The flexible office space business has grown by spring and is bound with annual growth of an average of 23 percent since 2010.
However, a few operators have distinguished themselves in certain ways from the rest of the industry, as with most industries.
Apart from offering advice on choosing the right coworking space, we will be covering some of the top brands in the business.
WeWork had once gained a new reputation as one of the fastest-growing and most valued startups globally.
WeWork invented the concept of amenities, and much of what they offer has become standard across the coworking industry.
This includes high-speed internet, cleaning, supplies, coffee, designated conference space, private phone booths, and a rotating selection of craft beers on tap.
WeWork unquestionably has an advantage over the competition when it comes to the network.
WeWork has its app that links members and enables them to network, interact with WeWork personnel, and book conference rooms, among other things.
Additionally, WeWork has sites worldwide, allowing you to utilize their facilities regardless of your location.
After inspection at its newly withdrawn IPO, the company saw its valuation plummet show that it lost an astonishing $1.9B in 2018.
It also revealed that Adam Neumann, his co-founder, and previous CEO, had practiced questionable methods as the firm was headed.
What is WeWork?
Miguel Mckelvey and Adam Neumann started WeWork in New York in 2010. The company provides office, coworking, and meeting facilities for start-ups, entrepreneurs, and large companies.
The advantage of adopting WeWork or other WeWork alternatives is the flexibility and inclusiveness of the membership concept.
WeWork has become exponentially one of the world’s biggest co-working providers, with over 580 sites in 100 cities and over 2000 workers thanks to its convenience and price.
WeWork is a commercial immobilizer firm known to provide other companies with shared technological startup workspaces. WeWork was established in 2010 and had its headquarters in New York City.
Although the company has had a big impact on the workplace market and raised several communities, it has various competitors.
WeWork is the best-known flexible office space company and holds Regus’ second largest site.
With around 9 million square feet and over 40 locations in New York alone, the firm is the largest private office renter in New York.
Its areas have a startup environment and are usually dynamic, energy-efficient, and younger than any other company.
WeWork is very good for businesses; many large companies pick WeWork over other coworking space providers.
Top WeWork Competitors & Alternatives
|1.||Regus||1989||Saint Helier, Jersey||Visit Website|
|2.||Impact Hub||2005||Vienna, Austria||Visit Website|
|3.||Industrious||2013||New York, US||Visit Website|
|4.||Talent Garden(TAG)||2011||Milan, Italy||Visit Website|
|6.||Servcorp||1978||Sydney, Australia||Visit Website|
|7.||Spaces||2005||New York, US||Visit Website|
|8.||Serendipity Labs||2011||New York, US||Visit Website|
|9.||Venture X||2012||California, US||Visit Website|
|10.||Pacific Workplace||2004||Washington, San Francisco, California||Visit Website|
|11.||Intelligent Office||1995||Denver, Colorado.||Visit Website|
|12.||Alley||2011||New York City, U.S.||Visit Website|
Regus, formerly known as IWG plc, has assisted more than 2.5 million people and businesses since 1989. The company is at the forefront of the workspace revolution.
Regus is WeWork’s largest and most established competitor. It was created in 1989 in Brussels, Belgium.
It was around 20 years before WeWork! The company is publicly traded on the London Stock Exchange and has relaunched as IWG plc, with 3,000 cities and 2.5 million users worldwide.
They add value to enterprises of all sizes on a personal, strategic, and financial level.
Regus, like WeWork, offers customizable programs for businesses of all sizes. Membership fees vary according to location, private space, and other perks. Unlike WeWork, Regus is noted for its executive vibe rather than millennial/industrial chic.
Regus refers to itself as a legacy or heritage brand and with justification. It was the first provider of flexible space on a huge, worldwide scale. The company is primarily recognized for its one- or two-person private offices.
Users can hire an office or coworking space daily or subscribe to a monthly membership. AT&T, Google, and Toshiba are just a few of the company’s noteworthy clients.
