Why are Virtual Offices and CloudTouchdown Passes So Popular with Corporate Users?

Virtual Office Plans for Work From Home Professionals | CloudVO

COVID-19 has changed the way people work. An increasingly large number use virtual offices to supplement work-from-home, particularly when they are not able, or unwilling, to go back to the distant and densely populated corporate office.

When the kitchen table doesn’t do it anymore, when the baby or the dog is in the way of concentrated work, they can check into a nearby flexible office space to isolate themselves in a private office that is as safe or safer than home. In that sense, the virtual office is an extension of work-from-home with a part-time use of the office infrastructure available close to home. CloudVO’s network has close to 1,000 locations widely distributed across geographies, suburban areas, and large cities across the US, Canada, and beyond.

Virtual Offices in Washington D.C. | CloudVO

What are virtual offices? You can think of them as part-time office solutions. They provide corporate users access to a wide range of part-time remote workplace services, provided by or connected with a flexible office location, on a subscription basis. 

There is a fixed monthly cost associated with it, which makes it easy for budgeting purposes. The access to a part-time office (we call them ‘day offices’) is limited to a given number of hours (or credits) to keep the price of the service low. Our local and regional CloudTouchdown passes fall in the $200 to $350/month range, a lot less than the $1,000 to $1,400 total cost of occupancy typical in a corporate campus. Sponsoring companies are sensitive to the cost savings, and users like the convenience of the extra office near home, not to mention access to conference rooms (de-densified in these COVID-19 days!) to meet other local team members, zoom rooms, and other features you would expect in a mature office environment.

CloudTouchdown Passes for Work From Home Employees | CloudVO

Who else uses virtual offices? Companies that want to establish an inexpensive business identity at one of our flexible office spaces. They can use our business address and mail services to establish a low-cost yet functional branch office. These plans typically cost less than $100/month. Digital mail (scanning and forwarding of mail) makes coming to the office unnecessary. Users can add live phone answering services with a local phone line for a stronger local presence, and use meeting rooms when they do have business to perform in the location.

As many companies are deciding to eliminate corporate spaces in densely populated cities, they are searching for inexpensive and nimble solutions to keep a local presence in those cities. This is another reason for the steep increase in inquires for virtual offices in cities like San Francisco, Los Angeles, New York, Houston, or Denver.

Looking to balance working from home with a Virtual Office Plan? Get started here.

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About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide.


Resources from Webinar Series: Preparing your Flexible Office Space for a New Normal

CloudVO Preparing your Flexible Office Space for the new Normal Webinar Series Speakers


Our 3-part Webinar Series on “Preparing your Flex Office Space for a New Normal” was a huge success! Please fill out your information below to download the presentation slides. After submitting the form, you will receive a confirmation email containing links to view the video recordings for Webinars #1 and #2. Recording for sensitive session #3 with Mark Golan (Google) and Mark Zuckerberg’s video is unavailable at this time.


Webinar Series Q&A

As promised, below is a list of the questions we received during all the sessions with answers to those questions for your reference.

Virtual Office/Virtual Mail Questions

1) I don’t fully understand Virtual Offices. Is VO working from home?
Virtual Offices (VOs) are a combination of services that allow people the flexibility to work remotely while giving them access to services like a professional business address, digital mail, access to meeting rooms, or phone answering services. Many Virtual Office users work from home, but others may have a main office out of town and use a Virtual Office to establish a business identity at your coworking location. They may also access your meeting rooms and day offices from time-to-time, but their primary place of work is elsewhere. Check How to build a Virtual Office Business and also Don’t Leave your clients out in the cold which explains the value of a virtual office from the user perspective.

2) Why does Pacific Workplaces not charge a refundable security deposit for their Virtual Office Plans?
We waive the service deposit for VOs for users who pay monthly via credit card.  This lowers the barrier to entry and we prefer auto-pay via credit card as it’s a more streamlined way of receiving payments, and it’s more environmentally friendly than processing paper checks. 

3) How do you deal with collecting the CMRA 1583 form if people sign up via your website?
CloudVO does this for you and Pacific Workplaces follows the same process for its own locally generated VO plans.  As soon as someone signs up on the website, they are sent the PS 1583 (CMRA) form to complete and send back to us.  We also use NotaryCam’s online notary services to validate the ID documents they submitted.  Members are free to use their local notary if that’s what they prefer. Check Virtual Offices and US Postal Service Rules (CMRA) and How to Vet VO Clients.

4) What are the legal requirements for accepting mail for others, and what you have to do with the Post Office (if anything)?  Also, are there specific things you’d want in your VO membership agreements to cover opening others’ mail? 
CMRA stands for Commercial Mail Receiving Agent. You, the coworking location owner or manager, will complete a PS 1583-A form and take it to the post office, with applicable ID, and present it to the station manager or supervisor.  We use Spheremail in which our clients click a box asking us to scan their mail. We believe that the act of requesting this service gives us the authority to open the mail as we cannot scan the contents without opening. Check Virtual Offices and US Postal Service Rules (CMRA) and How to Vet VO Clients.

5) In relation to the CMRA 1583 Forms, do you send a quarterly report of recipients to the local postmaster? Is that even enforced?
The quarterly report requirement is rarely enforced, but some stations do expect that you comply with that requirement.  We would recommend keeping the documents in order to be in compliance on the chance that you are asked. Check Virtual Offices and US Postal Service Rules (CMRA) and How to Vet VO Clients.

6) Is there a cost for registering as a CMRA? 
There is no cost beyond your time spent at the post office … which some might consider under the heading “time that you can never get back!”  Also, feel free to explore this post which gives additional information regarding CMRA regulations.

7) Do you offer physical mailboxes for everyone?  Does every VO member get a physical mailbox with a key?
Pacific Workplaces has several locations that provide locked mailboxes, but some locations deliver mail directly to people’s offices or hold the mail in a locked file-cabinet for members to pick-up.  During this period of COVID-19, locked mailboxes where members can access mail themselves were greatly appreciated.  

The flip side to mailboxes is that they take up space and once you reach capacity, not everyone can have a mailbox.  In these cases, you can charge a premium for a mailbox.  Also, tracking and issuing mailbox keys to members can be a cumbersome process.  People lose the keys and then ask for a replacement.  

Many VO members will ask for their mail to be forwarded or scanned, then shredded (if you offer digital mail services which we highly recommend) which reduces the need for a mailbox.  Lastly, keep in mind that many VO members will never receive mail – they just use your business address. So you will have to decide if investing in mailboxes makes sense for your space. We recommend waiting until you start to have a significant volume of VO Plans before considering mailboxes.

8) What is the percentage of your users who purchase the phone answering option?

At Pacific Workplaces, 38% of the number of VO plans and 53% of full-time memberships include a phone answering service

Marketing

9) During the pandemic, what is an effective marketing strategy?
Focus on virtual offices whose demand has increased during the pandemic. Develop and publish a strong Health & Safety protocol. Be ready for corporate users upon re-entry. Use your channels to their full potential by listing your complete workplace offering with aggregators and marketplaces like CloudVO and Liquidspace.

10) What’s an effective way to market Virtual Office Plans?
Use Channels like CloudVO to access VO clients you would be unlikely to get otherwise. 72% of CloudVO VO clients live more than 10 miles away from their VO location and 31% live more than 100 miles away.

Make sure your VO offering is visible on your website and can be purchased online. Keith Warner, Pacific Workplaces VO guru, likes to systematically present his locations’ virtual office options to all prospects, including those who are looking for a full-time office. This is because people often don’t know about VO and you can sell a quasi-infinite number of VO plans whereas you have a finite number of private offices to sell. It is also a great solution for someone who cannot afford a private office.

