How Workbar Survived and Thrived
If you're tuned in to the coworking industry, or just the news in general, you've probably heard the latest news about WeWork. The coworking giant recently raised doubt about its ability to stay in business as they face losses and a cash crunch amid the changing work landscape. People are canceling their memberships faster than anticipated, and it's hurting the bottom line.
We won't deny that we're a liiiiiiitle competitive at Workbar. We think our product is the best in the biz, of course, but we don't want to see WeWork fail. We do think we could give them some advice, though. Since our start in 2009, Workbar has grown steadily, and we're on course for a total world takeover by 2030. Or at least an East Coast domination. At the very least, Massachusetts. Here's how we've survived and thrived over the years and plan to do so for years to come.
Intentional Growth
The truth is, we have always been compared to WeWork, and while they were booming, people wondered why we weren't growing at the same rapid rate. Instead, Workbar grew thoughtfully over the years. We perfected our model and we never overpromised or bit off more than we could chew. We went into the pandemic with no debt and with excellent relationships with our landlord partners. No one wanted us to fail.
Regional Density
Workbar is all about managing regional density. Our locations are spread throughout a region, and they do not cannibalize each other. They're also much smaller than our competitors, spreading any risk around an entire region. If one geographic area suffers, it does not bring down our whole portfolio. It's like the WeWork model, just flattened down and spread across an entire region. And did we mention perfected?
Designed For How YOU Work
Our definition of coworking is tied to how our members want to work. Coworking is about the community here; we don't go after one Fortune 500 company for each location. The more, the merrier! We want to foster an inclusive environment that allows our members to inspire each other day in and day out. Our spaces are thoughtfully designed for members to work in our open areas. Workbar doesn't have an HQ, so our team works in the spaces just like our members, so we can see for ourselves what is working. And if something isn't working, we fix it.
Our Members Stick Around
The Workbar experience is premium. Our members are not canceling because our Community Manager Team focuses on the member experience, making our locations a place where our members can be productive and make meaningful human connections. It's like Hotel California without the mirrors on the ceiling or pink champagne on ice. Once you're here, ya just can't leave.
Workbar isn't going anywhere, friends! So schedule your tour today to see it for yourself.
