7 Online Coworking Platform Success Stories [2024]
An online coworking platform is a website or app that connects remote workers, freelancers, and entrepreneurs, allowing them to work together in a virtual shared workspace.
It provides tools for collaboration, communication, and access to resources like virtual meeting rooms or project management tools.
To start this business on a budget, you can begin by creating a user-friendly website or app using affordable website-building platforms or hiring freelancers for development.
Focus on building a strong community by offering free trials or low-cost memberships initially to attract users.
As the platform grows, you can explore monetization options like paid memberships, premium features, or partnerships with businesses for additional revenue streams.
Here are some real life success stories of starting a online coworking platform:
1. SinOficina ($36K/year)
Chris's eight year old suggested him the idea of "food named states". A photo series based on this idea went viral on Instagram, and a couple years later, Chris started developing a Shopify store for t-shirts based on the same concept.
How much they make: $36K/year
How much did it cost to start: $0
Current team size: 0
SinOficina is an online coworking space for Spanish-speaking freelancers and entrepreneurs that generates $3,000 per month in revenue, which founder Bosco Soler built by sharing his journey with his audience, delegating tasks, collaborating with formidable people and using WordPress, Slack, Mailchimp, Airtable, Crowdcast, Zapier and Notion.
2. The Office Pass (TOP) ($2.7M/year)
Aditya Verma, the Founder & CEO of The Office Pass, came up with the idea for his coworking business after realizing the significant amount of time, effort, and money wasted by people commuting to work in India. He re-hashed the conventional coworking model to create Neighborhood Coworking, offering high-quality office spaces close to people's residences or businesses. The Office Pass is now the only company in India offering this unique concept, with plans to expand to 55-60 offices and cater to over 1,000 companies.
How much they make: $2.7M/year
How much did it cost to start: $100K
Current team size: 15
The Office Pass, a neighbourhood coworking and managed office company in India, is growing at a rate of over 180% YoY, aims to reach USD 7.3 million over the next 24 months, and offers workspace options suitable for the Indian scenario.
So... can you actually make money with a online coworking platform?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. Room2work ($180K/year)
Alan Crowe, founder of coworking space Room2work, came up with the idea after realizing that small contractors needed more than just storage space. Combining the coworking model with the self-storage model, Crowe created a shared office space that catered to local businesses in need of professional amenities, office space, and storage. Despite launching right before the pandemic, Room2work has managed to attract and retain customers, with a focus on optimizing services and providing value to members.
How much they make: $180K/year
How much did it cost to start: $200K
Current team size: 1
Founder Alan Crowe launched Room2work, a niche coworking space for small businesses in 2020, generating $14K a month with plans to reach $100K in gross profit, by combining the coworking model with the self-storage model to offer a flexible office space optimized for local SEO, virtual offices, and meeting rooms designed for virtual teams.
4. Ramen Club ($48K/year)
Charlie stumbled upon Product Hunt and attended indie hacker meetups. Eventually, he saw how encouraging meet ups are, leading him to start with the idea validation process.
How much they make: $48K/year
How much did it cost to start: $250
Current team size: 0
Ramen Club is a founder community that aims to help solopreneurs succeed, enjoy their journey, and feel less lonely; it currently has over 100 members and $3,800 MRR with 35% MoM revenue growth between April and May 2022.
So... can you actually make money with a online coworking platform?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
