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Entreprenuers are cutting ribbon in front of the Wingspace Coworking

How to get Free Market Research

We previously talked to Melanie Banayat of Wingspace in Prescott, Arizona who leveraged resources at a local college to get free market research.  Joanna Cabalquinto interviewed her once again to get a more in-depth guide on how it was done. Free Market Research Melanie’s very first step was to utilize the resources at a local college.  If this is available to you, take full advantage of it. Melanie reached out to Embry-Riddle Aeronautical University knowing they had a business program…

A pie chart and bar chart on a laptop representing the churn rate of a coworking space

Member Turnover – Churn Rate Optimization

A common recurring theme across various coworking focused groups and slack channels is member retentions (or optimizing member churn rates). It seems that some owners and operators have become obsessed with member retention and new entrants are wondering if this is a metric they should track and focus on. Or is it just a vanity metric?  We recently had the opportunity to sit down with Sajid Islam, founder of Hubdhaka coworking in Dhaka, Bangladesh to get his insights and put…

Shahzad Bhatti at The Coworking Pop-Up

Shahzad Bhatti : Dubai’s Coworking Pop-Up

On May 10, 2018, Sajid Islam interviewed Shahzad Bhatti and below is the summary of the conversation. From Recession to Future Vision Shahzad Bhatti comes from a real estate background and worked in commercial real estate during the recession both in London and Dubai.  Shahzad moved to Dubai nine years ago. Dubai was impacted significantly when the recession hit.   With one client, Shahzad launched a business center but quickly learned that the business center model was becoming redundant. As…

Community people at day of GCUC 2018

GCUC 18 – Day 2 – Community Purpose

On day 2 of GCUC Nate Heasley, Executive Director of All Good Work, discussed how to give a coworking community purpose.  Social responsibility is becoming increasingly important and should be incorporated into coworking spaces. Social Responsibility Anti-Harassment and Equity When asked, very few people in the conference room confirmed that they have implemented an anti-harassment policy in their space.  A good space needs to be able to set standards for their community’s behavior and make sure that their members understand…

Jerome Chang at the GCUC 2018

GCUC 2018 – Day 2 – Financial Model

The Founder of Blank Spaces, Jerome Chang, constructed a financial model for a coworking space with the GCUC attendants.  Below is a review of the lecture. Internal Rate of Revenue (IRR) is how much you want to earn on an annual basis based on the amount of money you put in. There are about five traditional ways generate revenue: Meeting Rooms Largest hourly revenue, largest upfront cost, and variable occupancy 6-8 people rooms tend to fair better than the larger…