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The Everything Coworking podcast shares trends and how-tos for coworking operators and anyone following this exploding trend. Jamie owned coworking spaces in Chicago and Palo Alto under the brand Enerspace Coworking. She was the Executive Director of the Global Workspace Association for 5 years. Since 2018, she's been helping coworking spaces start and run profitable coworking spaces.
- 357 - 347. 3 Coworking Space Owners Share the Behind the Scenes on Their Virtual Mailbox Businesses
Wes Walker, Laura Fisher, and Ashleigh Ramsay share the details on their virtual service revenue - what they offer, how they price, lead sources, how long it takes them to process the mail, the impact it has on their revenue, and more.
Deadline: May 12: Register for the Everything Coworking Club's Quarterly Revenue Challenge: Start or Grow your Virtual Mailbox Service
Get on your email address to learn more about the quarterly revenue challenge.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 08 May 2024 - 41min - 356 - 346. The Math on Virtual Mailbox Revenue for Coworking Spaces
Virtual Mailbox demand is growing - see our "Why Mail" video. Virtual Mailbox services can create a significant revenue stream for coworking spaces. This video walks through a simple forecasting model for how virtual mail adds revenue to your coworking business over time.
Resources Mentioned in this Episode:
The video version of this episode on YouTube
Get on your email address to learn more about the challenge.
Deadline: May 12: Register for the Everything Coworking Club's Quarterly Revenue Challenge: Start or Grow your Virtual Mailbox Service
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Mon, 06 May 2024 - 23min - 355 - 345. Why People Buy Virtual Mailboxes at Coworking Spaces (And Why You Should be Selling Them)
Is it a head-scratcher to you as to why someone might buy a virtual mailbox at a coworking space?
Or do you get it but you just think it’s got to be too much work to make it worth it?
Have you launched a mail program half-heartedly and had lukewarm results?
In this episode, we dive into why people buy mail packages, why you should consider launching a mail program, and how our upcoming challenge will help you start or optimize a money-making mail program.
Resources Mentioned in this Episode:
Get on your email address to learn more about the challenge.
Deadline: May 12!! Register for the May Mail Money Maker Challenge
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Fri, 03 May 2024 - 24min - 354 - 344. From Inbox to Income: Enhancing Your Coworking Space with Effective Email Marketing with Tracy Beavers
Welcome to another episode of the Everything Coworking Podcast! Today, I’m joined by Tracy Beavers, a business visibility and strategy coach who specializes in turning strategies into actionable success. We dive into a crucial topic for any coworking space owner looking to boost their business—email marketing.
Want to join Tracy’s FREE, live masterclass coming up next week? https://www.tracybeavers.com/masterclass
What We Discuss:
The Power of Email Marketing: Tracy explains why email marketing remains a powerful tool for coworking spaces, helping to promote memberships, event spaces, meeting rooms, and special events effectively.
Building Your Email List: We cover strategies for not just creating but also growing a marketing email list—a vital asset for any business. Tracy shares insights on how to attract the right subscribers who are genuinely interested in what your coworking space offers.
Consistency is Key: Tracy emphasizes the importance of consistency in emailing, recommending that coworking owners send out communications at least twice a month. We talk about how regular updates can keep your community engaged and informed.
Content That Converts: Learn what types of emails have been most successful in converting inquiries into memberships and event participants. Tracy provides examples of content that resonates with audiences and drives engagement.
Resources Mentioned in this Episode:
Tracy’s Free, live masterclass (week of 4/15 and 4/22)
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 17 Apr 2024 - 44min - 353 - 343. Brandon Houston on Building a Vibrant Community Hub in a Town of 20,000 in Collingwood, ON
Brandon Houston, founder of the Collingwood Foundry shares his entrepreneurial journey from running a web development agency to pioneering a coworking space that has grown into a central hub of community and innovation in Collingwood, Ontario.
Key topics include:
The power of starting small and building a connection and reputation with the local community.
The evolution of Collingwood Foundry into a space that members don’t just work in, but genuinely love and support.
The challenges and triumphs of bringing coworking to a smaller town and the vision for expanding the Foundry's influence.
An exploration of culture-setting and hospitality in coworking, with creative initiatives like the use of the Donut plugin to foster member interactions.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Free Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 10 Apr 2024 - 46min - 352 - 342. Mindset Matters for Coworking Entrepreneurs: The Power of 50/50 Thinking
In the latest episode of Everything Coworking, we’re unpacking a truth bomb about the entrepreneurial life, especially in our world of coworking. Taking a page from Brooke Castillo, we’re exploring the idea that our journeys are a healthy mix of wins and challenges – yes, it's a 50/50 split of highs and lows.
I’m diving into why expecting a smooth sail can throw us off course and how those inevitable tough times actually shore up our resilience and push our growth. It’s all about embracing every bit of the ride, knowing that each twist and turn is shaping us and our coworking ventures.
If this conversation hits home for you, do me a favor – drop by Apple Podcasts and share your thoughts with a review. It helps spread the word and gets more folks in on our coworking convos.
Tune in and let's get real about the ebb and flow that keeps us on our toes and makes this whole journey worthwhile.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 03 Apr 2024 - 12min - 351 - 341. Exploring Hotel-Inspired Hospitality Integration in Coworking Spaces
This episode explores how we might apply some examples of hospitality to elements of hospitality offered at a coworking space.
Episode Highlights:
Introduction to Hospitality in Coworking: We kick things off by exploring why hospitality is just as crucial in our coworking spaces as it is in the hotel industry. It's about creating experiences that stick and spaces where people feel truly welcomed.
A Personal Tale of Hotel Hospitality: I share my own story of incredible service during a hotel stay - from the effortless help with finding the best local sandwiches to sorting out ski rentals and even snagging a ride to the airport. It was service with a smile, but more importantly, it was personal and responsive.
Drawing Parallels: How do these moments of thoughtful hospitality translate to the coworking world? We dive deep into the similarities between the services provided by hotels and those we can offer in coworking spaces. It’s all about elevating the member experience.
Lessons for Coworking Spaces: Learn how we can apply these hotel hospitality hacks to make our coworking spaces more responsive, personable, and ultimately, more successful. From communication tools to staff training and creating personalized member experiences, we cover it all.
Resources Mentioned in this Episode:
Interview with Grant Barnhill, CEO of Shift Workspaces
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 27 Mar 2024 - 18min - 350 - 340. The Ad Strategy Guide for Coworking Spaces: Choosing Between Google and Facebook
Are you leveraging the full potential of digital ads for your coworking space? Dive into our latest episode where we decode the mysteries of Google vs. Facebook ads, tailored specifically for coworking entrepreneurs. Discover which platform aligns best with your marketing goals, whether you're targeting active searchers or building brand awareness. Plus, get insider tips on using the Facebook Ads Library to spy on competitors’ strategies!
🔑 What You'll Learn:
The unique advantages of Google and Facebook ads for coworking spaces
How to capitalize on user intent to tailor your ad strategy
Practical tips and case studies on crafting winning ad campaigns
Perfect for coworking space owners ready to elevate their digital marketing game. Tune in now and turn those ad dollars into memberships!
Everything Coworking Featured Resources:
Free Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Thu, 21 Mar 2024 - 24min - 349 - 339. John Egan, Director of Operations at Lucid Private Offices on Hiring, Bringing Joy to the Community Manager Role, and All the Camp Analogies
John Egan Director of Operations at Lucid Private Offices, shares:
His approach to hiring, including specific questions he asks
How he screens for “joy” in his hiring process
How his career as a Camp Director and an Insurance Advisor prepared him for his role at Lucid Private Offices
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Free Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 13 Mar 2024 - 55min - 348 - 338. Smart Marketing for Coworking Spaces: Test Before You Invest
This episode is all about testing the conversion rate on your offer/landing page before scaling up the traffic to the campaign. We talk about:
The Importance of Marketing Conversion for Coworking Spaces: We define marketing conversion in the context of coworking spaces and discuss the significance of setting clear conversion goals for each campaign.
Landing Pages Explained: Discover what a landing page is, its role in your marketing strategy, and best practices for creating landing pages that convert.
Best Practices for Effective Landing Pages: Learn the key elements of high-converting landing pages, including clear headlines, compelling calls to action, benefit-oriented copy, high-quality imagery, social proof, mobile optimization, and the importance of speed.
Introduction to Testing and Optimization: Understand the basics of A/B testing and other optimization methods to improve your marketing campaigns' conversion rates.
A Case Study on Facebook Ads: We walk through a hypothetical case study of a coworking space testing its Facebook ad campaigns, emphasizing the importance of starting with a small budget and gradually increasing spend based on performance.
Key Metrics to Watch: Learn about the crucial performance indicators for digital marketing in the coworking sector, such as cost per lead, conversion rate, and return on ad spend (ROAS).
Scaling Up Successful Marketing Efforts: Tips on how to scale your marketing efforts once you've identified successful strategies, including reallocating budget and exploring new platforms.
Episode Resources:
13 Tips for Creating Better Landing Pages
Hotjar - Understand how users behave on your site
Everything Coworking Featured Resources:
Free Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 06 Mar 2024 - 36min - 347 - 337. Last Call for Coworking: Urgency Tactics to Seal the Deal
Want to make sure you get access to our special Community Manager University offer on March 4th? Go to the bottom of our home page and opt-in to our mailing list!
This week I dive into the art of creating urgency to boost sales and memberships in the coworking world. Inspired by the annual Container Store's 30% off Elfa sale, this episode explores how similar strategies can be effectively applied to coworking spaces, especially when launching a founding member campaign.
