Congratulations and happy birthday!
> 1. How old was your space before you increased your prices? > Three years. > 2. Do you grandfather current members? Permanently? For a time period? > I grandfathered folks who had already been there a year and who either would 1) pay a year in advance for the lower price or 2) had gone a year never being late with the rent. > 3. How much notice do you give prior to the increase? > Three months > 4. What do you want me to know that I'm not asking? > About half my coworkers reacted by saying, "you should have done it sooner". Make sure you raise the rent enough that you wil not have to do it again in the short term. Nickel and diming people is not a good business strategy. > 5. I also have private offices I (month-by-month...no leases). If your > answers above are different for this situation, please share your expertise. > It really depends: we raised the rent for our basic membership, because it was breaking even but not making money. I told the coworkers that and explained that this means having them in the space is a hobby and not a business, which is not sustainable. The other memberships were making money so I left them alone. > > Thank you so much! The increase is needed to help close the income to > expense gap, but I have a concern about continuing to grow the base with a > new price structure. > > You cannot grow your business with the existing price structure if there > is an income to expense gap. This is the reality and your coworkers should > know this. A profitable coworking space is free to make choices and that is > important for them also. > -- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
