It’s a shared office. The business plan explains it like this:
A coworking space is a shared office for independent workers. Coworking spaces usually depend on hot-desking and members’ laptops; many members are not in their coworking spaces full-time. Coworking spaces are based on a membership model, like gyms. Members can use shared resources, usually including non-dedicated work areas, meeting rooms, kitchenettes and printers, on an as-needed basis.
Coworking spaces provide a professional venue for meetings and a base for desk and laptop-based work. However, the fundamental purpose of a coworking space is to provide a supportive group of peers for entrepreneurs, remote workers and people who are self employed.
Coworking spaces are places to work, but just as importantly, they provide stability, promote camaraderie and generate business opportunities. The psychological and professional benefits of a well-run coworking space go far beyond the shared office infrastructure.