Employees lined up behind the tableMore and more property owners are adopting the business model of shared office spaces and coworking. Instead of leasing office spaces to companies, they now provide access and the services of a virtual office to freelancers, independent contractors, entrepreneurs and even big corporations.

A Working Business Model

Leasing to individuals may not seem as profitable to leasing to companies, but this has been proven to be false. Around the world, virtual office franchises and coworking spaces have been increasing to accommodate more than 2.3 million people today.

More than 3,000 virtual offices open each year, catering not only to individuals but also to corporations that hire them. Property owners with large idle spaces can easily adapt to the virtual office model without the need for major changes or investment.

Why It Works

Limited supervision, loose dress codes, flexible hours and an output-based approach are attractive features of a work environment.

Around 4 million Americans telecommute or perform some sort of home-based work. A shared office space gives telecommuters an ideal office environment away from the distractions of home.

Studies show that coworkers are less stressed, and perform better. The energy in a shared office space is high and with almost no supervision — it allows coworkers to focus on the task at hand.

Big and Small Businesses

New entrepreneurs tend to have limited capital and allocating a large part of that into leasing an office can impede business growth. Shared office spaces provide entrepreneurs with an office-like environment without the hassles that come with a regular office.

Big corporations tend to use virtual offices for creative purposes and to give their home-based workers a better environment.

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Coworking has proven itself to be more than just a successful experiment. Thousands of shared office spaces are opening each year, proving that coworking is more than viable — it is profitable. It has rewritten the rules of employment and has given property owners an additional option for their large office spaces.