Coworking Space Founders- How much does it cost to start a space?

I was thinking about writing a blog article about the costs of
starting a coworking space on my website and I thought what the hell?
Why not just start a thread here and get actual feedback from people
who have been through all this before. This way i can get some great
material for a killer blog post and this can also be an informative
thread for people who are thinking about opening their own coworking
space.

So here are my questions for anyone who has started a coworking
space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!

···

----------------------------------------------------------------------
Advertise your coworking spaces for FREE
http://www.myecodesk.com

Hi Michael --

I suspect the responses you're going to get on this will be wide
ranging -- and they should be, as start-up costs will very much be a
function of the location, size and objectives of each space. Also,
you're going to need to translate the info you get into "apples to
apples" comparisons for the data to be valid... for example, many
folks who don't come at this from a business / accounting background
will attribute both capital and operating expenses to "costs."

In terms of my own space, I have chosen to bootstrap my endeavor.
Consequently, my initial capital investment was limited, and I am
using operational revenues to pay for additional capital needs as the
community grows. I did not have to undertake any leasehold
improvements in my space. A portion of my furnishings and equipment
were cannibalized from another business, and IKEA is my friend for
what I have opted to purchase. My total investment for capital items
thus far is under $1,750 for a 1,000 square foot suburban space
outside of Boston that maxes out at 10 concurrent users.

Do you consider ongoing "costs" for marketing and sales-related
activities part of the information you're looking to collect? If so,
then how would you like to measure these (annualized gross costs or in
some other fashion)? My pre-opening marketing expenses were very
limited -- about $250 for some flyers, brochures and digital ads.

As of the end of January, my space will have been operating for 4
months. In terms of operational performance, we're almost at break-
even (and even that's a bit misleading, as I haven't really been
marketing aggressively).

Hope this is helpful.

Jack

···

----------------------------------------------
Jack Speranza
Principal, Main Street Ventures
15 Main Street, 2nd Floor
Hopkinton, MA 01748
T: 508.858.5440 x101
F: 508.858.5441
Toll Free: 866.472.1035
http://mainstreetventures.com
http://zenbungalow.com
----------------------------------------------

On Jan 30, 11:33 pm, Michael <[email protected]> wrote:

I was thinking about writing a blog article about the costs of
starting a coworking space on my website and I thought what the hell?
Why not just start a thread here and get actual feedback from people
who have been through all this before. This way i can get some great
material for a killer blog post and this can also be an informative
thread for people who are thinking about opening their own coworking
space.

So here are my questions for anyone who has started a coworking
space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!

----------------------------------------------------------------------
Advertise your coworking spaces for FREEhttp://www.myecodesk.com

I am in the process of getting everything squared away for our space and I too have found Ikea to be our best friend when it comes to a bootstrapped budget. I think the approx cost for a desk, chair, chair mat and storage was $250 or something like that and they look 10 times better than anything else.

If anyone has advice for me i appreciate it

Blair

MindWorx CoWorx

We shared a detailed “by the numbers” post for Indy Hall with Gigaom - and then on our own blog - that you should be able to glean your numbers from:

http://www.indyhall.org/blog/2010/08/06/indy-hall-by-the-numbers/

Our smartest cost-saving measure was including our members in our buildout process. We saved immensely on human labor for things like painting and running network wires because members had interest in contributing to the space construction - not only did this save us money, but it gave those members an immensely strong bond to the space, and a sense of ownership that is unparalleled. That process has saved us upfront costs as well as long-term administrative costs, all of which allow us to keep our monthly rates ridiculously low.

-Alex

/ah
indyhall.org
coworking in philadelphia

···

On Sun, Jan 30, 2011 at 11:33 PM, Michael [email protected] wrote:

I was thinking about writing a blog article about the costs of

starting a coworking space on my website and I thought what the hell?

Why not just start a thread here and get actual feedback from people

who have been through all this before. This way i can get some great

material for a killer blog post and this can also be an informative

thread for people who are thinking about opening their own coworking

space.

So here are my questions for anyone who has started a coworking

space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!


Advertise your coworking spaces for FREE

http://www.myecodesk.com

You received this message because you are subscribed to the Google Groups “Coworking” group.

To post to this group, send email to [email protected].

To unsubscribe from this group, send email to [email protected].

For more options, visit this group at http://groups.google.com/group/coworking?hl=en.

Hey Thanks for the link Alex. I am reading your post now and it is
really detailed. Thanks for pointing it to me, it is a good
breakdown.

···

On Jan 31, 11:43 pm, Alex Hillman <[email protected]> wrote:

We shared a detailed "by the numbers" post for Indy Hall with Gigaom - and
then on our own blog - that you should be able to glean your numbers from:

http://www.indyhall.org/blog/2010/08/06/indy-hall-by-the-numbers/

Our smartest cost-saving measure was including our members in our buildout
process. We saved immensely on human labor for things like painting and
running network wires because members had interest in contributing to the
space construction - not only did this save us money, but it gave those
members an immensely strong bond to the space, and a sense of ownership that
is unparalleled. That process has saved us upfront costs as well as
long-term administrative costs, all of which allow us to keep our monthly
rates ridiculously low.

