Re: [Coworking] Abridged summary of coworking@googlegroups.com - 14 updates in 5 topics

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Becky H Smith, Ed.D.

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Apr 2, 2014, 1:39:07 PM4/2/14
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Alex,
Great article!!!!!!!!!   

I have a question for the "group".  I have a nonprofit group called Adventure Scientists for Conversation using our one available office.   We charge $250 a month for 140 sq. ft.  He's now grown to 8 people and has asked to expand into our small conference room, which is 325 sq. ft.  We still have a larger conference room that can be used for small or large groups.  Right now, their expanding group uses the small one too when not rented.  

I had one commercial realtor tell me to charge $14/sq. ft. plus triple net of $3.  Then a another realtor I have been working with in exploring downtown space said my formula was all wrong.  He came over and wrote out the following:
Whole building sq. ft. = 5,250
Blue Ocean Innovation Center - 2500
Common Area in Blue Ocean - 1440 - large open work area and kitchen and couch area
Common Area in Entry Way and two bathrooms and access to outdoor area - approximately 510 sq. ft (shared by dental office in the other half

We own the building and pay $8,000/year as a member of a two building association for landscaping, parking, snow removal, trash/recycling.
We also pay $8500 in annual taxes for our building alone.
Coworkers get "free" printing and free color to a certain #, free coffee & tea...

The math formula provided by the last realtor said to figure out their percentage of entire Blue Ocean space, the # of sq ft of Common Area Space (CA), the triple net costs and come in with more square footage by percentage of their space and CA usage, charget $12 per square ft and $3 triple net...

Does anyone have a better formula or comments on the above.  I could let them us the conference room as they are and still charge more because they have grown from 2-8 employees and not give it to them at all...it has to make economic sense.  Thank you!  Becky, Founder



On Wed, Apr 2, 2014 at 2:08 AM, <cowo...@googlegroups.com> wrote:

Group: http://groups.google.com/group/coworking/topics

    Alex Hillman <dangerous...@gmail.com> Apr 01 05:27PM -0400  

    As the business aphorism goes, it's a lot easier to keep an existing
    customer than it is to get a new one.
     
    I know there are a variety of systems out there that people are using, I'm ...more

    Back to top

    Jacob Sayles <ja...@officenomads.com> Apr 01 02:43PM -0700  

    Fun stuff! Yes, we track this stuff in Nadine and have some staff facing
    stats pages that show us some basic data. I'd love to dive deeper and I'm
    always trying to recruit data nerds that want to ...more

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    Glen Ferguson <glen...@gmail.com> Apr 01 06:03PM -0400  

    I recently started calculating average monthly recurring revenue, average
    member lifetime, average lifetime of past members, member lifetime value, %
    renewal rates (which is the opposite of churn, ...more

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    rachel young <rac...@camaraderie.ca> Apr 01 07:14PM -0400  

    We've tracked member usage since almost day 1, which was 4yrs ago, so we
    can see how long a member has been here, when their anniversary date is,
    and what their usage patterns are. ...more

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    "Eric Y.F Lim" <er...@pc.jaring.my> Apr 01 04:59PM +0800  

    Very good idea! I tried to register my spare table ..... then I realized
    today is 1st April :D
     
     
    ...more

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    Victoria Arnold <desk...@gmail.com> Apr 01 02:16AM -0700  

    haha yes! so did I... renting your desk while you're at the bathroom...
    talk about resource utilisation
     
    On Tuesday, 1 April 2014 09:59:27 UTC+1, Eric Y.F Lim wrote:
    ...more

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    "Christian M. Macy" <christia...@gmail.com> Apr 01 02:19PM -0700  

    But seriously has anyone found a good way to tie in with AirBnB so that
    when someone is visiting they know where they can go to work other than the
    living room or a coffee shop?
    ...more

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    Rena Tom <bob...@gmail.com> Apr 01 02:34PM -0700  

    I talked to them well a year ago about something like this. They were
    starting a neighborhood ambassador program where people would be directed
    to the local coffee shop where they could learn the ...more

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    "Piotr Boulangé" <piotr.b...@gmail.com> Apr 01 10:06AM -0700  

    This is very good paper for starters! and also the coworking space looks
    great. Nice website BTW
    Thank you for sahring. If I should have any question, I'll get back to you.
     
    PB
    ...more

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    Soleil Onoya <outsid...@gmail.com> Apr 01 10:50AM -0700  

    Hi Tamara,
     
    Thanks for sharing that link. It's quite informative and I really enjoyed
    reading it.
     
    Cheers,
    Soleil
     
    On Monday, March 31, 2014 8:02:19 AM UTC-7, Tamara Acosta wrote:
    ...more

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    Barbara Sprenger <bspr...@thesatelliteinc.com> Apr 01 10:30AM -0700  

    Hi Karina,
    Where are you looking? We have a couple of amazing brokers. With both, we
    were satisfied with the deal, and they went even further -- getting us an
    even better deal! LoopNet is the ...more

    Back to top

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Becky H. Smith, Ed.D., Founder

Blue Ocean Innovation Center
1820 W. Lincoln St.
Bozeman, MT 59715

406-551-1262

406-579-2849

bsmi...@gmail.com
in...@blueoceaninnovationcenter.com

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Jerome Chang

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Apr 2, 2014, 1:54:33 PM4/2/14
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My rule of thumb: 3 or 4 x rent. 
If your market rent is $14 + $3 NNN, then $4.26/SF (= 3 x (14+3)/12). 

Your 140sf office seems too cheap. Could be $600/mo. 

Your 325sf conference room could be $1385/mo!

Jerome

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