3 Shared Office Center Business Success Stories [2024]
Need a space to work but don't want the overhead of a dedicated office? Consider starting a shared office center business. Shared office centers provide flexible workspaces for freelancers, small businesses, and remote workers.
You’ll be in charge of creating a conducive environment with essential amenities such as high-speed internet, meeting rooms, and common areas. Beyond just space, you'll foster a community through events, networking opportunities, and collaborative projects.
The demand for adaptable workspaces is steadily growing, driven by the rise of gig economy workers and remote work trends. This business model allows you to generate recurring revenue through membership plans and additional services.
Setting up a shared office center involves finding the right location, investing in quality furnishings, and managing day-to-day operations. It requires an initial investment but offers the potential for a steady income and community impact.
In this list, you'll find real-world shared office center business success stories and very profitable examples of starting a shared office center business that makes money.
1. The Office Pass (TOP) ($2.7M/year)
Aditya Verma, the Founder & CEO of The Office Pass, came up with the idea for his coworking business after realizing the significant amount of time, effort, and money wasted by people commuting to work in India. He re-hashed the conventional coworking model to create Neighborhood Coworking, offering high-quality office spaces close to people's residences or businesses. The Office Pass is now the only company in India offering this unique concept, with plans to expand to 55-60 offices and cater to over 1,000 companies.
How much money it makes: $2.7M/year
How much did it cost to start: $100K
How many people on the team: 15
The Office Pass, a neighbourhood coworking and managed office company in India, is growing at a rate of over 180% YoY, aims to reach USD 7.3 million over the next 24 months, and offers workspace options suitable for the Indian scenario.
2. Room2work ($180K/year)
Alan Crowe, founder of coworking space Room2work, came up with the idea after realizing that small contractors needed more than just storage space. Combining the coworking model with the self-storage model, Crowe created a shared office space that catered to local businesses in need of professional amenities, office space, and storage. Despite launching right before the pandemic, Room2work has managed to attract and retain customers, with a focus on optimizing services and providing value to members.
How much money it makes: $180K/year
How much did it cost to start: $200K
How many people on the team: 1
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.
3. The Office Providers ($168K/year)
Mike Gardener, a chartered commercial property surveyor, came up with the idea for The Office Providers after observing the growing market for flexible office space. He saw a demand for shorter-term contracts and managed workspace solutions and decided to create an online platform that connected businesses with the perfect flexible workspace. After nine months of launching the website and securing his first deals, Gardener's idea was validated, and he continued to expand the business by focusing on search engine optimization, creating useful content, and building trust through directories and a podcast.
How much money it makes: $168K/year
How much did it cost to start: $2K
How many people on the team: 3
This case study is about Mike Gardener, the founder of The Office Providers, an online office space and workspace search platform that generates approximately $14k per month in revenue and helps businesses find flexible workspaces on short-term contracts.
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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.
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