-Alex

/ah
indyhall.org
coworking in philadelphia

On Sun, Jan 30, 2011 at 11:33 PM, Michael <[email protected]> wrote:
> I was thinking about writing a blog article about the costs of
> starting a coworking space on my website and I thought what the hell?
> Why not just start a thread here and get actual feedback from people
> who have been through all this before. This way i can get some great
> material for a killer blog post and this can also be an informative
> thread for people who are thinking about opening their own coworking
> space.

> So here are my questions for anyone who has started a coworking
> space :

> 1)How much did it cost you to start your community coworking space?

> 2)What was the cost breakdown?

> 3)Were there any surprise costs which you never considered?

> 4)If you has to do it again how would you spend differently?

> 5)What were your smartest cost saving measures?

> 6)What is your biggest on-going cost?

> Please add any more questions you can think of!

> ----------------------------------------------------------------------
> Advertise your coworking spaces for FREE
>http://www.myecodesk.com

> --
> You received this message because you are subscribed to the Google Groups
> "Coworking" group.
> To post to this group, send email to [email protected].
> To unsubscribe from this group, send email to
> [email protected]<coworking%[email protected] .com>
> .
> For more options, visit this group at
>http://groups.google.com/group/coworking?hl=en.

Hey Blair, thanks for your feedback. How many people have contributed
to building and financing the construction of your space?

···

On Jan 31, 11:38 pm, Blair Gordon <[email protected]> wrote:

I am in the process of getting everything squared away for our space and I
too have found Ikea to be our best friend when it comes to a bootstrapped
budget. I think the approx cost for a desk, chair, chair mat and storage
was $250 or something like that and they look 10 times better than anything
else.
If anyone has advice for me i appreciate it

Blair
MindWorx CoWorx

Hey Jack,

Thanks for your detailed response, I really appreciate it.

Right now I am looking to write something which is more of a helpful
article, rather than anything too scholarly. I understand that when it
comes to opening up a coworking space many factors (location;time;size
of community etc.) will effect how much it is going to cost to set up.
I would like to give the would-be coworking space founder a simple
idea of what kind of costs are expected when opening up a coworking
space. It is always great to have some examples from people who have
experience doing it and I thank you, Alex and Blair for giving them.

I did not initially consider ongoing costs for marketing and sales
related activities, but I guess for coworking spaces which are not
founded on an already established community they must be pretty
important too.

Did you have a community ready when you started or did you have to
build it?

···

On Jan 31, 11:29 pm, Jack Speranza <[email protected]> wrote:

Hi Michael --

I suspect the responses you're going to get on this will be wide
ranging -- and they should be, as start-up costs will very much be a
function of the location, size and objectives of each space. Also,
you're going to need to translate the info you get into "apples to
apples" comparisons for the data to be valid... for example, many
folks who don't come at this from a business / accounting background
will attribute both capital and operating expenses to "costs."

In terms of my own space, I have chosen to bootstrap my endeavor.
Consequently, my initial capital investment was limited, and I am
using operational revenues to pay for additional capital needs as the
community grows. I did not have to undertake any leasehold
improvements in my space. A portion of my furnishings and equipment
were cannibalized from another business, and IKEA is my friend for
what I have opted to purchase. My total investment for capital items
thus far is under $1,750 for a 1,000 square foot suburban space
outside of Boston that maxes out at 10 concurrent users.

Do you consider ongoing "costs" for marketing and sales-related
activities part of the information you're looking to collect? If so,
then how would you like to measure these (annualized gross costs or in
some other fashion)? My pre-opening marketing expenses were very
limited -- about $250 for some flyers, brochures and digital ads.

As of the end of January, my space will have been operating for 4
months. In terms of operational performance, we're almost at break-
even (and even that's a bit misleading, as I haven't really been
marketing aggressively).

Hope this is helpful.

Jack
----------------------------------------------
Jack Speranza
Principal, Main Street Ventures
15 Main Street, 2nd Floor
Hopkinton, MA 01748
T: 508.858.5440 x101
F: 508.858.5441
Toll Free: 866.472.1035http://mainstreetventures.comhttp://zenbungalow.com
----------------------------------------------

On Jan 30, 11:33 pm, Michael <[email protected]> wrote:

> I was thinking about writing a blog article about the costs of
> starting a coworking space on my website and I thought what the hell?
> Why not just start a thread here and get actual feedback from people
> who have been through all this before. This way i can get some great
> material for a killer blog post and this can also be an informative
> thread for people who are thinking about opening their own coworking
> space.

