Growth of co-working startup underscores how it is reinventing the way people go to work in 2020
WORTHINGTON, OHIO, October 30, 2020 – Columbus-based start-up COhatch, a social enterprise offering a new kind of shared work, social, and family space built on community, took the No. 1 spot in the Columbus Business First annual Fast 50 with 274% growth averaged over the past three years. The Fast 50 is an annual ranking of the fastest growing, private Central Ohio companies based on average annual sales growth from 2017 to 2019*.
As the largest coworking business in the area—with nearly 100,000 square feet across eight locations and plans for continued expansion in Columbus and outlying areas including Cleveland, Cincinnati, Indianapolis—COhatch snagged the top spot. Described in Business First as “part office, part incubator, part clubhouse and part community room,” COhatch is built on a modern Town Hall 2.0 model centered on community.
CEO and co-founder Matt Davis told Business First; he was inspired to start the business after driving past abandoned storefronts across small town America. “We need something to fill that gap that Main Street used to provide. Commerce can go online but we are still social creatures.”
Davis’ model is to reimagine old spaces and renovate them with modern touches that play off local tastes. “The adaptability makes COhatch resilient and provides different avenues in which to grow,” wrote Business First’s Tristan Navera.
“Being ranked #1 on the Columbus Business First list of the fastest growing companies is nothing short of an honor and a testament to our mission, team and business model,” said Davis. “For the past four years, my partners and I have poured our hearts and souls into this concept to live a better life, spend more time with family, walk to work, thrive at work with like-minded people and to fulfill our purpose building something that improves cities and people’s lives. Our results speak for themselves, especially when we see the faces of our partners, our team and our members walk through our doors.”
As far as future plans for Central Ohio, Davis indicates he will likely build five to 10 more locations, each with their own flavor. Currently, the company is building an 8,000 square foot “digital flagship” space in collaboration with The Ohio State University that will focus on technology incubation and allow for real-world integration with other business leaders and services. COhatch also has a new build under construction in the historic district of Dublin, adjacent to the city’s new Link Bridge that runs across the Scioto River.
“On behalf of Columbus Business First and Fast 50 Awards sponsors Taft Law, GBQ and Huntington Bank, congratulations to the team at COhatch for leading this year’s list of the fastest growing private companies in Central Ohio,” said Columbus Business First Publisher Nick Fortine. “This is the 25th anniversary of the Fast 50 Awards and COhatch is a fitting new addition to this year’s list. We celebrate their entrepreneurial spirit, passion, hard work and success. We also thank them for their contribution to the health of our business community and economy.”
As part of its business model, COhatch also is actively involved with the local non-profit community in each market. COhatch offers the GIVE Scholarship program which provides scholarships each year to more than 50 501c3 organizations in each market to organizations aligned with COhatch’s philanthropic goals of helping non-profits that support anti-human trafficking/domestic violence, people experiencing homelessness, and children and adults with developmental disabilities among others.
With enrollment activities from November 1 through January 1, COhatch extends free community memberships to qualifying organizations, providing them access to space and meeting rooms and all the amenities of a COhatch membership.
Members gain access to all COhatch resources and spaces at any of its locations throughout the Midwest, including GIVE Scholarships, a Florida beach house, the “Mobi” community trailer, health and wellness coaching and special member events.
COhatch now has 17 total locations open or under development with more than 200,000 square feet in the Midwest, representing a 20-fold increase of COhatch’s footprint since its inception in 2016. The company is looking to expand across the United States in 2021.
*Honorees for the 2020 Columbus Business First Fast 50 were chosen from nominations received by the newspaper and verified by the Columbus accounting firm GBQ. Requirements for consideration: independent, for-profit and privately held business through year-end 2019; average of at least $1 million in sales in the three most recent fiscal years; based in Central Ohio; and three-year operating history.
COhatch, a new kind of shared work, social, and family space built on community, offers members the services, activities and amenities to live a fully integrated life that balances work, family, well-being, community and giving back. Founded in 2016, COhatch was created through the collaboration of a group of friends who wanted to live out their ideal lives and improve their community. COhatch has 10 locations in Columbus, Dayton and Springfield, Ohio with plans to develop an additional 10 or more sites each in Cincinnati, Cleveland, Indianapolis. Visit www.cohatch.com for more information. Follow COhatch on Facebook, Instagram, Twitter, and LinkedIn.