Here's what we covered:
The Psychology Behind The Container Store's Elfa Sale: An overview of the Elfa sale and why it's so successful at driving purchases.
Principles of Creating Urgency: How urgency influences customer behavior and decision-making.
Applying Retail Strategies to Coworking Spaces: Insights into adapting retail marketing strategies, like The Container Store's Elfa sale, for coworking spaces.
Launching a Founding Member Campaign: A step-by-step guide to creating an effective founding member campaign for your coworking space.
Case Studies and Success Stories: Real-world examples of coworking spaces that have successfully implemented founding member campaigns and other urgency-driven promotions.
Key Takeaways:
Creating urgency can help convert indecisive potential members into members.
Founding member campaigns, when executed well, can build a strong initial community and ensure your space's success from the start.
The principles of urgency and scarcity, common in retail, are also powerful tools in the coworking industry.
Resources Mentioned in this Episode:
Get on our mailing list to get our special Community Manager University Offer on March 4th! Go to our home page, scroll to the bottom, and opt-in!
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 28 Feb 2024 - 36min - 346 - 336. Real Estate Disruption: Seth Rosenblum on Adapting to Market Needs Through Coworking and Co-Warehousing
Seth Rosenblum is the Managing Director at Hone Coworks & Principal at The Rosenblum Companies. He considers the Rosenblum Companies to be “operators” at heart. Yes, they own the underlying real estate, but their business is to create the solutions that their customers are looking for…which has led them to create their own coworking and co-warehousing brands.
Here’s what we covered in our conversation:
1. Seth’s team understands the need to diversify real estate assets for sustainability.
2. Seth’s team believes that traditional long-term office leases need to evolve to cater to immediate space needs.
3. Landlords face challenges with funding tenant improvements….every 5 years.
4. Space Readiness: The trend towards providing furnished, serviced office spaces.
5.'Hospitality Focus: The importance of incorporating hospitality into real estate operations.
6. Accountability Standard': Implementing standardized operations across various business types.
7. Team Development: Building an efficient team to manage diverse property types.
8. Operational Evolution: Continuous improvement and operational flexibility are critical.
9. Leadership Growth: The necessity for leaders to adapt and grow within a changing industry.
10. Community Engagement: Engaging with the community to successfully adapt to market needs.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Register for our upcoming class: Funding a Coworking Space in 2024
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 21 Feb 2024 - 1h 03min - 345 - 335. Dr. Christina Hansen Cohen: Pioneering Coworking Spaces for Mental Health Professionals
Dr. Christina Hansen was on what seemed like a fruitless search for office space for her therapist practice when it suddenly hit her on her drive home one day that she could solve her own problem and create a shared office space designed for mental health practitioners.
On this episode, we talk through her journey from concept to one year after opening.
How she serves her unique Ideal Customer Avatar How she got a turn-key buildout (and funded some upgrades) How she staffs her space The tech she uses to support her members What her member event approach looks like and more...Resources Mentioned in this Episode:
Christina's LinkedIn profile Therapy Suites websiteEverything Coworking Featured Resources:
Register for our upcoming class: Funding a Coworking Space in 2024
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 07 Feb 2024 - 46min - 344 - 334. Blending Coworking and Childcare with Daniella Cornue: Inside Le Village
We get into A LOT of details on the childcare + coworking model:
Combining Childcare with Coworking: A discussion on the integrated model of co-working and childcare.
Marketing Approaches: The importance of social media and referrals for business growth.
Business Model Considerations: Balancing challenges in child safety with coworking space demands.
Expansion and Community Presence
Le Village's plans for growth in Chicago, Austin, and Atlanta.
Targeting neighborhood markets for localized presence.
Demographic Impact and Social Goals: The increase in father participation, and tackling the motherhood penalty.
Financial Viability and Real Estate: Addressing the intertwining of profitability with real estate and labor costs.
Structure and Curriculum: Details on the childcare layout, staffing, and standardized curriculum.
Compliance and Operations: Emphasis on regulatory knowledge and compliance for franchisees.
…and more!
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Register for our upcoming class: Funding a Coworking Space in 2024
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 31 Jan 2024 - 57min - 343 - 333. Coworking Spaces and Google Business Listings: A Google Product Expert’s Advice
On this episode, I nerd out with my favorite Google Product Expert Amy Toman, as we dissect the fine print of Google listings and the importance of accurate information - both for #coworking spaces and small businesses alike.
This episode dives into real-world SEO strategies, the challenges of business listings, and the power of authentic visuals in the digital arena.
Episode Highlights:
- The interplay between local rankings and business hours.
- The intricacies of listing multiple businesses at a single location.
- The significance of human-centered visuals in online business profiles.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Register for our upcoming FREE masterclass: Funding a Coworking Space in 2024
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 24 Jan 2024 - 54min - 342 - 332. Jamie Russo and Giovanni Palavicini Share Their 2024 Coworking Industry Predictions
What’s on the horizon for 2024? We don’t have a crystal ball, but we do get pretty deep exposure to what’s going on in the industry through the work we do with operators all year long. So, we think we have some pretty good insights into 2024!
What does Gio do all year? Gio is a commercial office leasing broker focusing exclusively on coworking/flex deals for operators and landlords. He has the largest coworking industry network of anyone I know (besides me) and therefore really has his pulse on how markets are performing, deals getting done, and industry innovation.
What does Jamie do all day besides keeping up with two podcasts a week? She manages the Coworking Startup School, and Community Manager University, and works with asset owners on the feasibility of adding flex to their own portfolio.
Resources Mentioned in this Episode:
Register for our upcoming FREE masterclass: Funding a Coworking Space in 2024
Everything Coworking Featured Resources:
Register for our upcoming FREE masterclass: Funding a Coworking Space in 2024
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 17 Jan 2024 - 1h 04min - 341 - 331. The Pros and Cons of Taking on a Partner for your Coworking Business
Resources Mentioned in this Episode:
Register for our upcoming class: Funding a Coworking Space in 2024
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Thu, 11 Jan 2024 - 32min - 340 - 330. Ten Criteria for Buying or Selling a Coworking Space
In this episode, I walk through 10 criteria that should be considered by a buyer of a coworking space....and by an operator that wants to build to sell...or that want to run a profitable coworking space that cash flows for their financial benefit.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 03 Jan 2024 - 41min - 339 - 329. Pricing Changes and other End of Year Communication for your Coworking Business
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 13 Dec 2023 - 21min - 338 - 328. Three Things You can do to Optimize Revenue in your Coworking Space
Everything Coworking Featured Resources:
The Flex Academy Coworking Bootcamp - Unlock the full potential of Your Coworking Space With Proven Insights from Industry Experts in This Exclusive Video Series.
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 06 Dec 2023 - 15min - 337 - 327. Jace Rasche Goes Behind the Scenes on his Coffee Shop + Coworking Business
Every coworking space has (hopefully great) coffee, but most spaces don't have a coffee business in their coworking space. This concept is becoming more popular as coworking spaces focus more on hospitality and integrating a food and beverage offering.
Jace is a Coworking Startup School™ alumnus so I got to be a part of his coworking journey and in this conversation, we get into the details and go behind-the-scenes on his coworking + coffee shop business model.
Resources Mentioned in this Episode:
Jace’s LinkedIn profile Common Good Co. websiteEverything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space Coworking Startup School - Phase I: Validate Community Manager University The Everything Coworking Academy Follow Us on YouTubeWed, 29 Nov 2023 - 56min - 336 - 326. Best Of: Coworking Plans that Provide Access - How to Sell What Today’s Customer Wants
We originally aired this episode in 2022…and it has more relevance today than ever.
Pre-pandemic, we tried to avoid 10-day passes and custom plans. We wanted full-time memberships and operational simplicity. Well…today’s coworking space user has changed our tune.
In this episode, we talk about:
Looking at the 10 day pass as a “healthy” option for end users that needs to be sold in volume
Designing access packages for teams - how to give them the access they need and getting the recurring revenue and predictability that your business needs.
Testing meeting room access plans that build loyalty and recurring revenue
Leveraging meeting room demand
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 22 Nov 2023 - 37min - 335 - 325. OG Scott Tillitt on Small-Town Coworking and Leveraging Coworking Ambassadors and Part-Time Community Activators
Scott Tillitt has a strong “why” around coworking. A PR/Communication Consultant by day, he also ran a not-for-profit supporting Localism and sees coworking as the intersection of community engagement, economic development, and supporting local. As a matter of fact, he’s not very worried about his coffee game because the mile-long main street Beahive is located on has no fewer than six local coffee shops.
Scott is a true coworking OG - he opened his first location in 2009 in Beacon, NY, a little over an hour out of NYC by train. Over the years he was a pioneer in experimenting with multiple locations and creative partnership agreements.
He shared his coworking journey, lessons learned in his fourteen years in business, and he also gave us a little BTS on his Coworking Ambassador program. Scott runs his primary location, but his second and third locations are staffed by responsible members, a very part-time Community Activator, and some Coworking Community Ambassadors.
If you’re trying to figure out how to manage staffing in smaller locations, you’ll get some good nuggets and perspective from Scott.
Resources Mentioned in this Episode:
The Everything Coworking Academy
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 15 Nov 2023 - 1h 14min - 334 - 324. How Murray Clark is Creating an Ecosystem of Live, Work and experience through Neighbourgood
Neighbourgood is about great places to live, stay, work, connect, and experience. They've created a dense ecosystem of neighbourhood hotels, apartments, and workspaces that connect communities across Cape Town...and their mission is to do this around the world.
