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/
Congrats, Angel! And thanks for the transparent sharings!
Tony
···
On Sat, Feb 27, 2016 at 10:56 AM, Angel Kwiatkowski [email protected] wrote:
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/
Thanks so much for sharing Angel! Transparency is much appreciated here and it certainly doesn’t look like you pulled any punches on sharing numbers. Most importantly, you’re honest and open about this being a long haul and not being profitable yet.
These are some fantastic infographics and they’re wonderfully embedded and animated on the page itself. Who did you work with and what tool did you use to create them?
A few questions about the member data:
How did you get the data on the $20/hour price being just right?
Do you have any data on how much easier this made their lives? Or how much more music they got to make or concerts they got to play as a result of Cohere Bandwidth? Any other awesome impacts this resource is having on people’s lives?
Thanks and great post Angel!
oren
···
On Saturday, February 27, 2016 at 11:56:55 AM UTC-6, Angel Kwiatkowski wrote:
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/
I used Infogr.am, a free tool to create the infographic. They have a paid version that allows you more control but I got by with the freebie and luckily, one of their themes closely matched my brand so blamo!
We hired a couple Cohere members to do old school market research before we opened on pricing. They actually landed on $14/hour as what our market could bear but that was misaligned with our bands’ desire to be in Old Town where rent is MUCH higher so we had to crank it up to cover our costs. We survey every new band that uses our space and ask this question, “The price per hour is: Too low, just right, too high”. We’ve only had 1 band circle Too High so far and no bands circle Too Low.
Gathering this data is way harder. We’re collecting survey data of new bands only right now and there is a write-in spot for productivity and best part about their rehearsal. Once I gather enough to have anything meaningful to say, I’ll put that out there! Everything else is anecdotal or interview based. We do know that we’ve saved one band from getting labelled as a Public Nuisance for noise violations at their house
···
On Tuesday, March 1, 2016 at 10:03:09 AM UTC-7, [email protected] wrote:
Thanks so much for sharing Angel! Transparency is much appreciated here and it certainly doesn’t look like you pulled any punches on sharing numbers. Most importantly, you’re honest and open about this being a long haul and not being profitable yet.
These are some fantastic infographics and they’re wonderfully embedded and animated on the page itself. Who did you work with and what tool did you use to create them?
A few questions about the member data:
How did you get the data on the $20/hour price being just right?
Do you have any data on how much easier this made their lives? Or how much more music they got to make or concerts they got to play as a result of Cohere Bandwidth? Any other awesome impacts this resource is having on people’s lives?
Thanks and great post Angel!
oren
On Saturday, February 27, 2016 at 11:56:55 AM UTC-6, Angel Kwiatkowski wrote:
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/
Ps. let’s make a date to hang out again now that you’re in the 'hood
···
On Monday, February 29, 2016 at 5:39:02 PM UTC-7, Tony Bacigalupo wrote:
Congrats, Angel! And thanks for the transparent sharings!
Tony
On Sat, Feb 27, 2016 at 10:56 AM, Angel Kwiatkowski [email protected] wrote:
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/
