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Everything Coworking

The Everything Coworking podcast shares trends and how-tos for coworking operators and anyone following this exploding trend. Jamie owned and operated coworking spaces in Chicago and Palo Alto for eight years under the brand Enerspace Coworking. She was also the Executive Director of the Global Workspace Association for five years.
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Now displaying: September, 2022
Sep 28, 2022

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Everything Coworking Featured Resources:

 

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

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.

Sep 21, 2022

Follow Us on YouTube

Everything Coworking Featured Resources:

 

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

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.

Sep 14, 2022

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Everything Coworking Featured Resources:

 

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

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.

  1. 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.
  2. 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
  3. 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.
  4. 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.
  5. It’s hard to create the diversity of workspaces that people want in a small space. The intentional design will matter a lot.
Sep 7, 2022

Follow Us on YouTube

Everything Coworking Featured Resources:

 

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

 

Resources Mentioned in this Podcast:

SUCESS Space Youtube channel

Ted Laatz on LI

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

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