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ASIAN RESULTS OF DESKMAG'S 2018 GLOBAL COWORKING SURVEY

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Presented at CUASIA 2018 in Georgetown, Malaysia

Published in: Business

ASIAN RESULTS OF DESKMAG'S 2018 GLOBAL COWORKING SURVEY

  1. 1. ASIAN RESULTS OF THE 2018 GLOBAL COWORKING SURVEY THE INDEPENDENT CONDUCTION OF THE 2018 GLOBAL COWORKING SURVEY WAS SUPPORTED BY::
  2. 2. ths Statistic is RaLstic THE FOLLOWING SLIDES ARE PRESENTED IN A GAME SHOW FORMAT
  3. 3. RULES RULES: GUESS THE MOST REALISTIC STATISTIC WITHOUT GOING OVER. THE CONTESTANT WITH THE CLOSEST GUESS WINS A ROUND, AND THE ONE WITH THE MOST RIGHT GUESSES WINS THE GAME. THE 2018 GLOBAL COWORKING SURVEY
  4. 4. HOW MANY MEMBERS DOES AN ASIAN COWORKING SPACE HOST ON AVERAGE? ROUND 1: NUMBER OF MEMBERS ROUND 1 THE 2018 GLOBAL COWORKING SURVEY
  5. 5. ROUND 1: NUMBER OF MEMBERS ASIA 73 5% TRIMMED MEAN MEAN 20555 (71) (40) (159) 2018 (2017) +29%+38% MEDIAN +3% 25 % 50 % 75 % 100 % 2018 16 % 14 % 26 % 45 % UP TO 49 MEMBERS 50 TO 99 MEMBERS 100 TO 149 MEMBERS 150 & MORE MEMBERS -11 -1 +4 +9 82 GLOBAL 73 MEMBERS (74) THE AVERAGE COWORKING SPACE IN ASIA HOSTS LESS MEMBERS THAN THE GLOBAL AVERAGE, BUT THE SHARE OF VERY SMALL COWORKING SPACES DECREASED DRASTICALLY.
  6. 6. ROUND 2 ROUND 2: PROFITABILITY WHAT PERCENTAGE OF ASIAN COWORKING SPACES ARE CURRENTLY PROFITABLE? THE 2018 GLOBAL COWORKING SURVEY
  7. 7. ROUND 2: PROFITABILITY 25% 33% 42% 27% 25% 48% PROFITABLE ZERO PROFIT - ZERO LOSS NOT-PROFITABLE ASIA GLOBAL -12 +10 1000 % 2000 % 3000 % 4000 % 5000 % 6000 % 7000 % 8000 % 9000 % 10000 % 39% 26% 33% 2% N.A. / DON'T KNOW NOT PROFITABLE ZERO PROFIT/LOSS PROFITABLE OWN PROFITABILITY ESTIMATION OF OTHER COWORKING SPACES AROUND -1 -9 +2 1000 % 2000 % 3000 % 4000 % 5000 % 6000 % 7000 % 8000 % 9000 % 10000 % 41% 32% 25% 2% -1 67% OF COWORKING SPACES NEED TO BE PROFITABLE ON THEIR OWN 76% -1 +4 COMPARED TO 2017 48 PERCENT LESS ASIAN COWORKING SPACES REPORT TO BE PROFITABLE LIKELY CAUSED BY MORE COMPETITION. BUT THEY ARE STILL MORE OPTIMISTIC ABOUT THEIR PROSPECTS WHEN THEY COMPARE THEMSELVES WITH OTHERS.
