1 / 12

Stern Signature project

Stern Signature project . Co-Working market in u.s.a. Stern signature project - the co-working market in u.s. YISHAN “EVA” LIN. Sudharsun " Sud " Jagannathan. Agenda Co-working Definition & History Market Attractiveness Type of Co-working Spaces & Business Models

jerom
Download Presentation

Stern Signature project

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Stern Signature project Co-Working market in u.s.a

  2. Stern signature project - the co-working market in u.s. YISHAN “EVA” LIN Sudharsun "Sud" Jagannathan Agenda • Co-working Definition & History • Market Attractiveness • Type of Co-working Spaces & Business Models • Market Challenges & Opportunities • Next Step • Panel Speakers Introduction • NYU Stern MBA Class of 2015 • Major in Strategy and Finance • Project Manager at Alacriti • sj1449@stern.nyu.edu • NYU Stern MBA Class of 2016 • Major in Strategy and Business Analytics • Business Analytics Manager at EMS • yl856@stern.nyu.edu

  3. What is coworking? Coworkingis a style of work that involves a shared working environment, often an office, and independent activity. Unlike in a typical office environment, those co-working are usually not employed by the same organization. - Wikipedia Office Space Office Supply “Coworking Space” could share: Projects Service Talent Know ledge Comm unity

  4. How did co-working start? • Emergence of freelance IT professionals in late 90’s • The very first co-working space was based out of San Francisco. • The term “co-work” was coined by Brad Neuberg, a noted software engineer. • The rise of a technology enabled workforce, real estate crash of 2008 and dismal job opportunities for young people fostered the growth of co-working

  5. Market attractiveness % of Total Workforce 7% 16% 29% 40% • Industry growth drivers: • Mobile technologies • Internet access • Low costs of starting business • High reward for startups • Changed social image on self-employment

  6. The Market Need for Co-working Problems Market Need Innovation & Growth Isolation Social Connection Collaboration • Share expertise • New ideas or idea breakthrough • Refer biz to each other • Combine talents for larger projects • Found company together Chemistry Distractions Professional Workspace Sharing High Capital Infrastructure Business Infrastructure

  7. Type of Co-working space Type 5: Provide Full-Service Acceleration & Funding BizOp & Equipment Service Type 5: Accommodate Larger Team Type 4: Provide Additional Biz Services Type 3: Enhance Knowledge Sharing Education / Knowledge Program Facilities’ Involvement in Customers’ Business Growth Services and Costs by Space Providers Type 2: Build Community Sense Networking Events i.e. Happy Hour Traditional Office Lease Type1: Office Rental for Small Teams Office Space & Amenity Type of Customers 12+ ppl team 4-12 ppl team Individuals 1-3 ppl team Startup Life Stage

  8. Common Business Models & challenges Typical co-workingservice provider Rising real estate cost Fixed amount of real estate Limited ability to raise membership dues (small firms, short tenure, increasing competition) Limited profitability per square foot Specialized co-working service provider ? ? ?

  9. The industry future : Increasing players New Work City Entrepreneur Real Estate Coworking Market B-Corp Lab Central The Yard Startup Service Provider Fueled Collective Rocket Space Incubator

  10. The industry future : growth strategies Invest in retention program Turn on customer acquisition budgets A. Marketing Programs Increase value-added services Expand into private offices Build virtual member network Growth Strategy B. Extension of Brand Geographic expansion Merger & Acquisition C. Physical Expansion

  11. Next phase of research • What is the total number of co-working spaces in U.S.? • Is co-working a result of the new just-in-time model of large corporation, a lifestyle, or a function of bad economy? • Does co-working environment have substantial impact on startup’s team formation, productivity, or future success?

  12. Panel speakers Tony Bacigalupo Marissa Feinberg James Wahba Jason Saltzman Evan Malone Molly WenigRubenstein Jason Juliano

More Related