As you might have guessed, coworking is here to stay. Shared workspaces continue to grow in popularity, with 3 million coworking individuals worldwide and more than 19,000 locations serving them. Not only is the trend not slowing down; it seems to be picking up steam. But what else should you know about the future of coworking?

Improved technology will boost the trend. As technology continues to advance, more workers can be adequately supported in a remote or coworking environment. Of course, that might mean that the coworking environment itself must be supportive of new devices, or even offer certain types of technology.

Niches might emerge. As coworking spaces grow in popularity, we can expect some of them to begin to specialize. Gearing spaces toward graphic designers, marketers, or other niche specialties can allow for a feeling of community and networking. Workers will also appreciate the ability to network with other specialists in their field.

Smaller, more focused providers. The coworking market is largely dominated by larger providers at the moment. But smaller companies can more easily adapt to their local markets and provide much-needed niche services, so we expect to see more of these coworking spaces in the future.

Larger companies are catching on. The coworking model has mostly appealed to smaller businesses and freelancers up until now. But that could change as larger companies catch on to the trend. Many have discovered that their large, central headquartered offices can’t really serve the entire world as well as smaller teams stationed more locally. And leasing a large space is prohibitively expensive anyway; smaller spaces and smaller, more focused teams are the way of the future.

Going green. While it’s mentioned less often than other benefits, the environmental friendliness of remote work happens to be one of the primary benefits for many. Providers who want to remain relevant to their target demographic will likely focus on sustainability within their business models. Buildings might utilize natural light and recycled materials, and spaces will be designed to allow for climate control and energy efficiency.

With Millennials and Gen Z soon to dominate the workforce as Boomers retire, we can predict that there is no reversing the coworking trend. Instead, coworking providers should focus on flexibility, and be ready to quickly pivot and provide for changing needs of each local workforce.

Parlay Cafe is positioned to do just that! Come tour one of our facilities and reach out to us about our franchising opportunity. Now is the time to jump on board the coworking trend and provide a unique and valuable service to your area.