April 24, 2018 1 min to read
The Appeal of Modern Coworking Spaces to Millennials
Category : Feature
Coworking spaces were almost unheard of back in 2007, with only around 14 documented units in the United States. But recently, there has been a jump in the number of these shared office facilities where millennials flock about.
One of the biggest drivers of this trend is the rise of freelancers in the professional field. They are building and joining startups, becoming their own boss, and working at their own time. But what makes these creative offices so attractive to millennials? Is it safe to venture into a coworking franchise? Here are several things you should know.
The “shared space” concept
A coworking office is where individuals from different firms work in a professional yet relaxed setting. Often, members pay a monthly membership fee to gain regular access to the building, with premium charges on special equipment or meeting rooms.
Why millennials love it
Millennials are known as trendsetters of the era, and they have made great changes in the corporate world. Coworking spaces are yet another trend, but they are thriving due to these reasons:
- Resistance to traditional offices – More millennials are on the move to fight traditional office structures. They are breaking down the 9-to-5 mentality, dismantling corporate hierarchies, and focusing more on individual expression. Coworking spaces allow them more freedom without the pressures of outdated social norms and strict business interactions.
- Urban-centric locations – The Nielsen surveys reveal that 62% of millennials prefer to live in urban locations where entertainment, restaurants, and grocery stores are more accessible. You can find shared offices in these areas, making them a perfect fit for the millennial lifestyle.
These shared spaces are quickly becoming the dominant choice for booming industries. As more people get into freelancing or working remotely, investing in a coworking franchise is looking to be a profitable prospect.