Coworking Project Transition from Owner to Manager

Hi Everyone,

Our coworking project started on the great plains in 2011. After a year-plus of community building, we opened our small city’s first coworking space in 2013. I suspect we’re like many in this group:

  • a couple of co-founders with an llc own the business and the digital and physical assets

  • lease space from a building owner and sell memberships to coworkers

  • maintain a small but loyal coworking community

  • are passionate about coworking

  • do everything ourselves

  • barely break even on a 2500 square ft space and dream about hiring someone to help.

Recently, a local commercial real estate titan and corporate pillar teamed up with plans to fund and open a 10k sq ft coworking space + code school across the street from us with capacity to quickly double in size. We accepted their offer to join forces with them. In the coming quarter, we would close our space and transfer our identity and membership to the new location. They will supply a first-ever community manager, creative / marketing, and an operating budget. We will run their space with some sort of management agreement, tbd.

We are writing to ask if anyone has gone through a similar transition or perhaps started off with large corporate partners and would be willing to jump on a call and discuss:

  • structure of a coworking space management agreement

  • sample agreements to share

  • transfer of physical and digital assets

  • transfer of membership

  • how it went in general

Thanks, in advance,

  • Andy