Business Idea: Start A Co Working Space Rental Business in 2024
The co-working spaces are becoming essential in the post-pandemic world. Experts estimate five million people will occupy coworking spaces in the next few years. The projections are based not only on the growth the coworking industry has experienced over the past few years but also on the sharp increase in the number of startups coming up each year.
Therefore, creating your coworking space business will become a lucrative opportunity. To create a coworking space, do proper market research to ensure you have the demand for a co-work space in your target area.
Then, focus on finding an ideal location to attract the maximum number of customers.
Revenue & Profitability
How much do co-working space rental businesses make?
- On average, successful co-working space rental businesses report $996K/year in revenue.
- 0% of co-working space rental businesses report being profitable.
Startup Costs
How much does it cost to start a co-working space rental business?
- It can cost as low as $250 to start a co-working space rental business.
- It can cost as high as $200,000 to start a co-working space rental business.
Learn more about the costs of a co-working space rental business.
Examples Of Successful Co Working Space Rental Businesses
Successful co-working space rental business businesses and case studies
The founder of The Farm Soho, one of the earliest New York City co-working spaces, shares how he built his affordable workspace model for solopreneurs and startups, as well as discussing his tips for attracting and retaining customers while navigating the challenges of running a business.
Founder Alan Crowe launched Room2work, a niche coworking space for small businesses in 2020, generating $14K a month with plans to reach $100K in gross profit, by combining the coworking model with the self-storage model to offer a flexible office space optimized for local SEO, virtual offices, and meeting rooms designed for virtual teams.
See full list of successful co-working space rental businesses.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