Murray was one of our very first Coworking Startup School™ students and he's taking coworking and community to the next level! He shares the Neighbourgood story to date and their vision for the future.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 08 Nov 2023 - 1h 01min - 333 - 323. Tricia Teague, Founder of Soar Space. on Small City Coworking and Leveraging Technical Assistance Grants
Tricia Teague is a multi-passionate entrepreneur.
She moved back to her hometown of Danville, IL after 20 years away and knew she needed to bring coworking to the community.
If you're interested in small-town coworking or leveraging grants to support your space and/or members, this one is for you.
Resources Mentioned in This Podcast
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 01 Nov 2023 - 58min - 332 - 322. Tired of the Cost per Square Foot Conversation? Shift to Total Cost of Occupancy
Are potential members trying to get you to talk about cost per square foot? Shift the conversation to "total cost of occupancy" and compare the total cost of a traditional lease, or even a sublease, to a coworking option.
In this episode:
We explore the concept of TCO, which goes beyond initial rent costs to consider all expenses associated with office space. We break down the TCO for coworking and subleasing, emphasizing the importance of hidden costs, flexibility, and included amenities. Learn how to use TCO as a powerful tool in conversations with potential customers, helping them understand the true value of coworking for their businesses.Resources Mentioned in This Podcast
The Total Cost of Occupancy Blog Post
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Coworking Startup School - Phase I: Validate
The Everything Coworking Academy
Wed, 25 Oct 2023 - 43min - 331 - 321. Myth or Fact? Organic Social Media is Critical to the Success of a Coworking Business
In this episode, we explore one operator’s assumption that organic social media is critical to the success of a coworking business.
We talk about:
Low organic reach (2% - 10%)
The concept that we advertise on Google to get found by active searchers and we show up on social media to interrupt potential customers that may not even know about coworking
Outsourcing social media vs. handling it in-house
Investing in paid ads on either Google or Facebook
Tracking your lead sources so that you can let the numbers tell you where to focus and what to spend money on!
Resources Mentioned in This Podcast
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 18 Oct 2023 - 27min - 330 - 320. Are Small Coworking Spaces Profitable?
This episode focuses on aligning your coworking space size with your goals. It covers topics such as the importance of understanding your business model, considering different goals for your space, diversifying income sources, and understanding the profitability of small spaces.
Highlights:
Considerations regarding the cost and profitability of small coworking spaces. Learning from Brian Watson and his experience with smaller, automated locations.- Different goals for creating a coworking space, such as fostering community or generating profit. The need to align your business model and strategy with your desired goals. The importance of understanding real estate costs, pricing, staffing, and unexpected expenses.Resources Mentioned in this Episode:
Brian Watson episode on automating small coworking spaces
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 11 Oct 2023 - 32min - 329 - 319. The Key to Success: Aligning Values with Your Ideal Customers in a Values-Driven Coworking Space
Jen Luby is the founder and CEO of Dayhouse Coworking in Highland Park, a suburb of Chicago.
Jen's story might sound familiar....one day, while trying to do deep creative work with a three year old interrupting her every 45 seconds, she thought there must be a better way. Enter Dayhouse. Dayhouse was designed to serve members like Jen who needed a professional, but family-friendly place to get work done.
Jen and her team have experimented with various kid-friendly models and landed on a version where there's an enclosed, kid-friendly area in the space that is often used by therapists who work with kids and gets booked for school-day-off activities and day camps.
Here are some questions that I ask Jen:
Who is your ideal customer? What do they want out of your coworking space?
How do your values align with what your Ideal Customer wants as well as the type of business that you want to run?
What does being family-friendly look like for you? What have you experimented with?
What has worked/not worked?
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Tue, 03 Oct 2023 - 49min - 328 - 318. The DIY Dilemma
I like to call myself a chronic DIY’er. This mindset has its place…that place is not in staining three decks with spindle railings…nor does it belong in creating a coworking business that could bankrupt you in mistakes made before you even open your doors.
Let’s talk about what can go well and what can derail us when we attempt to DIY a significant project.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Fri, 29 Sep 2023 - 32min - 327 - 317. The WeWork Conundrum: Why Unit Economics Matter and How Independent Operators Can Succeed
In this episode, we talk about why WeWork failed (the simplified version) and why WeWork’s failure isn’t correlated to the ability of an independent operator to be profitable and successful.
We cover:
The short version of the rise and fall of WeWork
WeWork’s historical focus on growth over unit economics.
How independent operators and asset owners can focus on unit economics, local market knowledge and sustainable growth to create and grow a profitable business
Resources Mentioned in this Episode:
How I Did This: Expanded to Multiple Locations
Lemonade stand plans on Pinterest
Our lemonade stand! We had to transport it to the park where we could access foot traffic :)
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 13 Sep 2023 - 38min - 326 - 316. Behind the Scenes of the Work Club Experience at General Provision with Tim Hasse
“And for us since day one, we realized that even though we have competitors in the sense of office space. We're really competing against people in their homes. If we can't bring people out of their houses and into a better experience at GP, then people aren't going to churn, right?”
Tim Hasse, the founder of General Provision, gives us the inside look into a space that identifies as a “work club,” not as an office or even a coworking space.
His intuition long before COVID was to create an experience that wasn’t just about work. “The mantra very early was that anybody could come in and outbuild us, but they'll never be able to outservice us. And that's the, the culture that still lives on, you know, nine years later.”
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Thu, 07 Sep 2023 - 57min - 325 - Bonus Episode: Why We're Going Live with the Coworking Startup School™
This is a bonus episode and it will be most relevant to those of you that are still thinking about or working on opening a coworking space.
On this episode I share the new format that we're testing for the Coworking Startup School with the goal to get you more clear and confident on the first few steps of our 12-Step Profitable Coworking Framework because these matter the most...and this is where the most operators make the biggest, most expensive mistakes.
Get the details on our live cohort - registration closes Friday, September 1st.
Mon, 28 Aug 2023 - 09min - 324 - 315. From Fixed to Flexible: How Work Environments are Adapting to Change
On this episode, Dror Poleg delves into the transformative shift in how we perceive and design office spaces. Gone are the days when developers had a clear roadmap for constructing workplaces. Today, with the rise of remote work and the shift of considering 'home' as the baseline, the game is changing. Poleg discusses the uncertainties leaders face, especially as emerging AI technologies stand to reshape the work dynamic even further.
A central idea presented is the concept of the office of the future. Not confined by a physical location, it’s envisioned as a network. Instead of static places, the focus is on enabling employees to access what they need, whenever and wherever. Poleg presents the idea that while offices will continue to exist, they’ll differ in design, accessibility, and financial agreements. He emphasizes the importance of adaptability in future designs, suggesting the ability for spaces to be easily reconfigured, moving beyond furniture adjustments to transforming entire wall structures.
The episode also highlights regional distinctions in office dynamics, underscoring differences between places like Austin, Texas, and San Francisco. In a rapidly changing world, Poleg suggests we may not settle on a standardized answer about workspaces for decades to come.
Dive in to explore the future of office spaces, understand the contrasts of macro vs. micro views, and see how work environments are perpetually evolving.
Resources Mentioned in this Podcast:
Dror’s book Rethinking Real Estate
Global Workspace Association Annual ConferenceEverything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 23 Aug 2023 - 1h 00min - 323 - 314. Empowering Innovation: CIC Philadelphia's Coworking Approach to Community, Technology, and Inclusiveness
Michelle Ottey is the Managing Director of CIC in Philadelphia.
The facility hosts 140,000 square feet of workspace, lab space, and more.
How do you stay focused on member experience and community building in 140,000 square feet…well…the Treat Trolleys stocking Klondike bars are a good start 🙂
But seriously, CIC Philadelphia is an incredible ecosystem that supports your “typical” solopreneur, as well as startups looking to commercialize life science technology.
They also have a strong focus on DEI and one of their OKRs is to help their member companies build a culture of inclusiveness.
This episode is a great case study on the diversity of shared space users and business models.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 09 Aug 2023 - 54min - 322 - 313. Hula Coworking - How a Sustainable Workspace steps from Lake Champlain is Keeping Talent in Vermont
Marina McCoy closed her own sustainability consulting practice and brick and mortar businesses to take the role of Community Manager at Hula coworking and hasn’t looked back. Hula is just that kind of place.
Located on the shores of Lake Champlain in Burlington, VT, Hula was created to give entrepreneurs and remote workers a reason to stay in Burlington. The complex is 150,000 square feet with 20,000 of it dedicated to “air desks” and dedicated desks” and the rest private offices and large suites.
When asked to rank order the value of their membership, they put community first and a place to work third.
Hula has a four-year waiting list for their private offices and five hundred air desk members.
WHAT? Yes. Have a listen for all of the details.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 02 Aug 2023 - 57min - 321 - 312. New Rules in Effect for Coworking Spaces Providing Mail Service
If you are offering a mail service to either physical or virtual members, there are updates to the CMRA requirements that you must comply with.
This episode covers the updates.
The new rules apply to anyone providing mail service to physical and/or virtual members.
Resources Mentioned in this Episode:
Article from Allwork on the changes
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 26 Jul 2023 - 38min - 320 - 311. Why you Need to be Prepared to Sell a Landlord on You and your Business Model
With 25% commercial office vacancy rates in major markets in the US, we may assume that landlords will sell US on being their tenant and throw ample tenant improvement dollars and months of free rent our way....but that is not the case.
Landlords are more risk-averse than ever, and they likely perceive you and your startup business to be risky.
