Nanette, If I can offer any advice be very careful on structuring a rev share deal with the landlord. You'll definitely want a good RE attorney to help you draw up docs if you end up finding a landlord willing to do a deal like this. I am sure Jerome has some advice there.
The commercial real estate market is on fire at the moment on a national level, so it's going to be rather difficult to find something you really want and also find a landlord willing to get creative. Don't settle for something because it's your only choice. Also, I'd look for properties with some built in character and minimal tenant improvements needed. If you're going to try to get creative with the landlord and you have a small budget, keep in mind he's going to be less interested in putting any real improvement dollars in the space. And lastly, I'd find an anchor tenant. Get a local agency to partner with you, a team of 5-10 and maybe even consider some sort of partnership with them on the space. Coworking is very saturated at the moment. To be successful you need to be different and stand out. Simply being a landlord and offering amenities is a failure waiting to happen. I've personally seen several friends in the coworking business struggle because they went in thinking "if you build, they will come." Have a niche and get involved in your community. Community is keystone to success. Good luck! Jeran On Friday, July 6, 2018 at 10:31:06 AM UTC-7, [email protected] wrote: > > Hi group! I've been following all of your great questions and advice for a > bit now. Thanks so much! > My business partner and I are still in the "planning and searching for a > space" phase. Still so much to learn! > Since we do not have a large amount of capital to put in this business we > are looking at all the options. > Has anyone entered into an agreement with a landlord where they are the > owner and you are the operator/manager? Is it traditionally known by > another term? We keep hearing about such arrangements but would love to > hear about a specific example and what kind of terms might be acceptable. > You can read about the reference to the concept here (the second option in > the article): > https://www.globalworkspace.org/2016/03/three-ways-to-run-a-coworking-space-without-signing-a-lease/ > > -- 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.
