Hi guys, Many of our (especially new space) customers and friends frequently ask us how to ramp up members to make their space profitable. We always tell them first you have to make a model how fast you think you can grow members, then you can decide how you get X number of members / month. Usually you sit on a lot of upfront cost so the break-even point is critical when calculating your cash burn and we came up with a simple model to visualize member growth.
But I assume many of you here in the group know this already that's why I'm posting our model for some feedback. https://docs.google.com/spreadsheets/d/1isPTJuLmQOfaOVN2uL0D5e-jnd6VmepjjnQvdPoU7jw/edit?usp=sharing It has a couple of flaws: - If you are a new space with 0 occupied desks, you'd have to input at least 1 member and a extremely high growth rate like 120x for it to make sense - The model assumes break even after 12 months and shows you how many members you need to add each month. But some spaces might be breaking even faster, like in 6 months. Currently you manually have to search for the month where your member revenue exceeds your operating cost. What do you think about this way of visualizing member growth in general? I think it's most valuable for spaces who have been open for 2 months, not so much for spaces in planning or already existing spaces +12months. -- 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.
