Flywheel is more than just a coworking space: Co-founder Peter Marsh likens it to a corporate YMCA, with a member community and thoughtful workspaces.
Marsh uses this comparison to describe the individual memberships available at Flywheel Coworking, an anchor tenant in the Crescent Startup Community & Innovation District under construction on Poinsett Highway in Greenville.
“Our members don’t sign leases. They don’t have to sign leases. It’s month-to-month. Members customize their membership plan to fit their specific needs,” said Marsh, who helped found Flywheel in 2014.
“If all you need is a business address and postal service, we’ve got that covered. Plus, if you want to use the space to meet with clients five days a month, we have a five-day plan. We also have a 10-day plan. And we also have monthly plans for people who want the space to be their primary base.”
Members pay a fee to reserve a desk, office or suite, or they can purchase a membership to access any available desk or space.
Crescent One, the first building in what will become a mixed-use district, is being developed and renovated by Hartness Development, Flywheel, Furman University’s Hill Institute for Innovation and Entrepreneurship, and other partners and entrepreneurial support organizations.
Flywheel will have 40 private offices and 60 co-working desks, in addition to meeting and event space, a conference center and shared social areas with a drinks bar. Flywheel will occupy more than half of the 47,000-square-foot building.
“We offer affordable, fully furnished, turnkey shared workspaces with high-bandwidth internet, plenty of amenities and space that members can use for educational programs, seminars and meetings,” said Marsh, who is responsible for developing new locations as Flywheel expands.
“At its core, coworking is about providing the economic efficiency of a shared workspace to freelancers, solopreneurs, consultants and startup founders. And many of our members are software developers and digital creators.”
Marsh says the building’s other tenants will complement and in some cases mentor the early-stage businesses in the Flywheel community.
All tenants in the Crescent Innovation District will receive corporate membership in Flywheel. Located at 701 Poinsett Hwy., roughly halfway between Furman University and downtown Greenville, the district is the former site of the Pepsi-Cola Bottling Company, owned by the Hartness family since 1940. The developer also purchased the former Piedmont Shirt Factory site at 111 Henry St.
Crescent One is scheduled to open in July and will be available for rent, and Spartanburg native Olivia Evans will serve as the property’s community manager.
“All of our locations are locally run by local community managers and partners,” Marsh says.
Flywheel is based in Winston-Salem, North Carolina, but Marsh and others have been commuting to Greenville since 2019. The company has been offering social, networking and educational programs since 2021.
“We’re excited to open a store in Greenville. There’s tremendous energy. Great revitalization of downtown. We’re excited to be part of that community energy and be part of the vibrant entrepreneurial ecosystem that Greenville is known for,” Marsh said.
He expressed gratitude to Village Launch, Greenville Starts, NextGEN, the Small Business Development Center, Furman’s Hill Institute and other organizations that promote and provide resources for businesses of all sizes.
Flywheel will work with those organizations, some of which will set up offices at Crescent One, but Marsh said Flywheel has also identified key things that are missing, such as a mid-sized conference center.
“There is a strong need in Greenville for an affordable conference center that can host meetings for 100 to 300 people. Currently, such facilities are difficult to find,” he said.
The Crescent will ultimately provide the entrepreneurial community with a place to live, learn, work, play and innovate under one roof, including an outdoor space called The Shed.
But what sets Flywheel apart from other co-working spaces, Marsh says, is its mission.
For-profit Flywheel LLC will provide the space, services and amenities.
The nonprofit Flywheel Foundation manages an investment fund, organizes events and conferences and offers “guarantees” to members, Marsh said.
“We combine the two. What we guarantee to all our members is accelerated personal and professional growth. So it’s not just about handing you an office key and saying, ‘Let me know if you need a coffee,'” he explains.
“We don’t just hand over the keys to an office; we ask, ‘How can we help you connect with your customers? Do you need capital resources? Do you need educational or professional development resources?’ We actively seek out ways to provide that to our members. It’s a completely different business model than just about every other coworking operator.”
The program, called “Retail Lab,” is designed for people with side hustles.
“They may be developing a product or service that they sell through e-commerce, but it could also be an entire product line or a brick-and-mortar presence in the community,” said Marsh, who is founding director of the Flywheel Foundation.
“Our Retail Lab helps them understand the fundamentals of business, marketing, how to approach customer acquisition and, if they choose, how to operate a brick-and-mortar store. We spend as much time nurturing entrepreneurs as we do developing their businesses.”
Flywheel also hopes to get local residents involved.
“This is essentially a redevelopment district, and we were one of the first big developments in the area,” Marsh says. “The surrounding area has a rich history, and we want to involve our neighbors in our entrepreneurial efforts as well.”
Now in Greenville and four other locations, Flywheel is helping businesses and creating an environment of mentorship.
“The idea of building a large, dense entrepreneurial community is new in Greenville. There’s nothing like it,” Marsh said.
“Our mindset is economic development through entrepreneurship. We do that by building the infrastructure and then putting in place programs with our foundation. That’s our passion and that’s our mission.”
Hartness Development is a consortium of planning, design, construction, real estate and finance professionals creating community-oriented commercial, residential and hospitality projects.
