Re: [Coworking] Selling membership on credit

[Chi-chi]

Thanks Hector

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Re: [Coworking] Selling membership on credit

[Hector Kolonas]

When i launched my own spaces, there was literally no open banks in our 
country. Everything was closed down and cash was king, so i made the tough 
call to make all memberships pay-as-you-go with zero deposit or minimum 
contract length.

If a member could afford the membership this month, then they pay and have 
access (plus free coffee/wifi/airconditioning/community/events/snacks) for 
1 calendar month, and then if they can't pay the next month, they didn't 
come in till they could afford to pay again.

It sounds hard, but we didn't want anyone to go into debt, especially when 
each household was already so so so stressed about finances. 

What landed up happening is that we got creative offers or negotiations 
with our members, which helped foster the collaborative environment in it's 
own way. (eg some folks offered what they could pay, but then volunteered 
to help with space chores like restocking the toiletpaper in the loos or 
showing folks around, etc)

On Thursday, 5 April 2018 15:11:40 UTC-4, Chi-chi wrote:
>
> Thanks this has been so helpful.
>
> On Thursday, April 5, 2018 at 12:59:47 PM UTC-4, Alex Hillman wrote:
>>
>> I've never personally seen coworking offered on a credit system like 
>> this, at least not first-party through the coworking space. 
>>
>> Payment is due at the start of each membership period (generally 
>> monthly). I HIGHLY recommend setting up an auto-debit option so that you're 
>> not chasing invoices every month. Our first few years there were basically 
>> no tools available to easily and securely charge a card on file - now there 
>> are many and basically all of the coworking platforms support them. For 
>> larger payments (multi-month pre-payments, or single payers covering 
>> multiple memberships) we will accept a check but those are due immediately 
>> as well. 
>>
>> We already assume the risk/liability of our leases and overhead, and give 
>> people the ability to pay monthly (vs long term agreements or prepayments). 
>> I'm not taking on a prospective members' business risks, too ;)
>>
>> I DID recently see this company which is offering a special line of 
>> credit for coworking deposits and some other "income smoothing" type tools: 
>> https://www.salaryo.com 
>>  
>> But I haven't heard any first hand accounts of how it works, only their 
>> press and sales pitch. 
>>
>> -Alex
>>
>>
>>
>>
>> --
>> *The #1 mistake in community building is doing it by yourself.*
>> Better Coworkers: http://indyhall.org
>> Weekly Coworking Tips: http://coworkingweekly.com
>> My Audiobook: https://theindyhallway.com/ten
>>
>> On Thu, Apr 5, 2018 at 12:47 PM, Chi-chi  wrote:
>>
>>> Hey,
>>>
>>> To anyone who may have some insight, is it a customary thing to sell 
>>> membership on credit... or is it expected that a customer/member pays 
>>> immediately for access to your coworking space. In other words, when do you 
>>> expect payment (to be due)?
>>>
>>> Sincerely,
>>> Chi-chi N.
>>>
>>> -- 
>>> 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.
>>>
>>
>>

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Re: [Coworking] Selling membership on credit

[Chi-chi]

Thanks this has been so helpful.

