I realize I'm probably a bit of a unicorn, but I've coworked in the same co-working office for over 8 years. The businesses in the office have changed and there has been some turn over in those years but 50% of us have stayed! Those of us who have stayed the past 8 years have cycled between self employed, and employed full-time, often years at a time for one company.

We live in a small town in Colorado that has never provided work opportunities in our field, but we've always been successful working remotely.

Small town co-working has provided a huge value for us: no commute, we're out of the house, camaraderie, friendship and support. Maybe this is an example of a profitable co-working.

I know that in these past 8 years the owner has done very little recruiting and the desks are nearly always full.