WeWork has announced the launch of its Coworking Partner Network, an affiliate program of third-party workspaces that delivers increased flexibility and choice to coworking members worldwide.
Propelling the launch is a new partnership with Vast Coworking Group, the world’s largest privately owned franchisor of coworking spaces. The collaboration gives WeWork Workplace users access to more than 75 new locations in more than 50 markets across the U.S. and Canada under the Venture X, Office Evolution and Intelligent Office brands — in addition to WeWork’s global portfolio of more than 500 locations.
An Asset-Light Approach with Global Reach
One of the most compelling aspects of the Coworking Partner Network is its asset-light business model as WeWork leverages Yardi technology and partnerships with third-party operators like Vast to expand its offering. This allows clients and users of WeWork to access spaces in prime markets but also secondary or tertiary markets closer to home where WeWork might not be.
“The way we look at it is that we need to be where our members need us to be,” said WeWork CEO, John Santora. “WeWork is present in all the big metropolitan cities around the world (…), but sometimes some of these smaller suburban markets are key. As people continue to change how they work and where they work, this provides access to workspaces closer to home, yet they can still be in a corporate office environment.”
Space Anywhere, Flex Everywhere — Expanding Flexibility with WeWork & Vast
The partnership marks a significant shift in how flexible workspace solutions are offered. In response to the increasing demand from distributed teams to book space in various locations, large commercial buildings have also been incorporating more flex spaces in recent years, thereby increasing the value of their traditional office spaces, as well, through the addition of shared amenities.
“The ‘space anywhere’ and ‘flex everywhere’ concepts are becoming part of a ubiquitous network of options, and CoworkingCafe serves as an exchange that links all the coworking locations with Kube, as well as WeWork Workplace, forming a seamless network,” Yardi CEO, Anant Yardi noted in a recent interview. “It will take years for these changes to fully develop, but coworking operators play a key role in this transition.”
The Coworking Partner Network: A New Era of Collaboration & Competition
By connecting coworking operators via shared resources, the Coworking Partner Network creates new pathways for collaboration by enabling them to thrive in a shared ecosystem with increased visibility, while still leaving room for constructive competition.
“There is a tremendous opportunity to collaborate and compete where competition is appropriate,” Anant Yardi said. “When we all work together — whether in partnerships, networks or alliances — I believe everyone will benefit. This includes the operators, the companies that need flexible space and the individual members who rely on coworking providers.”
Jason Anderson, president of Vast Coworking Group, emphasized the importance of collaboration by comparing the coworking industry to the airline industry, in which travelers prefer to book through familiar brands even when traveling to destinations only covered by a collaborating airline.
“Every other large-scale, local-based service industry is dominated by franchise businesses,” he said, adding that coworking is following that same trajectory.
“When you look at the real estate industry as a whole, the market is massive,” Santora added. “There’s room for all of us to find our niches, build key client relationships and still work together in ways that benefit everyone.”
As coworking continues to evolve, the Coworking Partner Network is set to redefine how operators collaborate and compete by offering flexibility and choice to a growing base of members. Plus, by connecting more locations and fostering partnerships, WeWork, Vast and Yardi are paving the way for a future with a new level of adaptability in a rapidly changing landscape, further benefiting all players in the coworking ecosystem.