If you want to increase the chances of winning an ideal location for your coworking business, you'll want to be prepared to sell the landlord on your business model, and you as the owner of the business.
In this episode, we walk through the steps to take to do that.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 12 Jul 2023 - 15min - 319 - 310. Shannon & Emiliano Lerda Share the Behind the Scenes of Elevator, their Cowarehousing Business
Shannon and Emiliano Lerda founded a cowarehousing space in Omaha, Nebraska. In less than a year, they have 58 business members, 70% of which are women or minority-owned. Elevator serves small to medium-sized businesses, e-commerce companies, and makers through co-warehousing & community.
Shannon and Emiliano dive into their version of the cowarehousing business model, their real estate model, fundraising, their tech stack, their business journey, lessons learned, and more.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Thu, 06 Jul 2023 - 1h 01min - 318 - 309. Navigating the Sale of Your Coworking Space: An Insider's Guide
In this episode, explore the end-to-end process of selling a coworking space. We dive into when to sell, preparing your space, valuing your business, identifying potential buyers, and negotiating the deal. Whether you're considering selling due to personal life changes, retirement, or a shift in business interests, this episode is designed to prepare you for each stage of the process.
Resources Mentioned in this Episode:
Business Made Simple Podcast on Selling your Business
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Thu, 29 Jun 2023 - 27min - 317 - 308. Part II. Automating your Coworking Space Operations So Your Team can Focus on the Humans
This podcast episode is Part II of a two-part series. If you missed Part I, go back to episode 307!
Brian Watson is the founder of Alt Space.
Alt Space has 7 locations, no employees, and hundreds of happy customers...
In Part II of this series on automation, I talk with Brian about how automation makes sub- 5,000 sq/ft coworking financially sustainable while increasing reliability and consistency for customers.
He walks through the four customer types that the Alt Space automation program ideally serves.
He describes how the automation frees up the human ambassador or Community Manager to focus on hospitality, community building, etc.
Resources Mentioned in this Episode:
Book a Demo: https://altspacecowork.com/early-access
Brian and Everything Coworking’s first episode on Youtube: Making Small Coworking Spaces Sustainable Through On-Site Automation
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 21 Jun 2023 - 30min - 316 - 307. Part I. Automating your Coworking Space Operations So Your Team can Focus on the Humans
This episode has two parts - this is Part I of two.
Brian Watson has been iterating an approach to "ambassador" staffed coworking. He centralizies and automates as much of the sales process, operations, marketing, etc. as possible and lets his on-site ambassador focus on meaningful human interactions. The template for a coworking business model includes a full-time Community Manager.
But we know that Community Managers spend a lot of time on things that aren't...community-related. In our conversation, we talk about the systems and technology Brian is putting in place to create alternative staffing models.
Resources Mentioned in this Episode:
Book a Demo: https://altspacecowork.com/early-access
Brian and Everything Coworking’s first episode on Youtube: Making Small Coworking Spaces Sustainable Through On-Site Automation
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 14 Jun 2023 - 40min - 315 - 306. Empowering Spaces: Stories of Women-led Coworking
In this episode, we feature a special guest: a female coworking space owner who has created a coworking space specifically for women. Join us as we explore her journey, discussing the motivations behind her space, the unique offerings it provides, and the challenges she has faced. Gain valuable insights into the benefits of coworking for professional and entrepreneurial women, and discover how this dedicated space fosters a supportive and empowering environment.
Whether you're a coworking space operator, an entrepreneur, or simply interested in the coworking phenomenon, this episode offers a glimpse into the experiences and successes of a woman who is making her mark in the industry. Tune in for an insightful conversation about the evolving landscape of coworking and the impact it has on women in the workforce.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 07 Jun 2023 - 56min - 314 - 305. Elevating Furniture Procurement for Coworking Spaces with Lance Amato
🎙️ On this episode, I sit down with Lance Amato, an esteemed architect and industry expert, to explore how Canoa Supply is revolutionizing furniture purchasing for coworking space operators.
💺 Lance shares his invaluable insights on how Canoa Supply can help operators buy better furniture that offers superior quality, innovative design, and sustainability. With his background in architecture and experience in designing numerous WeWork locations, Lance brings a wealth of knowledge to the conversation.
🌿 We delve into Canoa Supply's commitment to sustainability, discussing their efforts to offer eco-friendly furniture options. Learn how incorporating environmentally conscious choices into your coworking space can create a positive impact on both the environment and the member experience.
Resources Mentioned in this Episode:
The Canoa Supply Co. PBC website
Everything Coworking Featured Resources:
If you’re thinking about a non-traditional deal structure as a landlord or operator, join us for our upcoming webinar on June 9th: Three Things Landlords and Operators Should Know Before they Start Negotiating a Creative Deal Structure for a Coworking Space.
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Wed, 31 May 2023 - 1h 00min - 313 - 304. Commercial Property Ownership and Coworking: Unveiling Trends and Strategies for Success with Jerry Alexander
In this episode, we dive deep into the dynamic world of commercial property ownership and the opportunities it presents for creating and managing coworking spaces. Jerry shares his wealth of knowledge, discussing the emerging trends, challenges, and strategies he's observed in the industry.
Discover the advantages and considerations of owning the property that houses a coworking space, and how it can impact the overall business model and success. Jerry sheds light on the symbiotic relationship between commercial property ownership and the coworking ecosystem.
Gain valuable insights into optimizing space utilization, designing flexible environments, and attracting and retaining members in a competitive market.
Resources Mentioned in this Episode:
Jerry’s Website: Commercial Property Investor
Jerry’s Links:
https://www.instagram.com/jerryalexander.commercial/
https://podcasts.apple.com/ie/podcast/commercial-property-investor-podcast/id1502254406
https://flourmilldundee.co.uk/
https://commercialpropertyinvestor.co.uk/
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 24 May 2023 - 57min - 312 - 303. Adding a Course or Membership as a New Revenue Stream
Have you thought of adding a course or membership as a new revenue stream?
In their upcoming workshop for coworking space owners, Jess Bommarrito and her business partner Crystal are going to share
Our simple 5-step recipe to create and launch your course like a pro with zero time and money wasted
How to fast-track your results by avoiding common pitfalls in the early stages, and what to focus on instead
The secrets to selling your course before it's even created (nothing lights a fire under your butt to get it done like eager fans waiting for your course to drop!)
BONUS: Discover how a coworking space owner used flex and dedicated desks to skyrocket their business. No private offices needed (psst: this is a game changer!)
Date: Wed May 17, 2023
Time: 1-2pm ET
Link to register: https://messybutdone.com/everythingcoworking
Resources mentioned in this podcast:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 10 May 2023 - 1h 01min - 311 - 302. Experiments in Third Spaces
I think we’re going to see demand for third spaces that are more of a work club approach than the traditional coworking/flexible office space that we see today.
Questions I’m asking:
How strong will the demand for third places that are not just designed for work, but designed for social/play/community events?
How will this business model work? What will drive profitability?
What will the offer mix look like? Food and beverage? Event space? Lounge space that looks more like the lobby at the Hoxton?
What markets will support social/work clubs?
What’s the minimum viable size for a social/work club model?
Who will take the risk and experiment with these models?
Resources mentioned in this podcast:
https://www.groundfloorclub.com/membership/
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 03 May 2023 - 24min - 310 - 301. What’s Your Success Path for New Coworking Space Members?
Coworking space operators tend to think that community integration happens organically for new members. That’s generally not the case.
Get intentional about setting your new members up for success. What is your Member Success Path?
What are the milestones that tend to get a member integrated into the community, and the space and yield longer retention?
How can you systematize those experiences to make sure they happen?
How can you train your team on those systems?
Listen to this episode for some thought starters.
Interested in our training on integrating a Membe Success Path into your coworking space? Join our Community Manager University or our Everything Coworking Academy for operators.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 26 Apr 2023 - 25min - 309 - Bonus Episode: How does Community Manager Work and Who is it Best for?Wed, 19 Apr 2023 - 13min
- 308 - 300. Coworking New Member Onboarding Hierarchy of Needs
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 12 Apr 2023 - 20min - 307 - 299. From Insights to Partnerships: Real-Life Examples of Positive ROI from Coworking Conferences
If you’re a coworking space owner, or thinking about starting one, attending a conference can be a great way to stay up-to-date with the latest trends and developments in the industry. But how do you measure the return on investment of attending a conference? That's what we'll be exploring today.
Benefits of attending a coworking industry conference:
Learning about the latest trends and best practices in coworking.
Getting access to insights and actionable tips that can be applied to your own coworking space.
Networking with peers in the industry, including other coworking space operators, vendors, and investors.
Potential for new business opportunities, such as partnerships and collaborations.
Costs of attending a coworking industry conference:
Registration fees: GCUC and the GWA are in the $500 to $800 range for early bird tickets.
Travel expenses: If the conference is out of town, you'll need to factor in the cost of airfare or transportation, as well as lodging and meals.
Time away from work: Attending a conference can mean taking time off from your regular duties, which can impact your business operations.
Calculating the ROI of attending a coworking industry conference:
To calculate the ROI of attending a coworking industry conference, consider both the costs and the potential benefits. Some factors to consider include:
Cost of attendance: How much did you spend on registration fees, travel, and lodging?
Value of knowledge gained: What new skills, insights, or best practices did you learn that can be applied to your own coworking space?
Potential for new business opportunities: Did you make any new connections that could lead to partnerships or collaborations?
