Happy 2 year anniversary to us!

It’s been 2 years since we opened Area’s doors! We’ve got so much to celebrate on this International Coworking Day :)

Two years ago, if asked what my goal was, I’d have said to create a vibrant community here, within (of course) a financially successful business model. Happily, we’ve done both and Area continues to carry on growing and, we think, improving!

I think there are a few reasons why it has worked. One is the result of the Covid crisis, which however badly it knocked our industry at first, gradually produced a profound change in our concept of the workplace. When companies and individuals returned to the office, there was an opportunity to rethink what a workplace is and where it has to be based. The concept of a traditional office collapsed, to be replaced with hybrid models combining offices, home working and coworking. With more companies and employees having greater autonomy over when and where they work, coworking spaces have proliferated.

Another reason would be simple supply and demand – Madrid has a booming startup industry and the flexibility that a coworking offers works well for companies in that early stage where growth is so unpredictable. And the concept of sharing a space with others works well for sharing ideas - for startups, small companies or freelancers.

Then there is the design and layout of Area. Providing a mixture of private spaces as well as areas for interaction has worked really well in attracting different types of people who work in different ways. The modern, industrial aesthetic has drawn people in, especially in a city that doesn’t have a lot of great industrial design, and investing in an abundance of plants has helped created a warm and inviting environment.

And finally, there is our small-scale business model. As the coworking industry consolidates after years of expansion, many coworking sites are fairly soulless chains operated by large corporations and filled with large companies rather than individuals to maximise profit. Our small-medium size helps create a connected community, many of whom have become good friends. And being on site provides a personal touch and care for the space that helps us stand out from the competition. And I’m sure that having our dog, Rufi, here as Area’s mascot, has been a big draw!

There was a temptation to think that Area was always going to be a success and that it had more to do with market conditions than our own input, however the closure of some of our competitors, some in the same neighbourhood, shows this not the case. And so I think that it is mainly the final point that has ensured our success since opening.

Over the next couple of years, I’m sure there will be challenges ahead and increased competition. Maybe we’ll look into expanding, or take on a new project. Either way, here’s to the next 2 years.