> So here are my questions for anyone who has started a coworking
> space :

> 1)How much did it cost you to start your community coworking space?

> 2)What was the cost breakdown?

> 3)Were there any surprise costs which you never considered?

> 4)If you has to do it again how would you spend differently?

> 5)What were your smartest cost saving measures?

> 6)What is your biggest on-going cost?

> Please add any more questions you can think of!

> ----------------------------------------------------------------------
> Advertise your coworking spaces for FREEhttp://www.myecodesk.com

Hi,

check this out.

http://www.editgrid.com/user/harro33/shared_office_model

···

On Feb 1, 1:26 pm, Michael <[email protected]> wrote:

Hey Jack,

Thanks for your detailed response, I really appreciate it.

Right now I am looking to write something which is more of a helpful
article, rather than anything too scholarly. I understand that when it
comes to opening up a coworking space many factors (location;time;size
of community etc.) will effect how much it is going to cost to set up.
I would like to give the would-be coworking space founder a simple
idea of what kind of costs are expected when opening up a coworking
space. It is always great to have some examples from people who have
experience doing it and I thank you, Alex and Blair for giving them.

I did not initially consider ongoing costs for marketing and sales
related activities, but I guess for coworking spaces which are not
founded on an already established community they must be pretty
important too.

Did you have a community ready when you started or did you have to
build it?

On Jan 31, 11:29 pm, Jack Speranza <[email protected]> > wrote:

> Hi Michael --

> I suspect the responses you're going to get on this will be wide
> ranging -- and they should be, as start-up costs will very much be a
> function of the location, size and objectives of each space. Also,
> you're going to need to translate the info you get into "apples to
> apples" comparisons for the data to be valid... for example, many
> folks who don't come at this from a business / accounting background
> will attribute both capital and operating expenses to "costs."

> In terms of my own space, I have chosen to bootstrap my endeavor.
> Consequently, my initial capital investment was limited, and I am
> using operational revenues to pay for additional capital needs as the
> community grows. I did not have to undertake any leasehold
> improvements in my space. A portion of my furnishings and equipment
> were cannibalized from another business, and IKEA is my friend for
> what I have opted to purchase. My total investment for capital items
> thus far is under $1,750 for a 1,000 square foot suburban space
> outside of Boston that maxes out at 10 concurrent users.

> Do you consider ongoing "costs" for marketing and sales-related
> activities part of the information you're looking to collect? If so,
> then how would you like to measure these (annualized gross costs or in
> some other fashion)? My pre-opening marketing expenses were very
> limited -- about $250 for some flyers, brochures and digital ads.

> As of the end of January, my space will have been operating for 4
> months. In terms of operational performance, we're almost at break-
> even (and even that's a bit misleading, as I haven't really been
> marketing aggressively).

> Hope this is helpful.

> Jack
> ----------------------------------------------
> Jack Speranza
> Principal, Main Street Ventures
> 15 Main Street, 2nd Floor
> Hopkinton, MA 01748
> T: 508.858.5440 x101
> F: 508.858.5441
> Toll Free: 866.472.1035http://mainstreetventures.comhttp://zenbungalow.com
> ----------------------------------------------

> On Jan 30, 11:33 pm, Michael <[email protected]> wrote:

> > I was thinking about writing a blog article about the costs of
> > starting a coworking space on my website and I thought what the hell?
> > Why not just start a thread here and get actual feedback from people
> > who have been through all this before. This way i can get some great
> > material for a killer blog post and this can also be an informative
> > thread for people who are thinking about opening their own coworking
> > space.

> > So here are my questions for anyone who has started a coworking
> > space :

> > 1)How much did it cost you to start your community coworking space?

> > 2)What was the cost breakdown?

> > 3)Were there any surprise costs which you never considered?

> > 4)If you has to do it again how would you spend differently?

> > 5)What were your smartest cost saving measures?

> > 6)What is your biggest on-going cost?

> > Please add any more questions you can think of!

> > ----------------------------------------------------------------------
> > Advertise your coworking spaces for FREEhttp://www.myecodesk.com

awesome thanks

···

On Tue, Feb 1, 2011 at 8:52 AM, kaan aksay [email protected] wrote:

Hi,

check this out.

http://www.editgrid.com/user/harro33/shared_office_model

On Feb 1, 1:26 pm, Michael [email protected] wrote:

Hey Jack,

Thanks for your detailed response, I really appreciate it.

Right now I am looking to write something which is more of a helpful

article, rather than anything too scholarly. I understand that when it

comes to opening up a coworking space many factors (location;time;size

of community etc.) will effect how much it is going to cost to set up.

I would like to give the would-be coworking space founder a simple

idea of what kind of costs are expected when opening up a coworking

space. It is always great to have some examples from people who have

experience doing it and I thank you, Alex and Blair for giving them.