11)  Do you see the coworking community shifting away from the word coworking?
Temporarily.  Terms like flexible office space, virtual office, and private office will be more popular. It’s a bit soon to tell, but for now, we are emphasizing Virtual Offices and Private Offices. As for coworking, publishing and emphasizing your Health and Safety Policy is key to help people feel safe within the community and space.

12) Do you recommend removing the words “coworking” and “shared” from websites? 
We haven’t removed those keywords altogether. We adjusted our H2 tags and updated alt text for images. But our page titles, URLs, and other metadata still include those keywords. We made virtual office and flexible office more prominent; however, as we navigate through re-entry, tags and alt text will be updated as needed. That will likely be reversed in a few months when terms like “coworking” and “shared” become not just more acceptable again, but also desirable as they were pre-COVID 19.

13) Should I invest in turning my event space into private offices so that I can market private space?
Possibly. We have found private offices to be profitable over the long haul.  Without knowing specifics, try to focus on a strong virtual office offering in unison with adding private office space and coworking which emphasizes social distancing and health and safety protocols. Event space will be harder to monetize. If you convert your event space into a private office, consider other spaces in your location that could hold events when they become popular again. For example, the business lounge/coworking space: could you move tables and hold an event there? Not as nice as a dedicated event space, but the combination of that and new inventory of private offices may generate much higher revenue.

14)  How do you get started with digital ads?
Digital ads can be costly, so start small with a single ad group, test bid strategies, and find a channel where you can reach the largest audience.

15) Is the CloudVO platform only for members or do operators have access as well?
The platform has two components. There is a partner portal for operators to add and update their listings, and the member portal allows members to view their dashboard, meeting room bookings, etc.  Partners can also view bookings, monthly statements, and monthly subscriptions in their dashboard.

16) Why are you charging lower commissions than DaVinci and more than e-brokers like Instant Offices?  How do you differ from web brokers like Instant Offices or SOS?
We are building a powerful technology platform that will make the relationship between CloudVO, Partner, and Client seamless. Not all the pieces are there yet, but we are close to achieving our objective. This enables us to run a very efficient business with lower margins on the VO and meeting room sides.

E-brokers typically charge a 10% commission for full-time offices. We also do retain 10% of the recurring revenue, but we are very different from a web broker in that we have a billing relationship with our clients, which may span across multiple locations, and we pay you when they use your services (Virtual Mail, Meeting Rooms, etc.) based on actual usage.

We invest heavily in advertising, in a corporate account infrastructure, and in operational and support capabilities. Our discount structure is needed to cover these costs and make a profit. We retain 25% on VO components and on meeting room bookings, and 50% on day offices and coworking day passes only. Like full-time offices, we retain 10% on monthly coworking memberships. Listing your space is free and you can complete the process in ten minutes.

17) What are some recommendations of must-have platforms?
It’s important that users have the ability to buy Virtual Offices and Coworking Memberships online.  You should also have an online meeting room booking platform as well.  Here are some providers to consider that know our industry well:  Nexudus, Office RND, Proximity, Yardi, Essensys, DeskWorks.

Operations/Space Management/Landlords

18) How are you handling meeting rooms during this pandemic?
Adjusting your meeting rooms to the new physical distancing rules of the pandemic is essential. For instance, our 12 person meeting rooms will only be set-up for 6 to 8 seats to help with distancing.  Staff will clean and sanitize the meeting rooms and equipment between reservations.  It’s important to communicate these modifications to your members, in your marketing messaging, and to your partners like CloudVO to help people understand that you’re doing all you can to keep your meeting rooms a safe working environment.

19) Post-lockdown, are you expecting to require larger blocks of time for reservations of day offices (in other words, not doing it by the hour)?
At the moment, we are not requiring larger blocks of time to be booked.  Members can book by the hour, although this may change depending on how things go when we are in full swing and re-open completely.

20) How are places dealing with part-time office bookings?
The ability for users to book a guest office or meeting online and in real-time is important.  If your local area is still sheltering in place, you should have an online meeting room platform that allows your members who fall into the “essential business” category, a way to book meeting rooms.  Once government agencies give the green light to re-open, we recommend making your guest offices and meeting rooms available for booking online.  Keep in mind that your offices and meeting rooms should be de-densified and set-up to meet social distancing best practices. Make sure that you don’t place unnecessary barriers, such as a minimum of half a day or a full day for a day office. Make them available by the hour. A minimum of 1 hour for a meeting room or a day office booking is reasonable.

Day offices work like a meeting room. They should be bookable online by the hour. The only difference is that you can use any vacant office as a day office if your dedicated day office is already booked. That helps with capacity management and users typically don’t care. Check out our Meeting Room White Paper for best practices on how to level-up your meeting room business.

21) Can you tell us if you recommend issuing new contracts to include new COVID-19 protocol clauses for members or would an addendum that your members sign suffice?
Pacific Workplaces and CloudVO standard agreements make reference to the member obligation to follow the house rules. This includes the Health & Safety Protocol of Pacific Workplaces or the protocol of CloudVO Partners. Partners should upload their Health & Safety protocol under their (or their building) house rules for the time being. Soon we will have a separate section of the CloudVO website to upload the Health & Safety Protocol and give it even more visibility on the website.

22) What questions are members asking in regard to safety & what should we be prepared for, outside of the obvious preparations?
Members want to know the changes being made to the space and precautions being taken which is why publishing a Health & Safety protocol and following through on them is so important.  You should be prepared for addressing  visitors who may not want to comply with your policies (i.e. someone comes into your space who does not want to wear a mask or refuses a temperature screening, etc.)  You should also have a plan for mitigating arguments among visitors.

23) Are the employees doing the cleaning or do people have cleaning companies doing it in between meetings?
At Pacific Workplaces, our team members are keeping up with the cleaning of high-touch areas after meeting and use of communal spaces. Having a cleaning or janitorial service in addition to that will vary from building to building. During this COVID-19 crisis, some members have asked for the janitors not to enter their office as they prefer to sanitize it themselves, which is fine.  Here is our health and safety policy: https://pacificworkplaces.com/coronavirus-health-and-safety-protocol/

24) How do we handle feedback from members saying they are ‘burned out’ on engagement via Zoom meetings and need more in-person interaction?
This is where your published Health & Safety protocols become so important as this is where you can communicate your plan on how you intend to set-up your meeting rooms for teams to collaborate in effectively and safely.

25) What are ways we can engage the community when we can’t have small gatherings and everyone is Zoomed out?
This is a tough one because what works in terms of engagement in one workspace community may not work in another. We think the answer comes down to just continuing to engage the community. Emails, texts, chat groups, and social media platforms provide a great opportunity for community leaders and members to connect individually. Keep inviting members to connect with each other. To that end, some non-Zoom ideas to consider:

  • Start a shared Google doc where you write a poem together
  • Invite people to share on a communal chat/open virtual space something that they’ve celebrated recently.
  • Start a social media thread of funny/cute videos and ask members to participate.
  • For gamers (they’re of all ages and walks of life!), play a co-op game together. Our favorites are WoW, Stardew Valley, and Animal Crossing.

26) Do you recommend shutting down coffee and water machines? 
Our sister company, Pacific Workplaces, has not shut them down completely but has made it so that only staff is allowed to make coffee to reduce the risk of exposure.  We are also using nanoseptic tape on surfaces to reduce contamination.  Most importantly, we have signage and a published health and safety policy that emphasizes the importance of handwashing, using sanitizer, and practicing diligent hygiene.

