data, as it transfers information from one user to another. It’s a great way to become more visible online and attract potential clients. 

In Conclusion

Like any other big data, social data has limitations, as not every social media user shares information. Nevertheless, social data is still very effective for marketing purposes, as it can help your coworking space become more recognizable. 

Using the above-mentioned social data techniques together will help you increase visibility, as they will help others find your coworking space more easily. In general, these techniques are aimed at targeting large numbers of people and help them easily navigate the space of social media to find the best coworking spaces. 

Platform

Location

Croissant

International

Included.co

International

Hubble

London

Coworker

International

Instant Offices

International

Pickspace

International

Share Desk

International

Happy Desk

International

DesksNear.me

International

DeskTime

International

Coworking London

London

Desk Pass

International

Copass

International

Coworking Wiki

International

Desk Surfing

International

Near Desk

US

Liquid Space

International

GoCoWo

International

Find Workspaces

US

Sneed

India

Ofixu

International

Meetings Booker

International

Qdesq

India

eWorky

International

Share your office

US

Spacelist

US and Canada

42 Floors

US

Office List

US and Canada

Coffices

International

Breather

US, Canada, Europe

Setting

Berlin

Key to Office

International

Peerspace

US and Europe

Bizly

US

Spacewhiz

India

Beewake

US and Europe

Awfis

India

Allofficecenters

Germany

Splacer

US

Lexc

International

Desk Camping

International

Worksnug

International

Seats 2 Meet

US

Coworking.Coffee

International

Commercial Cafe

US

Preferred Office Network

US

Heydesk

International

Office Freedom

International

Flexas

International

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