Analysis of Co-Working Space Business Strategy with SWOT Method to Increase Visitors and Market Expansion: Case Study of ICO Space Medan

Poppy Yosephine Sukatendel (Universitas Sumatera Utara)
Iskandarini Iskandarini (Universitas Sumatera Utara)
Meilita Tryana Sembiring (Universitas Sumatera Utara)

Formosa Journal of Multidisciplinary Research (FJMR)
Vol. 4 No. 7 (2025): July 2025

This research analyzes the business strategy of ICO Space Medan, a co-working space initiated by PT Inalum, using SWOT analysis to identify internal strengths and weaknesses as well as external opportunities and threats. The study adopts a mixed-method approach, combining quantitative questionnaires and qualitative interviews, to evaluate visitor satisfaction, strategic positioning, and market competitiveness. The findings reveal that ICO Space possesses strong internal assets, particularly in its facilities, community, and work environment. However, location accessibility and growing competition pose significant external challenges. Based on the SWOT matrix, the study offers strategic recommendations such as strengthening digital presence, developing hybrid service models, and leveraging government partnerships to enhance market expansion and visitor retention.