27) How do I deal with concerns about our HVAC system?
Ask your property manager what kind of filters they’ve added to the system.  Some do a better job at filtering germs and viruses than others. Ask if they have increased the airflow that also helps reduce the risk. Do your own research about contamination via HVAC so that you can be informed on what’s needed to keep your space as safe as possible.

28) What should I expect from my landlord and how do I go about negotiating?
Communicate regularly with your landlord.  Be transparent about your situation and manage their expectations.   Confirm any kind of verbal conversation via email to avoid misunderstandings. Set low expectations and communicate regularly.  It is always easier to manage good news than bad news. Keep in mind that landlords need you as much as you need them, and they don’t want you to leave.  

They will not have many alternatives in the COVID environment, and even post-COVID if the large corporation plans to embrace remote work materialize. Regarding negotiating, express what you need in terms of rent relief or any extensions in rent terms, and, depending on your collections, pay what you can. Dive to a realistic agreement on repayment of deferred rent. For example, if you had a total of 2 months’ rent deferred, it would not be realistic to agree on repayment over the following 12 months. Nobody knows how much pricing power you (or your landlord) will have upon re-entry. You can feel confident that the demand for flexible office space will thrive in the next couple of years, and that you might be able to go back to full occupancy fairly quickly, but the price points the market can bear will be more difficult to anticipate as we come out of a serious recession.  Think of this as an opportunity to educate your landlord on the nature of your business and its long term potential and build a relationship that will work well for both sides. The important takeaway is to get in front of it and deal with it.  Don’t avoid the conversation with your landlord.

Enterprise

29)  With many corporations allowing people to work remotely, how can coworking spaces attract the work from home (WFH) workforce?
It will depend upon the size of the company. The smaller the company, the more likely they will look for flex space to support  WFH. They might find your website, particularly if you have a landing page that specifically explains how you support remote work, presumably via a virtual office that includes a fixed number of hours of access to a day office or meeting rooms as we discussed in the first webinar. See related slide or the “How to add meeting room hours to your virtual office” article in the Resource Center. They might also find you through an aggregator like CloudVO. Larger corporations are less likely to search for individual locations on their own. They may occasionally let their employees do so, but if they have a more ambitious strategy around WFH, they are more likely to go to a trusted source like CloudVO that can handle their requirement in multiple locations across numerous geographical regions , identify suitable locations for their needs, and manage part of the process as an extension of their corporate staff.  See how CloudVO supports work-from home and distributed workforces in this article for end-users.

30) I have one single location in a remote midsize town. Do I have any chance to be considered?
Yes, and today more than ever. Think about what Facebook is likely going to do–they will be aggressive on allowing remote work but within a couple of hours driving from one of their hubs in the Bay Area, Denver, Atlanta, and Dallas. There is a lot of territory covered by a 2-hour radius around these cities. For example, centers in Greely, Fort Collins, and Colorado Springs (all medium-sized cities outside of Denver) might get their share of the demand. It is all going to be a function of where the employees empowered to WFH live. Some may want to live in Greeley because that’s where they are from and they still have family there. Others in Frisco to be closer to the mountains. That example applies everywhere, especially in the suburban areas and medium-size cities.

31) As more companies come to the realization that working from home yields satisfactory results and companies reach the conclusion that they may not need as large a footprint, will that result in an office space glut?  If so, what will the net impact be on the coworking/flex office space industry?
This is likely in the short-term, but in a period of crisis, it is not unusual for people to overreact. Mark Golan was very cautious about any prediction that would entirely break the mold. His experience with past crises told him that it is very possible that some companies will revert back to where they are today at some level, as corporations tend to have short memories.  The social and cultural functions of the corporate office may be back in fashion in the post-COVID world. The CEO of Twitter’s statement that all employees can work from home forever is extreme and likely not representative of the majority of companies. Mark’s personal opinion is that yes, there will likely be a softening of the downtown office market in expensive cities, but it’s too early to know how long that will last.

32) Is there a possibility that a company could provide a set budget for workspace, and let its employees choose their own space? 
It’s probably less likely to happen with high-tech companies for whom security considerations are essential. The idea of a voucher that employees can use as they see fit has been talked about for awhile, but has not taken off in any significant way. There is a need for organization and filtering of spaces that meet the corporate criteria. It is unlikely that large companies will let that happen without some control and coordination. Network Managers like CloudVO can provide effective support to large corporations with that process.

33) For spaces who are open and have policies for masks at all times, are people actually keeping their masks on all day?  Are members ok with this?
Many of our CloudVO Partners are requiring masks in all common areas.  The vast majority have members who are in compliance with this policy and follow the rules.  Most of our partners have masks on-hand to offer members and guests who enter the space without one.  For the few who do not want to wear masks, you can train your staff on how to handle these situations by letting people know that masks are a requirement not just for the coworking space, but due to an ordinance issued by local government agencies.  If they’re not comfortable with a mask on while working in the communal area, offer to book them a private meeting room or guest office where they can close the door and not wear a mask.

34) What’s the best way for individual operators to get connected with large enterprises?
It’s a challenge for small operators to get connected to large enterprise customers on their own. It would be too tedious for a large company to manage dozens or hundreds of individual providers. The way it will work is if they join an aggregator, like CloudVO, that provides a single point of contact and management of their network, but also establishes trust and credibility in their ability to filter locations that are acceptable to the enterprise client’s specific criteria.

35) How much of these work-related decisions will be driven by what employees want versus corporate goals?
Both. If employees drive a decision that makes them happy, but is not effective for the rest of their team, that is not going to work. By the same token, corporate goals around attraction and retention force them to take a more holistic view that incorporates the wishes and wants of their employees. It is a balancing act that will differ from company to company. It is fair to say that the trend over the last decade or so has been moving towards being more attentive to the desires of their workforce, but Mark Zuckerberg was also very clear that it works both ways. The trend towards some form of consumerization of the workplace is probably more applicable to smaller companies than to large corporations.

36) How should we expect Enterprise users to vet flexible office providers? More generally, what do you (Mark Golan) expect from us as an industry moving forward?
Vetting can be done through a trusted aggregator like CloudVO. Health and safety protocols, in the short term, have to be consistent with the health protocols of the Enterprise at their hub locations. This goes back to the importance of publishing health and safety protocols as a communication tool to members and prospects that also sets you up to host any large enterprise user. For high-tech companies, bandwidth and ability to segregate the hosted drop-in user or satellite space from other occupants in the space will be crucial.

37) Explain CloudTouchdown. If a corporate client uses my meeting rooms or day offices how do I get paid? How do credits work? How are credits established in my meeting rooms?
We pay you on the basis of actual usage of meeting rooms or day office hours used in your location at the discounted rate indicated in the Partner Portal (25% less than your published rate for meeting rooms, 50% for day offices). Credits can be redeemed for hours of day offices and meeting rooms. Typically one credit = one hour of day office. More credits are usually needed for larger meeting rooms. The credits are assigned by CloudVO for all rooms in the network, according to expected user behavior using statistical analysis and Artificial IntelligenceI. Whether your room is assigned 2 credits or 4 credits does not make any difference to you. If an end-user books 2 hours of that room, you will be paid 2 hours at the discounted rate. You don’t have to worry about credits. See how Cloud VO supports work-from home and distributed workforces in this article for end-users.

38) Mark Golan comment on whether the CloudTouchdown Pass was helpful for Enterprise users:
To the extent that CloudVO reduces the risk associated with the use of flex space by individual users, vets locations for suitability to the corporation requirements, provides a fixed budget per user per month and removes financial uncertainty, the CloudTouchdown program is very helpful. Also large corporations are not going to want to manage relationships with dozens of independent providers and knowing the single point of procurement and who to negotiate a contract with is important.

