Thanks! And congrats on starting your own coworking journey!
So our Kickstarter campaign is going to cover our furnishing and fixturization. There are three partners total, so when we formed our LLC, we all put in capital contributions totaling about $12k to get us started, This allowed us to pay legal fees, secure the space and do some marketing. We don’t officially start paying rent until two months after we take possession of our space, which happens after the build-out is complete.
We are currently taking applications and having accepted applicants sign contracts. As we approach our opening date, we will charge most applicants a $40 fee to cover a background check. We are also at that time taking a one month deposit. Some of our applicants have opted to pay 6 months upfront for a 15% discount, so we will have some good funds to begin with.
We are also working with local businesses to create strategic partnerships. Most businesses prefer to barter rather than contribute money, at least in Bend. So we have a furniture business donating a conference table and a plant nursery donating a living wall, etc. In return, they become an official sponsor and get top billing on our website and promotional materials.
Good luck to you with your space and let me know if you come up with some great ideas for fundraising! We are learning new things everyday!!
On Sunday, July 5, 2015 at 6:30:29 PM UTC-7, Dawn Shannon wrote:
Congrats on starting your coworking space - and for your 30% who have already commited. My business partner and I are working feverishly to start our own coworking center in the DFW area (Fort Worth, TX) and are currently seeking an investor / mentor / equity partner to help with funding.
My questions to you would be:
- I saw your Kickstarter campaign and see that you already have your space - hopefully opening by August. Where did you get the funds for your building if that is not what the Kickstarter campaign is for?
- You say you are currently taking applications; are you charging an application fee (if so, how much?), and are you also currently accepting pre-payment from your potential members to help offset some of your costs?
Any suggestions on how to raise funds for our venture would be welcomed. Thanks.
On Tuesday, May 12, 2015 at 7:35:00 PM UTC-5, Karen Ruane wrote:
Thanks for the feedback, Andy, Alex and Ramon. I will definitely check out that handbook!
We are currently taking applications for our space and have reached about 30% of our planned starting capacity, with an August 1 opening! We’ll continue to network and advertise, as this seem crucial to a successful start-up.
Thanks again, for the wisdom. And please keep it coming!
On Friday, May 8, 2015 at 10:26:52 AM UTC-7, Karen Ruane wrote:
My two partners and I are about to open a creative coworking space in Bend, OR. It will be the first of it’s kind in this area, but not the only coworking space in our population of 80k. We are a sort of hybrid between art studio space and business desk rental. We have both resident spaces/desks to rent, as well as drop-in memberships at hot desks/tables.
Here’s my question for you all:
What’s one thing you learned quickly after opening that you wish you’d known and planned for before opening?
It’d be great to get a few nuggets of wisdom to potentially save us from mistakes!
Thanks so much!