hygge coworking feels like a brand new business in many ways. There’s an entirely new membership base that’s largely interested in offices and dedicated desks as opposed to open space. The business has incurred debt to stay afloat – something that was never done before the pandemic. Every dollar counts now as we try to climb out of the hole the pandemic caused.
“It’s almost like we had to erase the last 5 years of work and go, ‘Oh we’re a new business that’s incurring debt to grow.'” Garrett says in the episode. “hygge was an anomaly in that we pre-pandemic had no debt. We didn’t build this business with investment, we didn’t build it with loans… and that all changed. Like, the whole mentality of that had to just go out the door.”
There’s a greater focus than ever before on ROI, particularly as the small team considers where to spend their time as they determine “what’s next.” This isn’t a bad change, Garrett says. But it’s a big one.
Listen in to the episode above or wherever you find your podcasts to hear Garrett’s honest conversation about the struggles of business ownership in the past year, what’s next for hygge and who he really wishes would sponsor the podcast (we can’t always be serious).