218. Ben Wright Shares Data on What Happened in Coworking in Q2

Ben Wright is Head of Flexible Office Solutions, SquareFoot. He is also the founder of Upsuite, a digital platform that helps people find and book flexible work space.

Ben is a former economist and a data nerd. His passion for data surfaces insights that help coworking space operators get access to market dynamics that they can act on.

On this Episode, Ben and I Discuss:

• The findings of Upsuite’s Q2 North American coworking data

• The return of demand in major cities such as NY and LA

• How operators are still working on getting to a cash flow positive occupancy rate

• How shopping is still lagging signing in many markets

• The challenge of digging out of deep COVID discounts for WeWork

• The return of small team demand - 4-8 seat requirements

• How the drop in supply is making demand feel higher in some markets

• Why he’s worried that the coworking sector isn’t ready for the return of demand.

Resources Mentioned in this Podcast:

• Ben Wright on Linkedin

• The Upsuite Q2 Coworking Market Trend Report

• Bill Bennet’s article on WeWork’s discounting strategy

Everything Coworking Featured Resources:

• Community Manager University

• Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

• Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

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For the transcription of this episode, click here.

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