Regus is the world’s largest provider of flexible space, with over 3,000 sites worldwide.
2. Impact Hub
Impact Hub, a company founded in 2005, is a leader in developing entrepreneurial facilities and communities, startup programs, and networking events worldwide.
Impact Hub operates on a highly unique model. They are a coworking organization that collaborates with prospective owners interested in establishing their impact hub. Around 2005, the company was started in London.
Their global network spans more than 100 locations and, in comparison to WeWork and Regus, has a considerably more community-oriented atmosphere. Their model is not a franchise, as each location is managed by a trio of founders with complementary skill sets.
It connects these early-stage founders with different Impact Hubs and walks them through the process of setting up a new Impact Hub. Once a Hub is established, it CANNOT be replaced by another location in the same city.
They have a broad range of activities exemplified by their presence on five continents, their events spanning more than 11,000, and the hundreds of programs they offer every year.
Additionally, they have a thriving community of over 16,000 individuals from varied backgrounds, 67% of whom have launched their businesses. Between 2012 and 2016, they created almost 6,400 new enterprises.
Jamie Hodari and Justin Stewart started Industrious. Industrious uses landlord relationships to expand using a debt-free model. Industrious announced an 80 million Series D fundraising round to extend their brand beyond 80 outlets and 40 cities.
The organization takes pride in its “grown-up” coworking approach. Their floorplan reflects this, with luxury offices, central cafes, and an abundance of amenities.
From 2013 to the present, Industrial offers shared workspace solutions and development services for teams of any size and stage.
Expanding to 25 cities in the United States in 2017, it has grown income by 150 percent annually over the last three years, eclipsing other prominent coworking enterprises.
Industrious maintains offices in New York, Boston, Los Angeles, and other major cities.
As with WeWork, Industrious provides custom office fit-outs for businesses of 20-10 employees. Lyft, Pandora, and Pier, among others, rely on Industrious for their workplace needs.
The use of large and small businesses can help Innovative monetize more effectively.
They raised a total of up to $142 million through 2018.
They have expanded to 85 outlets in more than 45 cities across the United States in 2019. The Industrious’ success speaks for itself.
4. Talent Garden(TAG)
TAG, an abbreviation for Talent Garden, is a well-designed coworking space dedicated to fostering creativity.
It was founded in 2011 and served as an appropriate lounge in Europe for those seeking a closed office or private desk.
They have campuses in eight countries and employ thousands of creative professionals, including freelancers, startups, businesses, and corporations.
Studio is a coworking brand by Tishman Speyer, one of the largest commercial landlords in the world.
While Studio does not currently have the same number of locations as others, given its ownership, expansion is inevitable.
Meanwhile, Studio has already established itself as one of the leading global coworking brands with sites in high-profile locations like Beverly Hills, New York City, Chicago, and Washington, DC.
They are a very professional corporation specializing in flexible office space for businesses and offering various options, including private office suites and open seats.
Additionally, Studio provides both flexible, shorter-term leases and standard leases.
Servcorp Ltd. is a global provider of comprehensive workplace solutions, including physical and virtual offices, conference halls, and coworking spaces. It has been providing the finest office space services since 1978.
Servcorp is a multinational, Australia-based firm that markets itself as “co-working for grownups” and leases office space in some of the world’s most iconic buildings.
The company operates successfully in 23 countries across 54 cities and over 160 locations worldwide.
The organization is spreading the entrepreneurial mindset and passion throughout the community by delivering affordable packages.
Servcorp is committed to making its businesses look regal by encouraging proper attire and locating them in prestigious towers such as New York’s One World Trade Center and London’s Leadenhall Building.
As with the other companies on this list, it sells virtual operational services to customers — professional and technological services account for 40% of revenue.
Additionally, Servcorp seeks to gain a competitive edge by promoting its internet networking capabilities and customer service strategy.
Spaces is a subsidiary of the same corporation that owns Regus – IWG. The company bought Spaces in 2014 to compete directly with WeWork and has since expanded to 180 sites in 50 countries.