We’re here to help coworking space operators ease into the “New Normal.” Partner with us today. Listing is free. Go to www.CloudVO.com to join.


About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide for mobile workers and distributed workforces under a subscription model or on a pay-per-use basis.Share the knowledge!




How Many Meeting Rooms Should You Have? A Meeting Room Guide for Flexible Office Space Operators

In this series, we will extract some of the data we published in our 2019 Meeting Room White Paper and dig deeper on our analysis.

Meeting Rooms are an indispensable amenity in any coworking space for three main reasons:

  1. Members need them for their own meeting requirements, both planned and sometimes impromptu
  2. Meeting rooms are an important revenue center, and a very profitable one at that
  3. Hosting meetings in your coworking space draws very desirable traffic that may convert into membership

What’s important to full-time members is that the meeting rooms are there and accessible when they need to host a meeting that cannot be accommodated in their office. Everyone likes “free,” but the availability of the rooms are more important than the price.

This is important to realize because the opportunity to monetize the meeting rooms outside of your membership is significant.

If you have a coworking space with 50 to 200 members, maintaining two meeting rooms and one day office is the bare minimum to provide the level of service that shared office space members expect. Many centers, particularly those with a healthy virtual office business, will have 5 and sometimes 10 or more meeting rooms and day offices.

The average number of meeting rooms in the U.S. is 3.5 per location, with 25% at 4 meeting rooms or more. As a reminder, these statistics come from analyzing the CloudVO inventory of 2,500 meeting rooms published on CloudVO.com, out of 700 partners worldwide with two-thirds of them in the United States. In some cases, operators do not publish all their inventory for online bookings which may slightly under estimate the true inventory numbers.

Meeting Room Data for Coworking Spaces | Number of Meeting Rooms | CloudVO

Monetizing Meeting Rooms is Too Important to Ignore

Whereas some free access to meeting rooms for full-time members can be a good idea, the opportunity cost associated with “free” is very high and the ability to monetize the rooms to outside visitors is too important to ignore. A better idea is to make them available to the public at large, and market them via resellers such as CloudVO as well as via your own local marketing efforts.

Pacific Workplaces estimates that the revenue generated by its meeting rooms (over 100 rooms in 20 locations) is 125% to 300% what it could generate by converting the rooms as full-time offices instead. The larger the room, the bigger the opportunity cost. Hence, it pays to have an aggressive meeting room profit center strategy as many CloudVO partners have found.

Over the last 10 years, we have seen a drastic reduction in ‘free’ meeting room hours provided to full-time members by operators, and a significant increase in meeting rooms available online via resellers such as CloudVO, Liquidspace, or DaVinci.

Use your Vacant Offices as Temporary Day Offices

Unlike WeWork, Regus has a healthy Virtual Office and Meeting Room business. We undertook a comprehensive comparison of their meeting room inventory, available for online bookings, with that of independent operators. It is interesting to see that Regus tends to maintain fewer larger- sized meeting rooms than independent operators, but many more rooms classified as “day offices.” This is because Regus will systematically list vacant offices as “day offices” and make them available to Virtual Office clients and “off-the-street” bookings.

They can also work as overflow for full-time members when the dedicated meeting rooms are full. We think this approach is a best practice that independent operators should emulate. Many IT platforms such as Yardi KUBE, Essensys, or DeskWorks will support the automatic listing of a vacant office as a free office, adding to your inventory of rooms that can be monetized as a meeting room until it’s leased again to a full-time client. The CloudVO platform integrates with many of the prevalent IT coworking platforms, which will enable us to market the available slots in your meeting room calendar and give end-users a seamless experience.

Meeting Room Data USA Coworking Spaces Average Rooms per Location | CloudVO

If you need assistance on how to monetize your vacant offices as day offices until they are leased to a full-time member again, do not hesitate to reach out to us.


About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide for mobile workers and distributed workforces under a subscription model or on a pay-per-use basis.

The Best Resources for Flexible Office Space Operators in 2019

Best Resources for Flexible Office Space Operators in 2019 | CloudVO

It’s hard to believe 2019 is coming to a wrap and we hope our CloudVO partners and friends have benefitted from the resources we’ve provided throughout the year. If you’ve missed anything, we’ve made it easy for you! Check out our top ten resources for Coworking Space Operators in 2019.

1) How To Build A Healthy Virtual Office Business

How To Build a Healthy Virtual Office Business Profitability Data | CloudVO

This downloadable Free Guide for coworking operators walks you step-by-step on what it takes to start and grow a successful Virtual Office business in your coworking space, sharing data and recommendations from a best-in-class operator.

2) 8 Steps to Create a Profitable Coworking Space – eBook on Amazon

8 Steps to Creating a Profitable Coworking Space | Jamie Russo Everything Coworking

Jamie Russo, the Executive Director of the Global Workplace Association and founder of Enerspace Coworking, has published an e-book available for free on Amazon to guide newcomers to the industry on how to set up a coworking space. A well done, comprehensive guide to help coworking entrepreneurs on their journey to success!


3) Big Dive on Coworking Financial Metrics

Coworking Space Financials Deep Dive | CloudVO

This downloadable presentation is a recent update to the material our CEO, Laurent Dhollande, used at a Global Workplace Association webinar in May, which was the most attended webinar in GWA recent history. This update includes the original presentation, but with more comprehensive metrics used by Pacific Workplaces and Nextspace coworking.

4) How to Prevent Burnout when planning Coworking Events

Coworking Events and Tips to prevent Burnout | CloudVO

In this article, Cat Johnson picks the brain of Maya Delano, NextSpace Santa Cruz Community Manager, who shares 9 tips on how to organize rich events in your coworking space without burnout.

5) 2019 Meeting Room White Paper

Meeting Room White Paper 2019 Hourly Prices Per Room Size All Operators in United States

This comprehensive survey captured and analyzed the pricing of Day Offices and Meeting Rooms across the US available for booking by coworking and flexible office space locations. It covers how independent operators compare with Regus, and reviews optimum pricing, utilization rates, and best-in-class performances.

6) Instagram Marketing: An Introduction for Coworking Spaces

Instagram Marketing for Coworking Space Operators | Cat Johnson Coworking Content Training

In this joint training hosted by Coworking Content founder Cat Johnson, CloudVO Director of Marketing, Karina Patel, shows space operators how to leverage Instagram to strengthen your brand, generate leads, and attract members. Best training class on Instagram for coworking and way worth the $59 price!

7) How to Reinvent Your Marketing Strategy

CloudVO Blog Reinvent Your Coworking Space Marketing Strategy

In this post, Cat Johnson speaks with David Middleton, Vice President at YourOffice, who looked for help when his brand needed a shift to their marketing approach. That led to these 9 tips to help rejuvinate and streamline your marketing strategy.

8) New Ways of Work for Attorneys with Legal Virtual Offices

Virtual Office Plans for Attorneys | Pacific Workplaces

This article by Pacific Workplaces, is an example of how space operators can market to a specific profession. The post focuses on attorneys, historically avid users of shared office space, but operators can use this as a guide to offer someting special to any industry they choose to target.

9) Instagram Stories: An Introduction for Coworking Space Operators

CloudVO Tips on Instagram Stories for Coworking Operators

Best practices on how to leverage Instagram Stories to effectively market your coworking space. Instagram Stories are unique since they have a 24-hour shelf-life and offer specific tools to encourage engagement. Operators learn how to effectively use Stories to promote events and in-the-moment content to showcase your unique community.

10) 6 Telltale Signs It’s Time to Update your Coworking Space Website

CloudVO Blog 6 signs you need to update your coworking website

Wondering if your coworking website needs a refresh? Read this article which offers 6 clues that it may be time for a makeover.


