Everything Coworking

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Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

We are well into Q4 with the end of 2022 right around the corner.

On this episode, we dive into three things you should get done before the end of the year:

1. Make sure you have an automatic rate increase in your (office) membership agreements. 
2. Do a competitive pricing analysis so that you can compare price/seat across different offerings (flex desks, dedicated desks, small offices, large offices) and decide your pricing strategy for 2023.
3. Determine what revenue stream you will focus on in 2023 and work it into your annual planning. Dedicate time and budget to invest in building up your virtual office program or your meeting room revenue.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

Dana Bergrenn on LI

The Coop Coworking

Dana Bergrenn opened her first coworking space, The Coop Cowork, in 2017 - 4,000 square feet of primarily offices with some community space. In December 2021, she closed her agreement for her second space which is just over 20,000 square feet. 

We talk about:

• What her mindset was when she grew her coworking business from 4,000 feet to a total of 24,000 feet.
• How she structured her real estate deal for her first location to include equity in the building
• How the real estate market has shifted in Las Vegas from 2017 to 2022 and how that has impacted her business.
• How she’s learning to delegate now that she requires team members to run her business.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

Coworking spaces have become a popular option for hosting events. These versatile venues can be easily customized to accommodate a wide range of events, from small team meetings to large corporate functions. These spaces offer several advantages over traditional event venues, such as hotel meeting rooms. 

First, Coworking spaces are more flexible and can be customized to meet the specific needs of each event. Second, Coworking spaces are designed to promote collaboration and creativity, making events more productive and enjoyable. Finally, these spaces are typically more affordable than traditional event venues. 

In this episode, we cover how Coworking spaces are an increasingly popular option for businesses of all sizes!

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

One important factor in determining the success of your coworking space is the real estate model you choose. There are three primary models for coworking spaces: lease, buy, and management agreement. Each option has its own pros and cons, so it's important to carefully consider your options before making a decision. 

The lease model is often the simplest and most straight-forward option, but it also comes with the highest risk. If your coworking space doesn't succeed, you could be left with a large rent bill and no tenants. 

The buy model gives you more control over your space and can be a great long-term investment, but it requires a significant amount of upfront capital. 

The management agreement model is somewhere in between, giving you more flexibility than a lease but less control than owning your own property. Ultimately, there is no right or wrong answer when it comes to choosing a real estate model for your coworking business - it all depends on your specific situation and goals.

In this episode, we dive into each model and review the pros and cons.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

The Wing abruptly closed its doors a few weeks ago.

The lack of transition time for its members is one topic.

The other aspect to examine is how a brand now owned by the largest public flexible workspace brand, IWG (parent of Regus, SPACES and others), failed.

If you’ve only followed The Wing on social media and in the press, you might be surprised by their failure. They quickly built a compelling brand and a network of high-end, boutque, bespoke-designed spaces in major markets, and garnered a lot of press for their efforts and focus on girl power.

If you’ve run a coworking business and visited a Wing, you probably saw past the social media stories.

I visited two of their locations—one in Georgetown, Washington, D.C., and one in San Francisco.

I was a card-carrying member of the San Francisco location as of the San Francisco location for about a month. I joined in March 2020.

Our company accelerates the launch and growth of coworking spaces. We help operators decide how big their space should've and what their product mix should be based on their profit goals and access to startup capital. Unless someone joins our Coworking Startup School after they've signed a lease, we would strongly warn against 10,000 square feet of purely open plan seating, open on the weekends, staffed to the max, in high-rent districts.

Could the Wing succeed without COVID dragging down its balance sheet, and in about 2,000 square feet in first and second-tier markets? We think so.

We break down their breakdown on this episode.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

1. The profits from your coworking space are usually highly correlated to the size of your coworking space…until your supply is too large for your market demand.
2. Smaller spaces can be more profitable with diversified revenue streams such as business identity packages, events, f&B offerings (uber eats originator)  and specialized/niche memberships
3. Smaller spaces don’t work for management agreements. If the LL is trying to beat market rent, but has to pay out a management fee in addition to paying the opex….the premium to market rent is not usually high enough to make it work.
4. If you are running a small space and you are getting to your take-home pay goal by being the community manager, make sure that it makes sense for you to be doing that job. 1) I hope you love it if you’re doing it. 2)  The community Manager role is generally a $20-$27/hour job. If you can make more per hour, you should consider doing something else. Example - all of the space owners that run other businesses.
5. It’s hard to create the diversity of workspaces that people want in a small space. The intentional design will matter a lot.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

SUCESS Space Youtube channel

Ted Laatz on LI

Learn more about SUCCESS Space

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about SUCCESS Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

