Nanette, The more offices the better. The cost will be worth it. I started off with much the same thought as you. "A couple rooms will be fine" I thought. We put about 50k into a space with mostly open space and a few private rooms. In 6 months we learned 3 things:
1. People with non private space memberships (virtual office / coworking) dont have as much invested and therefore dont stick as much. People with private space contracts are much more predictable. 2. People really want a private space and are willing to pay for it. 3. Dont build what you think they want (or what you want them to want) build what they are asking for. So here is what happened. We had to move to another building with enough room to build offices. We lost the 50k we put into the first space because you cant take it with you (floors, network cabling, walls, paint...) But thankfully our landlord saw the potential and worked with us to find a better solution. Now we occupy 15k sq ft with 30 offices plus coworking space, and classroom space. Private office holders account for 85% of our MRR. We sold almost all of our private spaces in 3 months. Now we are at full capacity and building out a new location with 80+ offices in a high rise with our same landlord. We have become partners now. I write all this to say I knew what I thought I knew and I had to learn the hard costly way. Work out with your landlord to get free rent or have them pay for the build out. Make it worth their wild and share revenues till they get their Tenant Improvement money's back. There are options for you. Joshua Webb Founder at Growthli 844-455-GROW (4769) Https://Growthli.com © Growthli | A Place To Learn, Grow, & Office™ ATTENTION: The contents of this e-mail message and any attachments are confidential and are intended solely for addressee. The information may also be legally privileged. This transmission is sent in trust, for the sole purpose of delivery to the intended recipient. If you have received this transmission in error, any use, reproduction or dissemination of this transmission is strictly prohibited. If you are not the intended recipient, please immediately notify the sender by reply e-mail or phone and delete this message and its attachments, if any. On Mon, Jul 16, 2018, 9:58 PM <[email protected]> wrote: > I've read that the trend for members to want private offices. We are > looking at the cost of up-fitting an open space and it sure would cost less > if we didn't have to build 5-6 offices. We realize we need to bulild a > conference room and we have areas where phone rooms can be retrofit but the > cost of offices really puts the cost out of reach. I realize that a yearly > contract for an office of 3 or more people is a good bread and butter > situation. I know Alex Hillmans Indy Hall space is open desk. Would love to > hear about any others. Can you get yearly memberships on open or dedicated > desks? We are thinking we can have some movable, screening dividers for > teams of 3 or more. Would be nice to be able to add offices on an as-needed > basis. > > -- > 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. > -- 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.
