Thank you to everyone who participated in this webinar- it was a great introduction to the idea of joint-venturing with a landlord. It also shed some light on how the large spaces in NYC and Santa Monica may afford to run out of those gorgeous buildings.
I've been building my community for CoStudio Pasadena for a few years and for this cooperative art studio concept to work I'll need a lot of space. I have a historic building in mind with 15,000 sq ft of glorious warehouse space- the landlord is on board with my idea, the rent is good for this expensive city ($2sf/month), and he will even let me runway the build-out; but no matter how I finesse my P&L estimates, it's just too dang much rent. (By my cautious P&L estimate, rent would be 2/3rds of my revenue! One bad month and I'd be in big trouble.) It didn't occur to me to actually partner with him. So here are my questions: How does the 50/50 partnership actually work- would I really propose he give me the space rent-free in exchange for half my revenues? How could I pitch this to him knowing it will take a year+ to get to capacity and for him to actually* get* any revenue? Are there any examples of contracts with landlords that someone could share? Problems to look out for? (ie: My potential landlord prefers month-to-month- is that a big risk or a good escape route?) Finally, I keep reading in this group about nice big spaces in suburbs and smaller cities with rents that run $2,000 to $5,000, which would cover a small office here; are there any coworking places that pay more like $20,000 and up per month and how does that formula work? Many thanks for the webinar and the ideas! ~Loren On Monday, January 12, 2015 at 8:13:30 AM UTC-8, Jerome wrote: > > Hi all. > > The webinar is available on the event listing. > > http://lexc.org/event/lexc-webinar-joint-ventures-wlandlords/?instance_id=91 > > (link is at the bottom of the page) > > > *JEROME CHANG* > > *WEST: Santa Monica* > 1450 2nd Street (@Broadway) | Santa Monica CA 90401 > ph: (310) 526-2255 > > *CENTRAL: Mid-Wilshire* > 5405 Wilshire Blvd (2 blocks west of La Brea) | Los Angeles CA 90036 > ph: (323) 330-9505 > > *EAST: Downtown* > 529 S. Broadway, Suite 4000 (@Pershing Square) | Los Angeles CA 90013 > ph: (213) 550-2235 > > > <http://www.yelp.com/biz/blankspaces-los-angeles> > <https://twitter.com/BLANKSPACES> > <https://www.facebook.com/pages/BLANKSPACES/132257631339> > <https://www.facebook.com/pages/BLANKSPACES/132257631339> > <http://www.linkedin.com/company/blankspaces?trk=top_nav_home> > <http://vimeo.com/blankspaces> > <http://vimeo.com/blankspaces> > On Jan 9, 2015, at 12:01 PM, Tabari Brannon <[email protected] > <javascript:>> wrote: > > I missed it as well, is there a recording? > > On Friday, January 9, 2015 at 12:34:46 AM UTC-8, Ramon Suarez wrote: >> >> I found out about it too late. Did you guys record it? > > > -- > 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] <javascript:>. > 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.
