Image-empty-state.png

Market Study

Ascender

Ascender is a “hub for Pittsburgh’s starters and builders” that provides co-working space, educational programming for entrepreneurs, and business incubation in Pittsburgh’s East End.

Ascender engaged Fourth Economy Consulting to help them understand trends in the co-working market as they considered a potential expansion. Their key questions included:

  • How much demand exists, broken down by industry type, location, age, etc.?

  • What is the market pull for different types of co-working space?

  • What are the trends related to price points, features/amenities offered, or the size or maturity of businesses?

  • When small companies transition from co-working spaces to their own office spaces, what are they finding?

  • And, how does Ascender’s model compare?

Our Approach

Our team undertook several research activities, including analyzing data to approximate the potential market of entrepreneurs that could be Ascender’s future tenants; conducting research and a literature review to understand the alternate supply of co-working space and conventional small office spaces for those potential future tenants; and interviewing potential tenants to learn more about their needs and how Ascender might offer them a compelling value proposition.

The Results

The resulting confidential work product was utilized by Ascender to make decisions regarding the next steps in their operational growth. It provided a data-driven view of the region’s coworking trends and the potential for real estate and service expansion.

Location

Pittsburgh, PA

Project Type

Market Analysis

Client Type

Economic Development Organization

Scale

Community