Predictions are indicating that over 32.6 million Americans will work remotely by 2025, which opens a lot of room for the coworking model to take center stage. Coworking is where workers of various companies can do their work in a common workspace by purchasing a membership. Despite offering a creative alternative to an isolated working situation, 46% of coworking spaces are unprofitable. This is due to the high costs associated with renting out the real estate needed for the co-locating space. These traditional models also often fail to develop a sense of community within their members- almost 70% claim that they haven’t made any friends outside of their coworkers.

These traditional coworking models have suffered from fluctuating memberships and low preference rates against traditional offices. In response, a new model is emerging that uses underutilized spaces in hotels, bars, and restaurants to eliminate real estate expenses entirely. These offset real estate costs allow these spaces to offer much  cheaper memberships starting at $30. These spaces also prioritize community and social experiences for their members through communal lunches and happy hours. They often partner with community organizers to foster vibrant, niche communities that feel like a “third space” outside of work. Learn more about how Tavern is taking coworking in NYC to the next level with its community below.