  8. 8. ROUND 3 WHAT MARGINS DO PROFITABLE ASIAN COWORKING SPACES REPORT POST TAXES? ROUND 3: PROFIT MARGIN THE 2018 GLOBAL COWORKING SURVEY
  9. 9. ROUND 3: PROFIT MARGIN AFTER TAXES OF PROFITABLE COWORKING SPACES 8.8%5% TRIMMED MEAN 12.7%5% TRIMMED MEAN ASIA GLOBAL MEAN: 9% MEDIAN: 4.5% MEAN: 14% MEDIAN: 10% SHARE OF COWORKING SPACES THAT ARE 12 MONTHS OLD OR YOUNGER THIS GRAPHIC SHOWS THE PROFIT MARGIN OF PROFITABLE COWORKING SPACES ONLY = PROFIT MARGIN > 0%. 28 % 27 % AVERAGE AGE OF COWORKING SPACES 23 MONTHS MEAN: 25 MEDIAN: 23 MEAN: 39 MEDIAN: 27 34 MONTHS -4 -7 +4 -3 COMPARED TO 2017 8.8 PERCENT COWORKING SPACES IN ASIA REPORT A LOWER PROFIT MARGIN. THOUGH THE MARKET BECAME MORE MATURE WITH A LOWER SHARE OF NEW SPACES, ASIAN COWORKING SPACES ARE ALSO ONE YEAR YOUNGER THAN THE GLOBAL AVERAGE.
  10. 10. ROUND 4 ROUND 4: TIME TO REACH BREAK-EVEN HOW MANY MONTHS DOES IT TAKE FOR AN ASIAN COWORKING SPACE TO BREAK-EVEN? = MAKING NEITHER LOSS NOR PROFIT THE 2018 GLOBAL COWORKING SURVEY
  11. 11. ROUND 4: TIME TO REACH BREAK-EVEN + - 17 M O N TH S ASIA GLOBAL MEAN: 19 MEDIAN: 10 5% TR IM M ED M EA N MEAN: 15 MEDIAN: 11 + - 13 M O N TH S 5% TR IM M ED M EA N 17 MONTHS ASIAN COWORKING SPACES NEED MORE TIME TO BREAK-EVEN.
  12. 12. ROUND 5 HOW LONG DOES IT TAKE TO OPEN A COWORKING SPACE IN ASIA? IN MONTHS. FROM THE FIRST PLANNING TO THE OPENING DAY ROUND 5: DEVELOPMENT TIME TO OPEN A NEW COWORKING SPACE THE 2018 GLOBAL COWORKING SURVEY
  13. 13. ROUND 5: DEVELOPMENT TIME TO OPEN A NEW COWORKING SPACE QUESTION: HOW MANY MONTHS DID IT TAKE FROM THE FIRST PHASE OF CONCRETE PLANNING TO THE OPENING OF YOUR COWORKING SPACE? QUESTION WAS ONLY RESPONDED BY COWORKING SPACES THAT OPENED IN 2017. ASIA 4.2 MONTHS GLOBAL MEAN: 4.5 MONTHS MEDIAN: 3 MONTHS 7.2 MONTHS MEAN: 7.9 MONTHS MEDIAN: 6 MONTHS 4.2 MONTHS BUT THEY ARE FASTER PLANNED & BUILT THAN ANYWHERE ELSE
 IN THE WORLD.
  14. 14. ROUND 6 HOW LONG DOES THE AVERAGE LEASE TERM RUN IN ASIA WHEN A LEASE IS SIGNED? ROUND 6: LENGTH OF LEASE TERMS THE 2018 GLOBAL COWORKING SURVEY
  15. 15. ROUND 6: LENGTH OF LEASE TERMS MISSINGPERCENTAGES:OTHER&N.A. C O W O R K I N G FULL REMAINING 0 % 1.750 % 3.500 % 5.250 % 7.000 % ASIA GLOBAL FULL LEASE TERM REMAINING TIME LEFT ON LEASE MONTHLYRENT? I SIGN EVERYTHING MEAN: 72 MEDIAN: 60 MEAN: 56 MEDIAN: 36 MEAN: 59 MEDIAN: 60 MEAN: 43 MEDIAN: 28 66 MONTHS 56 MONTHS 49 MONTHS 39 MONTHS 66 MONTHS 5% TRIMMED MEAN 0 17,5 35 52,5 70 LEASED PART OF A PART OF A BELONGS TO 16%7%4% 70% 23%10%5% 58% OR RENTED MANAGEMENT CONTRACT JOINT VENTURE WITH OWNER THE COWORKING SPACE ASIA GLOBAL CONTRACT STATUS WITH BUILDING OWNER MOST LEASES ARE SIGNED FOR 5 YEARS, BUT ON AVERAGE, ASIAN COWORKING SPACES PREFER LONGER LEASE TERMS. THERE'S ALSO AN HIGHER SHARE OF THEM THAT OWN THEIR LOCATION, 
 RATHER THAN RENT IT.
