Abridged summary of [email protected] - 6 updates in 4 topics

Jerome,
Thank you!!! I did them a favor as growing nonprofit originally and they only had two people. They chose VIP membership to rent a desk. Then last year, they moved into one office I had available. They have had a good deal and I agree, we are charging too little. In moving forward, I wanted to make sure my offer to them is based on market rates, accurate square feet, and a formula that is recognized in the industry. I am reconfiguring and hope to have this wrapped up by Monday. Really appreciate your sharing what you use. Becky :slight_smile:

···

On Thu, Apr 3, 2014 at 2:15 AM, [email protected] wrote:

Today’s topic summary

Group: http://groups.google.com/group/coworking/topics

  • Who’s tracking their membership churn? [2 Updates]
  • Abridged summary of [email protected] - 14 updates in 5 topics [2 Updates]
  • Idea Validation: Site for Coworker & Digital Nomad Networking & Trip Planning [1 Update]
  • Airbnb now offer hourly desk space booking! [1 Update]
    Who’s tracking their membership churn?

Alex Linsker [email protected] Apr 02 01:38AM -0700

  I track churn and am fascinated in ways we might reduce it.

For example, raising rates for future members only (as long as people stay members, they keep the rate they signed up at) seems to work
…more
Back to top

Barbara Sprenger [email protected] Apr 02 11:12AM -0700

  Alex, using Deskworks, our software for managing cowork spaces, the

Membership Report automatically gives you join date and current status, can

include active and/or inactive and deleted members.
…more
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Abridged summary of cowo…@googlegroups.com - 14 updates in 5 topics

“Becky H Smith, Ed.D.” [email protected] Apr 02 11:39AM -0600

  Alex,

Great article!!!

I have a question for the “group”. I have a nonprofit group called

Adventure Scientists for Conversation using our one available office. We

charge $250 a month
…more
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Jerome Chang [email protected] Apr 02 10:54AM -0700

  My rule of thumb: 3 or 4 x rent.

If your market rent is $14 + $3 NNN, then $4.26/SF (= 3 x (14+3)/12).

Your 140sf office seems too cheap. Could be $600/mo.

Your 325sf conference room could
…more
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Idea Validation: Site for Coworker & Digital Nomad Networking & Trip Planning

eric van den broek [email protected] Apr 02 01:57AM -0700

  Well Guys, that's just exactly what we're working on right now :)

After having created a Coworking Space in Paris called Mutinerie, I started

working with Stefano (who created a space in Roma) on
…more
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Airbnb now offer hourly desk space booking!

eric van den broek [email protected] Apr 02 01:49AM -0700

  Hi guys. I founded a space in paris called Mutinerie <[http://mutinerie.org](http://mutinerie.org)> and

I’am now building Copass <http://copass.org> that enable people to access a

network of hundreds of coworking spaces
…more
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Visit this forum on the web at http://discuss.coworking.com


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Becky H. Smith, Ed.D., Founder

Blue Ocean Innovation Center
1820 W. Lincoln St.
Bozeman, MT 59715

406-551-1262

406-579-2849

[email protected]
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Becky, to add on to what Jerome said: A cowork space should never quote in square footage. Your numbers will just sound too high in the market if you do. You’re providing so much more than just commercial real estate. You have high fixed costs (what you have to pay even if no one walks in the door) and low variable costs (coffee, printer paper). To be
a little more precise, take your total fixed costs (include all your utilities, staff, rent, tax, etc.) Figure the percentage that is common area (that you can’t make money off – lobby, reception desk, break room, restrooms). This is ONLY for your calculation, never for quoting. Set a price for each of your spaces that totals at least double your fixed costs, since you’ll have vacancies. You can, of course, massage the numbers to compare to market and any extras you can bring in (events, virtual office plans, services, etc.)

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On Thursday, April 3, 2014 11:36:15 AM UTC-7, Blue Ocean Innovation Center, Bozeman Montana wrote:

Jerome,
Thank you!!! I did them a favor as growing nonprofit originally and they only had two people. They chose VIP membership to rent a desk. Then last year, they moved into one office I had available. They have had a good deal and I agree, we are charging too little. In moving forward, I wanted to make sure my offer to them is based on market rates, accurate square feet, and a formula that is recognized in the industry. I am reconfiguring and hope to have this wrapped up by Monday. Really appreciate your sharing what you use. Becky :slight_smile: