The year 2020 was like none of us has ever experienced, and it is safe to say most people have been looking forward to 2021. COVID-19 vaccinations are starting to give the world hope that things will begin to return to some sense of normal, even if a different normal, in the coming months. While Venture X looks forward to a more expansive 2021, let's take a look at how the pandemic caused some interesting things to happen in the coworking and flexible shared desk space industry for Venture X in 2020.
The pandemic did, and continues to, provide restrictions on gatherings and how businesses operate. Venture X, as a coworking space that handles mail, is an essential business. That means in most markets, Venture X did not have to shut down, which was a huge relief to members who needed a place to work. In fact, in 2020, Venture X opened 15 more locations throughout the U.S., Canada as well as Costa Rica, ending the year with 39 locations.
Shifting the Focus
As the world was turned upside down for all of us, Venture X and its franchise locations quickly pivoted to ensure they were providing a safe place to work for their current and prospective members. That meant adjustments to cleaning schedules, installing hand sanitizer stations and socially distant floor markings, adjusting furniture layouts, switching to disposable cups, installing contactless check in, etc. These changes provided many current and new members with an option of a space to work when many companies went remote without notice.
That option became important when working from home began to wear on people. Venture X saw many remote workers wanting to get out of the house and find a workspace where they could focus without any of the adorable distractions and virtual mishaps that inevitably happened at home. For some of these workers, the preference was a private office where they could socially isolate and get their work done. Meeting rooms also became a hot commodity as companies realized they needed a solution for meeting with their own teams and with clients. In some cases, members and non-members opted for in-person socially distanced meetings in our state-of the-art meeting and conference rooms. In other cases, they opted to host virtual meetings from these rooms since they are fully equipped with all the latest audio-visual technology needed.
Virtual offices also became a much more coveted product line in 2020. Virtual office plans are designed for those who don’t need a place to physically work each day but want a professional address with mail and package services and the option of adding meeting room hours when needed. From March through December 2020, Venture X saw an 82% increase in virtual office memberships across locations.
As we look to 2021, the future is bright for coworking and flexible office space. The recent Global Coworking Growth Study 2020 showed, among other statistics, that 5 million people will be working from coworking spaces by 2024, an increase of 158% compared with 2020.
Venture X provides professional, flexible workspace options that allow freelancers, remote workers, and businesses the opportunity to choose the type of workspace they need and the frequency they wish to occupy it. Combined with the opportunity to network and collaborate with like-minded professionals in a socially distant environment and the many amenities offered, Venture X is a great solution for today’s professional.