Why Co-Working Companies Are Popping Up Everywhere

By Rusty Sep18,2017

We all know the millennial generation is completely different from any other generation. Everything about them is quite different than previous generations. They are having children later. They tend to marry later. The desires for entertainment, food and shopping are different. They have loads of student debt. They are not too keen on using credit cards. They work completely different. Their careers and paths they have chosen in life are different as well. This generation has a completely different viewpoint on work. Venture capitalists and business owners have seen a great lucrative enterprising idea in creating workplaces that speak to millennials.

These workplaces are often called co-working spaces. Millennials enjoy working with others. They enjoy being self-employed and business owners and freelancers. They like non-traditional work environments. Co-working spaces allow for people to work together no matter their professional background or career choice. Venture capitalists and companies have created these co-working companies that charge a monthly fee to the people who rent out workspace. The industry is new. The industry is budding. Yet, the industry has proven its concept because hundreds of millions of dollars have been thrust into this new type of work environment.

Co-working companies are sometimes in a two story steel building. The infrastructure of these co-working companies resembles top typical office buildings. It is the interior of these buildings that are rather different that meets the needs of millennial workers. There are tables and desks set out for people to work alongside each other. There are quiet places where people can work on comfortable chairs and couches. There are amenities like a cafe, coffee bar, salad bar and sometimes exercise facilities. For people who want private space for organizations that want their own space, there is an option to rent out private offices. Typically, workers pay a few hundred dollars a month for a spot to work. Sometimes, depending on how many workers are in a private office the fee may exceed over one thousand dollars.

These co-working spaces have taken a twist on the traditional office building. These companies that offer co-working spaces can be found in New York City, Atlanta, Chicago, Los Angeles, Dallas and other major metropolitan areas. Millennial enjoy coming to an office where they can work with a variety of people and work in an environment.

Co-working companies can cash in on this desire because they are truly meeting the professional needs of millennials. Millennials want to work in that allows them to get work done as well as have their personal needs met by having amenities. Landlords and property owners like how co-working companies are buying and renting old abandoned buildings and turning them into attractive workplaces. Many people are benefiting financially from the demand of co-working environments. Older buildings are getting bought and renovated into cool, modern age office spaces. These buildings are becoming bustling hubs of tomorrow’s future tech companies, revolutionary startups and simply work environments filled with younger people beginning their professions in life.

By Rusty

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