Shared workspace realtor Jam’D has lost thousands of clients over the past ten months, due mainly to people not wanting to get within six feet of each other. Faced with the expense of maintaining 3400 workspaces averaging 11,000 square feet, the company was within days of going under. Then founder and CEO Jennifer Silkman came up with another of her legendary ideas.
Actually, it was two ideas.
“The first was providing limitless free coffee condiments,” says Silkman, by Zoom from her Naples, Florida home. “But people just took the sugar and never came back.” It was her second idea that hit pay dirt: Shared office space for one – where an individual occupies an entire facility all by her or himself.
“Until now the model has been to fit as many people as possible into one space without violating OSHA regulations,” says Silkman. “Obviously that wasn’t working, so we had to re-visualize.” Jam’D began offering space for on July 15, and in the first three hours over 400 people signed up. Today, 2800 of Jam’D’s facilities are being leased by just one person.
“They’re still getting the shared workspace experience but now their safety is guaranteed,” says Silkman. The average monthly cost is around $55,000 – at least ten times what they might pay for a regular office – but it apparently hasn’t been a deterrent. Clients are paying for their own coffee condiments, too.
“People value the sharing experience,” says Silkman. “And in times like these who better to share with than yourself?”
