One key word that you can use that’s standard in the real estate world:
- “rev share”. This is common for retail stores inside malls. The more you earn, the more rent you pay.
Another is like the hotel industry, where a hotel brand/operator might…
- have a minority ownership stake in the building, but this requires the hotel to invest some $.
- win a bid to operate a hotel b/c the developer wanted a hotel from the start.
So here’s the main difference b/w hotels and coworking: developers want a hotel from the start, so they need an operator. Office developers mostly don’t want coworking initially, but now are considering it, which is more of a fix for their vacancy or rental income after the fact rather than initially.
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On Jul 6, 2018, at 10:25 AM, [email protected] wrote:
Hi group! I’ve been following all of your great questions and advice for a bit now. Thanks so much!
My business partner and I are still in the “planning and searching for a space” phase. Still so much to learn!
Since we do not have a large amount of capital to put in this business we are looking at all the options.
Has anyone entered into an agreement with a landlord where they are the owner and you are the operator/manager? Is it traditionally known by another term? We keep hearing about such arrangements but would love to hear about a specific example and what kind of terms might be acceptable.
You can read about the reference to the concept here (the second option in the article): https://www.globalworkspace.org/2016/03/three-ways-to-run-a-coworking-space-without-signing-a-lease/
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