Coming out of COVID, leasing a space has become less attractive because the operator bears the most risk. If you are going to lease, you must work with a broker that will help you negotiate terms that will protect you from a business-killing experience like a global pandemic.
The appeal of a management agreement is that it shifts the risk to the landlord. The upside is significantly limited for the operator, but therein lies the tradeoff. In this episode, we're talking about why management agreements are becoming more accessible and how they're structured.
If you’re starting a coworking space or even looking to expand your existing business, it’s worth considering buying a building.
Roughly half of my Coworking Startup School students are building owners that already had a building and decided that its best use was to house a coworking space, or people that wanted to start a coworking space and wanted the benefits that come along with also owning the building.
When COVID happened, my most resilient students were those that owned their buildings and had to negotiate with their mortgage lender, but didn’t have to deal with the landlord that doesn’t get it or couldn’t afford to give them some rent relief as too many of their members cancelled contracts.
Today’s guest, Matt Maurice, walks us through his experience buying commercial real estate and creating a coworking business to be the only tenant.
Tell me if you ever feel this way: Your business is not where you want it to be, there aren’t enough hours in the day and you either don’t take time off or you just have a really hard time feeling like you deserve taking time off and letting yourself relax.
If you’re an achievement-oriented, driven business owner, you probably feel this way a lot. I’m always working on staying more focused and setting myself up to not feel guilty about taking some down time on the weekends or taking some time off. In this episode, I share some approaches that I’ve learned on my journey.
If you have a coworking space, and you’ve decided to do everything you can to keep your business afloat until we see the demand shift (which is already happening outside of the U.S.), you must commit to keep marketing, even when you don’t see the results. Fill the pipeline so that you have warm leads when your potential members are ready to head back to the office.
In this episode, I cover four things you and your team should keep doing to prepare for recovery.
If you are working on opening a coworking space, these are activities that you will want to bake into your team roles, so take notes!
Your on-site team drives member attraction and retention. You can have the best furniture, the best cleaning protocols, the most delicious locally roasted coffee, but none of that matters if your team isn’t attracting and retaining your best and most profitable members. Today we talk about how to hire and train your Coworking Community Manager.
In this episode, I cover:
- Why the Community Manager role is critical to your coworking business
- Profiles of successful Coworking Community Managers
- Where to post job postings for Coworking Community Managers
- How to screen candidates
- How to train Community Managers