I did not initially consider ongoing costs for marketing and sales

related activities, but I guess for coworking spaces which are not

founded on an already established community they must be pretty

important too.

Did you have a community ready when you started or did you have to

build it?

On Jan 31, 11:29 pm, Jack Speranza [email protected] > > > wrote:

Hi Michael –

I suspect the responses you’re going to get on this will be wide

ranging – and they should be, as start-up costs will very much be a

function of the location, size and objectives of each space. Also,

you’re going to need to translate the info you get into "apples to

apples" comparisons for the data to be valid… for example, many

folks who don’t come at this from a business / accounting background

will attribute both capital and operating expenses to “costs.”

In terms of my own space, I have chosen to bootstrap my endeavor.

Consequently, my initial capital investment was limited, and I am

using operational revenues to pay for additional capital needs as the

community grows. I did not have to undertake any leasehold

improvements in my space. A portion of my furnishings and equipment

were cannibalized from another business, and IKEA is my friend for

what I have opted to purchase. My total investment for capital items

thus far is under $1,750 for a 1,000 square foot suburban space

outside of Boston that maxes out at 10 concurrent users.

Do you consider ongoing “costs” for marketing and sales-related

activities part of the information you’re looking to collect? If so,

then how would you like to measure these (annualized gross costs or in

some other fashion)? My pre-opening marketing expenses were very

limited – about $250 for some flyers, brochures and digital ads.

As of the end of January, my space will have been operating for 4

months. In terms of operational performance, we’re almost at break-

even (and even that’s a bit misleading, as I haven’t really been

marketing aggressively).

Hope this is helpful.

Jack


Jack Speranza

Principal, Main Street Ventures

15 Main Street, 2nd Floor

Hopkinton, MA 01748

T: 508.858.5440 x101

F: 508.858.5441

Toll Free: 866.472.1035http://mainstreetventures.comhttp://zenbungalow.com


On Jan 30, 11:33 pm, Michael [email protected] wrote:

I was thinking about writing a blog article about the costs of

starting a coworking space on my website and I thought what the hell?

Why not just start a thread here and get actual feedback from people

who have been through all this before. This way i can get some great

material for a killer blog post and this can also be an informative

thread for people who are thinking about opening their own coworking

space.

So here are my questions for anyone who has started a coworking

space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!


Advertise your coworking spaces for FREEhttp://www.myecodesk.com

You received this message because you are subscribed to the Google Groups “Coworking” group.

To post to this group, send email to [email protected].

To unsubscribe from this group, send email to [email protected].

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Blair James Gordon

[email protected]
Cell-(614) 359-2504

Office-(614) 859-9103
Office-(614) 285-SIGN

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Hi Michael --

Didn't mean to suggest a scholarly approach to your article, just a
recognition that "costs" will have different meanings to different
people, and to make the info you relate both relevant and valid,
something you want to be thinking about / clarifying as you go through
this data gathering process rather than trying to figure it all out
after the fact :wink:

In any event, to answer your direct question, I did reach out to a
number of folks and organizations prior to opening before opening my
space, and was able to obtain a small handful of folks to join once we
opened the doors. Right now, I'm in the process of looking to grow
the community, but I haven't been able to give this the attention it
deserves due to other commitments. That said, the folks working in
the space right now have been great evangelists... all I really need
to do is harness a lot of what they are doing on their own, put a
little more strategic direction behind it, and we should be able to
fill out pretty quickly.

I'd be surprised if any of the existing spaces haven't found a need
for some form of ongoing marketing efforts (doesn't have to be "paid,"
but the time involved to maintain Craigslist postings, tweeting,
blogging and hosting events essentially all boils down to ongoing
marketing efforts and comes with a "cost"). In my opinion, if you're
not accounting for the time involved in creating and maintaining this
ongoing "free advertising" -- even if the time is volunteered -- then
you're not truly measuring your cost of operations or able to evaluate
the true sustainability of the business.

···

----------------------------------------------
Jack Speranza
Principal, Main Street Ventures
15 Main Street, 2nd Floor
Hopkinton, MA 01748
T: 508.858.5440 x101
F: 508.858.5441
Toll Free: 866.472.1035
http://mainstreetventures.com
http://zenbungalow.com
----------------------------------------------

On Feb 1, 6:26 am, Michael <[email protected]> wrote:

Hey Jack,

Thanks for your detailed response, I really appreciate it.

Right now I am looking to write something which is more of a helpful
article, rather than anything too scholarly. I understand that when it
comes to opening up a coworking space many factors (location;time;size
of community etc.) will effect how much it is going to cost to set up.
I would like to give the would-be coworking space founder a simple
idea of what kind of costs are expected when opening up a coworking
space. It is always great to have some examples from people who have
experience doing it and I thank you, Alex and Blair for giving them.

