Matt, Thank you so much for sharing this information. I have been working on my business and financial model to open a coworking space in Portland, Oregon so this is very timely. It also reinforces what I am seeing in my initial pass, which is "how can something so right be so unprofitable?" Portland office space costs don't help where we have to pay $20-25/sf/yr for anything desirable. So for 6,500 sf I am looking at $10,000 just for rent. Memberships alone won't pay the bills.
My research has reinforced the market need for meeting space that is aesthetic, creative, and flexible. Basically, an alternative to the hotels that put you in a basement and force you to eat (and pay for) their food. I wonder if I should design my model to weigh more heavily on private offices, meeting space rental, and business support services over communal desk space. Obviously that is the nerve center for a community, but maybe shifts to 50% of the space/revenue. I guess I am interested in the communities advice for someone wanting to start a cowork business as their sole business and not have a side job to put food on the table. Thanks for any advice and for being so transparent with your experience! Dana On Friday, January 8, 2016 at 4:21:04 AM UTC-8, Matt D. wrote: > > Hey everyone. > > We just hit the 18-month mark, and we decided to take an honest look at > how we're doing. Turns out we've had some nice growth, but were still > losing money. > > We've laid it all out - data, financials and some honest analysis of > what's still gotdoing we're in our coworking business/operations in order > for us to find profitability - which we will! If you're interested, please > take a read: > > > http://www.theskillery.com/blog/2015/12/29/we-doubled-our-revenue-in-2015-but-were-still-losing-money-heres-why > > Hope you find it useful. Let me know if I can answer any questions! Thanks! > > -Matt @mattdudleytn, from The Skillery @theskillery > > -- 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 coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