  16. 16. ROUND 7 WHAT PERCENTAGE OF ALL EXPENSES DO ASIAN COWORKING SPACES SPEND ON STAFF COSTS? ROUND 7: EXPENSES OF COWORKING SPACES 219% REMOVE ONE DIGIT
  17. 17. ROUND 7: EXPENSES OF COWORKING SPACES ASIA GLOBAL 2 %2 % 5 %6 % 6 %7 % 4 % 6 % 5 % 6 % 7 % 8 % 17 % 19 % 17 % 19 % 37 % 27 % RENT OF LOCATION OPERATING COSTS WAGES FOR STAFF MAINTENANCE WAGES FOR OWNERS EXTERNAL MARKETING EQUIPMENT FOOD & DRINKS OTHER* -3 +2 +1 +1 = COMPARED TO 2016 = COMPARED TO 2017 -6 +4 +7 -1 -3 0 19 PERCENT THE BIGGER THE COWORKING SPACES THE HIGHER PERSONNEL EXPENSES RELATED TO OTHER EXPENDITURES. NOW 1 IN 5 DOLLAR IS PAID FOR THE STAFF. RENTAL COSTS SHRINK WITH AN HIGHER SHARE OF SPACES THAT OWN THEIR LOCATION.
  18. 18. ROUND 8 WHAT PERCENTAGE OF INCOME DO ASIAN COWORKING SPACES GENERATE FROM PRIVATE OFFICES? ROUND 8: INCOME STREAMS OF COWORKING SPACES 237% REMOVE ONE DIGIT THE 2018 GLOBAL COWORKING SURVEY
  19. 19. ROUND 8: INCOME STREAMS OF COWORKING SPACES -1 -3 ASIA GLOBAL 2%4% 2% 1% 2% 5% 2% 2% 1% 1% 4% 2% 8% 16% 10% 14% 27% 27% 10% 3% 32% 26% RENTING DESKS COMBINED MEMBERSHIP PLANS RENTING PRIVATE OFFICES RENTING MEETING SPACES RENTING EVENT & CLASS SPACES VIRTUAL OFFICE SERVICES SPONSORING SALE OF FOOD & DRINKS SALE OF TICKETS TO INTERNAL EVENTS PUBLIC SUPPORT OTHER -4 -8 +9 0 0 -13 A DECREASED PERCENTAGE DOES NOT INDICATE A DECREASE IN ABSOLUTE NUMBER; RATHER, IT INDICATES A DECREASE RELATIVE TO OTHER TYPES OF INCOME. -10 +14 +5 +10 27 PERCENT FOR YEARS, PRIVATE OFFICES ARE ON THE RISE. NOW, THEY TEND TO BECOME THE MOST IMPORTANT REVENUE STREAM FOR COWORKING SPACES IN ASIA AS WELL AS WORLDWIDE. = COMPARED TO 2017
  20. 20. ROUND 9 WHAT PERCENTAGE OF ASIAN COWORKING SPACES DO NOT FOCUS STRONGLY ON INDIVIDUAL USERS? ROUND 9: STRONG CUSTOMER GROUP FOCUS THE 2018 GLOBAL COWORKING SURVEY
  21. 21. ROUND 9: STRONG CUSTOMER GROUP FOCUS 0 % 1.750 % 3.500 % 5.250 % 7.000 % 4% 9% 57% 79% 8% 27% 63% 64% ASIA GLOBAL 36 PERCENT INDIVIDUAL USERS COMPANIES W/ LESS THAN 10 EMPLOYEES COMPANIES W/ 10 - 100 EMPLOYEES COMPANIES W/ MORE THAN 100 EMPLOYEES SHARE OF COWORKING SPACES THAT FOCUS STRONGLY ON ... ASIAN COWORKING SPACES SKEW MORE TOWARDS COMPANIES COMPARED TO COWORKING SPACES IN OTHER REGIONS WORLDWIDE.
