Any business venture starts with an idea upon which it is built. Although it is difficult to put forward a genuinely unique concept today, the ones already on the market can be further developed and expanded upon to offer the target customers an original product or service. The business idea offered for this assignment is as follows: to create a sustainable coworking space for young entrepreneurs.
Coworking is a relatively new concept that has not yet exhausted itself. It can be described as a practice of sharing social space, office space, and infrastructure among several individuals or businesses (Oswald & Zhao, 2020). With a growing trend on sustainability, a sustainable coworking space presents a viable business idea. Such a space should encourage the individuals sharing it to be more environmentally friendly by urging them to reduce their carbon footprint and opt for more environmentally friendly choices in their companies. Thus, a sustainable coworking office can include a kitchen space with reusable utensils, recycling stations, and a composting station for food waste. In addition, it can introduce “green rules” for the space that will ensure that the individuals sharing the office reduce the carbon footprint of their business. For example, paper use can be limited by persons using the space switching to electronic invoices and contracts.
Overall, this business idea was selected due to the increasing demand for coworking spaces and customers’ requests for the companies whose products they purchase or services they use to be more environmentally conscious. The idea has the potential to be successful as many young entrepreneurs cannot afford to rent an office space. In addition, the concept of an environmentally sustainable coworking space is likely to attract like-minded individuals who can foster long-lasting business relationships and partnerships in the coworking space.
Reference
Oswald, K., & Zhao, X. (2020). What is a sustainable coworking space? Sustainability, 12(24), 1–21. Web.