🎙️ 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.
đź’ş 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:
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How strong will the demand for third places that are not just designed for work, but designed for social/play/community events?
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How will this business model work? What will drive profitability?
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What will the offer mix look like? Food and beverage? Event space? Lounge space that looks more like the lobby at the Hoxton?
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What markets will support social/work clubs?
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What’s the minimum viable size for a social/work club model?
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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:
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Learning about the latest trends and best practices in coworking.
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Getting access to insights and actionable tips that can be applied to your own coworking space.
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Networking with peers in the industry, including other coworking space operators, vendors, and investors.
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Potential for new business opportunities, such as partnerships and collaborations.
Costs of attending a coworking industry conference:
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Registration fees: GCUC and the GWA are in the $500 to $800 range for early bird tickets.
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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.
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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:
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Cost of attendance: How much did you spend on registration fees, travel, and lodging?
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Value of knowledge gained: What new skills, insights, or best practices did you learn that can be applied to your own coworking space?
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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:
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Plan ahead - Set specific goals for what you want to achieve at the conference.
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Go beyond the content - attend social events and make connections with other attendees.
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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:
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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.
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Even with this influx of potential customers, some coworking spaces are struggling to fill dedicated desks and flex memberships.
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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).
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They aren’t solution-aware and therefore aren’t searching for you…
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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
In this episode, we talk about:
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Why your coworking business needs to focus on solving a problem for a customer that they are aware they have.
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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
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
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Convene’s recovery from the pandemic.
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How the reception to Convene from landlords has changed over the past few years.
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Convene’s recent acquisition of etc.venues and what that means for their high-end meeting business.
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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
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:
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Continued employee engagement with flexible working
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Collaboration driving hybrid workplace spend
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The average cost of flexible workplace transactions and how they are trending upwards
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The shift in bookings from Central Business District to the suburbs
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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
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
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
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
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
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 members
Resources 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
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
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
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.