About CloudVO

CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide for mobile workers and distributed workforces under a subscription model or on a pay-per-use basis.

How To Build a Healthy Virtual Office Business: A Guide for Coworking Operators

Keith Warner, with Pacific Workplaces (Pac), often mentions that his Cupertino, CA location supports 400 Virtual Office Plans that collectively generated enough revenue to pay the (high) rent for his entire 18,000 square foot flexible office location. This comment attracted a lot of attention and questions from coworking operators who asked how they could also build a healthy virtual office business. This guide is our attempt to answer those questions.

Virtual Office Plans San Francisco, CA | Pacific Workplaces

Tell us a bit about yourself before downloading a copy of this guide to keep as a resource.

Step 1: Set up a Mail Service Business

A mail plan is the first step for a client to set up a business identity at your location. This means they can use your coworking location address to receive mail, use it on their web site and other marketing collateral.

The motivations can be multifold. Many people working from home do not want to use a home address as their main business address. Some businesses located remotely may want to show geographical coverage of multiple locations. For example, this may be in response to the requirements of cities and counties to work with contractors that have a local presence.

In this case, the minimum you need to do is to receive their mail and store it in a location they can retrieve. Some operators store mail in a file cabinet and rely on the front desk person for the mail client to retrieve their mail during business hours. Others may use mailboxes, which may or may not be available to clients outside of business hours.

What’s good about a new VO mail business is that it happens incrementally – say a couple to a handful of new clients every month, and can be supported without additional resources than those necessary to run the coworking operation.  In fact, with the proper organization, a location can support over 100 VO mail clients without additional staff than is necessary to support most standard coworking operations.

You can also list your mail plan on a web site like CloudVO.com and leverage its marketing capabilities without investing a penny in any digital VO advertising. This is a great way to get started. There is no cost to list, only a 25% discount provided on the plans purchased by CloudVO.

Mail service is your first and easiest step to be in the VO business.

Step 2: Provide Phone Answering Services

While a mail plan is the first necessary step for your clients to establish a local business identity, adding a local phone number and live phone answering to that plan helps them project a much stronger image, particularly when it is a remote company that needs to show it operates in your local market.

Does this mean you need to plan for additional staffing resources answering the phone from the front desk? No. It is not best practice to answer your clients’ incoming phone calls from the front desk. In fact, doing so can lead to poor customer service. For example, if a member comes to you with a question while you are on the phone in an involved conversation, who do you put on hold, the person on the phone or your member in the lobby? Either way, the quality of service provided to one will make the other suffer, as one of the two will have to wait. The best practice is for the front desk person to focus on member management, operations, and perhaps providing tours, not answering calls.

If you don’t have the scale to build your own answering center (and most operators don’t), there is an easier, more cost-effective solution to that quandary: outsource your phone answering to the CloudAnswering services of CloudVO.  It’s easy, does not involve upfront costs, and provides very good margins.

In this case, your VO member is provided a local phone number of any area code they choose, CloudVO does the installation of the number, sets up their voicemail and call patching, configures your member’s email or text notification of messages and even automatic voice-to-text transcription, if they choose.  All of this is done off-site and you are just billed per user (much less than hiring, training and managing your own answering staff).

Step 3: Add Meeting Room Hours

While the opportunity cost of idle meeting rooms can be expensive, the unavailability or difficulty of booking can be equally detrimental.  Members must have the ability to book a meeting room easily online, and preferably have a variety of choices to meet their needs.

The ease and availability of booking will impact (positively or negatively) your ability to sell and retain virtual office members even more than private office and coworking members, but those other member types are also a big consideration in the type and number of meeting rooms one provides.  Any member that can’t get the room they want, when they want it, just a couple of times in a row, will start to look for alternative space (and probably not even mention to you why they are leaving).

A minimum of 2 meeting rooms and 1 day office is recommended, but keep in mind, any vacant private office should be made available as a temporary day office.

It’s important to constantly monitor the usage to determine whether you need to add additional meeting rooms.  Pacific Workplaces has found that once a room is accommodating 100 hours or more of reservations, it starts to feel “full.” In other words, at 100+ hours per month per room, the members will start to have trouble easily booking times they need and you’ll start to get complaints.  If you have 3 meeting rooms and you are consistently booking 350 hours per month, it’s time to start looking for a full-time office you can pull out of inventory and convert to your next meeting room.

Eliminating a full-time office and the consistent revenue associated with it may seem unwise at first, but Pac has found that each meeting room typically provides 125-300% of the revenue that same room would generate if it were left as a private office.  In fact, each added meeting room can easily support an additional 20-25 VO members (at $200-350 each).

While large boardrooms are nice to accommodate meetings of 14-18 people, you’ll probably find over time there aren’t very many meetings of that size, so that huge beautiful room is mostly wasted.  Pac has found most demand to be in the 4-6 seat range, and 30-40% to just be for 1-on-1 meetings. 

But keep in mind, if your plans include a number of HOURS in any room, your members will gladly book the 18 seat boardroom for their 1-on-1 meetings – this is why some shared workspaces have switched to a CREDIT system.  Workspaces using credits, like Pac, include a number of meeting room credits in their plans, and then assign a number of credits per hour to each room. Day offices are always 1 credit per hour, but members are “charged” 2 or 3, sometimes up to 5 credits per hour for the larger rooms.  This new system assigns a proper value to each room and provides incentive for members to book appropriately sized rooms, thus leaving the larger rooms for those that actually need them (and are willing to spend the necessary credits).

Step 4: Market your plans locally and beyond

Include virtual office solutions in all your marketing efforts.  It’s even more important than marketing private offices – you’re going to fill up the offices, but you’ll never run out of VO capacity!

Of utmost importance is the optimization of your website for virtual office and VO related terms.  Some examples include developing even small paragraphs around these terms:

Virtual office, virtual office space, what is a virtual office, what are virtual office services, how virtual office works, how to setup virtual office, virtual office address, business address, virtual mailbox, digital mailbox. For more impact, you can also add the city to these keywords, such as virtual office in [city], [city] virtual office space, [city] business address, etc.

The ability to sell virtual offices on your website is a must.  Have a reputable e-commerce web developer set you up or talk to Yardi KUBE, a shared workspace solution provider and member of the Global Workspace Association. They have a proven online sales module that will work with any website.

Systematically educate all prospects on your virtual office offerings.  Whether they email you asking questions, or stop in for a tour, make sure everyone you communicate with knows what a virtual office plan is and why they might need one (down the road if not today). 

Sign up with a reputable channel partner such as CloudVO.  CloudVO does the national marketing you probably won’t do, and has relationships with enterprise companies looking for touchdown space in multiple cities.

Step 5: Manage your VO business effectively

At first the incremental resources necessary to support a VO business are very small. Having less than 50 mail plans to support does not necessitate more staff. Remember that most users don’t get mail everyday. Some VO clients almost never get mail, but will use only your local address and perhaps a local phone number on their website.

Only when you get over 75 VO clients will you need to give serious thoughts about optimizing your VO operation. By then, you should be generating more than $10k of incremental revenue per month.

Pacific Workplaces averages around 150 VO plans per location, at an average of $140 per month of revenue per plan. That’s more than $20k of total VO revenue per month. The Cupertino location supports over 400 VO plans, enough to pay for the (very expensive) rent of this 18,000 square foot coworking space!

Pacific Workplaces has made the effort to capture the staff time associated with supporting VO clients for a full month, such as answering emails from VO prospects or clients, walking them through options, on-boarding new members, helping them set up their phone system if the plan included phone services, handling their mail after they move in, helping them book a room occasionally, preparing and sending their invoice, chatting with them on any topic when they come by, as well as allocating time spent on general center maintenance tasks to all members (e.g. kitchen duties), etc. That comprehensive effort captured the time spent by the staff, literally second by second, for a full month and re-allocated it to each category of clients and individual plans.

