1 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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UPDATE: Due to the complexity surrounding the CoLiving ......Mokrin House (Belgrade, Serbia) Hubud (Bali, Thailand) 6 How can we best define what needs to be adapted to suit an older
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Transcript
1
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?
2
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