Spaces specialize in the bigger, open shared spaces associated with the coworking industry as an alternative to the more traditional corporate environments seen in Regus locations.
Spaces is geared toward entrepreneurs, freelancers, and small companies seeking an innovative and efficient work environment. It is also a great fit for enterprises seeking similar characteristics in a workspace.
8. Serendipity Labs
Serendipity Labs operates in over 35 markets (primarily secondary-suburban markets). Serendipity Labs, unlike the previously mentioned company-owned brands, is a franchise.
A franchise license is offered to prospective landlords in exchange for a percentage of revenue from the branded sites.
Serendipity Labs offers the option of working in a secure, professional setting through coworking, private offices, customizable team rooms, and suites, as well as meeting and event space.
9. Venture X
Venture X takes pride in operating professional coworking spaces without cutting shortcuts.
The company collaborates with renowned architectural firms, furniture suppliers like Herman Miller and sells office packages, which helps explain why its settings (and fees) are more expensive.
United Franchise Group, a family-owned business, owns several franchises, including Venture X.
It has successfully operated Sign A Rama, Embroidme, and J.S. in addition to its coworking franchise, Venture X.
Venture X’s principal business plan is to offer franchise licenses to prospective landlords, business owners, and developers to grow its brand without incurring lease or commercial acquisition costs.
10. Pacific Workplace
A Pacific Workplace member offers private office rooms, meeting rooms, virtual office spaces, and coworking memberships. It was founded in 2004 by PBC Management LLC.
It operates 18 locations throughout the San Francisco Bay Area. There are packages for every budget.
It operates under the Pac brand in 20 locations, deploys under the local name, and has created a network of over 650 locations worldwide under the CloudVO brand.
11. Intelligent Office
Intelligent Office is a major, franchise-owned flexible space provider similar to Regus and Premier Workspaces in that it caters to one- and two-person private offices.
Additionally, it offers amenities such as full-time reception and other ancillary services that are particularly attractive to small businesses and entrepreneurs.
Intelligent Office provides ancillary services, including accounting, order processing, and business growth and scheduling, providing an attractive choice for small businesses that need flexible working conditions and operations support.
Alley is a coworking space in the United States based in New York City and began operations eight years ago. It operates various offices under the Alley powered by the Verizon brand.
The company has now opened two stores under the Verizon brand, one in Boston and one in Washington, D.C. Alley presently has over 800 members and is the destination to over 110 new businesses.
Carrworkplaces, which has provided office solutions for various budgets since 2003, aims to replicate the concierge services found in a luxury hotel in a shared working environment.
They have 26 locations throughout the United States, including Washington, D.C., Los Angeles, Chicago, Boston, New York, and San Francisco. According to its website, it is a national coworking space for creative workers.
Knotel was founded in 2016 and has quickly established a strong name in the coworking business. Knotel is an office space platform that provides clients with free unique space, capital efficiency, and a simplified path to maximizing their potential.
During this time, the corporation expanded to 4 million square feet in 200 sites across three continents. Knotel is redefining commercial real estate and propelling businesses forward.
Knotel just received $400 million, reducing the gap between its valuation and that of WeWork. According to Amol Sarva, the company’s CEO, “creating the workplace of the future.”
Its business approach was based on leasing buildings and furnishing them with easily removable modular furnishings.
Knotel eliminates the risk of not attracting tenants from the outset by selling the space before offering custom fit-outs. Knotel has locations in most major cities, including New York, Boston, Berlin, Tokyo, and Los Angeles.
Convene coworking spaces emphasize hospitality, just as Industrious does.
Convene, which began as an event space provider, has expanded to include various unique facilities, including nearly professional-level kitchens in each of their locations and executive chefs that work with local farmers and food providers.
Every location is designed to have a luxurious feel and look. Furthermore, Convene’s Enterprise-level tenants get a choice of cutting-edge technology, as well as 24/7 technical support.