I did not initially consider ongoing costs for marketing and sales
related activities, but I guess for coworking spaces which are not
founded on an already established community they must be pretty
important too.

Did you have a community ready when you started or did you have to
build it?

That editgrid spreadsheet looks really helpful, thanks for sharing it. Is there an easy way of changing the currency?

Hi,

check this out.

http://www.editgrid.com/user/harro33/shared_office_model

Hey Jack,

Thanks for your detailed response, I really appreciate it.

Right now I am looking to write something which is more of a helpful
article, rather than anything too scholarly. I understand that when it
comes to opening up a coworking space many factors (location;time;size
of community etc.) will effect how much it is going to cost to set up.
I would like to give the would-be coworking space founder a simple
idea of what kind of costs are expected when opening up a coworking
space. It is always great to have some examples from people who have
experience doing it and I thank you, Alex and Blair for giving them.

I did not initially consider ongoing costs for marketing and sales
related activities, but I guess for coworking spaces which are not
founded on an already established community they must be pretty
important too.

Did you have a community ready when you started or did you have to
build it?

Hi Michael –

I suspect the responses you’re going to get on this will be wide
ranging – and they should be, as start-up costs will very much be a
function of the location, size and objectives of each space. Also,
you’re going to need to translate the info you get into “apples to
apples” comparisons for the data to be valid… for example, many
folks who don’t come at this from a business / accounting background
will attribute both capital and operating expenses to “costs.”

In terms of my own space, I have chosen to bootstrap my endeavor.
Consequently, my initial capital investment was limited, and I am
using operational revenues to pay for additional capital needs as the
community grows. I did not have to undertake any leasehold
improvements in my space. A portion of my furnishings and equipment
were cannibalized from another business, and IKEA is my friend for
what I have opted to purchase. My total investment for capital items
thus far is under $1,750 for a 1,000 square foot suburban space
outside of Boston that maxes out at 10 concurrent users.

Do you consider ongoing “costs” for marketing and sales-related
activities part of the information you’re looking to collect? If so,
then how would you like to measure these (annualized gross costs or in
some other fashion)? My pre-opening marketing expenses were very
limited – about $250 for some flyers, brochures and digital ads.

As of the end of January, my space will have been operating for 4
months. In terms of operational performance, we’re almost at break-
even (and even that’s a bit misleading, as I haven’t really been
marketing aggressively).

Hope this is helpful.

Jack

Jack Speranza
Principal, Main Street Ventures
15 Main Street, 2nd Floor
Hopkinton, MA 01748
T: 508.858.5440 x101
F: 508.858.5441
Toll Free: 866.472.1035http://mainstreetventures.comhttp://zenbungalow.com

I was thinking about writing a blog article about the costs of
starting a coworking space on my website and I thought what the hell?
Why not just start a thread here and get actual feedback from people
who have been through all this before. This way i can get some great
material for a killer blog post and this can also be an informative
thread for people who are thinking about opening their own coworking
space.

So here are my questions for anyone who has started a coworking
space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!


Advertise your coworking spaces for FREEhttp://www.myecodesk.com


You received this message because you are subscribed to the Google Groups “Coworking” group.
To post to this group, send email to [email protected].
To unsubscribe from this group, send email to [email protected].
For more options, visit this group at http://groups.google.com/group/coworking?hl=en.

David Garvin

[email protected]

01473 212200

www.visitgmd.com

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···

On 1 Feb 2011, at 13:52, kaan aksay wrote:

On Feb 1, 1:26 pm, Michael [email protected] wrote:

On Jan 31, 11:29 pm, Jack Speranza [email protected] > > wrote:

On Jan 30, 11:33 pm, Michael [email protected] wrote:

I have changed manually:(

···

On Feb 2, 1:33 pm, David Garvin <[email protected]> wrote:

That editgrid spreadsheet looks really helpful, thanks for sharing
it. Is there an easy way of changing the currency?

On 1 Feb 2011, at 13:52, kaan aksay wrote:

> Hi,

> check this out.

>http://www.editgrid.com/user/harro33/shared_office_model

> On Feb 1, 1:26 pm, Michael <[email protected]> wrote:
>> Hey Jack,

>> Thanks for your detailed response, I really appreciate it.

>> Right now I am looking to write something which is more of a helpful
>> article, rather than anything too scholarly. I understand that when
>> it
>> comes to opening up a coworking space many factors
>> (location;time;size
>> of community etc.) will effect how much it is going to cost to set
>> up.
>> I would like to give the would-be coworking space founder a simple
>> idea of what kind of costs are expected when opening up a coworking
>> space. It is always great to have some examples from people who have
>> experience doing it and I thank you, Alex and Blair for giving them.

>> I did not initially consider ongoing costs for marketing and sales
>> related activities, but I guess for coworking spaces which are not
>> founded on an already established community they must be pretty
>> important too.

>> Did you have a community ready when you started or did you have to
>> build it?

