My rule of thumb: 3 or 4 x rent. If your market rent is $14 + $3 NNN, then $4.26/SF (= 3 x (14+3)/12).
Your 140sf office seems too cheap. Could be $600/mo. Your 325sf conference room could be $1385/mo! Jerome www.BLANKSPACES.com > On Apr 2, 2014, at 10:39 AM, "Becky H Smith, Ed.D." <[email protected]> > wrote: > > Alex, > Great article!!!!!!!!! > > I have a question for the "group". I have a nonprofit group called Adventure > Scientists for Conversation using our one available office. We charge $250 > a month for 140 sq. ft. He's now grown to 8 people and has asked to expand > into our small conference room, which is 325 sq. ft. We still have a larger > conference room that can be used for small or large groups. Right now, their > expanding group uses the small one too when not rented. > > I had one commercial realtor tell me to charge $14/sq. ft. plus triple net of > $3. Then a another realtor I have been working with in exploring downtown > space said my formula was all wrong. He came over and wrote out the > following: > Whole building sq. ft. = 5,250 > Blue Ocean Innovation Center - 2500 > Common Area in Blue Ocean - 1440 - large open work area and kitchen and couch > area > Common Area in Entry Way and two bathrooms and access to outdoor area - > approximately 510 sq. ft (shared by dental office in the other half > > We own the building and pay $8,000/year as a member of a two building > association for landscaping, parking, snow removal, trash/recycling. > We also pay $8500 in annual taxes for our building alone. > Coworkers get "free" printing and free color to a certain #, free coffee & > tea... > > The math formula provided by the last realtor said to figure out their > percentage of entire Blue Ocean space, the # of sq ft of Common Area Space > (CA), the triple net costs and come in with more square footage by percentage > of their space and CA usage, charget $12 per square ft and $3 triple net... > > Does anyone have a better formula or comments on the above. I could let them > us the conference room as they are and still charge more because they have > grown from 2-8 employees and not give it to them at all...it has to make > economic sense. Thank you! Becky, Founder > > > >> On Wed, Apr 2, 2014 at 2:08 AM, <[email protected]> wrote: >> Today's topic summary >> Group: http://groups.google.com/group/coworking/topics >> >> Who's tracking their membership churn? [4 Updates] >> Airbnb now offer hourly desk space booking! [6 Updates] >> Academic Coworking [2 Updates] >> How did you find your coworking space? [1 Update] >> How to approach a new market with the coworking concept? [1 Update] >> Who's tracking their membership churn? >> Alex Hillman <[email protected]> Apr 01 05:27PM -0400 >> >> As the business aphorism goes, it's a lot easier to keep an existing >> customer than it is to get a new one. >> >> I know there are a variety of systems out there that people are using, I'm >> ...more >> Back to top >> >> Jacob Sayles <[email protected]> Apr 01 02:43PM -0700 >> >> Fun stuff! Yes, we track this stuff in Nadine and have some staff facing >> stats pages that show us some basic data. I'd love to dive deeper and I'm >> always trying to recruit data nerds that want to ...more >> Back to top >> >> Glen Ferguson <[email protected]> Apr 01 06:03PM -0400 >> >> I recently started calculating average monthly recurring revenue, average >> member lifetime, average lifetime of past members, member lifetime value, % >> renewal rates (which is the opposite of churn, ...more >> Back to top >> >> rachel young <[email protected]> Apr 01 07:14PM -0400 >> >> We've tracked member usage since almost day 1, which was 4yrs ago, so we >> can see how long a member has been here, when their anniversary date is, >> and what their usage patterns are. ...more >> Back to top >> >> Airbnb now offer hourly desk space booking! >> [email protected] Apr 01 08:50AM >> >> airbrb.com really? >> >> -----Original Message----- >> From: Victoria Arnold <[email protected]> >> Sender: [email protected] >> Date: Tue, 1 Apr 2014 01:03:20 >> To: <[email protected]> ...more >> Back to top >> >> "Eric Y.F Lim" <[email protected]> Apr 01 04:59PM +0800 >> >> Very good idea! I tried to register my spare table ..... then I realized >> today is 1st April :D >> >> >> ...more >> Back to top >> >> Victoria Arnold <[email protected]> Apr 01 02:16AM -0700 >> >> haha yes! so did I... renting your desk while you're at the bathroom... >> talk about resource utilisation >> >> On Tuesday, 1 April 2014 09:59:27 UTC+1, Eric Y.F Lim wrote: >> ...more >> Back to top >> >> [email protected] Apr 01 09:18AM >> >> :) >> >> -----Original Message----- >> From: Victoria Arnold <[email protected]> >> Sender: [email protected] >> Date: Tue, 1 Apr 2014 02:16:41 >> To: <[email protected]> >> ...more >> Back to top >> >> "Christian M. Macy" <[email protected]> Apr 01 02:19PM -0700 >> >> But seriously has anyone found a good way to tie in with AirBnB so that >> when someone is visiting they know where they can go to work other than the >> living room or a coffee shop? >> ...more >> Back to top >> >> Rena Tom <[email protected]> Apr 01 02:34PM -0700 >> >> I talked to them well a year ago about something like this. They were >> starting a neighborhood ambassador program where people would be directed >> to the local coffee shop where they could learn the ...more >> Back to top >> >> Academic Coworking >> "Piotr Boulangé" <[email protected]> Apr 01 10:06AM -0700 >> >> This is very good paper for starters! and also the coworking space looks >> great. Nice website BTW >> Thank you for sahring. If I should have any question, I'll get back to you. >> >> PB >> ...more >> Back to top >> >> Soleil Onoya <[email protected]> Apr 01 10:50AM -0700 >> >> Hi Tamara, >> >> Thanks for sharing that link. It's quite informative and I really enjoyed >> reading it. >> >> Cheers, >> Soleil >> >> On Monday, March 31, 2014 8:02:19 AM UTC-7, Tamara Acosta wrote: >> ...more >> Back to top >> >> How did you find your coworking space? >> Barbara Sprenger <[email protected]> Apr 01 10:30AM -0700 >> >> Hi Karina, >> Where are you looking? We have a couple of amazing brokers. With both, we >> were satisfied with the deal, and they went even further -- getting us an >> even better deal! LoopNet is the ...more >> Back to top >> >> How to approach a new market with the coworking concept? >> Daniel Rivera <[email protected]> Apr 01 07:20AM -0700 >> >> Alex Hillman has a great article on focusing on your first 10. >> http://dangerouslyawesome.com/2011/09/how-to-fund-your-coworking-space/ >> >> I'm from South TX too, what is the name of your space? Can ...more >> Back to top >> >> -- >> Visit this forum on the web at http://discuss.coworking.com >> --- >> You received this message because you are subscribed to the Google Groups >> "Coworking" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to [email protected]. >> For more options, visit https://groups.google.com/d/optout. > > > > -- > Becky H. Smith, Ed.D., Founder > Blue Ocean Innovation Center > 1820 W. Lincoln St. > Bozeman, MT 59715 > 406-551-1262 > 406-579-2849 > [email protected] > [email protected] > <image001.gif> > This e-mail is a private communication and may contain confidential > information. > If you are not the intended recipient, please note that any disclosure, > copying, > distribution or use of the information contained in or attached to this > e-mail is strictly > prohibited. Please notify the sender of the delivery error by replying to > this message > and then delete this e-mail. Thank you. > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
