Catch the Wave to Executive Suites & Virtual Offices

Well Established, Profitable, Growing, Absentee

Project Coworking was founded in the 1970s in Atlanta, Georgia, establishing itself as a pioneer in the executive office space industry. With over four decades of experience, the company has steadily grown its market presence through organic expansion and a commitment to excellence. At its core, Project Coworking provides premium, flexible workspace solutions that empower businesses to thrive. This philosophy is rooted in the belief that a professional environment is crucial for success and that adaptability is key in today's dynamic business landscape.

Project Coworking offers a comprehensive portfolio of services designed to meet the diverse needs of modern professionals. Their offerings include fully furnished executive offices, virtual office services, professional meeting rooms, and administrative support. Each service is tailored to provide clients with a prestigious business address, state-of-the-art technology infrastructure, and the flexibility to scale as needed. The company primarily targets small to medium-sized businesses, entrepreneurs, and remote workers seeking a professional presence without the overhead of traditional office leases.

Project Coworking generates revenue from two primary business lines: office rental (38.1% of revenue) and virtual office services (61.9% of revenue). It serves customers across five counties in Georgia. The company emphasizes its ability to retain customers and generate repeat business through personalized service and flexibility, focusing on class B office spaces rather than high-end class A properties. The company's growth strategy includes expanding virtual office services, leveraging its brand reputation, and pursuing management contract opportunities for vacant office spaces.

Project Coworking has demonstrated consistent revenue growth over the past few years, with revenues increasing from $720,011 in 2021 to $747,661 in 2022 (a 3.8% increase) and further to $779,036 in 2023 (a 4.2% increase). Despite facing market challenges, including the aftermath of COVID-19, the company has shown resilience by maintaining steady growth and projecting revenues of $811,727 for 2024, a 4.2% increase. The company has aimed to implement annual price increases of approximately 3%.

The primary growth catalyst for Project Coworking is the evolving landscape of commercial real estate and the increasing demand for flexible workspace solutions. As businesses adapt to remote and hybrid work models, there's a growing need for versatile office spaces and virtual office services, creating new opportunities for Project Coworking to expand its offerings. This shift in customer behavior allows the company to leverage its reputation and brand to pursue management contract opportunities for vacant office spaces, potentially in a 50-mile radius around its current footprint. Additionally, consolidating competitors in the market has positioned Project Coworking to capitalize on its personalized service and focus on class B office spaces, allowing for expansion into new geographic areas and the potential to serve a wider range of clients seeking cost-effective, flexible workspace solutions.

Summary of growth drivers that portend an extremely positive outlook for 2024 and beyond:

? Unique focus on class B office spaces, differentiating from competitors targeting high-end class A properties
? Ability to offer both private office rentals and virtual office services, catering to diverse client needs
? Opportunity to grow beyond the current 5-county area into a 50-mile radius, significantly increasing market reach
? Strong reputation and established brand that can be utilized for pursuing management contract opportunities
? Owners' willingness to assist with a sufficient transition period, ensuring continuity and knowledge transfer to new ownership