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Stern Signature project . Co-Working market in u.s.a. Stern signature project - the co-working market in u.s. YISHAN “EVA” LIN. Sudharsun " Sud " Jagannathan. Agenda Co-working Definition & History Market Attractiveness Type of Co-working Spaces & Business Models

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stern signature project

Stern Signature project

Co-Working market in u.s.a

stern signature project the co working market in u s
Stern signature project - the co-working market in u.s.

YISHAN “EVA” LIN

Sudharsun "Sud" Jagannathan

Agenda

  • Co-working Definition & History
  • Market Attractiveness
  • Type of Co-working Spaces & Business Models
  • Market Challenges & Opportunities
  • Next Step
  • Panel Speakers Introduction
  • NYU Stern MBA Class of 2015
  • Major in Strategy and Finance
  • Project Manager at Alacriti
  • sj1449@stern.nyu.edu
  • NYU Stern MBA Class of 2016
  • Major in Strategy and Business Analytics
  • Business Analytics Manager at EMS
  • yl856@stern.nyu.edu
what is coworking
What is coworking?

Coworkingis a style of work that involves a shared working environment, often an office, and independent activity. Unlike in a typical office environment, those co-working are usually not employed by the same organization. - Wikipedia

Office

Space

Office

Supply

“Coworking Space” could share:

Projects

Service

Talent

Know

ledge

Comm

unity

how did co working start
How did co-working start?
  • Emergence of freelance IT professionals in late 90’s
  • The very first co-working space was based out of San Francisco.
  • The term “co-work” was coined by Brad Neuberg, a noted software engineer.
  • The rise of a technology enabled workforce, real estate crash of 2008 and dismal job opportunities for young people fostered the growth of co-working
market attractiveness
Market attractiveness

% of Total Workforce

7% 16% 29% 40%

  • Industry growth drivers:
  • Mobile technologies
  • Internet access
  • Low costs of starting business
  • High reward for startups
  • Changed social image on self-employment
the market need for co working
The Market Need for Co-working

Problems

Market Need

Innovation & Growth

Isolation

Social Connection

Collaboration

  • Share expertise
  • New ideas or idea breakthrough
  • Refer biz to each other
  • Combine talents for larger projects
  • Found company together

Chemistry

Distractions

Professional

Workspace

Sharing

High Capital Infrastructure

Business

Infrastructure

type of co working space
Type of Co-working space

Type 5: Provide Full-Service

Acceleration

& Funding

BizOp &

Equipment

Service

Type 5: Accommodate Larger Team

Type 4: Provide Additional Biz Services

Type 3: Enhance Knowledge Sharing

Education /

Knowledge

Program

Facilities’ Involvement in

Customers’ Business Growth

Services and Costs by Space Providers

Type 2: Build Community Sense

Networking

Events i.e.

Happy Hour

Traditional Office Lease

Type1: Office Rental for Small Teams

Office Space

& Amenity

Type of

Customers

12+ ppl team

4-12 ppl team

Individuals

1-3 ppl team

Startup Life Stage

common business models challenges
Common Business Models & challenges

Typical

co-workingservice provider

Rising real estate cost

Fixed amount of real estate

Limited ability to raise membership dues (small firms, short tenure, increasing competition)

Limited profitability per square foot

Specialized

co-working

service provider

?

?

?

the industry future increasing players
The industry future : Increasing players

New Work City

Entrepreneur

Real

Estate

Coworking

Market

B-Corp

Lab Central

The Yard

Startup

Service

Provider

Fueled Collective

Rocket Space

Incubator

the industry future growth strategies
The industry future : growth strategies

Invest in retention program

Turn on customer acquisition budgets

A. Marketing Programs

Increase value-added services

Expand into private offices

Build virtual member network

Growth

Strategy

B. Extension of Brand

Geographic expansion

Merger & Acquisition

C. Physical Expansion

next phase of research
Next phase of research
  • What is the total number of co-working spaces in U.S.?
  • Is co-working a result of the new just-in-time model of large corporation, a lifestyle, or a function of bad economy?
  • Does co-working environment have substantial impact on startup’s team formation, productivity, or future success?
panel speakers
Panel speakers

Tony Bacigalupo

Marissa Feinberg

James Wahba

Jason Saltzman

Evan Malone

Molly WenigRubenstein

Jason Juliano