Co Working Space

Co Working Space Success Stories [2024]

Pat Walls

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Updated: September 26th, 2024

Ever thought about transforming empty spaces into collaborative hubs? A co-working space might be the business idea you're looking for.

In simple terms, a co-working space is a shared office environment where individuals and small teams can rent desks or private offices. These spaces often provide amenities such as high-speed internet, meeting rooms, and community events.

This concept thrives on the growing trend of remote work and the need for flexible office solutions. Managing a co-working space involves more than just leasing a building; it requires creating a strong community atmosphere, maintaining facilities, and offering top-notch services to attract and retain members.

If you’re passionate about creating a dynamic work environment and have a knack for organization, this business could provide a rewarding and sustainable income. The rise in demand for flexible working conditions means there's a significant opportunity to tap into this evolving market.

In this list, you'll find real-world co-working space success stories and very profitable examples of starting a co-working space that makes money.

1. Momentum Coffee and Coworking ($156K/year)

Tracy G. Powell and Nikki Bravo founded Momentum Coffee and Coworking in May 2020 with the goal of creating an affordable co-working space for underrepresented entrepreneurs in Chicago. Despite facing challenges during the pandemic, their strong relationships with customers, intentional partnerships, and active social media presence have helped them attract and retain customers, with their revenue reaching $17-20k per month.

How much money it makes: $156K/year
How much did it cost to start: $200K
How many people on the team: 4

How We Started A $13K/Month Coffee Shop And Coworking Space

Chicago based Ignite Technology and Innovation-owned Momentum Coffee & Coworking, which focuses on coffee, coworking, community, and event space, rakes in about $17-20k a month in revenue, mostly from online and offline advertising, and just celebrated their first anniversary, with plans to open 2 more locations in Chicago in under-resourced communities.

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