Case studies:
I share a few case studies from coworking conferences that I’ve attended - partnerships formed, collaboration ideas sparked, and introductions that led to new job opportunities
Tips for maximizing the ROI of attending a coworking industry conference:
Plan ahead - Set specific goals for what you want to achieve at the conference.
Go beyond the content - attend social events and make connections with other attendees.
Schedule time to follow up with new connections after the conference to maintain those relationships.
Wed, 05 Apr 2023 - 24min - 306 - 298. Jamie Orr on Opening a Second Coworking Space Location in a Mountain Town on a Management Agreement
Sometimes you know the “what” but not the “how.” Jamie and David Orr knew they wanted to expand their original CoWork Tahoe coworking concept started in South Lake Tahoe in 2012…but they didn’t know where or how until they encountered a local entrepreneur that was buying a building and wanted to bring coworking to a gem of a town about 20 minutes from South Lake Tahoe. Jamie & David entered into a management agreement with the owner to create Untethered - Outdoor Inspired Workspace. In this episode, Jamie shares their journey on how they’ve created their second thriving coworking space in a small market.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 29 Mar 2023 - 55min - 305 - 297. Part II: What To Do When You’re Selling A Coworking Product That People Aren’t Searching For
In this episode, we talk about:
The total addressable market for coworking is larger than ever with remote employees free to decide where they work and small businesses giving up their long-term leases.
Even with this influx of potential customers, some coworking spaces are struggling to fill dedicated desks and flex memberships.
That is likely because these new potential customers aren’t aware that there are solutions to the challenges they feel in their current working environment. They don’t know that feelings of loneliness, loss of productivity, lack of mojo, etc. can be improved by joining a coworking space (and not paying for an office).
They aren’t solution-aware and therefore aren’t searching for you…
So how do we connect the dots?
Resources Mentioned in this Episode:
296. Part I: Why the Best Business Models are Known Prescriptions for Known Problems
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 22 Mar 2023 - 37min - 304 - 296. Part I: Why the Best Business Models are Known Prescriptions for Known Problems
In this episode, we talk about:
Why your coworking business needs to focus on solving a problem for a customer that they are aware they have.
Why your solution set should be grounded in solutions that they are already aware of.
Everything Coworking Featured Resources:
Save 50% on your first year with OfficeRnD Flex and grow your coworking space. Apply now!
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 15 Mar 2023 - 22min - 303 - 295. Ryan Simonetti, CEO of Convene, on Activating Buildings for Landlords
Ryan Simonetti is the CEO and co-founder of Convene.
Convene is a leading hospitality company founded off the simple question: “What if you ran an office building like a hotel?”
Convene’s model is more relevant than ever in a post-COVID world…I think it’s interesting to focus on how they are serving today’s modern landlord.
We talked with Ryan about
Convene’s recovery from the pandemic.
How the reception to Convene from landlords has changed over the past few years.
Convene’s recent acquisition of etc.venues and what that means for their high-end meeting business.
How Ryan’s mom’s love of antiques and his dad’s entrepreneurial drive shaped his journey.
Convene supports modern landlords by offering flexible workspace solutions that meet the evolving needs of tenants and the market. With a focus on creating modern, flexible, and tech-enabled spaces, Convene helps landlords optimize their real estate portfolios and attract top tenants.
Through its partnerships with landlords, Convene also helps drive demand for the building, increasing occupancy rates and revenue for the landlord. With a focus on creating flexible and dynamic spaces, Convene helps landlords future-proof their portfolios and adapt to the changing needs of the market.
Resources Mentioned in this Podcast:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 08 Mar 2023 - 55min - 302 - 294: Insights from the Q4 2022 Hybrid Workplace Index Issue
The LiquidSpace Hybrid Workplace Index provides unique insight into actual employee behaviour when afforded the freedom to work from anywhere.
The LiquidSpace user-base is comprised of organizations of all sizes - F1000 multinational enterprises, dynamic startups, small businesses and solopreneurs - representing a diverse cross-section of industry verticals – including federal, state and local government, finance, insurance, real estate, healthcare, technology, professional services, legal and education.
The report explores:
Continued employee engagement with flexible working
Collaboration driving hybrid workplace spend
The average cost of flexible workplace transactions and how they are trending upwards
The shift in bookings from Central Business District to the suburbs
Hybrid workplace activity by day of the week
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 01 Mar 2023 - 37min - 301 - 293. Your Coworking Space Can Be Different If it’s Serving your Ideal Member
There’s a “typical” model in Coworking that, when combined with a great location, design, product mix, and marketing that aligns with a clearly defined ideal member, is optimized for profit.
A lot of folks drawn to starting “Coworking spaces” are inspired by a shared workspace model centered around a thriving community….but they have a specific end-user in mind that is not your typical freelancer or remote user. They are serving a unique audience. Their offerings will be “different.” We see a LOT of those folks in our Coworking Startup School and Accelerator program.
There’s so much room for diversity of spaces and approaches in coworking. But there’s also a lot of room to end up with a model that isn’t financially sustainable.
In this episode, we talk about how to pursue a variation on the “typical” Coworking model and find success.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 22 Feb 2023 - 18min - 300 - 292 Your Coworking space doesn't have to be different, it has to be right
How much focus should you put on creating a “unique/different” Coworking space? While some differentiation can be helpful in attracting customers, it's not the factor that will drive success. A coworking space that differentiates itself with unique features or services may attract some customers, but if those features or services aren't aligned with the needs and preferences of the target market, the space may struggle to attract and retain customers.
On the other hand, a Coworking space that has a strong product market/fit, even if it doesn't differentiate itself much from other coworking spaces in the area, is more likely to be successful. By offering the amenities and services that its target market needs and wants, and by creating a sense of community and collaboration, the coworking space can build a loyal customer base and stand out from competitors in the eyes of its customers.
On this episode, we talk about why “different” doesn’t matter…what does matter is getting the model right.
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 15 Feb 2023 - 20min - 299 - 291. A Serial Entrepreneur Runs Automated Coworking Model +Coffee Kiosk
David Andras is a serial entrepreneur who, like many of you, opened a Coworking space to solve a personal pain point. He opened it right next to a gym that he owns…and then he added a public-facing coffee kiosk that adds a service for members as well as a meaningful revenue stream on top of the typical Coworking sources of income.
David shares how he balances operating and innovating, running multiple businesses at once (and starting new ones!) and how he keeps his coworking spaces lean and profitable while providing a great member experience.
Resources Mentioned in this Episode:
The Coffee Kiosk Licensing Info
David’s Podcast - Scaling your Business
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 08 Feb 2023 - 55min - 298 - 290. Alex Neil on his “Word on the Street” 2023 Coworking Trends
Alex Neil was early to Coworking…fuelled by his desire to work for an Indianapolis company…in Denver.
He worked on the operator side for about 7 years and then joined Proximity.
Alex spends his days talking with operators and finding solutions to their challenges through technology.
Alex shares his behind-the-scenes perspective on what Coworking trends are starting to bubble to the surface in 2023.
Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 01 Feb 2023 - 46min - 297 - 289. The Future Workplace is Creative Cubes
Creative Cubes is the model for the future of work.
Tobi and his team have created an ecosystem that delivers great design, high-end design, unparalleled workplace hospitality, the hottest fitness options, event space, and more. I predict that what Tobi is already doing at Creative Cubes is where most of the industry will ultimately go. I don’t think there’s a long-term desire for “just office space.” In the age of the experience economy, we simply want more.
On this episode, Tobi covers:
How he got into coworking How over time, he created an ecosystem including work space, wellness, and hospitailty through CreativeCubes, Orange Theory, and Timber and Greens How the Happyness Team came to be and how they serve the CreativeCubes membersResources Mentioned in this Episode:
Toby’s visit with Shaquille O’Neil
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 25 Jan 2023 - 1h 00min - 296 - 288. What I’m Thinking About at the Beginning of 2023
On this episode, I share what I’m thinking about/what questions I’m asking at the beginning of 2023.
What are the big themes in flex/coworking this year?
How will we see these trends play out?
How will these trends impact operators and other flex constituents?
How can I embed more access drivers into my curriculum?
And more!
Resources Mentioned in this Episode:
Mark Gilbreath’s “Postcard from the Future” blog post
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 18 Jan 2023 - 24min - 295 - 287. How Dorothy & Dan Grew to Three Locations in a city of 28,000 in Upstate NY
Dorothy had to talk Dan into turning the building they had just bought from Skidmore College into a Coworking space. It took convincing over one, maybe two, bottles of wine….and then it took six months to get members. But here they are, a few years later, filling up space #3, and this one is another addition to their LL portfolio.
Insights from Dorothy and Dan:
It is possible to build a multi-site Coworking portfolio and run another significant business. There is no one-size fits all model - they own 2 locations and lease another. Always be learning - they’re super stoked about the new platform they’ve used to fit out their latest location - see the link below to learn more. The future of flex is flexible…and good for the environment. You don’t have to be 100% sure before you take the leap, but you have to know what’s at stake. Sometimes you have to negotiate with your business/life partner over wine to get your way. You can have multiple locations in a smaller market if you get the product/market fit right.Resources Mentioned in this Episode:
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 11 Jan 2023 - 1h 01min - 294 - 286. John Wallace, CEO of Workbox, on an Asset-Light Model Differentiated with Service
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
John Wallace, Co-founder and CEO at Workbox, started his real estate career on the asset management and investment management side. Now he’s on the operating side, betting on an asset-light model differentiated by a platform that provides services to growing companies.