On Thursday, April 5, 2018 at 12:59:47 PM UTC-4, Alex Hillman wrote:
>
> I've never personally seen coworking offered on a credit system like this, 
> at least not first-party through the coworking space. 
>
> Payment is due at the start of each membership period (generally monthly). 
> I HIGHLY recommend setting up an auto-debit option so that you're not 
> chasing invoices every month. Our first few years there were basically no 
> tools available to easily and securely charge a card on file - now there 
> are many and basically all of the coworking platforms support them. For 
> larger payments (multi-month pre-payments, or single payers covering 
> multiple memberships) we will accept a check but those are due immediately 
> as well. 
>
> We already assume the risk/liability of our leases and overhead, and give 
> people the ability to pay monthly (vs long term agreements or prepayments). 
> I'm not taking on a prospective members' business risks, too ;)
>
> I DID recently see this company which is offering a special line of credit 
> for coworking deposits and some other "income smoothing" type tools: 
> https://www.salaryo.com 
>  
> But I haven't heard any first hand accounts of how it works, only their 
> press and sales pitch. 
>
> -Alex
>
>
>
>
> --
> *The #1 mistake in community building is doing it by yourself.*
> Better Coworkers: http://indyhall.org
> Weekly Coworking Tips: http://coworkingweekly.com
> My Audiobook: https://theindyhallway.com/ten
>
> On Thu, Apr 5, 2018 at 12:47 PM, Chi-chi  > wrote:
>
>> Hey,
>>
>> To anyone who may have some insight, is it a customary thing to sell 
>> membership on credit... or is it expected that a customer/member pays 
>> immediately for access to your coworking space. In other words, when do you 
>> expect payment (to be due)?
>>
>> Sincerely,
>> Chi-chi N.
>>
>> -- 
>> 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.
>>
>
>

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Re: [Coworking] Selling membership on credit

[Alex Hillman]

I've never personally seen coworking offered on a credit system like this,
at least not first-party through the coworking space.

Payment is due at the start of each membership period (generally monthly).
I HIGHLY recommend setting up an auto-debit option so that you're not
chasing invoices every month. Our first few years there were basically no
tools available to easily and securely charge a card on file - now there
are many and basically all of the coworking platforms support them. For
larger payments (multi-month pre-payments, or single payers covering
multiple memberships) we will accept a check but those are due immediately
as well.

We already assume the risk/liability of our leases and overhead, and give
people the ability to pay monthly (vs long term agreements or prepayments).
I'm not taking on a prospective members' business risks, too ;)

I DID recently see this company which is offering a special line of credit
for coworking deposits and some other "income smoothing" type tools:
https://www.salaryo.com

But I haven't heard any first hand accounts of how it works, only their
press and sales pitch.

-Alex




--
*The #1 mistake in community building is doing it by yourself.*
Better Coworkers: http://indyhall.org
Weekly Coworking Tips: http://coworkingweekly.com
My Audiobook: https://theindyhallway.com/ten

On Thu, Apr 5, 2018 at 12:47 PM, Chi-chi  wrote:

> Hey,
>
> To anyone who may have some insight, is it a customary thing to sell
> membership on credit... or is it expected that a customer/member pays
> immediately for access to your coworking space. In other words, when do you
> expect payment (to be due)?
>
> Sincerely,
> Chi-chi N.
>
> --
> 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.
>

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Re: [Coworking] Selling membership on credit

[Jerome Chang]

Members pay upfront to start
Members pay for the month in advance thereafter.
We do extend credit for incidentals and additional meeting room time, etc. and 
they pay in arrears on the next invoice. Note that we do collect security 
deposits for nearly all plans so technically we already have the cash on hand.

JEROME CHANG
talk to us: (323) 330-9505
chat w/ us: http://www.BLANKSPACES.com/chat

WEST: Santa Monica | 1450 2nd St (@Broadway)
EAST: DTLA | 529 S. Broadway, Ste 400 (@Pershing Sq)
NORTH: Pasadena | 680 E. Colorado, Ste 180 (b/w Lake and Los Robles)
SOUTH: Long Beach | 309 Pine Ave (@Broadway) - opening May 2018

> On Apr 5, 2018, at 9:47 AM, Chi-chi  wrote:
> 
> Hey,
> 
> To anyone who may have some insight, is it a customary thing to sell 
> membership on credit... or is it expected that a customer/member pays 
> immediately for access to your coworking space. In other words, when do you 
> expect payment (to be due)?
> 
> Sincerely,
> Chi-chi N.
> -- 
> 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.

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[Coworking] Selling membership on credit

[Chi-chi]

Hey,

To anyone who may have some insight, is it a customary thing to sell 
membership on credit... or is it expected that a customer/member pays 
immediately for access to your coworking space. In other words, when do you 
expect payment (to be due)?

Sincerely,
Chi-chi N.

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