Coworking business concept

[Loopdilou]

Loan me 515k? I'm good for it! Ok, so it would probably never happen, but I really love the business concept of a company called NextSpace (nextspace.us - feel free to steal.. haha!). I think a business like this, on a smaller scale, could work brilliantly in my small town as an innovation and small business incubator. I think it could work great in a lot of towns. There's an amazing building in my downtown.. I have tertiary connections to the CEO of NextSpace and I have.. a little money to invest.

I wish I had the time and the drive and I know I'm going to kick myself if someone else does it. Then again, maybe I'm crazy

Would you like to see a NextSpace style business in your city? Is coworking the wave of the future? Or is it a kookie California thing?

Eta: The request for 515k is tongue in cheek

[Deleted]

There is a small business assistance center at one of the nearby universities that offers this kind of service.
My sister belongs to one for counselors/psychologists.
I have heard of commercial kitchens set up like this, because of the regs and getting started as a small provider. I actually think Penn State was researching starting one.

My concern would be that lots of nonprofits and professional organizations probably already run things like this.
I am not sure why it would take a 515k franchise to accomplish it locally ?

[Loopdilou]

Oh, that's so I can buy a building

Honestly though, I haven't heard of anything with this type of model before.. shared kitchens, yes.. otherwise, there is definitely nothing this comprehensive in our area.

[Deleted]

Oh, that makes sense.

[Deleted]

Yes, it's called the country club. Joining fee is hideous, but all the movers & shakers join to use it like a business community. I think this is a marketing slant on a similar concept, jazzed up for the younger crowd.

I hear this guy named Dark is a soft touch for a loan & has money to burn. I'd hit him up for the loan ;D

Maybe you can do it for a little less capital outlay if you expand your closet office!

[Loopdilou]

Country clubs don't *quite* fill the same niche, but I see what you're saying

[Wisconsin Beth]

Yeah, I've heard of it. I saw an article on it fairly recently (last 6 months?) but I'm not sure if it was my local paper or the Washington Post.

It's community space so the folks used to doing work in a coffee shop/lab/large room environment will still have some of that atmosphere. And they can refer clients to each other.

[Deleted]

Incubator. That's the word, couldn't think of it last night. What you are looking at might have different ongoing/atomosphere benefits than a traditional incubator, but seems to be the model.

[Loopdilou]

What *does* a traditional incubator do?

[Deleted]

Most common incubator services:[4]
Help with business basics
Networking activities
Marketing assistance
High-speed Internet access
Help with accounting/financial management
Access to bank loans, loan funds and guarantee programs
Help with presentation skills
Links to higher education resources
Links to strategic partners
Access to angel investors or venture capital
Comprehensive business training programs
Advisory boards and mentors
Management team identification
Help with business etiquette
Technology commercialization assistance
Help with regulatory compliance
Intellectual property management

The ones i know of provide office space, conference room space, access to things like fax, sometimes group marketing (in my sister's case)... sometimes secretarial support...

Here is the National Business Incubator Association www.nbia.org/

[Deleted]

I think your source sounds more 'hip', and possibly more long term. People tend to think of incubators for start ups (although not all...) Whereas I think the one you linked might build a community that stayed small and operated past the initial start up phase? not sure...

[Loopdilou]

Ah ha. A much more focused purpose.. people come in specifically with an eye toward venture capital and expansion.

NextSpace seems like a more organic cousin.. they provide the address, the facilities and the coffee and get home based business people out of their pjs. If collaboration occurs, then all the better!

If not, you stll get an inexpensive office space with amenities.

[Deleted]

Is this like regus?

[Deleted]

I don't think all incubators have collaboration. I do think most try to offer resources and access to resources to assist in growth and development.

If what you really want is just a game store atmosphere for entrepreneurs, where people who are self employed 'hang out', then you have the same risks as outlined in that situation.
An artist co/op might be more appropriate? A loft type space, and gallery space, where the more artistic types can rent studio space, keep their supplies, and have a shop and gallery, maybe even small theater space, where they promote their own work and artists? ... might provide more of the vibe you are after? Maybe i'm misreading.

[Deleted]

Ok. I guess what i just described was MORE collaboration, not less.

So you are saying more like renting out office space with shared business lab access ?

[Loopdilou]

Sept 25, 2012 9:41:11 GMT -5 ArchietheDragon said:

Is this like regus?

Looks like it's very similar! NextSpace appears to have more casual options.

[Loopdilou]

Sept 25, 2012 9:47:29 GMT -5 oped said:

Ok. I guess what i just described was MORE collaboration, not less.

So you are saying more like renting out office space with shared business lab access ?

Bingo. But they have multiple levels of office space.. it's in the link

[Regis]

Sept 25, 2012 9:41:11 GMT -5 ArchietheDragon said:

Is this like regus?

It's nothing like me at all. ;D

[Deleted]

I don't see them as much different. They have their own 'education lab'... they just call things "Events, brown bag lunches, and happy hours" ... ie. more hip...

Not all people in incubators use all the services, and most of what is offered is ACCESS to resources. I mean, the incubator doesn't give the loans, just helps you find sources and prep your pitch, etc. ... the same things Nextspace does with" A community of smart, creative, interesting people who help each other make their businesses successful"

The point is, if you are just renting out office space with a shared business lab of fax machines, etc. Then you are basically just the rental agent. The whole point of a place like that is access collaboration, education, access to growth protential... those things have to be orchestrated to some degree. I don't think it is ever completley organic.

[Sum Dum Gai]

I hear this guy named Dark is a soft touch for a loan & has money to burn. I'd hit him up for the loan ;D

Yeah, but where would she get the other 514k?

[Sum Dum Gai]

So, I followed your link. All I have to say is, work my ass!



I'll bet you half of those guys are playing online poker. Of course at $150-200 a month just for access to your cafe area that's probably not a bad business model.

11 people in the photo. Assuming they all signed 12 month agreements to get the lowest price, that's still $1,650 a month in "rent" you're collecting on the cafe space. If they're all month to month you're looking at $2,200 a month in rent just in that photo. Throw in a couple workstation/office rentals, and the payment on your $515k note should be no big deal.

[Loopdilou]

Sept 25, 2012 9:45:59 GMT -5 oped said:

An artist co/op might be more appropriate? A loft type space, and gallery space, where the more artistic types can rent studio space, keep their supplies, and have a shop and gallery, maybe even small theater space, where they promote their own work and artists? ... might provide more of the vibe you are after? Maybe i'm misreading.

This would be my other dream business.. with the addition of classroom space for kid and adult classes.