After reserved funds, all entrepreneurs are wishing to have a nice place where they can work efficiently, without vexing themselves due to office supply, insurance, and maintenance of the space.

Adam Neumann and Miguel McKelvey were the first entrepreneurs who heard the unsaid wish of all other entrepreneurs. They launched a company named WeWork which enables startups to lease the co-working spaces and office spaces for a limited time. The idea of Airbnb for office business was so successful that currently WeWork is valued at around $47 billion.

In this blog, we will talk everything about WeWork in a very comprehensive way. We will also discuss the cost to develop a co-working space app like WeWork and how as a real estate startup, you can double your revenue with WeWork like business model and app.

Insight into WeWork

According to the Harvard Business Review article, WeWork is not a tech company, but it is a modern-day real estate company that was founded by Adam Neumann and Miguel McKelvey in 2010 after selling their previous startups named GreenDeck.

WeWork provides office spaces for lease to entrepreneurs and startups. It does not only provide office spaces, but customers are also rewarded with free internet, beer, and snacks. In fact, insurance and maintenance of the office spaces are also taken care of by WeWork. This is how WeWork has become the first choice of those entrepreneurs who don’t want to get distracted while running their dream startup.

As of now, WeWork’s ‘modern real-estate business’ is available in 111 cities across 29 countries with more than 5 million members.

Business journey and funding history of WeWork

• In 2010, after starting an on-demand co-working space providing company, Neumann and McKelvey bought a property in New York’s SoHo district and rented it out. This was the first property of the WeWork.
• In 2011, PepsiCo placed its few employees at the SoHo district property of the WeWork.
• By 2014, WeWork managed to buy and rent many properties across New York. As a result, it was considered as “the fastest-growing lessee of new office space in New-York.”
• Till then, WeWork has successfully attracted top-notch investors like J.P. Morgan Chase & Co, T. Rowe Price Associates, Wellington Management.
• As of 2015, WeWork owned 51 co-working office spaces across the USA, Europe, and Israel.
• On March 9, 2016, WeWork has raised a whopping $433 million at the valuation of $16 billion.
• As of October 2016, WeWork has seized $1.7 billion in private capital.
• In 2017, Softbank has invested over $1 billion in this office space app providing company. The same year, they have launched stores for services and software for their users or members.
• In March 2018, WeWork has raised more $400 million alongside a private equity fund.
• In January 2019, WeWork company changed its name to We Company. During the same month, Softbank invested more $2 billion in it.
• In April 2019, the company filed for an IPO.
• The business model of WeWork

WeWork is an office-leasing company, following a very straightforward business model. The major percentage of their revenue comes from the rent of the offices. However, they have branched out the simple renting service into three sub-services. These are office renting service, dedicated desk renting service and hot desk renting service.

Through office rental service, WeWork rents out a whole office to a startup. This is the most expensive renting service of WeWork. In a dedicated desk renting service, they rent out a dedicated desk of an office to a freelancer or a single entrepreneur. Whereas, they allow anyone to use only available desk if he opts for a hot desk renting service.

Moreover, WeWork which has been quoted as a modern real-estate company and not a tech company is earning a lot by an office-flipping business. It buys a good space at a profitable location and after renting it for quite a good time, it sells it and makes a healthy profit. If the property is not good enough to make WeWork profitable when they resell it after few years, WeWork prefers to acquire a long term lease of it from the owner and keep renting out that property until they break-even for particular that property only.

Develop Alternative app of WeWork, How to Make an App Like WeWork, WeWork alternative app features to consider

Why WeWork like office space app and Airbnb for office business work?

If you are still having cold feet over the thought of developing WeWork like app and starting an Airbnb for office business, here are the top reasons depicting why developing a co-working space app like WeWork or running Airbnb for office business is a safe bet.

» WeWork like app is actually solving a major problem

As discussed in the first paragraph of this blog, WeWork like co-working space app is solving one of the major problems of the entrepreneurs – having a workplace where everything is taken care of by a company – so that entrepreneurs can focus on their work.

» The very large user base

Needless to say, the major user group you can target is entrepreneurs. And guess what? There are close to 400 million entrepreneurs worldwide!

» It is a modern real estate business

Harvard Business Review report states the right thing – WeWork like business is a modern real estate business. If we understand this statement in a broader business term, it means that even if you fail to acquire a large number of users, you can make good money by just buying and selling the offices. And if you acquire a good number of users, it would be your second revenue stream!

After reading so far, if you are thrilled to develop WeWork like office space app and jump into Airbnb for office business, you have to pay extra heed at the feature set as it defines the user experience. By a lucky chance, we have covered it here.

Top features of WeWork app which we provide into your WeWork like Airbnb for office app

• WeWork app lets anyone search for office places by location and by team size.
• WeWork app shows the pricing for its all three renting services: office rental, dedicated desk rental and hot desk rental.
• WeWork app lets you share your experience with the community of creators.
• It enables you to make professional connections and find your next client.
• The app is equipped with the personal messaging feature.
• You can book the conference rooms by the half-hour.
• At supported WeWork buildings where they keep the snacks, you can buy it by scanning the printed code from your app.
• WeWork app lets you submit a support request for anything you need.
• And most importantly, it has the dedicated module from where you can track your leasing term and amount.

Also read : Your idea for building app like Airbnb could make you the next unicorn in the travel and hospitality industry

How much does it cost to develop an app like WeWork?