>> On Jan 31, 11:29 pm, Jack Speranza > >> <[email protected]> > >> wrote:

>>> Hi Michael --

>>> I suspect the responses you're going to get on this will be wide
>>> ranging -- and they should be, as start-up costs will very much be a
>>> function of the location, size and objectives of each space. Also,
>>> you're going to need to translate the info you get into "apples to
>>> apples" comparisons for the data to be valid... for example, many
>>> folks who don't come at this from a business / accounting background
>>> will attribute both capital and operating expenses to "costs."

>>> In terms of my own space, I have chosen to bootstrap my endeavor.
>>> Consequently, my initial capital investment was limited, and I am
>>> using operational revenues to pay for additional capital needs as
>>> the
>>> community grows. I did not have to undertake any leasehold
>>> improvements in my space. A portion of my furnishings and equipment
>>> were cannibalized from another business, and IKEA is my friend for
>>> what I have opted to purchase. My total investment for capital
>>> items
>>> thus far is under $1,750 for a 1,000 square foot suburban space
>>> outside of Boston that maxes out at 10 concurrent users.

>>> Do you consider ongoing "costs" for marketing and sales-related
>>> activities part of the information you're looking to collect? If
>>> so,
>>> then how would you like to measure these (annualized gross costs
>>> or in
>>> some other fashion)? My pre-opening marketing expenses were very
>>> limited -- about $250 for some flyers, brochures and digital ads.

>>> As of the end of January, my space will have been operating for 4
>>> months. In terms of operational performance, we're almost at break-
>>> even (and even that's a bit misleading, as I haven't really been
>>> marketing aggressively).

>>> Hope this is helpful.

>>> Jack
>>> ----------------------------------------------
>>> Jack Speranza
>>> Principal, Main Street Ventures
>>> 15 Main Street, 2nd Floor
>>> Hopkinton, MA 01748
>>> T: 508.858.5440 x101
>>> F: 508.858.5441
>>> Toll Free: 866.472.1035http://mainstreetventures.comhttp://
>>> zenbungalow.com
>>> ----------------------------------------------

>>> On Jan 30, 11:33 pm, Michael <[email protected]> wrote:

>>>> I was thinking about writing a blog article about the costs of
>>>> starting a coworking space on my website and I thought what the
>>>> hell?
>>>> Why not just start a thread here and get actual feedback from
>>>> people
>>>> who have been through all this before. This way i can get some
>>>> great
>>>> material for a killer blog post and this can also be an informative
>>>> thread for people who are thinking about opening their own
>>>> coworking
>>>> space.

>>>> So here are my questions for anyone who has started a coworking
>>>> space :

>>>> 1)How much did it cost you to start your community coworking space?

>>>> 2)What was the cost breakdown?

>>>> 3)Were there any surprise costs which you never considered?

>>>> 4)If you has to do it again how would you spend differently?

>>>> 5)What were your smartest cost saving measures?

>>>> 6)What is your biggest on-going cost?

>>>> Please add any more questions you can think of!

>>>> ----------------------------------------------------------------------
>>>> Advertise your coworking spaces for FREEhttp://www.myecodesk.com

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01473 212200www.visitgmd.com

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Hi,

I manage a network of coworking spaces in Portugal, e have to spaces,
one in Braga and another one in Lisbon.

The cost of our coworking space investment were envolved in a much
larger investment in a Business Center, because coworking is only one
of a wide variety of services that we provide for companies.

In Braga we invested 5Meuros, in buying and building our facilities.
In a building that has 10.000 m2.

I think that a facility that has only coworking does not provide a
good image to coworkers, because they need that their visitants assume
that the coworker has a backoffice that is able to provide all their
client needs..

If a visitant enters our Business Center, to a meeting with our
cowworker client, he doesn't hnow that the coworker is in a coworking
space, because the meeting is in our meeting rooms, used also by
larger companies...

to see our concept, look in:
http://www.ideia-atlantico.pt/Servicos-Solucoes/espaco-nomada-open-space-empreendedores.html

···

On Jan 31, 4:33 am, Michael <[email protected]> wrote:

I was thinking about writing a blog article about the costs of
starting a coworking space on my website and I thought what the hell?
Why not just start a thread here and get actual feedback from people
who have been through all this before. This way i can get some great
material for a killer blog post and this can also be an informative
thread for people who are thinking about opening their own coworking
space.

So here are my questions for anyone who has started a coworking
space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!

----------------------------------------------------------------------
Advertise your coworking spaces for FREEhttp://www.myecodesk.com

Jack,

Once again thanks for your insight and sorry for my late reply. I live
in Beijing at the moment and it is Chinese New Year so everyone is on
holidays. I still have the sound of fireworks ringing in my head!