John shares the Workbox journey to date, how the Workbox team executes its asset-light, service-heavy model, his vision for Workbox for the next few years, and how they’re differentiating themselves in the flex industry.
Tue, 03 Jan 2023 - 45min - 293 - 285. 3 Books that will Impact your Coworking Business
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
In this episode, I recommend three books that will impact your coworking business or your entrepreneurial life.
Unreasonable Hospitality - The Remarkable Power of Giving People More than They Expect
Quit - The Power of Knowing When to Walk Away
Four Thousand Weeks - Time Management for Mortals
Wed, 28 Dec 2022 - 21min - 292 - 284. Alaethea Hankins, VP of Ops at CommonDesk, on Leading through Change
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Alathea Hankins is the VP of Operations at CommonDesk. She started as a part-time Community Manager after surviving six interviews and a happy hour to get the job.
Through Alaethea’s six-year tenure, CommonDesk has grown to 20+ locations and been acquired by WeWork.
In this episode we talk about:
How life has changed since the WeWork acquisition The relentless focus on culture and customer experience that is part of the CommonDesk DNA What it means to be a “DayMaker” How the CommonDesk membership has changed post-COVID….and more.
Wed, 21 Dec 2022 - 59min - 291 - 283. Peter Chee, Founder of Coworking Brand Thinkspace, on Getting Perspective
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Peter Chee founded Thinkspace in 2008. He had bought a 40,000-square-foot building with his dad and wanted to re-create the collaborative environment he'd enjoyed during his startup days.
He turned half of the building into the original Thinkspace location. He now also leases space in Redmond, Washington for his 2nd location.
His spaces focus mostly on the tech startup community and are office heavy because that's what his members want... but they're also modern and community-focused.
Peter recently had some reckoning to do with himself about where to focus his time and he decided to get some perspective, he'd buy one-way flights to different cities until he was tired of being on the road. He worked from coworking spaces around the US for three months with a stopover in Chicago to run a marathon.
He shares his story, what's working today in his business model, and his unique approach to getting clarity on what's next.
Wed, 14 Dec 2022 - 1h 04min - 290 - 282. How Gina Schreck’s Marketing Background and Flair for Events Attracts Coworking Members
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Gina Schreck is the owner of Village Workspace, a Coworking space in Centennial, Colorado that opened in March 2020. The space has 30 offices in 11,000 square feet She has always been entrepreneurial, starting her first business at age 23. Prior to opening her Coworking space, Gina ran a marketing agency for 26 years. Gina's background in marketing has helped her to build a successful Coworking business by attracting customers and hosting events. Not only is the Village Workspace a strong community, but it’s a bit of a family affair - Gina’s daughter is on her executive team :)Wed, 07 Dec 2022 - 49min - 289 - 281. Combining Fitness and Coworking for a Healthier Workplace
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
In today's business world, more and more people are working remotely. And while this can have its perks, it can also be quite isolating. That's why coworking spaces have become so popular in recent years. They provide a place for remote workers to come together, share ideas, and collaborate.
But what if you could take the concept of a coworking space one step further? That's what Ben Wales is doing with his new project, which combines a coworking space with a gym. By providing members with access to both physical and mental health facilities, Wales is hoping to create a space that will not only boost productivity, but also promote wellness.
So far, the response has been positive and Wales is optimistic about the future of his hybrid model.
Listen in to our conversation to hear Ben’s lessons learned in his first few months of business.
Wed, 30 Nov 2022 - 1h 01min - 288 - 280. Chelsea Siver on How to Be a Rockstar Coworking Community Manager
Resources: Please list these at the top of the Libsyn Show Notes
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Workspace Collective on Instagram
Chelsea Siver is the long-time Community Manager at Workspace Collective in Ocala, Florida.
She’s been in the role for just over three years and loves it because she gets to help people every day.
She shares:
Some of the challenges of the job including remembering to take breaks and refresh herself. From her perspective, what makes a great Community Manager How she handles a prospective member that doesn’t seem like a good fit for their community. An inside look on how the team has scaled to two locations with one more on the way in 2023.Wed, 23 Nov 2022 - 52min - 287 - 279. William Edmundson on Getting the Right Things Done in Your Coworking Business using EOS
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
William’s email address: williamledmundson@gmail.com
William Edmundson brings a unique background to today’s coworking industry. He has roots in hospitality, he’s been deeply involved in C-Suite level operations and marketing for leading hotel and coworking franchise brands. William was recently the COO of Office Evolution, one of the largest operators in the coworking industry, and the Global Workspace Association Executive Director.
One of his passions, which grew out of the success he had with the system at Office Evolution and the GWA, is growing businesses using EOS.
In this episode, we get into:
William’s unique background combining hospitality, franchising, and coworking A couple of case studies on the success he’s had applying the EOS to coworking businesses What size/stages of businesses can benefit from EOS How EOS can help keep visionary founders focused on driving resultsWed, 16 Nov 2022 - 52min - 286 - 278. 2023 Planning for your Coworking Business
Looking for simple software to run your coworking space that was built by coworking space operators for coworking space operators? Reach out to Proximity today
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
In this episode, I walk through a 9-step framework for 2023 planning for your coworking business.
If you'd like the accountability of planing with friends, join us for a two-part live workshop series in early December 2023.
If you are an Everything Coworking Academy member, you’ll get an invitation to the workshop via email.
Wed, 09 Nov 2022 - 42min - 285 - 277. Luke Wills on Staying Nimble and Setting up for Extreme Growth
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Wed, 02 Nov 2022 - 58min - 284 - 276. The COO of Pacific Workplaces Shares His 20 Years of Experience on How to Grow a Team
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Scott Chambers is the COO of Pacific Workplaces. PAC (for short) has locations all over the San Francisco Bay Area and has recently expanded to Las Vegas, NV and Phonix, AZ.
Scott has been in the industry for 20 years.
I asked Scott to share his experience on how to grow a team to support location expansion while maintaining profitability. But we covered a number of topics including:
- What he’s most excited about 20+ years into this business? What the PAC portfolio looks like - size, product mix, locations, etc. What the PAC team structure look like at the location level. What the PAC team structure looks like at the corporate level. The systems the PAC team has in place to stay focused on their goals. Some of the things they do to build a strong culture including their quarterly manager meetings adn their annual PAC day.
Wed, 26 Oct 2022 - 1h 04min - 283 - 275. 3 Things to Take Action on in Your Coworking Business Before the End of the Year
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
We are well into Q4 with the end of 2022 right around the corner.
On this episode, we dive into three things you should get done before the end of the year:
- Make sure you have an automatic rate increase in your (office) membership agreements. Do a competitive pricing analysis so that you can compare price/seat across different offerings (flex desks, dedicated desks, small offices, large offices) and decide your pricing strategy for 2023. Determine what revenue stream you will focus on in 2023 and work it into your annual planning. Dedicate time and budget to invest in building up your virtual office program or your meeting room revenue.
Wed, 19 Oct 2022 - 19min - 282 - 274: Lessons learned from 4,000 feet to 26,000 feet - with Dana Berggren
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Dana Bergrenn opened her first coworking space, The Coop Cowork, in 2017 - 4,000 square feet of primarily offices with some community space. In December 2021, she closed her agreement for her second space which is just over 20,000 square feet.
We talk about:
What her mindset was when she grew her coworking business from 4,000 feet to a total of 24,000 feet. How she structured her real estate deal for her first location to include equity in the building How the real estate market has shifted in Las Vegas from 2017 to 2022 and how that has impacted her business. How she’s learning to delegate now that she requires team members to run her business.Wed, 12 Oct 2022 - 1h 09min - 281 - 273. Event Business in Coworking Spaces is Hot
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Coworking spaces have become a popular option for hosting events. These versatile venues can be easily customized to accommodate a wide range of events, from small team meetings to large corporate functions. These spaces offer several advantages over traditional event venues, such as hotel meeting rooms.
First, Coworking spaces are more flexible and can be customized to meet the specific needs of each event. Second, Coworking spaces are designed to promote collaboration and creativity, making events more productive and enjoyable. Finally, these spaces are typically more affordable than traditional event venues.
In this episode, we cover how Coworking spaces are an increasingly popular option for businesses of all sizes!
Wed, 05 Oct 2022 - 19min - 280 - 272. The Coworking Real Estate Model - Lease, Buy or Management Agreement
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
One important factor in determining the success of your coworking space is the real estate model you choose. There are three primary models for coworking spaces: lease, buy, and management agreement. Each option has its own pros and cons, so it's important to carefully consider your options before making a decision.
The lease model is often the simplest and most straight-forward option, but it also comes with the highest risk. If your coworking space doesn't succeed, you could be left with a large rent bill and no tenants.
The buy model gives you more control over your space and can be a great long-term investment, but it requires a significant amount of upfront capital.
The management agreement model is somewhere in between, giving you more flexibility than a lease but less control than owning your own property. Ultimately, there is no right or wrong answer when it comes to choosing a real estate model for your coworking business - it all depends on your specific situation and goals.
In this episode, we dive into each model and review the pros and cons.
Wed, 28 Sep 2022 - 28min - 279 - 271. Why the Coworking Brand The Wing Failed
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
The Wing abruptly closed its doors a few weeks ago.
The lack of transition time for its members is one topic.
The other aspect to examine is how a brand now owned by the largest public flexible workspace brand, IWG (parent of Regus, SPACES and others), failed.
If you’ve only followed The Wing on social media and in the press, you might be surprised by their failure. They quickly built a compelling brand and a network of high-end, boutque, bespoke-designed spaces in major markets, and garnered a lot of press for their efforts and focus on girl power.
