Gerard,
I find your "sliding rental" program an interesting concept. Care to
share more on it?
How did it came about? How was introduced to the landlords? What
challenges if any have you found in applying such a program? And it
came to tracking the number of members vs what is reported to the
landlord - what structure did you use?
Much Appreciated for taking the time to answer these,
--
Tm Mahdi
Director & Founder, Cg6 Inc.
unlocking the creative markets.
toronto: studio 207 - 201 weston road, ontario m6n 3p1 canada |
http://twitter.com/Cg6Inc
co | 1416.238.6881 w | www.cg6.com my | cvfolio.cg6.com/
tm.mahdi/ | about.me/tm.mahdi e | [email protected]
get your own Movable Ink
On 1-Aug-11, at 4:28 PM, gerard sychay wrote:
David,
10% sounds reasonable if you are looking to make a big profit. But
if your goal is to only break even on coworking, then wouldn't 90%
of your income going towards your lease be okay, with the rest going
towards other fixed expenses?
Twice now, we have created a lease with a sliding rent. The more
members we had, the more rent we pay, up to a fixed point. This
allowed us to get started quickly which was good for both ourselves
and the owners who were happy to fill some vacant space. Independent
owners will probably be more flexible about this than property
management companies, but everything in commercial leasing (and in
life, I guess) is negotiable.
Hope this helps. To give you another sample point, we have 2100
sqft. We pay $175/full-time member and cap out at paying for 12 full-
time members (there's space for 20 desks). So for 6 members, our
rent was $1050 ($6/sqft). For 12, we will pay $2100 ($12/sqft).
Our utilities are about $250/month. Other fixed expenses: internet,
insurance, janitorial, but those are all $125/month or less. Our
full-time membership rate is $250/month.
Gerard
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