Coworking has long been seen as a solution for the mobile worker, and that demand has only increased in recent years. coworking spaces offer a variety of membership plans that allow users to cowork when it's convenient for them, and businesses have coworking spaces to thank for an increase in productivity and creativity. However, the coworking landscape has shifted in the wake of the Covid-19 pandemic, and it's important for coworking businesses to adapt their models to fit the new market. SUCCESS Space is one such example, and their President Ted Laatz shares why they've gone with a unique approach that he believes will serve their customers well in the post-Covid world

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

Find Amy Toman on:

LinkedIn

Her bio

on Twitter

Amy Toman,  works as a Local SEO Specialist for Digital Law Marketing,  and she has her own business, Pet Sitter SEO (but she specializes in working with all small businesses).

She is also a Google Product Expert for Google Business Profiles. She spends her spare time volunteering to help business owners by answering their questions on the Google Business Profile forum. 

In this conversation, Amy demystifies some of the top questions that coworking space owners have about protecting their Google Business Profiles if they allow their members to use their addresses for their own GBP listings.

Here are some questions that I posed to Amy:

1. Can I let members use THE SAME address as mine for their GMB listing? 
2. Businesses that don’t need a commercial address
3. Is there a risk that our listings get taken down if they are duplicate addresses or does Google understand?
4. What does Google require of the member company (and me) for the listing to be legit? Do they need to spend time in the space? Do they need signage? What if they are virtual members that are not actually ever in the space?
5. How does Google enforce its rules? 
6. What are the consequences for me as an owner if I don't follow Google's rules? What about the member using my address?

What if... 

- What do I do if I have a virtual member that signs up through a third party lead generator and I get a Google Business verification card in the mail from them...they have no signage, they haven't paid

- What if a member uses my address and then discontinues membership but their Google Business address is still active and they're still using my address?

- What if somehow someone using my address gets control of my Google Business listing and it becomes theirs? (I saw this happen to a very established operator)

What else should we know about protecting my Google Business Profile?

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

Taylor on LinkedIn

Taylor’s website - subscribe to his newsletter

Taylor’s offer for a free website audit: www.talemaker.ca/audit

Related Podcast Episodes:

Kevin Whelan’s podcast episode on Google Ads

Reuben Lau on the podcast talking about SEO and SEM

Taylor Mason is a marketing expert for the coworking industry. On this podcast episode, he shares his framework for auditing coworking websites to identify ways to improve them. He begins by explaining why an effective website is so critical for a coworking business. He then dives into his website audit framework, which includes aspects such as design, user experience, content, and SEO. He provides detailed explanations of each of these elements and offers tips on how coworking websites can improve in each area. Finally, he shares some general tips for optimizing coworking websites. This episode is packed with valuable information for anyone who wants to improve their coworking website.

Follow Us on YouTube

Everything Coworking Featured Resources:

The SEO Action Guide

Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space

The Everything Coworking Academy

Community Manager University

Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective

Resources Mentioned in this Podcast:

To be featured in the Noumena community and give your members access to a whole library of entrepreneurial resources and financial education programming, all at no cost to you by the way, visit noumena.pro/coworking to fill out an interest form

Learn more about Success Space, a coworking franchise model with three revenue streams; recurring and on-demand revenue from coworking memberships, a full-service cafe, and Success Certified business coaching.

The Post Workspaces

Dan Wesson on LI

Chelle Peterson on LI

Taylor Mason (Content Marketing)

Libsyn Description/Show Notes:

Dan Wesson and Chelle Peterson are the co-founders The Post Workspaces in northwest Tucson.

The Post just celebrated its 2nd year anniversary. The Post has had a major comback after losing most of it’s pre-sold offices upon opening in March of 2020.

Dan and Chelle went through our Coworking Startup School™, are members of our Flight Group Academy, our Community Manager University and went through our Creative Coworking Partnerships course. You can get more info on these programs here.

When asked what they’d do differently on their next space, they responded “honestly, not much.” Not many first-time operators will say that…but Dan and Chelle were really intentional from the beginning about everything from their business model to their product mix, to their member wall.

In this episode, we talk about:

• How they got into coworking to solve a problem on a first-floor Class A building.
• What their partnership structure looks like with their landlord.
• Who they serve in their suburban Tucson area and how they designed a space with their ideal member in mind.
• How they’ve added suites to their offerings - that act as normal tenants, but have access to the Post (in their 90,000 feet Class A building).
• How they’ve successfully used FaceBook ads to market their  memberships
• Their commitment to content marketing and how that’s served their business
• Their recent Community Manager hire from the hospitality industry and how that’s served their business.
• Why private, part-time offices are generating a significant premium over a typical office