If you’ve run a coworking business and visited a Wing, you probably saw past the social media stories.
I visited two of their locations—one in Georgetown, Washington, D.C., and one in San Francisco.
I was a card-carrying member of the San Francisco location as of the San Francisco location for about a month. I joined in March 2020.
Our company accelerates the launch and growth of coworking spaces. We help operators decide how big their space should've and what their product mix should be based on their profit goals and access to startup capital. Unless someone joins our Coworking Startup School after they've signed a lease, we would strongly warn against 10,000 square feet of purely open plan seating, open on the weekends, staffed to the max, in high-rent districts.
Could the Wing succeed without COVID dragging down its balance sheet, and in about 2,000 square feet in first and second-tier markets? We think so.
We break down their breakdown on this episode.
Wed, 21 Sep 2022 - 21min - 278 - 270. 5 Truths About the Size of your Coworking Space
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
- The profits from your coworking space are usually highly correlated to the size of your coworking space…until your supply is too large for your market demand. Smaller spaces can be more profitable with diversified revenue streams such as business identity packages, events, f&B offerings (uber eats originator) and specialized/niche memberships Smaller spaces don’t work for management agreements. If the LL is trying to beat market rent, but has to pay out a management fee in addition to paying the opex….the premium to market rent is not usually high enough to make it work. If you are running a small space and you are getting to your take-home pay goal by being the community manager, make sure that it makes sense for you to be doing that job. 1) I hope you love it if you’re doing it. 2) The community Manager role is generally a $20-$27/hour job. If you can make more per hour, you should consider doing something else. Example - all of the space owners that run other businesses. It’s hard to create the diversity of workspaces that people want in a small space. The intentional design will matter a lot.
Wed, 14 Sep 2022 - 34min - 277 - 269. Exploring Relevant Coworking Models in a Post-COVID World
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Learn more about SUCCESS Space
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Coworking has long been seen as a solution for the mobile worker, and that demand has only increased in recent years. coworking spaces offer a variety of membership plans that allow users to cowork when it's convenient for them, and businesses have coworking spaces to thank for an increase in productivity and creativity. However, the coworking landscape has shifted in the wake of the Covid-19 pandemic, and it's important for coworking businesses to adapt their models to fit the new market. SUCCESS Space is one such example, and their President Ted Laatz shares why they've gone with a unique approach that he believes will serve their customers well in the post-Covid world
Wed, 07 Sep 2022 - 36min - 276 - 268. Demystifying the process of letting your coworking members use your address for their Google Business listing
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Find Amy Toman on:
Amy Toman, works as a Local SEO Specialist for Digital Law Marketing, and she has her own business, Pet Sitter SEO (but she specializes in working with all small businesses).
She is also a Google Product Expert for Google Business Profiles. She spends her spare time volunteering to help business owners by answering their questions on the Google Business Profile forum.
In this conversation, Amy demystifies some of the top questions that coworking space owners have about protecting their Google Business Profiles if they allow their members to use their addresses for their own GBP listings.
Here are some questions that I posed to Amy:
- Can I let members use THE SAME address as mine for their GMB listing? Businesses that don’t need a commercial address Is there a risk that our listings get taken down if they are duplicate addresses or does Google understand? What does Google require of the member company (and me) for the listing to be legit? Do they need to spend time in the space? Do they need signage? What if they are virtual members that are not actually ever in the space? How does Google enforce its rules? What are the consequences for me as an owner if I don't follow Google's rules? What about the member using my address?
What if...
- What do I do if I have a virtual member that signs up through a third party lead generator and I get a Google Business verification card in the mail from them...they have no signage, they haven't paid
- What if a member uses my address and then discontinues membership but their Google Business address is still active and they're still using my address?
- What if somehow someone using my address gets control of my Google Business listing and it becomes theirs? (I saw this happen to a very established operator)
What else should we know about protecting my Google Business Profile?
Wed, 31 Aug 2022 - 28min - 275 - 267. How to Conduct a Website Audit for Your Coworking Space with Taylor Mason
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Taylor’s website - subscribe to his newsletter
Taylor’s offer for a free website audit: www.talemaker.ca/audit
Related Podcast Episodes:
Kevin Whelan’s podcast episode on Google Ads
Reuben Lau on the podcast talking about SEO and SEM
Taylor Mason is a marketing expert for the coworking industry. On this podcast episode, he shares his framework for auditing coworking websites to identify ways to improve them. He begins by explaining why an effective website is so critical for a coworking business. He then dives into his website audit framework, which includes aspects such as design, user experience, content, and SEO. He provides detailed explanations of each of these elements and offers tips on how coworking websites can improve in each area. Finally, he shares some general tips for optimizing coworking websites. This episode is packed with valuable information for anyone who wants to improve their coworking website.
Wed, 24 Aug 2022 - 48min - 274 - 266. The Post Workspaces Co-Founders on What’s Working - FaceBook Ads, Content Marketing, Part-Time Private Offices and More
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Taylor Mason (Content Marketing)
Libsyn Description/Show Notes:
Dan Wesson and Chelle Peterson are the co-founders The Post Workspaces in northwest Tucson.
The Post just celebrated its 2nd year anniversary. The Post has had a major comback after losing most of it’s pre-sold offices upon opening in March of 2020.
Dan and Chelle went through our Coworking Startup School™, are members of our Flight Group Academy, our Community Manager University and went through our Creative Coworking Partnerships course. You can get more info on these programs here.
When asked what they’d do differently on their next space, they responded “honestly, not much.” Not many first-time operators will say that…but Dan and Chelle were really intentional from the beginning about everything from their business model to their product mix, to their member wall.
In this episode, we talk about:
How they got into coworking to solve a problem on a first-floor Class A building. What their partnership structure looks like with their landlord. Who they serve in their suburban Tucson area and how they designed a space with their ideal member in mind. How they’ve added suites to their offerings - that act as normal tenants, but have access to the Post (in their 90,000 feet Class A building). How they’ve successfully used FaceBook ads to market their memberships Their commitment to content marketing and how that’s served their business Their recent Community Manager hire from the hospitality industry and how that’s served their business. Why private, part-time offices are generating a significant premium over a typical officeWed, 17 Aug 2022 - 57min - 273 - 265. Why Newsletters Should be a Part of your Marketing Mix for your Coworking Space
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
Did you know….
A typical buyer requires 6-7 touch points before a sale. Your organic social media reach is only10% of your audience Your marketing newsletter open rate should be above 20%...ideally much higher with a “clean” listA newsletter can be a simple and effective part of your marketing mix.
One simple, consistent format can serve both your existing members and your potential members (anyone on your email list that is not already a member).
On this episode, we cover:
Why newsletters should be an effective part of your marketing mix Who should get your newsletter What should go in your newsletter How often to send your newsletter.Wed, 10 Aug 2022 - 27min - 272 - 264. What is the real ROI on social media for your coworking space?
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form
Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.
In this episode, we’re diving into the ROI of organic social media for coworking spaces.
Social media may not be the best marketing tactic for coworking spaces.
Coworking spaces generate more revenue by:
- Adding more members Getting each member to spend more with them, or Getting members to stay longer.
Social media isn't the best marketing tactic to get these results.
Instead, focus on strategies that will directly boost your bottom line. For example, invest in online ads that target your ideal customer or offer discounts to members who refer new people to your space.
Write 1-2 monthly blog posts optimized for SEO to make sure you are found by active searchers.
Send consistent newsletters to your members and to your marketing list.
By spending your time and resources on more effective marketing tactics, you'll be more likely to see a positive return on investment for your coworking space.
Wed, 03 Aug 2022 - 23min - 271 - 263. David Brown On Why He’s Oversold His Flex Desks In His Two London Neighborhood Coworking Spaces
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
David Brown moved his family of 5 to London from North Carolina in 2019 and attempted to open his first coworking space in a London neighborhood in 2020. That didn’t go well until mid-2020 when neighborhood members needed Good Space and good community.
Here are my key takeaways from my conversation with David:
- He had a clear vision of what he wanted to create and didn’t waiver The success of Good Space (in terms of attracting members) is part art and part science. David and his team have a deep focus on building relationships with their 112 members. They want their members to feel seen and known in their space. They also pulled off that je ne sais quoi that you sense when you walk into a space that is “for you.” The vibe, the design, the coffee, the lighting. David and his team are intentional about what they’re creating. They take time to zoom out and reconnect with their mission and values. They make decisions based on their mission and values. He gave a great example around phone booths. More phone booths would get used, but would not align with the culture they have built. A lease on a small space is challenging, even with 112 members. David’s real estate structure going forward will be creating partnerships with landlords. David broke the week up into percentages and put pressure on the 28% that is Saturday + Sunday to earn their keep. They go all-in on evening and weekend events of all shapes and sizes and their event revenue is a significant and growing portion of their overall revenue.
Wed, 27 Jul 2022 - 50min - 270 - 262. 5 Reasons Coworking Spaces Fail
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
If you are working on a first location or an expansion, there are a few things you need to get right to position your coworking business for success.
Four of the most common mistakes that lead to space failure are decisions that are made before you even open a space. You can’t out-market or out-operate these mistakes.
- The location and/or product mix don’t align with the demand in your market and your ideal customer avatar The real estate deal is bad. The buildout is too expensive, your free rent period is too short, and your rent is too high. Your space is too small to align with your profit goals. You’re not capitalized well enough to get through the fill-up phase. You don’t have a marketing budget (this is the easiest problem to solve).
Listen to the full episode for a deep dive into each mistake.