I do agree with what you are saying about marketing. When i write my
piece I am definitely going to put it in as an ongoing cost.You are
right that free marketing can be done but there is also a time cost to
the whole thing. At the moment, with my website i spend half my time
tweeting, writing blog comments, blog posts and anything else to get
some attention. Although it is free, it is not easy, especially
getting noticed.

One thing I have really taken from this thread and something which I
am going to talk about is the whole community support aspect of
starting a coworking space. As I see it there seems to be two
different kinds of coworking spaces, those which were founded around a
solid community and those which were started before a community was
created. I think this is really a big thing when it comes to the cost
of starting a space.

···

-----------------------------------------------
Advertise/Find Coworking Spaces for FREE on Myecodesk.com
http://www.myecodesk.com

On Feb 2, 1:43 am, Jack Speranza <[email protected]> wrote:

Hi Michael --

Didn't mean to suggest a scholarly approach to your article, just a
recognition that "costs" will have different meanings to different
people, and to make the info you relate both relevant and valid,
something you want to be thinking about / clarifying as you go through
this data gathering process rather than trying to figure it all out
after the fact :wink:

In any event, to answer your direct question, I did reach out to a
number of folks and organizations prior to opening before opening my
space, and was able to obtain a small handful of folks to join once we
opened the doors. Right now, I'm in the process of looking to grow
the community, but I haven't been able to give this the attention it
deserves due to other commitments. That said, the folks working in
the space right now have been great evangelists... all I really need
to do is harness a lot of what they are doing on their own, put a
little more strategic direction behind it, and we should be able to
fill out pretty quickly.

I'd be surprised if any of the existing spaces haven't found a need
for some form of ongoing marketing efforts (doesn't have to be "paid,"
but the time involved to maintain Craigslist postings, tweeting,
blogging and hosting events essentially all boils down to ongoing
marketing efforts and comes with a "cost"). In my opinion, if you're
not accounting for the time involved in creating and maintaining this
ongoing "free advertising" -- even if the time is volunteered -- then
you're not truly measuring your cost of operations or able to evaluate
the true sustainability of the business.

----------------------------------------------
Jack Speranza
Principal, Main Street Ventures
15 Main Street, 2nd Floor
Hopkinton, MA 01748
T: 508.858.5440 x101
F: 508.858.5441
Toll Free: 866.472.1035http://mainstreetventures.comhttp://zenbungalow.com
----------------------------------------------

On Feb 1, 6:26 am, Michael <[email protected]> wrote:

> Hey Jack,

> Thanks for your detailed response, I really appreciate it.

> Right now I am looking to write something which is more of a helpful
> article, rather than anything too scholarly. I understand that when it
> comes to opening up a coworking space many factors (location;time;size
> of community etc.) will effect how much it is going to cost to set up.
> I would like to give the would-be coworking space founder a simple
> idea of what kind of costs are expected when opening up a coworking
> space. It is always great to have some examples from people who have
> experience doing it and I thank you, Alex and Blair for giving them.

> I did not initially consider ongoing costs for marketing and sales
> related activities, but I guess for coworking spaces which are not
> founded on an already established community they must be pretty
> important too.

> Did you have a community ready when you started or did you have to
> build it?

Hi Hamc,

Thanks for your insights. Wow you have a space that is 10000m2, that
is pretty huge! What is your capacity?

···

-----------------------------------------------
Advertise/Find Coworking Spaces for FREE on Myecodesk.com
http://www.myecodesk.com

On Feb 3, 8:40 pm, hamc <[email protected]> wrote:

Hi,

I manage a network of coworking spaces in Portugal, e have to spaces,
one in Braga and another one in Lisbon.

The cost of our coworking space investment were envolved in a much
larger investment in a Business Center, because coworking is only one
of a wide variety of services that we provide for companies.

In Braga we invested 5Meuros, in buying and building our facilities.
In a building that has 10.000 m2.

I think that a facility that has only coworking does not provide a
good image to coworkers, because they need that their visitants assume
that the coworker has a backoffice that is able to provide all their
client needs..

If a visitant enters our Business Center, to a meeting with our
cowworker client, he doesn't hnow that the coworker is in a coworking
space, because the meeting is in our meeting rooms, used also by
larger companies...

to see our concept, look in:http://www.ideia-atlantico.pt/Servicos-Solucoes/espaco-nomada-open-sp...

On Jan 31, 4:33 am, Michael <[email protected]> wrote:

> I was thinking about writing a blog article about the costs of
> starting a coworking space on my website and I thought what the hell?
> Why not just start a thread here and get actual feedback from people
> who have been through all this before. This way i can get some great
> material for a killer blog post and this can also be an informative
> thread for people who are thinking about opening their own coworking
> space.

> So here are my questions for anyone who has started a coworking
> space :

> 1)How much did it cost you to start your community coworking space?

> 2)What was the cost breakdown?

> 3)Were there any surprise costs which you never considered?

