Memo of Convene and Workplace Innovation Today: the Coworking Center

In: Business and Management

Submitted By graceyijing
Words 1314
Pages 6
Memo of Convene and Workplace Innovation Today: The Coworking Center

Executive Summary: This case talks about two entrepreneurs, Kelly and Simonetti starts their own company Convene. Their company rents under-utilized corporate meeting centers, innovates updated facilities based on the needs of specific clients and satisfies corporate demand for local meeting space. Differentiation and specialization are their business strategy. Their innovation and service make them achieve big success in New York City. Now they are thinking about whether to expand their business. It presents an investment opportunity in Boston. However, they worried about their business strategies and model may be not adequate to this unfamiliar market.

What variables are important to examine to identify whether Boston is appropriate for expansion? * Corporate density: the main clients Convene targeted on are Fortune 500 companies. As mentioned in the article, nearly 70% of Convene’s revenue was generated from within a ten-minute walking radius of each facility. It was particular crucial for the sites to be located in close proximity to clusters of Fortune 500 companies and other premium prospective clients. In order to attract more clients, Kelly and Simonetti diversified the company's client base to include a wider range of potential users. So when we evaluate Boston, Convene should examine distribution of Fortune 500 companies. Then Convene should pay attention to distribution of these potential users, such as every possible corporate executive, commercial real estate agent, etc. The fact is that unlike NYC, which had an estimated 353.7 million square feet of office space in its various CBDs as of 2012, Boston CBD office space comprised only 18% of that area.

* Public transportation system: Is this city convenient in transportation? Do guests can access the conference…...

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