Coruscate is the top android app development company that entertains several numbers of queries related to developing apps like Airbnb. We accommodate 100+ highly trained developers and designers who work closely with the research team to bring innovation into your app. In addition to robust app development, we become the business strategic partner with our clients and help them to get everything out of the market.

With our rapid app development technology, we can develop WeWork like app within 45-55 business days and under $10k.

To know more about app features, market possibilities, profitable business model and app marketing tactics, please contact our app scientist and business expert.

Note: We do not make clones of any exact application, clone means to us is how better we can execute your app idea with existing app features and experience.

The post Develop WeWork like app or Airbnb for office app and be unique ‘modern real estate company’ rather than being a boring tech company + How to Make an App Like WeWork + Create an App like WeWork + Apps Like WeWork + Develop Alternative of WeWork appeared first on Coruscate Solutions.

Travel and tourism are getting a new face with new apps coming up to make your trips easy. Staying with locals at an unknown place feels safe and you can even get to know the real culture and families. Also, it makes you less lonely than staying at a hotel where you get the services but not the warmth of home.

Developing a homestay app like Airbnb can be a good idea if you are looking out for business opportunities in the travel and hospitality industry.

Airbnb app is one of the best homestay apps and property rental service which allows travelers to stay at the local’s place and makes the experience better for the hosts and guests. The company has its headquarters in San Francisco. They operate an online marketplace and online hospitality service all over the world via the website and mobile app. The members can use the services to offer lodging and homestays for tourism experiences.

Airbnb was a brainchild of Brian Chesky and Joe Gebbia. It all started when they could not afford the rent for their loft apartment. They kept an air mattress in their living room and started renting it as bed and breakfast. In February 2008, Nathan Blecharczyk joined them as the Chief technology officer and turned the bed and breakfast into a full-fledged business. Airbnb was officially launched in August 2008.

Airbnb provides an opportunity for travelers who wish to have a comfortable homestay away from home. It is also a good choice for the people who are unable to find hotels in the saturated market. Airbnb is a platform to get the listings of such properties available for bookings.

Here is a graph from Similarweb that shows the Google Play ranking and Usage ranking of the Airbnb app as 3rd and 7th respectively under the travel and local category.

Here is another graph for App Annie that shows the last week statistics of the Airbnb app.

Airbnb is a community which allows people to list and discover various unique spaces around the world just at the click of their phones. The homestay app connects travelers seeking great places to stay, for their authenticity and the homeowners who have such inspiring places around the world. It has more than 4,500,000 listings in around 65000 cities in 191 countries.

The company had a total of 15 funding rounds to date and has raised $4.4 billion. Their total number of acquisitions have been around 20.

Airbnb allows the homeowners to rent their rooms for a stipulated period of time. It is the right place to find a safe and comfortable homestay. Airbnb has gained the unicorn status by providing the property to stay at a cheap cost and an opportunity for the hosts to earn. The main strategy of Airbnb was to fulfill the demands of travelers at a pocket-friendly price.

There is a significant growth in terms of demands in travel industry whereas the supply rate has not improved much. There is a wide scope to venture this niche by developing apps like Airbnb. Such startups have chances of making huge revenues as people are looking for something fresh each day.

Who are the Airbnb competitors that you can take into account while building an app like Airbnb?

The game-changing travel format is becoming growingly popular and Airbnb is not the only platform that is listing the properties for booking. Some of the companies whose apps are similar to Airbnb and whose features you can consider while building an app like Airbnb are:

1. HomeAway: It has over 1 million global listings and provides similar services like that of Airbnb. There are a few additional services that it provides like an insurance program. It operates some other sites like VRBO, TravelMob, and other VacationRentals.

2. FlipKey: It is a company owned by TripAdvisor and has a huge base of users and best rates because of the manual verification program. They have more than 5000 special deals daily offers every day to maintain the loyalty of users.

3. Roomorama: This app requires users to confirm their best intentions in sharing houses. They need personal ID’s and bills and personal pictures to ensure that they are safe for the guests.

The strategy of Airbnb to stay ahead of the competition

Airbnb has reimagined the travel accommodation by creating a niche in the travel industry. It is expanding its inventory and moving towards luxury travel and business travelers also. Its success is something really worth admiring amidst the great competitor sites like Priceline, Expedia, and others. But its unique homestay style property rentals have helped it retain its identity and set itself apart from others.

The strategy of providing better services in an economical way has led to the success of Airbnb and helped it to expand globally in the travel and hospitality industry. It now aims to become a full-service travel platform.

The 4 main features of the Airbnb app

1. Search: It allows you to search for the perfect abode for your travel needs.

2. Book: You can book the homestay once you have chosen where to stay through the Airbnb app.

3. Travel: Travel to your chosen destination and stay comfortable with the host waiting for you. You can feel the true colors of the place only when you stay with the locals.

4. Explore: Explore the culture, food and be the guest at the destination of your choice.

We at Coruscate can help you to build an app similar to Airbnb but with your own extraordinary and unique features. Our research team can find out the features which will attract and increase your customers in the travel and hospitality industry. The cost of apps depends on the features and time required to develop the app. For knowing the exact cost, contact us for a free demo.

If you have an idea, feel free to connect with us through the contact us form and we will help you validate it at a free consultation session. Our expert team of developers can help you in becoming the next unicorn of the hospitality industry.

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