In the aftermath of the pandemic, inflation, and general global uncertainty, there are numerous challenges significantly affecting the office sector. What is the current state of the coworking market; is it time to accelerate, or should we be applying the brakes? One of the players in the market is CONVENDUM, and the company’s Vice President, Oscar Limbäck, recently discussed this during Stora Kontorsdagen: — This is an industry where all players will be able to grow.
CONVENDUM was founded in 2015 by Håkan Jeppsson, and the company opened its first coworking location in March 2016, at Regeringsgatan 48 in Stockholm. Since then, the coworking company has been in an expansion phase and recently opened its second Gothenburg location at Stampgatan to complement and relieve its unit on Avenyn, which has been fully occupied for the past few years. Additionally, they have opened new facilities at seven locations, with operations in Stockholm, Gothenburg, and Palma.
— We are accelerating quite well now, though not at full throttle. We have to let the economy speak for itself; there have been a few years of pandemic, inflation, and other issues — but we remain optimistic about the future. This is an industry where all players will be able to grow, says Oscar Limbäck, Vice President at CONVENDUM.
The coworking industry is still in its early stages and remains quite fragmented, according to Oscar Limbäck. It is crucial for the industry to establish standards to prevent players from undermining each other by diluting the concept and products. This is a common scenario when companies are competing and positioning themselves.
— It’s simply about defining what the product on the market is. Everyone should certainly have their own elements, but we need to clarify what it actually involves.
In Sweden, the interactions between different coworking players seem relatively calm, although the atmosphere in Stockholm has been quite competitive and elbows have occasionally been sharp. Perhaps now is the time for companies like CONVENDUM to broaden their product base and review their offerings. Last fall, the company launched its office management product, which involves moving into a company’s premises, rather than the other way around (as in pure coworking), and handling everything from reception to coffee machines and printers.
— It’s a new thing for us, a completely new market, entirely different competitors, and different conditions. We come in and take over certain aspects of the operation so that companies can focus on their core activities — just as they do when they are with us, says Oscar Limbäck.
An office is also about brand building. What are the opportunities for a company using a coworking space to brand itself in its rented premises? — It depends a bit on the size of the office. We lease everything from a few square meters to an entire building of 6,000 square meters, and branding opportunities depend on the office space. But there are always opportunities for branding.
If one is a large organization, the chances are greater to have a logo on the building and their own coffee machine. — In the beginning, many small companies were with us, but now we have companies with hundreds, almost thousands, of employees reaching out. I hope the industry grows, and for our part, we hope to build profitability, but most importantly, to spread our concept.
Source Fastighetssverige: “CONVENDUM branches out in a fragmented industry”
