To provide a little of a retail, financial perspective.
- First, we typically only host events during evenings and weekends.
- So, we have discounted, but only after understanding our labor and
other costs. You have to pay for our additional op ex to staff the late hours.
- We also know we earn a good 20% of our gross revenue from hourly and
daily business (consistently for 10 years now). Some may only earn 1-5% so
you’d be right that discounting may not be worth it.
- I do seek out recurring events, to both reduce cost of sales, but
also encourage appropriate events to contribute to the community, as we all
know, it takes a couple of times for members and others to participate. So they
contractually agree to multiple events in exchange for the discount. Win win
for me.
Just know your goals and reasons and the decision will be clearer.
JEROME CHANG <>
talk to us: (323) 330-9505 <>
chat w/ us: <>http://www.BLANKSPACES.com/chat <https://lc.chat/now/7173741/>
WEST: Santa Monica <> | <>1450 2nd St (@Broadway)
CENTRAL: Culver City <> | <>9415 Culver Blvd (@Main St)
EAST: Downtown LA <> | <>529 S Broadway (@Pershing Sq)
NORTH: Pasadena <> | <>680 E. Colorado, Ste 180 (b/w Lake and Los Robles)
SOUTH: Long Beach <> | <>309 Pine Ave (@Broadway) - opening Summer 2018
> On May 30, 2018, at 8:07 AM, Alex Hillman <dangerouslyawes...@gmail.com>
> wrote:
>
> "never lower your price, increase your value"
>
> This is the best advice.
>
> Joanne, you've got a burn rate now, so you want to get butts in seats. It's a
> little like going grocery shopping hungry
> <https://dangerouslyawesome.com/2012/07/tips-for-building-community-after-opening-a-coworking-space/>.
>
> In terms of getting the word out, the most impactful things you can do now
> are a little bit counterintuitive now that you have the space. Try getting
> very specific about who is going to be in your community. Unlike many other
> business offerings - including many kinds of traditional real estate - the
> customers of a coworking space will have direct impact each other...and in
> many cases, the other members will be the most valuable thing that they "get"
> with their membership
> <https://dangerouslyawesome.com/2018/03/cu-asia-2018-scaling-community-burnout-and-leading-from-within/>.
>
>
> Compare that to almost anything else you pay for...where you may be aware of
> the other customers, but it's unlikely that you gain anything from them.
>
> The best options are people you relate closest to, either professionally or
> culturally (e.g. people from a similar profession that you have experience
> in, or people from a hyperlocal region that you feel a sense of connection
> to).
>
> Look for clusters of them that might already be gathering, and get to know
> them. Learn their interests, their goals, and their challenges.
>
> Then look for ways to add value besides offering your space. The exact value
> you can provide depends heavily on their interests, goals, and challenges.
> But the sooner you have a sense of who your community is going to be, the
> easier everything else gets!
>
> -Alex
>
> On Wed, May 30, 2018 at 10:43 AM Glen Ferguson <g...@coworkfrederick.com
> <mailto:g...@coworkfrederick.com>> wrote:
> What Patrick and Alex said. It's the phrase freelancers hear all the time -
> "Do this for $xxx discount, it'll be good exposure for you." We have over 240
> non-profits registered in our zip code, so the variation we hear is "Can't
> you give us a discount, we're a non-profit?" I explain that our prices and
> amenities are already priced to be affordable by everyone. Sometimes I'll add
> that we're not a non-profit that accepts donations, so we have to price as we
> do if we're going to be sustainable.
>
> The other plea we hear, and I'm sure you will too, is "give us a discount now
> and there will be repeat business." I flip that around and let them know
> these are our rates, but we appreciate repeat business and can discuss a
> discount on those later bookings.
>
> As one acquaintance said, after dropping his "we're a non-profit" pitch on me
> and I told him I knew what that really meant, and it doesn't mean they don't
> have any money, he was honest and told me "I always ask because sometimes it
> works". You shouldn't stress over it or feel guilty. In the end, it's just
> business and everyone wants to spend as little as they have to.
>
> If you want to show a little flexibility, consider the other freelancer
> adage: never lower your price, increase your value. You can offer some small
> amenity (coffee, free use of a projector, etc) so they feel like they've
> "won".
>
>
> Glen Ferguson
> Phone: 301-732-5165 <tel:301-732-5165>
> Email: g...@coworkfrederick.com <mailto:g...@coworkfrederick.com>
> Website: https://www.coworkfrederick.com <https://www.coworkfrederick.com/>
> Address: 122 E Patrick St, Frederick, MD 21701
> <http://wiseintro.co/glengferguson.com>
>
> On Wed, May 30, 2018 at 10:12 AM, Joanne Gerussi <jo_...@hotmail.com
> <mailto:jo_...@hotmail.com>> wrote:
> Thank you, Patrick. That's how I feel too. As I am new to this, I was a bit
> lost on how I should respond to these requests. Now I know.
>
> On Wednesday, 30 May 2018 15:22:54 UTC+2, Pat Manley wrote:
> Don’t do it. Once you lower your prices, it’s impossible to raise them again.
> Determine your costs as best you can, research what others charge and stick
> with it. Events and meetings will not bring you future business, only more
> events at prices you can’t afford.
>
> If any money you receive from events are over and above the revenue you based
> your business model on, then the first question you ask yourself is whether
> you want or need the events? Keep in mind that events can hurt your business
> if they are disruptive to your members, which they are in must cases.
>
> --
> Patrick W. Manley, RA, AIAA, ALA
> Manley Architecture Group/MAG
> 3820 North High Street Columbus, Ohio 43214 <>
> Ph:
> <https://maps.google.com/?q=3820+North+High+Street+Columbus,+Ohio+43214+Ph:+%C2%A0%C2%A0%C2%A0%C2%A0+(614&entry=gmail&source=g>(614)
> 545-1147 <>
> Cell: (614) 496-9096 <>
> Association of Licensed Architects (ALA)
> www.manleyarchitects.us <http://www.manleyarchitects.us/>
> Past President, Ohio Chapter of the Association of Licensed Architects and
> ALA National Board of Directors
>
> On May 30, 2018, at 8:01 AM, Joanne Gerussi <jo_...@hotmail.com <>> wrote:
>
> Hi everyone,
>
> My name is Joanne and I am a new owner of a women coworking space in
> Switzerland. I just opened my space on Monday - 28th May. As I have gotten a
> space which is spacious and full of charms, I have several requests from
> people asking to rent the space to host workshops and events. The problem is,
> people are always asking for discounts or gracious pricing. Their reasoning
> is that my space is really new and they would be doing me a favour by bring
> people to my space and in return I should be charging at a really low price
> or free.
>
> I am hesitant on this idea of extreme discount as at the end of the day, I
> still have bills to pay.
>
> What is your advice on this?
>
> Thank you in advance!
> Joanne
>
> --
> 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+...@googlegroups.com <>.
> For more options, visit https://groups.google.com/d/optout
> <https://groups.google.com/d/optout>.
>
> --
> 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
> <mailto:coworking+unsubscr...@googlegroups.com>.
> For more options, visit https://groups.google.com/d/optout
> <https://groups.google.com/d/optout>.
>
>
> --
> 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
> <mailto:coworking+unsubscr...@googlegroups.com>.
> For more options, visit https://groups.google.com/d/optout
> <https://groups.google.com/d/optout>.
>
> --
> 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
> <mailto:coworking+unsubscr...@googlegroups.com>.
> For more options, visit https://groups.google.com/d/optout
> <https://groups.google.com/d/optout>.
--
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.