We then converted that data into dollars, considering the fully loaded payroll cost for the time spent supporting VO clients, factoring the opportunity cost of meeting room usage when the VO plan included free hours of meeting rooms, the cost of answering calls (outsourced to CloudVO), the opportunity cost of a mail room that could be converted into office space, and more.

The results are pretty amazing: on average, it costs less than $7 per plan of staff time to support a Mail Plan! The VO business is Pacific Workplaces most profitable line of business!

These numbers may seem low, but they are real. Our perspective is often biased by the occasional heavy user, or that guy that likes to hang around and chat with the staff while picking up his mail. But you have to remind yourself that this guy is an out layer, and the burden he represents is more than offset by the many silent VO clients you never see, you rarely hear from, and for whom you receive mail very rarely.

How To Build a Healthy Virtual Office Business Staff Resources Data | CloudVO
How To Build a Healthy Virtual Office Business Profitability Data | CloudVO

These slides were part of the Deep Dive on Financial Metrics webinar. For more details, go here.

Join our global network of nearly 1,000 flex workspace operators at www.CloudVO.com. Listing is free!


About CloudVO

CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at 750 locations worldwide for mobile workers and distributed workforces under a subscription model or on a pay-per-use basis.



CloudVO City Guide: Boca Raton, FL

In today’s CloudVO City Guide, we are taking a closer look at some of our shared workspaces in Boca Raton, Florida. Boca Raton is the southernmost city in Palm Beach County, Florida. It is known as a business center, one of the wealthiest communities in South Florida and experiences significant daytime population increases. This makes it a prime location to conduct business meetings or obtain a professional business address.

CloudVO City Guide Boca Raton Florida

CloudVO partner, Zen Offices Boca Raton, offers Virtual Offices and Meeting Rooms in the prestigious Bank of America Tower on the penthouse floor. It features panoramic views of the coastline and affluent coastal neighborhoods, an impressive boardroom overlooking the gorgeous beaches in Boca, and offices with stunning views of Mizner Park and Royal Palm Place. This shared workspace is sure to awe your clients and give a lasting professional impression.

CloudVO Partner Zen Offices Boca Raton Florida

CloudVO partner, Boca Office Center, provides Virtual Offices and Meeting Rooms in a Class A facility on Congress Avenue. This shared workspace offers small companies and professionals a way to have a stunning office presence at a fraction of what a traditional office would cost. With a Virtual Office, you’ll gain access to professional mail and phone services in addition to a luxury space complete with meeting rooms, a document center and more. This space is sure to meet your business needs.

CloudVO Partner Boca Office Center Boca Raton Florida

Another partner, TDL Centers West Boca Raton, has Virtual Offices and Meeting Rooms that are prestigious and professional. This space is a great place to have your business meetings, or to have a virtual office to receive mail and a professional business address. Boca Raton- West Palmetto is ideally located within walking distance to coffee shops, restaurants, and shopping.

CloudVO Partner TDL Centers West Boca Raton Florida

CloudVO partner, TDL Centers East Boca Raton, provides Virtual Offices and Meeting Rooms that are conveniently located two minutes off of Interstate 95 and within 30 minutes of the West Palm Beach, Fort Lauderdale, and Boca Executive Airports. It’s the perfect location to touch down and have a meeting. This prestigious shared workspace is the largest Class A Building in all of South Florida, so it’s sure to impress.

CloudVO Partner TDL Centers East Boca Raton Florida

Another partner, Quest Workspaces Boca Raton, offers Virtual Offices and Meeting Rooms in a prominent location with exceptional service, total flexibility, and quality design making this a great place to work. This shared workspace merges modern edge with elegant and traditional Boca Raton style. Nestled in the affluent city at the intersection of Glades Road and Federal Highway, the 1200 Corporate Place building is truly South Florida’s “crown jewel” of office locations.

CloudVO Partner Quest Workspaces Boca Raton Florida

CloudVO partner, CendynSPACES- Boca Raton provides Virtual Offices and Meeting Rooms ideally located east of I-95 in downtown at 980 N. Federal Highway, between Glades Road and Palmetto Park Road. It’s in a very convenient location if you have a business lunch or dinner as it’s within walking-distance to upscale shopping and dining. It’s also two blocks from Mizner Park.

CloudVO Partner Cendyn Spaces Boca Raton Florida

If you’re planning on staying in a nearby hotel, here are a few of the noteworthy places to check out in the area. The Boca Raton Marriott at Boca Center is a casual hotel with a stylish café/bar and an outdoor pool, hot tub and fitness center. The Renaissance Boca Raton Hotel is a refined property offering relaxed rooms and mediterranean fine dining, plus a pool and hot tub. For a more upscale option, The Boca Raton Resort and Club, A Waldorf Astoria Resort, is a beachy vibe with high-end rooms and suites, plus dining, spa, golf, and pools.

CloudVO City Guide Boca Raton Florida Waldorf Astoria
Photo credit: Waldorf Astoria

The affluent city of Boca Raton is known as a great place to do business. So, whether you’re there for a business meeting or looking to add a prestigious business address to your portfolio, we have a multitude of great options. Virtual Office plans are available at all of the aforementioned partner locations and offer standard mail services, sophisticated meeting rooms, as well as use of the business address with options to add live phone answering services.


About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO grants preferential access to day offices, coworking space, and professional meeting rooms in 700 locations worldwide for distributed workers on a subscription or a pay-per-use basis.



CloudVO City Guide: Orlando, FL

Orlando, Florida is best known for its world-famous theme parks, shopping malls, golf courses, nightlife, and beaches. If you head away from the theme parks you’ll discover Downtown Orlando, the largest urban center in Central Florida. The metro area has experienced extraordinary growth in the past decade which makes it a great place to conduct business or add an Orlando business address to your portfolio. We are taking a closer look at some of our Virtual Office and Meeting Room spaces in Orlando. 

CloudVO City Guide Orlando Florida

CloudVO partner, Executive Office Suites of Baldwin Park- Orlando is a state-of-the-art shared workspace which offers Virtual Offices and Meeting Rooms with all of the amenities you need to run your business. From a mailing address and answering service, to meeting space and video conferencing, Executive Office Suites of Baldwin Park will give you the professional image and office services you need at an ideal location near plenty of shops and restaurants.

CloudVO Partner Executive Office Suites of Baldwin Park Meeting Rooms Orlando Florida

Another CloudVO partner, Execu-Suites Downtown Orlando offers Virtual Offices and Meeting Rooms and is situated in the historic Angebilt Building close to Wachovia Bank, City Hall, and State and Federal Buildings. This Orlando workspace is centrally located in downtown Orlando just minutes away from Orlando International Airport. Business professionals utilizing this space enjoy covered parking and being within walking distance to shopping and restaurants. World-renowned entertainment in the area includes Epcot, Walt Disney World, MGM Studios, and Universal Studios.

CloudVO Partner Execu-Suites Downtown Orlando Meeting Rooms

CloudVO partner, Your Office Orlando has Virtual Offices and Meeting Rooms in downtown Orlando located in a state-of-the-art facility. With convenient and easy access to courthouses, City Hall, restaurants and hotels, this is the ideal location for any business. Take your business to the next level with this premier business address.

CloudVO Partner Your Office Orlando Florida

Another partner, Orlando Office Center Millenia, provides Virtual Offices and Meeting Rooms situated in a modern building with access to a multitude of shops and restaurants being that it’s located near the upscale Millenia Mall area. Minutes from the I-4 turnpike, this location is ideally situated with easy access to both Orlando and Florida as a whole. This space would be great for startups or small businesses.

