Good (snowy) morning from Durango, CO. We are starting DurangoSpace
in January 2011 here in Durango, CO. Jury is still out on how it will
work, but we are ready to launch. Here is what we've done so far:
1) Six months of research, and 3 months of business planning. Maybe
more planning than we need, but we wanted to really understand
2) We have been to NextSpace (Santa Cruz & SF, CA), Sandbox Suites
(Berkely, CA), Independents Hall (Philly), the Hub (SoMa in SF &
Berkeley, CA). the visits really help, including working in a
coworking space (and paying to see how the back end works). I spend
time working at Indy Hall and Next Space.
3) The secret sauce numbers are: a) 100 SF per workspace, so a 3,000
SF building has capacity for 30 workspaces, b) 2:1 ration of
members:workspace. So a 3,000SF space has capacity for 60 members
(or equivilent), c) Community first which all of the coworking
pioneers will tell you. It is about community and space, not just a
real estate play.
4) Do your homework. Our research shows that it is a "skinny
business model", the gross revenues and margins revolve around a fixed
cost model, so you can get started and lose money if you don't have
solid member support. This appears to be where most fail.
5) One your space, the business model does not afford much in the way
of lease hold improvements. Need to put capital cost into furniture
(flexible, comfortable, usable) and infrastructure support for
Let us know how is goes....
DurangoSpace, Durango, CO
On Dec 16, 10:07 pm, SteveJ <[email protected]> wrote:
Hello, my name is SteveJ and I live in Missoula, MT. I am a P/C Agent
in California and work from home. I am currently very interested in
the coworking concept and potentially have a building that will work
to establish a coworking location in Missoula. Any ideas? Any