4 ms·

The advantage is similar to that of a large gym chain - you can pay more to get a membership that's valid at all the WeWorks in the entire world. This is great

The advantage is similar to that of a large gym chain - you can pay more to get a membership that's valid at all the WeWorks in the entire world. This is great for people who regularly travel between many large cities.

cj 7y ago
I suspect the majority of WeWork's revenue comes from people working in the same location day in, day out. Same with gym chains. People sign up for Planet Fitness because the nearest location is the most convenient, not because they plan to visit multiple locations over the course of a year (not to say there aren't people taking advantage of the multi-city aspect, just that they aren't the typical customer).
- jjeaff 7y ago
  Ya, I can't imagine that is really a draw at all. If you travel a lot, you will have an office in your hotel room or can use the business center in the hotel.
  - MrFantastic 7y ago
    It would be more impressive to meet a client at a WeWork office.
    - goatinaboat 7y ago
      Not sure what industry you’re in but I don’t think most people’s clients think like that.
    - nradov 7y ago
      If you're travelling you're probably meeting the client at their office.
- lancesells 7y ago
  I get your point and agree but I think gyms make money from people not being there at all. If every gym member showed up multiple times a week it would be like going to the gym the week after New Year's.
- vinay_ys 7y ago
  WeWork may soon be headed the way of Gym's business model which is to oversubscribe like crazy assuming not everyone will show up at the same time and many will not show up at all. When that happens, I wonder what happens to NPS. How many people will be a WeWork member (like their gym membership) but don't really need/want to use it?
  - cj 7y ago
    The answer to that question is already answered by looking at existing coworking spaces. WeWork isn't doing anything different. Existing coworking spaces already make lots of money off of people who don't fully utilize their membership (which isn't necessarily a bad thing). WeWork is no different.

cj 7y ago

I suspect the majority of WeWork's revenue comes from people working in the same location day in, day out. Same with gym chains. People sign up for Planet Fitness because the nearest location is the most convenient, not because they plan to visit multiple locations over the course of a year (not to say there aren't people taking advantage of the multi-city aspect, just that they aren't the typical customer).

jjeaff 7y ago
Ya, I can't imagine that is really a draw at all. If you travel a lot, you will have an office in your hotel room or can use the business center in the hotel.
- MrFantastic 7y ago
  It would be more impressive to meet a client at a WeWork office.
  - goatinaboat 7y ago
    Not sure what industry you’re in but I don’t think most people’s clients think like that.
  - nradov 7y ago
    If you're travelling you're probably meeting the client at their office.
lancesells 7y ago
I get your point and agree but I think gyms make money from people not being there at all. If every gym member showed up multiple times a week it would be like going to the gym the week after New Year's.
vinay_ys 7y ago
WeWork may soon be headed the way of Gym's business model which is to oversubscribe like crazy assuming not everyone will show up at the same time and many will not show up at all. When that happens, I wonder what happens to NPS. How many people will be a WeWork member (like their gym membership) but don't really need/want to use it?
- cj 7y ago
  The answer to that question is already answered by looking at existing coworking spaces. WeWork isn't doing anything different. Existing coworking spaces already make lots of money off of people who don't fully utilize their membership (which isn't necessarily a bad thing). WeWork is no different.