Been doing a lot of research (reading, meeting, and talking) – Also looking at build-out costs. Nevertheless, we still are stuck with a small space ( about 800 ft open coworking and one 10x13 private space)
I had a designer tell me decorating, new furniture and space planning would run me $17-20,000 (our place is clean and has fresh paint now) –
Based on rent of about $8 per table ( we think we can have 10 --without making it tight)-- $80 /day --$240 month… plus private office $400 --that all seems too little.
So To ALL of YOU with Small Space, how do you make it work?
Thank you, ALL! If anyone has answers I know this is the forum to ask
I was reading a book on coworking that mention having your community involved in decorating and growing the space. Having them participate and donate to get furniture etc.
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On Tuesday, January 8, 2019 at 10:04:15 AM UTC-8, AK wrote:
Been doing a lot of research (reading, meeting, and talking) – Also looking at build-out costs. Nevertheless, we still are stuck with a small space ( about 800 ft open coworking and one 10x13 private space)
I had a designer tell me decorating, new furniture and space planning would run me $17-20,000 (our place is clean and has fresh paint now) –
Based on rent of about $8 per table ( we think we can have 10 --without making it tight)-- $80 /day --$240 month… plus private office $400 --that all seems too little.
So To ALL of YOU with Small Space, how do you make it work?
Thank you, ALL! If anyone has answers I know this is the forum to ask
I have a small space also. 11 desk, we seat can 25 at one time at desk and a few comfy chairs throughout. I have one small office we are going to advertise for office space and one meeting room that holds up to six. We added a virtual membership plan, which is popular and later this month we are adding late days. Our space is still new so we’ve been holding small events to allow people to gather in the space. And we’ve had a lot of inquiries about using the space for events.
First, $17-20k to outfit a 800 square foot space is absolutely unnecessary. It sounds like you’re talking to someone who does corporate space planning + design, and their budgets generally start around there.
But for a small coworking space (we started with ~1200 square feet), it just doesn’t make sense. You can do so much with simple DIY options and a little bit of creativity. Don’t be afraid of home finishes (so long as they aren’t junky) - I’m always looking for ways to mix the things that make homes cozy with the things that make a workplace productive. We pulled off our original fit out for under $2k worth of desks, chairs, etc. Just the necessities, then add niceties later and make it a constant collaborative improvement process with your members.
Second, I think your pricing model needs work I’m not sure how you came up with your price points, but they seem very low and if you’re scratching your head about sustainability…they are way too low.
My approach to figuring out a sustainable pricing model is to work backwards from a monthly and annual budget, and then divide by the number of members are realistic, to find the price point needed for profitability. Remember that you won’t be 100% occupied all the time, and that full time desks + day passes aren’t the only options.
Flip your approach around and I think you’ll find a simple, sustainable way to make this work!
-Alex
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The #1 mistake in community building is doing it by yourself.
Been doing a lot of research (reading, meeting, and talking) – Also looking at build-out costs. Nevertheless, we still are stuck with a small space ( about 800 ft open coworking and one 10x13 private space)
I had a designer tell me decorating, new furniture and space planning would run me $17-20,000 (our place is clean and has fresh paint now) –
Based on rent of about $8 per table ( we think we can have 10 --without making it tight)-- $80 /day --$240 month… plus private office $400 --that all seems too little.
So To ALL of YOU with Small Space, how do you make it work?
Thank you, ALL! If anyone has answers I know this is the forum to ask
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I’m not sure how you came up with your price points, but they seem very low and if you’re scratching your head about sustainability…they are way too low.