> 4)If you has to do it again how would you spend differently?

> 5)What were your smartest cost saving measures?

> 6)What is your biggest on-going cost?

> Please add any more questions you can think of!

> ----------------------------------------------------------------------
> Advertise your coworking spaces for FREEhttp://www.myecodesk.com

Hi,

Great post. Thanks to all of you. Unfortunatelly the link doesn’t work anymore. Is it still possible to get these information about the costs ?

Cheers.

Gaetan

···

On Monday, January 31, 2011 at 4:43:07 PM UTC+1, Alex Hillman wrote:

We shared a detailed “by the numbers” post for Indy Hall with Gigaom - and then on our own blog - that you should be able to glean your numbers from:

http://www.indyhall.org/blog/2010/08/06/indy-hall-by-the-numbers/

Our smartest cost-saving measure was including our members in our buildout process. We saved immensely on human labor for things like painting and running network wires because members had interest in contributing to the space construction - not only did this save us money, but it gave those members an immensely strong bond to the space, and a sense of ownership that is unparalleled. That process has saved us upfront costs as well as long-term administrative costs, all of which allow us to keep our monthly rates ridiculously low.

-Alex

/ah
indyhall.org
coworking in philadelphia

On Sun, Jan 30, 2011 at 11:33 PM, Michael [email protected] wrote:

I was thinking about writing a blog article about the costs of

starting a coworking space on my website and I thought what the hell?

Why not just start a thread here and get actual feedback from people

who have been through all this before. This way i can get some great

material for a killer blog post and this can also be an informative

thread for people who are thinking about opening their own coworking

space.

So here are my questions for anyone who has started a coworking

space :

1)How much did it cost you to start your community coworking space?

2)What was the cost breakdown?

3)Were there any surprise costs which you never considered?

4)If you has to do it again how would you spend differently?

5)What were your smartest cost saving measures?

6)What is your biggest on-going cost?

Please add any more questions you can think of!


Advertise your coworking spaces for FREE

http://www.myecodesk.com

You received this message because you are subscribed to the Google Groups “Coworking” group.

To post to this group, send email to [email protected].

To unsubscribe from this group, send email to [email protected].

For more options, visit this group at http://groups.google.com/group/coworking?hl=en.

Yup and with way more detail here: https://dangerouslyawesome.com/2012/01/how-much-does-it-cost-to-start-a-coworking-space/

···

On Aug 2, 2018, 8:08 PM -0400, Gaetan Van Wylick <[email protected]>, wrote:

Hi,

Great post. Thanks to all of you. Unfortunatelly the link doesn't work anymore. Is it still possible to get these information about the costs ?

Cheers.

Gaetan

On Monday, January 31, 2011 at 4:43:07 PM UTC+1, Alex Hillman wrote:
> We shared a detailed "by the numbers" post for Indy Hall with Gigaom - and then on our own blog - that you should be able to glean your numbers from:
>
> http://www.indyhall.org/blog/2010/08/06/indy-hall-by-the-numbers/
>
> Our smartest cost-saving measure was including our members in our buildout process. We saved immensely on human labor for things like painting and running network wires because members had interest in contributing to the space construction - not only did this save us money, but it gave those members an immensely strong bond to the space, and a sense of ownership that is unparalleled. That process has saved us upfront costs as well as long-term administrative costs, all of which allow us to keep our monthly rates ridiculously low.
>
> -Alex
>
>
>
> /ah
> indyhall.org
> coworking in philadelphia
>
>
> > On Sun, Jan 30, 2011 at 11:33 PM, Michael <[email protected]> wrote:
> > > I was thinking about writing a blog article about the costs of
> > > starting a coworking space on my website and I thought what the hell?
> > > Why not just start a thread here and get actual feedback from people
> > > who have been through all this before. This way i can get some great
> > > material for a killer blog post and this can also be an informative
> > > thread for people who are thinking about opening their own coworking
> > > space.
> > >
> > > So here are my questions for anyone who has started a coworking
> > > space :
> > >
> > > 1)How much did it cost you to start your community coworking space?
> > >
> > > 2)What was the cost breakdown?
> > >
> > > 3)Were there any surprise costs which you never considered?
> > >
> > > 4)If you has to do it again how would you spend differently?
> > >
> > > 5)What were your smartest cost saving measures?
> > >
> > > 6)What is your biggest on-going cost?
> > >
> > > Please add any more questions you can think of!
> > >
> > > ----------------------------------------------------------------------
> > > Advertise your coworking spaces for FREE
> > > http://www.myecodesk.com
> > >
> > > --
> > > You received this message because you are subscribed to the Google Groups "Coworking" group.
> > > To post to this group, send email to [email protected].
> > > To unsubscribe from this group, send email to [email protected].
> > > For more options, visit this group at http://groups.google.com/group/coworking?hl=en.
> > >
>
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