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Financial model

(3 posts)

  1. Marc
    Marc Harrison

    I have embedded a spreadsheet on the "membership & business model" tab which outlines some early thoughts on a financial for the workspace. It needs a lot of work, but the financial model is the core of the business case that we'll need to go ahead with this idea.

    If you have any thoughts on any point - from the categories of member and rates through to the monthly expenses of running the workspace or the cost of furnishing the place, add your thoughts here. As more input is provided, through this forum and through friends outside of here, I hope to have something that will allow us to start making some decisions about how to proceed with a good understanding of the costs involved and the potential return for investors.

    Marc.

    Posted 1 year ago #

  2. NC
    Member

    Hi Marc,

    Great work on the initial model.

    Here are my initial thoughts...

    - I think ongoing management of the facility will be a significant task and perhaps might require a greater cash expense than has been allowed for. All manner of tasks will require attention (management of bookings, equipment maintenance and repair, management of third parties such as contract cleaners etc etc). Some of these tasks might be able to be distributed across tenants to reduce cost but ultimate responsbility for ensuring that the facility is up to speed each day must rest with someone.

    - I think the costs for initial assets look accurate.

    I'll keep perusing the model and provide further feedback as I have it.

    Nick.

    Posted 1 year ago #

  3. Marc
    Marc Harrison

    Hey Nick,

    I agree. An idea I have been playing with is looking for members that might want to run their business from this space part time, and in exchange for a free desk spend a couple of hours each day looking after that sort of administrative stuff for us.

    Another similar issue is making sure that the place is open each morning for the casuals and locked at night, and if no permanents are in early that may not happen. I was thinking again that we can find people that would like a free or subsidised desk in exchange for agreeing to be there to open or lock up at a certain time.

    Sure, this costs us money in terms of lost revenue if we are at full capacity, but it probably makes more sense than paying $50k for someone to do it full time unless I'm drastically underestimating how much time will be needed for stuff like that. I can get in touch with owners of other spaces and see what they've found.

    Marc.

    Posted 1 year ago #

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