Wed, 20 Jul 2022 - 41min - 269 - 261. Fiona Mayor on SEO Magic, Driving Meeting Room Revenue and Starting an Industry Association
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Fiona Mayor is the Founder at The Thrive Network. Director of Pop Media - Web Design & Social Media Agency.
She is also the Co-Chairperson of Flexible Workspace Australia.
We talk about:
- Her best lead source
- What’s selling today
- Her focus on meeting room revenue
- Why she doesn’t spend a lot of time on social media even though she’s a social media strategist
- Government support for Melbourne’s 15 minute city
- The next phase of Australia’s Flexible Workspace association
Wed, 13 Jul 2022 - 57min - 268 - 260. How Many Flex Desks Should My Coworking Space Have?
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
In this episode, we talk through a common question - how many flex desks should I have...and.. how many times can I oversell them?
We talk about the importance of validating your market demand for flex desks, what assumptions to include in your pro forma (if you're just starting) and what you might do if you have an existing space with too many flex desks.
Tue, 05 Jul 2022 - 33min - 267 - 259. Mark Gilbreath, CEO of Liquidspace a platform that enables anyone to work from where it works
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Mark Gilbreath is the CEO of Liquidspace, a Hybrid Workplace Management Platform.
We talk about the core premise that whether you're a one-person startup company in Berlin, or whether you're Stripe or Spotify or the U S government, companies are challenging their workplace and real estate and HR organizations to be radically more agile.
We also talk about:
- How companies need to be agile and be able to deliver “a great workplace, great collaboration, great culture opportunities to our employees, not in five or 10 more regions where we might put regional offices as was our pace pre-pandemic, but in hundreds or thousands of locations.”
- How HR and Real Estate teams realize “they need to be more personalized in how you deliver workplace experiences,” but also “radically efficient.”
- How HR and real estate teams are having a light bulb moment around the fact that coworking exists and it is flexible, experienced-focused and exists ion most places that their employees want to work.
- That Liquidspace recognized the need to “equip companies with the mechanisms to be able to make the discovery, the evaluation, and the transaction of coworking spaces by their employees more structured more regimented.”
Wed, 29 Jun 2022 - 54min - 266 - 258. The Dynamic Duo On Their Space-As-A-Service Business: Self-Storage, Coworking And Co-Warehousing
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
The Everything Coworking Academy
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Laura’s Podcast - Small Business Insights
Meet Laura and Dave Fisher - the quintessential EOS visionary and integrator.
They opened their first 15,000 square foot coworking space in 2020 on top of a self-storage facility in Sugar Land, TX in a building they built from the ground up.
They are now working on a 50,000 square foot co-warehousing facility in Houston, TX.
They are in the space as a service business.
They share:
- The story of how they ended up in the coworking business.
- Why they like to “own the dirt.”
- Some lessons learned and happy surprises in their first two years of business.
- What drives their 31 5-star Google reviews.
- Why Laura started her own podcast and whether or not their podcast studio generates revenue.
- Favorite part of running a shared office business.
- What they’re most excited about in the next 5 years.
Wed, 22 Jun 2022 - 58min - 265 - 257. What’s Working for Coworking Spaces Running Google Ads?
Everything Coworking Featured Resources:
The Everything Coworking Academy
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Launch Coworking - high end virtual tour
Reuben Lau is an online marketing strategist who does a lot of SEM and SEO work for coworking businesses. Reuben was first on episode #195 of the podcast on which he shared SEO and SEM tips for coworking spaces. I asked him to come back and talk about what’s working today for coworking spaces running Google Ads.
Some highlights include:
The new “performance max” feature in Google ads that gives Google Ads some Facebook Ads-type features such as retargeting and “lookalike” audiences. Using display ads for top-of-funnel awareness Putting social proof on the ad landing page - you will not believe the conversion rate increase this is driving! Whether or not it makes sense to put a virtual tour behind an email opt-in Meeting room ad conversion ratesWed, 15 Jun 2022 - 39min - 264 - 256. How to price your Coworking space offices
Everything Coworking Featured Resources:
The Everything Coworking Academy
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Pricing is both art and science.
On this episode, we talk about rules of thumb for pricing your coworking office spaces.
How to price vis a vis market rent What your target profit margin might be How to adjust pricing up to offset your rising expense costs How to frame the pricing of a small office to help the end consumer understand the full scope of value that is included in their membership.Thu, 09 Jun 2022 - 17min - 263 - 255. Coworking Plans that Provide Access
Everything Coworking Featured Resources:
The Everything Coworking Academy
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Pre-pandemic, we tried to avoid 10-day passes and custom plans. We wanted full time memberships and operational simplicity. Well…today’s coworking space user has changed our tune.
In this episode, we talk about:
- Looking at the 10 day pass as a “healthy” option for end users that needs to be sold in volume
- Designing access packages for teams - how to give them the access they need and getting the recurring revenue and predictability that your business needs.
- Testing meeting room access plans that build loyalty and recurring revenue
- Leveraging meeting room demand
Wed, 01 Jun 2022 - 26min - 262 - 254. Jason Anderson, President of the World’s Largest Coworking Franchise - Preview of Flex Uncensored
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Jason Anderson is the President of the World’s Largest Coworking Franchise, which today includes the brands Venture X and Office Evolution.
Check out the NEW Flex Uncensored Podcast with my co-host Giovanni Palavacini!
If that link doesn’t work, just search for it in your podcast player and hit that subscribe button!
Jason Anderson started his career in the Air Force when he was 17. His first deployment was to the UK where he was stationed over 9/11. Before that assignment, Jason had never left the country. Jason didn’t know at the time that some years later, he’d return to London to celebrate the expansion of a Venture X franchisee….one location that is part of a global footprint of the third largest coworking company in the world.
Jason had a vision (literally on a board) of creating the “Bonvoy” of coworking brands. He’s just getting started.
In this episode, he shares the “why” behind the Venture X acquisition of Office Evolution.
He talks through the way he looks at the flex industry through a hospitality lens.
We learn why it’s natural for VentureX to operate globally early in its life as a brand.
We also get some behind-the-scenes details on how the Venture X model has evolved over time and what Jason’s predictions are for the next 5 years.
Wed, 25 May 2022 - 25min - 261 - 253. Your Toolbox That Makes Meaning Happen - Call It Coworking, but It’s Much More
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Lindsay Hedenskog joined the Coworking Startup School in June of 2020 and officially opened on May 3, 2021. Lindsay is the CEO and co-founder of Lamb, a coworking space (but more) in Stockholm, Sweden.
Lamb’s big hairy goal is to help people make it normal to work and manage people with intention, empathy. Lamb is developing and providing the tools to create sustainable work cultures…inside of coworking spaces and out.
Lindsay and I talk about
- How she’s found a successful model that offers no dedicated workspaces
- How she is approaching marketing for a space that is kind of coworking but also much more
- Her team - which includes an event manager and a B2B sales manager and a head of marketing
Wed, 18 May 2022 - 1h 13min - 260 - 252. Scaling through Coworking Management Agreements with Ann Long
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Ann Long, founder of Burbity Workspaces, opened her coworking space in 2020. Since then, not only did she survive COVID, but she has expanded into two new locations through a management agreement and a marketing agreement with her landlord and is working on another partnership for a coworking + cowarehousing location.
In this episode, we talk about:
- Ann shares her evolution from a 4,000 square foot leased space to the deal she’s currently working on which is 28,000 square feet of coworking + 12,000 feet of co-warehousing.
- She shares the creative business models she’s using to expand.
- She also shares what roles are on her team and how she’s expanding her team to support her growth.
Wed, 11 May 2022 - 46min - 259 - 251. Carl Sullivan, a Coworking OG on Sticking to your Knitting
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Resources Mentioned in this Podcast:
Carl Sullivan’s coworking brand, Your Desk, is about to turn 11 years old (at the time of this recording). Carl was 24 when he started Your Desk. He was a builder and a house flipper who picked up on an office sharing trend that he saw happening at creative agencies and architecture firms. WeWork had just started its first location in Brooklyn when Carl opened Your Desk outside of Sydney, Australia.
Carl’s first location was 26 flex desks….today his model is 70% private space, 30% common space and he’s about to convert some team suites to one person offices.
After surviving COVID in an urban CBD, Carl and his team (which happens to consist of his talented interior designer mom and former house flipper dad), are ready to take more space in their building, continue to tweak their model, and work on optimizing their sales funnel.
In this episode, we talk about:
- Carl’s coworking story - how he got into it.
- Who Your Desk serves and how that has evolved over time, esp. Post-COVID? (i.e., freelancers, small businesses, corporate employees)
- The Your Desk portfolio and how that has changed over the 11 years
- What his family-run team looks like
- How Your Desk funded expansions
- Your Desk’s biggest source of membership leads
Wed, 04 May 2022 - 1h 02min - 258 - 250. What’s Selling in Coworking Today and What Customers Are YOU Serving?
Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
The Everything Coworking Newsletter - Subscribe here.
I've heard a number of coworking operators recently say that they simply don’t rely on open plan memberships (hot desks) to run a profitable business. They don’t worry about members that leave without notice. They don’t mind offering part-time memberships. They don’t sweat the small stuff. If you aren’t open yet, and you’re working on designing your coworking business, consider that approach. You’ll sleep better at night :)
For those of you that can’t turn a (healthy) profit in your coworking business without selling your hot desks and dedicated desks, hosting meeting rooms and selling event space, here’s what I think is going on in the market.
Wed, 27 Apr 2022 - 49min
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