As work shifts away from the traditional office-based 9-5, coworking has become a major growth industry. Globally, there are some 2 million coworking members, a number that is rising substantially year-over-year. While the big names in coworking, such as WeWork, have traditionally been a draw for freelancers, startups, and small businesses, there’s been an increasing shift towards local, boutique coworking.
There are several reasons for this trend.
Local freelancers and startups prefer to keep it local, which means steering their loyalties towards boutique coworking spaces that have grown organically out of the needs of their local community. By renting a desk or office in a local coworking business, companies can give back to the community that has allowed them to grow and thrive. “Shopping local” keeps more money in the community: $68 compared with the $43 reinvested when you shop with a national chain. It’s a way of helping your local economy grow and thrive, which is vital when you consider how much of your work comes from local sources. The #shoplocal movement has helped bolster businesses across multiple sectors – coworking among them.
Relevant and Tailored
Local coworking spaces have the benefit of a deep understanding of their local community. They’re developed with the needs of local freelancers, startups, and small biz in mind. They understand what matters in terms of location, connectivity, amenities, and availability, and they have strong connections with key local organizations, influencers, and businesses, all of whom are more likely to lend their support to a local effort. As a result, they’re a draw for top local talent, making them more susceptible to boast a community of well-connected, high-performing individuals that, in turn, draws further interest. Bigger businesses, in particular, have begun to look towards local coworking as an opportunity to leverage local connections and talent, further boosting the appeal of local coworking.
Affordable and Stable
Where the big names in coworking have expensive overheads to cover and charge accordingly, local coworking spaces are priced to reflect the cost of doing business in their home market. Freelancers, consultants, small companies, and startups that opt for local coworking benefit from these lower costs, along with greater flexibility, availability, and personalized care. With a business model designed to work specifically at the local scale, rather than a global one, local coworking gives community members what they need to thrive without the wallet gouge. The highly specific, localized nature of local coworking means that community members can enjoy their space without changes being rolled out from afar, and without fear of what might happen if a parent company flounders.
District Offices – a Leader in Local Coworking
With multiple locations in highly sought-after areas of DC, District Offices delivers local coworking tailored to the unique requirements of the DC market. Flexible, accessible, and exceptionally engaged with our local community, providers, and key organizations, we’re an excellent choice for consultants or businesses seeking a place to work, grow, and excel. Our market is and always has been DC, and we’re committed to continuing to serving the community that has always supported us.