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Concept Premise:

Current CoWorking/CoLiving spaces – and the ancillary services offered - are primarily designed to meet

the needs of a younger audience, mostly under age 40. However, there’s a growing population of people

age 50+ who would use these spaces if they were adapted for their needs and preferences. One way to

think of these types of cooperative spaces is that it’s a “delivery system” for all kinds of products and

services tailored for the 50+ audience in a trusted environment.

Customers who use these types of spaces do so not only because they require a dedicated workspace,

but also because they value social interaction with like-minded peers and often seek advice (or products

and services) from providers in the same network. This opens up opportunities for companies to offer a

broad range of financial services, insurance, office supplies, electronics, travel services and many other

products and services (see attached document for a Persona description).

UPDATE: Due to the complexity surrounding the CoLiving market (residential/commercial zoning laws,

short/long-term housing regulation), the scope of this initial overview focuses solely on the CoWorking

aspect. Further research would be required to properly define the CoLiving aspect.

Market Research Statistics:

By 2020, more than 40% of the US workforce will be so-called contingent workers, according to

a study conducted by software company Intuit in 2010. That’s more than 60 million people.

In 2006, the last time the federal government counted, the number of independent/contingent

workers—contractors, temps, self-employed—stood at 42.6 million, or 30% of the workforce.

As an example of the growth potential, Chicago had 5 co-working spaces in 2010 with a

combined 175,000 square feet, according to data from CBRE, a commercial real estate services

firm. As of 2015, there were 41 with 870,000 square feet, including 1871, Level Office and

WeWork, which are among some of the largest co-working spaces in the Midwest.

Questions:

1. What are the attributes of a “digital nomad” and how do they differ by age group?

2. What do existing CoWorking spaces offer now?

3. How can we best define what needs to be adapted to suit an older audience?

4. How can we test if DN50+ would be receptive to using CoWorking spaces designed just for

them?

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What are the attributes of a “digital nomad” and how do they differ by age group?

Attribute DN<50 DN50+

Frequent traveler, may or may not have a home base X X

Earns income through remote work (employee, freelance or self-employed)

Works online, though some work performed may be done in-person

Typically has multiple revenue streams

Often manages a remote workforce or support team

X X

Desires community interaction and support through social networks X X

Digital natives, open to rapid change and early adopters of new technology X

Possesses 20+ years of work history and/or management experience X

Places high value on comfort, privacy, safety/security and convenience X

Frequent contact with friends and family, particularly children & grandchildren X

What do existing CoWorking spaces offer now?

CoWorking Business Models

There are three distinct types of business models ranging from all-inclusive to usage-based plans, as well

as free or low-cost public options:

1. Membership/subscription

o Customers purchase a plan that includes access to work space and a variety of amenities

including business services, refreshments, events, etc…

2. Pay-as-you-go

o Customers purchase passes that include access for a limited period of time, or to a

restricted or “à la carte” set of services.

3. Free spaces – coffee shops, libraries, shopping malls, hotel lobbies, airports (excl. VIP lounges)

o Customers are able to use public spaces at little (small purchase requirement) or no

cost, though no assurances of availability or quality are made.

WeWork Plans & Pricing

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Hubud Video: https://youtu.be/faBad-JxWh0

Hubud Plans & Pricing

Types of CoWorking Spaces

There are at least three different types of CoWorking spaces that vary primarily by ownership status:

1. Private locations (lofts, warehouses, shared homes)

o Individual or group investors purchase, design/build and manage the real estate. These

CoWorking spaces usually offer the most consistent and comprehensive set of

capabilities because they are specifically designed for CoWorking use.

2. Commercial space (retail, publicly-owned)

o These are typically free spaces that customers use for co-working purposes. While they

are cost-effective and plentiful, they lack a consistent set of offerings and are not

designed specifically for CoWorking.

3. Shared office space (Regus, unused commercial office space)

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o Shared office space offers a comprehensive set of services, yet tends to be a more

sterile environment and the most expensive option - making it less attractive for those

who seek a high level of interaction in a cooperative, low-cost environment.

25N Coworking in Geneva, a Chicago

suburb.

Virgin Hotels Chicago – Commons Co-Op

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CAMP (Chiang Mai, Thailand)

Mokrin House (Belgrade, Serbia)

Hubud (Bali, Thailand)

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How can we best define what needs to be adapted to suit an older audience?

Sources for Getting Feedback

We conducted a survey on Facebook and identified products and services desired by DN50+ customers:

Super-fast, reliable free wifi

Comfortable/padded chairs, ergonomic seating, nothing “low to the floor”

Better lighting

Quiet, private workspaces or conference rooms

Proper desks, standing desks, laptop stands

Option to rent a monitor + mechanical keyboard to use with one's personal laptop

Computer repair services

Computer and mobile phone accessories

Printing, copying, shipping services

Travel, passport and visa information

Seminars, workshops and technical training

Nutrition and exercise training

Personal growth and wellness opportunities

Massage, yoga and other bodywork facilities

Classes or workshops for not-so technology inclined people

Social media implementation

Healthier snacks and refreshments

Transportation (shuttle, Uber) to/from space

Open late or 24-hours

Additional ways to collect information:

Survey current and prospective customers

Survey businesses that cater to the DN50+ audience

Interview editors from relevant publications (Deskmag, Wired, Fast Company) that have written

about CoWorking spaces and have done research on this topic.

http://wiki.coworking.com/w/page/16583831/FrontPage

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How can we test if DN50+ would be receptive to using CoWorking spaces designed just for them?

There are several ways to test this concept:

1. Partner with existing CoWorking spaces to adapt one or more of their locations for the DN50+

audience, and create new marketing messages and visual images that resonate better with an

older audience.

2. Another option is to selectively add products and services to existing CoWorking spaces and

evaluate how they are received however this approach may be confusing or off-putting to

current customers.

3. Select one or more test markets and create a new CoWorking space in each market supported

with promotional programs designed to reach the DN50+ audience.

4. Develop a cooperative plan whereby potential DN50+ customers can “buy in” and own part of

the CoWorking space as an investment.