Chad: We researched this as we worked on DurangoSpace (prior to our Feb 1st opening this year).
Here are the rules of thumb we came across: For each coworker, you need about 100 SF, so our 2,600 SF DurangoSpace facility can handle about 20 to 25 people (coworking, meetings, casual space). And the usage rate, is about 3:1 or 2:1. So for 2,600SF, you can service 40 to 50 members, depending on how "crowded" or empty you are managing the space. Research show coworking or shared space occupation rates at 35% to 50% of members using the coworking space on any given day. For hard break even, we are using gross rent X 1.5 (to cover rent and utilities and basic costs). To make money we are figuring gross rent X 2.5 to 3.5. So how are we doing so far? Some months we have barely made rent and dug into start up funds for utilities. Last month we turned a small profit, but we still have a ways to go. Our pricing (see our web site), based on the formulas above: Daily Pass=$20/day 5-day (5% off), 10-day (10% off), 15-day (20%off) These are "open spaces" Monthly daily membership at $225/month, with a 24/7 at $265/month Semi-private (2 members per closed or private office) would be at $365/month. And we rent our private meeting and conference room space at member and non-member rates. Hope this helps... Jasper Jasper Welch & Nancy Wharton DurangoSpace LLC http://durangospace.com On Jul 27, 10:26 am, Chad Ballantyne <[email protected]> wrote: > Hi All, > > We've been doing open space membership plans for a while and now we're moving > to closed office options. > Right now a full-time member for an open desk is $300/mth Works out to $6/sf > But a closed office adds more value and how best to figure that out. Does > anyone have a formula to calculate? Another factor is multiple staff. We > know what we need to pay for the space, but wondered if there's a formula out > there to add our specific costs (lease, expenses, management, etc) and > therefor communicate cleary to potential members the difference between open > space and closed office. Thanks! > > Chad Ballantyne > The Creative Space Director > > (705) 252-2423www.thecreativespace.ca -- You received this message because you are subscribed to the Google Groups "Coworking" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/coworking?hl=en.
