There are a few major problems with coworking spaces…

In this article, we’re going to break down what the problems with coworking spaces are- and how we avoid them.

Forbes points out,  “To succeed, coworking models need to be practical, distinctive and sustainable”. We couldn’t agree with this more.

Let’s take these three points and break them down, one by one.

1.The Practical Problem.

One of the industry’s biggest players has found themselves in a bit of a tight spot due to a major lack of practicality. Bloomberg describes their situation as “an era of excess”. This has been a widely publicized issue, and for good reason.

Everyone knows amenities are great, and everyone loves a little hype from time to time. The problem arises when the amenities are unreasonable (possibly unnecessary) and the hype exceeds the real-world application of a coworking space. You won’t see us shooting for the moon with an over-inflated valuation in the 100’s of billions. The is no cult of personality at CoCoTiv; there is a sense of community as well as individuality. We don’t fancy ourselves a tech company, a “physical social network”, or anything other than what we are…

CoCoTiv is a fun place to work, there’s no doubt about it. But, we never lose sight of the reason we’re all here- to get to work. We are still an office space at the end of the day. It’s just sometimes that day ends with a Happy Hour!

2.The Distinctive Problem.

Most coworking and shared office spaces have similar offerings. This isn’t necessarily a problem- it’s great for the tenants- but it can become one. What sets a coworking space in Charlotte apart? At CoCoTiv we believe it comes down to a few crucial components.

We offer free parking, an absolute rarity in this market. All our parking is onsite, safe and secure. Forget a waitlist to pay $150 a month to park your car in a cramped garage. Parking at CoCoTiv is always absolutely free!

Every coworking space offers perks. But, we are proud to say all of our amenities are locally sourced. Because as an independent local business ourselves, we believe in supporting our community here.

Finally, we offer our CoTivation program to all our members. It’s a mastermind group that takes place in a coworking setting. CoTivation serves as an accountability group and support system for our members to work together and help each other grow.

Our localized and unique set of member enhancements makes us a distinct coworking and office space in Charlotte.

3. The Sustainable Problem.

This is perhaps one of the biggest problems with coworking- perceived or grounded in reality. There seems to be an air of uncertainty around coworking. This isn’t unusual for a new offering, and especially not unusual for an idea as disruptive as coworking is to the traditional office space model. Coworking is and will continue to be the new normal for the modern workforce. Up until 2022, the number of coworking spaces is expected to grow at an annual rate of 6% in the U.S. and 13% elsewhere. The numbers don’t lie- coworking is here to stay. But, that doesn’t mean every operator can succeed, if they are reckless with their growth models.

CoCoTiv is growing (stay tuned for some very exciting news coming early 2020!). But, we aren’t growing faster than the demands of our membership. We aren’t scaling beyond our means and over-leveraging our future on wild schemes like private jets and co-living arrangements. “Failing up” might sound appealing to some, but it’s not our thing.

We don’t have more space than we have use for- there aren’t floors of empty desks at our coworking space. Our scene is bustling and vibrant- book a tour with us today and see it for yourself.

At CoCoTiv, we understand the major problems with coworking. Knowing how to identify these problems is what lets us avoid them.