CloudVO Partner Orlando Office Center Millenia Day Office

If you’re planning to stay in Orlando and need hotel accommodations, here are some of the most popular in the area. DoubleTree by Hilton Orlando is a casual hotel in a great location with easy access to freeways. Hilton Orlando offers modern rooms and suites in an upmarket hotel and features four restaurants and is close to a lot of the activities Orlando has to offer. The Hyatt Regency Orlando International Airport provides upscale modern rooms.

CloudVO City Guide Orlando Florida Hyatt Regency

Whether you are in Orlando for a business meeting or looking to acquire a professional Orlando business address, we have many options that are suitable for your needs. Virtual Office plans are available at all of the aforementioned partner locations and offer standard mail services, sophisticated meeting rooms, as well as use of the business address with options to add live phone answering services.


About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO grants preferential access to day offices, coworking space, and professional meeting rooms in 700 locations worldwide for distributed workers on a subscription or a pay-per-use basis.


CloudVO City Guide: Miami, FL

Miami is the cultural, economic and financial center of South Florida. It’s also the most populous county in Florida and is known for being a major center and leader in finance, commerce, culture, media, entertainment, the arts, and international trade. All in all, this is a great place to run your business, hold business meetings, or add a professional address to your portfolio. Take a closer look at some of our shared workspaces in Miami with great options for Virtual Offices and Meeting Rooms.

CloudVO City Guide Miami-Florida

Downtown Miami

CloudVO partner, Capital Business Center, provides Virtual Offices and Meeting Rooms found in the heart of Miami’s Downtown area on the Famous Brickell Avenue. This shared workspace is the perfect location for any company. It has convenient access to public transportation and is centrally located. It’s a great shared workspace for business meetings or lunches because it’s in close proximity to numerous dining and entertainment options as well as a plethora of high-end hotels.

CloudVO City Guide Capital Business Center Miami

Another CloudVO partner, Quest Workspaces 1395 Brickell, is located downtown on the world-famous Brickell Avenue in the heart of Miami. This space boasts Virtual Offices and Meeting Rooms with great views. Found in the Class A Espirito Santo Building, this virtual office space is surrounded by fine dining options, restaurants and shops.

CloudVO City Guide Quest Workspaces Brickell Avenue Miami

CloudVO partner, Quest Workspaces 777 Brickell, offers Virtual Offices and Meeting Rooms where you’ll only pay for the office time or meeting room hours you need but still receive all the perks. This workspace solution is perfect for start-ups, home-based businesses, or those expanding to new markets. This workspace is ideally located near a plethora of restaurants and shops only minutes from the water.

CloudVO City Guide Quest Workspaces Meeting Room 777 Brickell Miami

Flagler Street

CloudVO partner, Starthub has Virtual Offices and Meeting Rooms located on Flagler Street off of I-95. This location boasts a professional atmosphere and services, a conference room, and coworking space to help accommodate all your business needs. There are a variety of dining, retail, and entertainment options in the immediate area.

CloudVO City Guide Partner Starthub Miami

Another CloudVO partner, Next Workspaces, has Virtual Offices and Meeting Rooms that feature a stylish design and great pricing combined with great service. This is a great option for startups or small businesses. This workspace is ideally located in Miami’s financial district within walking distance to several local bars and cafes.

CloudVO City Guide Partner Next Workspaces Miami

Northern Miami

CloudVO partner, Empire Executive Offices, offers upscale Virtual Offices with an abundance of business options for your benefit. Everything you need to run your business smoothly is readily available. This location has free onsite parking with easy access to I-95 and the Florida Turnpike.

CloudVO City Guide Partner Empire Executive Offices Miami

Goldbetter provides Virtual Offices in an ideally situated park-like setting that’s minutes from major roadways, sporting venues, shopping centers and entertainment attractions. This is the perfect location for a business that requires a Miami-Dade presence.

CloudVO City Guide Partner Goldbetter Miami

Central Miami

CloudVO partner, Latitude One offers Virtual Offices and Meeting Rooms fantastically located in the center of Miami. This means that Miami International Airport is only 7 miles away and there is easy access to major landmarks like the American Airlines Arena. In addition, there is a unique selection of boutique shopping and fantastic dining. This is the perfect location if you need to conduct business and also entertain.

CloudVO City Guide Partner Latitude One Miami

If you’re planning to stay in the area, here are a few of the most popular hotels. For a more budget friendly option, the Miami Marriott Biscayne Bay offers classic rooms and suites right on the water. The Kimpton EPIC is a 4-star polished hotel in a high-rise that offers plush rooms plus free wine hours. For more upscale options there is the Ritz-Carlton Coconut Grove and the Four Seasons Miami that both offer refined rooms and stunning bay views.

CloudVO City Guide Miami Biscayne Bay

Miami is a hub for international trade, business, and culture making it a prime location for business. So when it comes to your professional business needs, CloudVO has an array of great options for you. Virtual Office plans are available at all of the aforementioned locations and offer professional meeting rooms, digital mail services, as well as the use of a business address with options to add live phone answering services.


About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO grants preferential access to day offices, coworking space, and professional meeting rooms in 700 locations worldwide for distributed workers on a subscription or a pay-per-use basis.



CloudVO City Guide: Austin, Texas

CloudVO’s City Guide Series continues. Today, we are highlighting our partner location, Executive Workspace (EWS), located in Austin, Texas. Austin is not only the capital of the state of Texas, but it is also known for being the live music capital of the world, home of the Longhorns, The University of Texas, and so much more. We are excited to share more details about these workspaces in Austin, since the CloudVO team is heading to Austin in September for the 2018 FlexOffice Conference! If you are also heading to the conference and are planning to stay an extra few days in the city and need a space to work, be sure to check out these shared workspaces.

CloudVO partner, Executive Workspace, offers a professional, ready-to-work environment, prestigious business address, featuring  fully-equipped meeting rooms and private day offices with high-speed internet. These spaces also offer a friendly administrative team to greet your guests and receive mail and packages, and a community lounge serving coffee, tea, and water. They are equipped with all the amenities necessary for promoting success in a workspace.

CloudVO Partner Executive Workspace in Austin Texas

Luckily, we had a chance to hear first hand from Nick, the Executive Workspaces Austin regional director about these spaces. “One of the, many ☺, great things about Executive Workspace is that we will customize your office needs to fit you. We won’t charge you for services that you don’t intend on using; but we have so many services to choose from! Memberships, phones, mail options, custom office build outs, day office rates, private offices, group offices, conference rooms…. We can do it all.

Our locations are each unique to themselves but have a great culture. Downtown is right in the thick of things. Many of our clients walk or bike to work. It’s a fun floor and everyone gets along. We have people who have officed there for 10+ years, and some who are just starting. One of the great things we see that I really think embodies Austin, is that the clients all help each other. Many end up referring business to one another, or will talk shop in the break room. Our Wild Basin location is beautiful. It’s modern, clean, and some offices have their own private balconies. The building has a live forest and creek in the atrium! If that doesn’t sound like Austin, well, it sounds like Austin.

For me, Austin is a community of friendly people, including business people. Everyone is willing to sit down and have a cup of coffee and discuss what partnerships we can create. I love that about this city. It’s vibrant, innovative and active. My family and I kayak every weekend; this place is beautiful. EWS is creating something to match that culture and environment.”

