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
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
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
“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
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.
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:
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
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
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
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
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
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
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
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
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
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
🎙️ 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
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
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
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
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
Wondering how Community Manager University works and who it’s best for?
This bonus episode is for you.
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’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.
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
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