Eduardo Molina
General Manager
WeWork Mexico and Colombia
View from the Top

Work Spaces Bring Together People, Businesses

Wed, 05/08/2019 - 16:22

Q: What are WeWork’s main achievements in Mexico?

A: WeWork’s business model is to let companies focus on their core business, while we handle the operation of their physical workspace. We have over 15,000 members in Mexico City and we are present in Monterrey with three locations and Guadalajara with two. Overall, WeWork’s community in Mexico is close to 20,000 members and our goal is to end 2019 with 30,000. While we will maintain our focus on the three states where we are already present, we do not rule out expanding to another city. We want to continue connecting our members and more regions with WeWork’s global community.
Our fast expansion is based on the strong interest we have received from all types of companies from different industries and of different sizes. WeWork does not only target SMEs or freelancers; big corporations are approaching us because they recognize the experience we provide is what they need to retain and attract talent, improve work culture, be more productive and become more efficient in their operations. 

Q: What is the company profile that WeWork is trying to reach in Mexico?

A: With SMEs, we look for members that can connect with other companies that are at the same stage of their development process, so together they can share ideas on how to reach their targets. Many SMEs working in WeWork find their customers or suppliers at the workplace. Our global infrastructure is also interesting for SMEs. If companies want to internationalize their operation, they can take advantage of our international office network. These are among the most immediate advantages companies get from becoming part of the WeWork community. 
With big corporations we try to help them solve one of their main issues: attract and retain talent. WeWork provides an environment where their workforce wants to be. A corporation with offices in the Santa Fe area of Mexico City is not very attractive for people living on the other side of the city; with WeWork the company can expand its reach. 

Q: What are the particularities, advantages and limitations WeWork has found in Mexico?

A: Our operations are fairly similar whether in Mexico, in New York or Brazil. The mindset at companies regarding the workplace is changing all over the world, which means that our offering has been well-received internationally. People want to participate in projects bigger than themselves and they want to be in spaces that respond to that kind of mindset. Having said that, we understand we have to regionalize our operations. Our team is formed by people who know the Mexican culture, the way Mexicans interact and do business. This helps us understand what our members require and how to add value to the companies that are with us. 

Q: What are the main problems that real-estate brokers face in Mexico and how can WeWork’s Broker Partnership Program help them find a solution?

A: Brokers in Mexico are usually motivated to lease larger spaces under long-term contracts. When people sign a five-year contract, they tend to lease more space than what they need at the moment because they project that in five years they will be using more space than what they currently require. Given that these are spaces that are not ready to be used, companies need to have a budget available to furnish them and adapt them to the type of space they need. 
Our program gives brokers access to a larger pool of clients that might be interested in more flexible contracts. We offer ready-to-use spaces that do not require further investment, which generally helps to sign the contract faster. Since brokers normally work on commission, they can get the most of the transaction because our membership contract includes all the services the company will need.