If Nick doesn’t have you ready to move your business to Austin, here are some more facts: There are two Executive Workspace locations offering virtual office plans and meeting rooms in Austin- Wild Basin and Downtown. All of the meeting rooms available are furnished, beautifully decorated, and include complimentary beverages for you and your guests. These meeting rooms provide a quiet, collaborative environment to host your next meeting, conference, or training session. Other resourceful amenities include Wi-Fi, whiteboards and projectors, state-of-the-art technology and video conferencing equipment.

As we heard from Nick, Wild Basin offers excellent Virtual Office Plans and Meeting Rooms, located in the West Lake Hills across from The Wild Basin Wilderness Preserve in Austin, Texas. Highway 360 is also easily accessible from the Wild Basin location which makes it an ideal spot for anyone traveling to the area due to its convenience.

CloudVO Partner Executive Workspace Wild Basin Meeting Room Austin Texas

Located in the heart of Austin’s Central Business District, the downtown location also offers Virtual Offices and Meeting Rooms and is just a few blocks from the Texas State Capitol. This beautiful Austin Virtual Office is an ideal location for anyone wanting a business presence in downtown Austin. Within walking distance is the Courthouse, fine dining restaurants and everything else that downtown Austin has to offer.

CloudVO Partner Executive Workspace Downtown Austin Central Business District

For breakfast and lunch, Bird Bird Biscuit is a fast-casual breakfast- and lunch -only biscuit spot with savory and sweet options. This spot is very unique and Instagram-worthy. For dinner, Arlo Grey is an in-hotel, lakeside eatery that’s open everyday from 5-10PM. This debut restaurant from Top Chef’s Season 10 winner Kristen Kish features her fresh take on classic dishes and techniques using Texas ingredients.

CloudVO City Guide Austin Texas Bird Bird Biscuit

Join the CloudVO team at the Hyatt Regency in Austin for the 2018 FlexOffice Conference. This is a sophisticated hotel on Lady Bird Lake that offers an exceptional location near SoCo, 6th Street and Downtown. The Omni Austin Hotel Downtown is another great option that offers modern comfort and luxury amenities. With either hotel, you’ll be in close proximity to the conference action.  If you are planning to attend, be sure to stop by and say hello to the CloudVO team at our booth!

CloudVO City Guide Austin Texas Hyatt Regency Site of 2018 FlexOffice Conference

About CloudVO

CloudVO is the umbrella brand of Cloud Officing Corp, headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the  CloudMeetingRooms.com  and  CloudVirtualOffice.com  e-commerce sites and grants preferential access to day offices, coworking space, and professional meeting rooms in 700 locations worldwide for distributed workers on a subscription or a pay-per-use basis.

With WeWork’s Valuation at $10 billion, When Will The Workspace-as-a-Service Industry Reach $1 Trillion?

Is WeWork worth $10 billion? The answer is clearly yes for Fidelity Management & Research Co and other repeat investors who have invested $400 million in the company, making WeWork’s valuation roughly $10 billion, according to the Wall Street Journal and MorningStar.

Is WeWork worth $10 billion? The answer is clearly yes for Fidelity Management & Research Co and other repeat investors who have invested $400 million in the company, making WeWork’s valuation roughly $10 billion, according to the Wall Street Journal and MorningStar.

Ten billion is four times as much as Regus’ current market capitalization. When WeWork was valued at twice Regus’ just a few months ago, I wrote: “pretty impressive for a 4 year-old company that is surfing the coworking wave exceptionally well. We can only watch in awe.”

WeWork Cofounders
WeWork Cofounders, Miguel McKelvey and Adam Neumann
Now we need to look outside of the shared office industry to get a sense for the enormity of this achievement.

Ten billion is more than half the valuation of the largest publicly traded office landlord in the U.S., Boston Properties. When considering that WeWork leases 3.5 million squarefeet of office space, while Boston Properties owns 45 million square feet, it is clear that we are comparing apples and oranges, and that the main value here is not in bricks & mortar.

WeWork is not valued by its investors as a real estate firm. Rather, it is valued as a company that will disrupt traditional real estate. In the same way that Uber is not valued as a taxi company, but as a company that disrupts taxis. Or in the same way that AirBnB is not valued like a hotel, or like a simple reservation system, but as a company that disrupts the traditional lodging supply chain.

Landlords beware! Your world is changing.

The Morningstar article indicates that the WeWork valuation was about 100 times its operating income. This would suggest an operating profit of ~$100 million, or $28 per square foot per year. Most observers of the shared office space industry who have taken the trouble to reverse-engineer the WeWork operations, like myself, seriously doubt that they generate that much operating profit already.

This is why the story is even bigger than what the Wall Street Journal and Morningstar articles suggest. We believe the WeWork investors’ bet is a bet on a long-term model, with no expectation of achieving massive profitability any time soon.

WeWork Golden Gate
WeWork San Francisco – Golden Gate
We also believe that whether they will prove to be right or wrong, investors in WeWork have done their homework. Do not think, like I have heard some suggest, that this fundraising success is just the result of a good PR campaign, where naïve or lazy investors fell for smoke & mirrors. It would be way too simple.

Instead, it is the sign of a fundamental belief by these investors that the traditional office space is on a verge of a major disruption, the scale of which may even exceed what we have seen in the worlds of AirBnB and Uber and a belief that WeWork is well positioned to take advantage of this disruption.

We agree with this belief, particularly the first part of it. The disruptive value proposition of the sharing economy is real and the shared office space industry is one of the most logical and most valuable implementations of the sharing economy. This is true for coworking, as well as for other flavors of the Workspace-as-a-Service ™ industry that focus on convenience such as Virtual Offices or Proworking. Office Business Centers have a role to play in this change as well, particularly as their model evolves towards hybrid private offices and coworking space, with more focus on curating their communities.

On the other hand, we do not believe that WeWork could ever achieve a monopoly on the shared office space industry. That’s where the comparison with players in other sectors of the sharing economy ends. That’s where $10 billion represents a more significant leap of faith than we would be willing to make (even though we are believers!). Whereas Uber and Airbnb can build a credible case that “the winner takes all”, such won’t be the case in the shared office space. The barriers to entry are not that hard to overcome and users desires for spaces and types of communities will remain diverse.

WeWork is not a market place. It is a workplace provider. It only represents one of the many flavors that users want. Other providers will be successful proposing different flavors, in a large scale. Regus and now WeWork have shown the path.

In that sense, Starbucks is a better analogy to understand where WeWork may end up, if successful. Starbucks is the strongest, largest, most successful coffee shop company in the world. It is ubiquitous. But it does not have a monopoly. There are others, big and small. In the process Starbucks has helped change the way people drink coffee and it has raised the traffic to coffee shops, particularly their own. They also pushed out some of the local coffee shops that often –quite frankly- were not that great. But many local coffee shops, with good cofffe and personality, managed not only to survive but also to thrive.

WeWork Boston
WeWork Boston
We believe the same will happen to the Workspace-as-a-Service ™ industry. We believe that WeWork is only one of the several franchises that will establish their names in the industry. Meanwhile, WeWork, like Regus before them, greatly helps raise awareness of the shared office space, to the benefit of all operators, large and small. We believe investors have other ways to tap into this opportunity than to bet on a $10 billion valuation for a marginally profitable company. Other serious contenders are emerging, at less scary valuation levels and with possibly safer business models.

In the end-state, the traditional office space world will be significantly disrupted, but landlords who will ally themselves with Workspace-as-a-Service ™ operators to help evolve their space offering can take advantage of this massive change too.
Finally, we do believe that it is only a matter of time for the shared office space industry to reach a $1 trillion valuation, which is still a fraction of the entire commercial real estate space valuation. Give us a little bit more time for a prediction as to when. To be continued…

Author: Laurent Dhollande, CloudVO CEO