  22. 22. ROUND 10 WHAT PERCENTAGE OF COWORKING SPACE MEMBERS PREFER SIMPLE CHAIRS WHEN WORKING IN A COWORKING SPACE? ROUND 10: WHERE MEMBERS SIT (2017 GLOBAL RESULTS) THE 2018 GLOBAL COWORKING SURVEY
  23. 23. 4 PERCENT 0 % 2.500 % 5.000 % 7.500 % 10.000 % 3%3%1%36%42%14% A BASIC CHAIR (E.G. WOODEN OR PLASTIC) A SIMPLE OFFICE CHAIR AN ERGONOMIC OFFICE CHAIR A STABILITY BALL OR BALL CHAIR A STANDING DESK OTHER & N.A. 0 % 2.500 % 5.000 % 7.500 % 10.000 % 4% 8%3%70%13%4% WHERE MEMBERS SIT WHAT MEMBERS PREFER 14% 36% 70%13% 4% 42% 1 IN 7 (!) MEMBERS ARE SEATED ON SIMPLE PLASTIC OR WOODEN CHAIRS - MOST OF THEM AGAINST THEIR OWN WILL. MAKE THOSE SEATS COMFY AT LEAST. ROUND 10: WHERE MEMBERS SIT (2017 GLOBAL RESULTS)
  24. 24. THANKS FOR PLAYING! CARSTEN FOERTSCH, DESKMAG.COM bit.ly/coworkingletter
  25. 25. THE 2018 GLOBAL COWORKING SURVEY MAIN SUPPORTERS essensys.tech "Essensys is a simple, easy to use software platform that helps you manage your workspace from lead to cash and everything in between. Workspaces can attract and retain customers, grow additional income streams and gain business insight to make quicker decisions. We focus on ensuring that your workspace can deliver the best customer experience.” "Nexudus is a leading white-label platform to help coworking space operators with their day-to-day tasks. Today, hundreds of spaces around the world use Nexudus to spend less time typing and chasing invoices, keeping their communities engaged and up- to-date, or controlling who is in and out of the space and how it is used. Nexudus is made for and by their active community of users." nexudus.com "WUN is consistently the shared space and coworking platform of choice for the largest and fastest growing workspace operators from Premier Business Centers to Quest Workspaces." wunsystems.com MAIN SUPPORTERS HELPED DISTRIBUTING THE SURVEY AND FINANCIALLY SUPPORTED THE CONDUCTION OF THE SURVEY. DISTRIBUTION PARTNERS HELPED DISTRIBUTING THE SURVEY ON A GLOBAL BASIS.. OFFICIAL SUPPORTERS HELPED DISTRIBUTING THE SURVEY WITHIN THEIR COWORKING NETWORK. 25
  26. 26. DISTRIBUTION PARTNERS OFFICIAL SUPPORTERS AGORA RDM
  27. 27. WHAT ARE THE DIFFERENCES BETWEEN PROFITABLE & UNPROFITABLE COWORKING SPACES? SUPPORT THE GLOBAL COWORKING SURVEY & RECEIVE THE BOOKLET CLICK HERE
  28. 28. ASIAN RESULTS OF THE 2018 GLOBAL COWORKING SURVEY

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