How does one build a profitable coworking space?
Fortunately, there are a number of proven models you can use as a starting point. I’ve also created some tremendously valuable resources to help you get started, so you can save a bunch of time and money and make use of time-honored best practices.
Ready to buy? Purchase the kit here!
The premium Coworking Business Model template makes it crazy easy to get a rough idea of the potential profitability for a given space.
Plugin a handful of numbers to get detailed estimates of both what you can make in income and what your projected expenses will be—all in an easily readable, straightforward format.
This template will let you:
Once you’ve got a model you feel comfortable with, you’ll have a really good idea what you’re getting yourself into.
Then you’ll be in a much better position to decide whether to proceed, or whether further investigation is necessary.
This template will also give you something impressive to show potential investors or landlords—they love to see that you’ve done your homework and come up with a rationale to show the model could work!
Some topics we’ll cover in this package:
Let’s go into these in more detail:
Get a quick primer on how coworking got its start and the implications its roots have on where coworking is going from here.
Depending on what kind of space you want to build (we break it up into roughly Small, Medium, and Large), there are models that have been shown to consistently work well. Get an overview of the different options so you can get a sense of what will work best for you.
The answer, of course, is that it depends—but it most certainly can, if you know the right approaches!
It’s only becoming saturated in one narrow part of the market—when you get the right perspective on where coworking is going, you can see just how much opportunity remains untapped.
I’ll give you a sense of what the potential market size is.
While this will vary widely, you can use our handy charts (and the Business Model Template) to come up with some informed estimates.
Coworking space software is a big question mark that has to be addressed with the right approach, lest it take up way too much of your time.
Before you make the jump into picking a platform, make sure you know what you’re getting yourself into—there are some tradeoffs you just won’t be able to avoid.
I offer a brief examination of the platforms, so you can get a vibe for what to investigate further.
Before you commit to building a space, it helps to understand how you’ll go about getting members. I’ll share with you my proven approach.
Too many coworking spaces make a critical mistake when it comes to building a space. Avoid that and you’ll save yourself massive headaches!
To save you time and get you on the right track, I’ll share with you a step-by-step method for getting people on board with your project before it’s even launched.
Based on my own experience, which I’ve taught to hundreds of other space owners, this is a surefire way to ensure you will have all the help you need!
See what the actual template is like in action with my detailed walkthrough here:
The template file package includes the following:
👥 Membership projections
Easily see how many members you’ll have and what they’ll pay
🏢 Office rental projections
Estimate your income from renting offices of various sizes
🎉 Event rental projections
Determine potential income for different kinds of events programs
📈 Sponsorship projections
Get a sense of possible income from sponsors
A detailed breakdown of expenses, based on our real experience running a space
🔢 Capacity calculator
Easily estimate how many seats and offices you can fit into a space of a given size
💰 Member pre-payments
Plan for pre-paid memberships to help with buildout costs
📊 5- and 10-year forecasts
Show your projected income and expenses for the long term
🏗 Capital costs estimator
Gauge potential costs for outfitting a space
📋 Sponsorship templates
If you want to get sponsors to support your new space and its programs, use templates based on documents we’ve used to get sponsorships from Google, HP, Pearson, .CO and more
All this and more!
Hi there! I’m Tony Bacigalupo. I’ve been in the coworking world since 2007, when I discovered a coworking group working out of a loft apartment in Manhattan.
Back then, Manhattan didn’t have any coworking spaces, so I resolved to lead the charge to get the first one open.
That space, New Work City, opened for business in 2008. I used my own personal savings and the support of an amazing community that came together to get it started.
As Manhattan’s first dedicated space, we achieved a lot of notoriety over the years. Along the way, I became active in the global coworking movement, teaching thousands of others how to build similar spaces everywhere.
Now, I’m making the resources I’ve developed along the way available to you, so you can save time and avoid common mistakes.
I want you to build a thriving space, so you can help lots of people in your city work for themselves.
If you purchase this product or any of my other services, you wont just get a bunch of files—you’ll get my dedication to helping you succeed.
After your purchase, get in touch with me if you have any questions and I’ll do my best to point you in the right direction.