Membership turnover in the first months

[Craig Baute - Creative Density Coworking]

Creative Density has been open for 3 months now in Denver and I was
curious how our membership turnover rates compares to other new spaces
and how the turnover changes in the future.

In the last three months (since June 1st) we've had 18 members join
but we've had eight members leave. Granted two of the members moved to
Boston and that was out of our control. The other members that left
for other reasons - a 30/45 minute commute was too long and will look
for a coworking space nearby, moved to another part of town, college
started, etc. These can all be reasons to leave as people try out
coworking for the first time or change their lifestyle. It could also
can be my fault as the owner of Creative Density and the culture/space
created may not fit them.

The people that do join really enjoy it and we all get along. I do
expect the turnover to decrease as people have a better understanding
of coworking and there is a stronger community and relationships are
developed as membership grows.

What was your space turnover at the beginning?
Did turnover change after you were open for 6/12 months?
Did the summer influence turnover?

Thanks for your help.

Craig
densitycoworking.com
@CreativeDensity

[Craig Baute - Creative Density Coworking]

It should also be noted that some members upgraded their plans after
trying it out for a month or two.

[Angel Kwiatkowski]

Holla!
I wish I'd kept better track but we've probably seen 20-30% of people
come and go for lots of reasons. Maybe 5 total people left because
coworking was just not a fit for their style, 3 people left because
Cohere wasn't a fit with their personality. Recently, we lost 3 of our
founding women due to relocation to different cities (sobs) and lost
another 2 women to Florida. Very occasionally we lose a member b/c
they can't afford it but that's rare and we have a $25/mo plan that
can get them by in a pinch. I used to get sad about turnover but now I
kind of enjoy it because it opens up slots for new-to-be-friends to
join and creates different ways for people to collaborate and work
together.

I typically don't lose members over the summer but the existing ones
are basically non-existent until the weather turns colder. I also
don't sign up as many people in the summer. January and September are
the largest sign-up months for us. I'm not sure on opening turnover
vs. later on turnover.

Angel

On Aug 24, 10:29 am, Craig Baute - Creative Density Coworking

[Craig Baute - Creative Density Coworking]

Thanks Angel.

We hit the ground running in June and signed up 11 people quickly.
Boom. Smiles! The first few weeks of July kept the good times rolling
and then half through July... (cricket cricket). It's good to hear
that this is normal, at least in Colorful Colorado. Things are
starting to thaw as a new member just signed up last week and more
people are passing through.

Craig

[Joseph]

Your experience happened to us. For over a year! End of day, it's your
breakeven and profits that's making you happy. No amount of
advertising works if your community doesn't view coworking as a
benefitting working lifestyle, IMO.

On Aug 25, 5:19 am, Craig Baute - Creative Density Coworking

[gerard sychay]

Craig,

Here's some more data for you: in our 1st year, 15 people have signed up. Of those 15, 4 have left. Of the 4 that left, 3 left due to changes in their work situations. Only 1 said the situation wasn't for him. Put another way, only 1 left for reasons that were under our control to me. 3 of the 4 that left, left in the 1st 6 months, which was surprising to me. But perhaps, as you mentioned, that could be explained by more people having a better understanding of what we're about as time goes on.

Lastly, the 4/15 number coincides with Angle's 20%-30% number. FWIW.

Thanks,
Gerard
http://cincycoworks.com

[Craig Baute - Creative Density Coworking]

Thanks Gerad.

The community aspect is pretty strong here. Members are holding events
and having lunch together and most of them seem to check-in with each
other and be able to talk more than work to each other. All very good
things and show they understanding the benefit of coworking. I think
the reason for my turnover in the first two months was because I was
one of the first coworking spaces to open in Denver in the last 3
years and attracted people from smaller towns or suburbs about 30 to
45 minutes away. These individuals have been most of turnover because
the traffic was just too big of an issue, but I appreciate their
willingness to try coworking. Two members still drive 45 minutes to
cowork with us.

I'll keep stats on this issue because it should be interesting to
identify a trend and help future coworking spaces prepare. My
assumptions is that new coworking spaces might have a higher turnover
at first because everyone is new to the concept and are trying it out.
The coworking spaces are also new and trying to find their stride in
creating a culture and better their outreach to the community.

Craig

[Alex Hillman]

My assumptions is that new coworking spaces might have a higher turnover at first because everyone is new to the concept and are trying it out. The coworking spaces are also new and trying to find their stride in creating a culture and better their outreach to the community.

I think this is a good assumption. Related, is also a common ripple effect of any press we've ever had - most often than not, people who come in immediately after press are attracted to "new hotness" compared to people who find out via word of mouth. I usually take that into capacity planning when we have any new waves of membership related to press.

I wish we'd kept better membership records in our first 2 years. Can't say I thought that info would be so valuable to so many people at the time :)

-Alex

/ah
indyhall.org
coworking in philadelphia

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