We’ve always intended to release our numbers but we’ve been too young to actually have enough data to do anything with. Cohere Bandwidth: rock solid rehearsal space is now 8 months old. We built community and awareness from Feb 2013 to now and didn’t open until June of 2015.
Caveats: our rent is super low for where we are in Fort Collins, CO. We’re in a real estate boom again. The first Cohere (coworking) location opened just 1/2 block from where Bandwidth is 6 years ago. We paid $12/ft2 gross for a 1,000 ft space. Fast forward 6 years and the going rate for commercial real estate is now somewhere between $24-$35/ft2 depending. We pay just under $12/ft2 + $600/month repaying our landlord for $120,000 buildout over the course of 10 years. So, we have a sweet deal. Unheard of really and frankly the only thing that keeps us going.
We have yet to see an excess in revenue for any given month. Luckily the Cohere office space is doing REALLY well and is Bandwidth’s sugar momma right now. Enjoy the post and wait a hot second for the big infographic to load. http://coherebandwidth.com/blog/backstage-pass-stats-financials/