The State of Coworking

The State of Coworking

With GA closing its coworking department, and the abrupt news of 3rd Ward shutting its doors,  a ton of people  are asking me questions like, “Is this a sign of the market?” or “How is AlleyNYC doing?” I felt it would be a good idea to give you my thoughts on the current state of coworking, from a coworking owner and operator point of view.

First of all, coworking is a huge undertaking. It’s like managing real estate to the 12th degree. With hundreds of personalities, managing expectations, and putting on events, it’s fucking NUTS.  For GA to decide that their efforts are best spent managing the education aspect of their business, I feel that is totally viable and responsible choice.  Those classes are creating jobs and providing an affordable, actionable education to people that will change the world. Rock on, GA, rock on. I’m not going to lie: 3rd Ward was a total shock.  But it’s like walking past a packed restaurant one week, then the next week they are out of business:

You do not have an inside look at any business unless you are on the inside.

With all that said, coworking is not a huge money maker.  If you are not careful with your community, and managing your bills, you don’t have a snowball's chance in hell of being successful.  If you are acutely attentive to your community, and provide as much value as possible for the builders of startup businesses that take space, then you will find out really quickly if your business is going to be a business for long. One word: For everyone and everything, we aspire to offer VALUE. Value all around -- for the community, for the individuals, for the space, for the sponsors and strategic partners. VALUE, VALUE, VALUE.

If you are creating value, and you have an awesome space with a great community, there is no telling how far you can go with it. Major Fortune 100 companies are just now looking into coworking as an option for their innovation teams. Consumer Reports works out of our space, and they are awesome.  

We are experiencing what I like to call an “entrepreneurial renaissance.”  Every startup needs an affordable space to work, where they can grow their business in a collaborative, supportive environment. We (AlleyNYC) are growing everyday. We are making sure we stay true to our roots and continue to work towards adding value. To those who are looking for an awesome community, especially those from GA and 3rd Ward, come hang with us. Check us out!  Our community is badass, and we would love to have even more awesome people.

As far as I can see, the state of coworking is FUCKING AWESOME

Carry on,

Jason