CONFIDENTLY
CREATE A PROFITABLE COWORKING SPACE
that you love to run
Avoid expensive mistakes, tech overwhelm, and "I don't know what I don't know" syndrome.
ENROLL NOW
If you’re a successful professional ready to start your own business in an industry that is growing like crazy and happens to be both profitable AND purpose-driven, then you're ready to create your own coworking space.
HERE'S WHAT YOU
MIGHT NOT KNOW
You're already excited about creating your own coworking business - to serve your own lifestyle/financial goals as well as to create a compelling place to work for your community. Starting your business now can mean:
Creating a business that can scale
A coworking business can be designed as one location to support lifestyle goals, or scaled to multiple locations if your goal is to build a brand and a regional presence.
Getting in early on an industry with explosive growth
You are not late to the game. We're only in the 2nd inning! Shared workspace is 1-2% of any commercial real estate market. Experts predict it might be 30% in the next 10 years. This is the exact right time to get started.
Creating a work environment that changes lives
Your primary goal might be financial, but this is a special business - you literally change lives by giving freelancers, small businesses and even remote, corporate employees a place to connect and do their best work.
A leadership role for you in your community
The nature of this business is connecting people. As the owner of a coworking space that houses successful local businesses and startups, you become a hub of community activity and progress. Create more impact and enjoy growing your own professional network.
Gives you an outlet for related passions and skills
Love design? Or digital marketing? Investing in real estate? Mentoring startups? You can shape your role in your coworking business to focus on what you love to do.
Even though the reasons to start your own coworking space are obvious, the path to doing it successfully is anything BUT.
I'm Ready to Start!
But how do I know if I'll get this right?
Perhaps you've trumped your fears of giving this a shot and have committed to just do it.
You're probably not starting from scratch - you may have a name, a URL reserved, you've researched other coworking spaces and thought through what you would do differently. You have a pretty clear vision in your head of what you want to create.
But in this process of getting started, you've gotten a glimpse of all of the decisions that need to be made - all of the variations in this business - and you're struggling to determine what's really working and how to future-proof your business plan.
ENROLL NOW
Here's where would-be successful operators get sidelined:
Without a super clear, step-by-step project plan, it's easy to get lost or to piece together advice that doesn't create the business that fits your personal goals.
Here's why this can be crippling.
Starting a coworking space is a big investment and it's a long-term commitment. You're signing a 5-10 year lease or buying a building.
It's not the end of the world to change your mind about your tech stack after you open, but there are things like product mix and space design that are really hard to fix after the fact.
And those mistakes can have a lasting impact on your bottom line.
You need to get this right out of the gate...like knowing who you are serving and what you are selling them. While possible, it's disruptive, expensive and time-consuming to fix your product mix after your build-out.
There are a lot of operators out there making mistakes. Which is good news for you! There is a big opportunity to get your model right and be the choice workspace for the customer that you are dedicated to serving.
The 5 Reasons Why Most Coworking Spaces Fail
Reason #1
Not doing the work to really nail who you are serving
You are not serving everyone in your neighborhood with a laptop. Even if you are in a smaller market, you will not win by trying to attract everyone in town that has a choice about where they work....
Who is your ideal member and how will you design your business around how to best serve them? The answer to this question is the foundation of a coworking space that sells memberships at a pace that drives profitability and creates a strong membership and community.
I get it. It's not the sexy part of planning out your new coworking space. You'd rather jump into designing the podcast studio. But I assure you, this is the critical foundation that drives good business decisions.
This step isn't hard to do with the right framework - and most of your competition will skip right over this and take the "aim, ready, fire" approach giving you the opportunity to stand out.
Reason #2
Your Product Mix Doesn't Align with Market Demand
One of the biggest challenges for soon-to-be coworking space operators is picking a product mix. This will drive the space layout, the buildout costs and ultimately, your ability to SELL....
Start with your ideal member clear in your mind, and use our space-planning framework to help you match your offerings to your members' needs.
We'll also tell you what's working for other successful operators.
Reason #3
Not Combining the Right Ingredients to Create a Healthy Financial Model
Creating a profitable coworking space requires a careful balance of inputs to create a recipe for a successful financial model....
You need the right product mix, pricing, rent rate, lease term, buildout budget, startup costs and marketing know-how to make this work.
No one component is rocket science, but you want to know how to put it all together and what questions to ask to stress-test the model to set your business up to shorten your road to profitability.
Reason #4
Not Having and Following a Marketing Plan that Works for Coworking
This is not an "if you build it, they will come" business. To attract and close members, you must execute a few core marketing strategies to create a healthy sales funnel....
You can learn the key levers to pull to market a coworking space. Stay focused, consistent, test and iterate and you'll find a repeatable marketing mix that works for your business.
Reason #5
Tech Overwhelm
OK, you won't fail because of this one but you might spend a LOT more time than you should researching and over-analyzing these decisions. There is a lot of tech and process involved in setting up a coworking space in a way that provides a good experience for you, your team and your members....
Here's a little inside scoop...
Even though coworking is a quickly growing industry that will soon be absolutely core commercial real estate, not everyone will ride this wave and succeed.
Some operators will enjoy this rising tide but others will sink.
And the main reason for this, is that the barriers to starting a space are relatively low, but the requirement to get the model right and execute well in order to be sustainable is really high.
So as long as you can avoid the biggest mistakes that sideline many space operators, you can design a profitable coworking space that you love to run (or pay someone else to run!).
That's what I'd love to show you how to create.
Introducing The
The Coworking Space Business Validation System and Implementation Guide to help you create a profitable coworking space that you love to run!
Enroll NowJodie Gallant
WORK Lakes Region Laconia NH
"The program was a game-changer. It equipped me with the knowledge and resources needed to make informed decisions that have been pivotal to our success. The 'AHA' moment for me was realizing how crucial the right location is and how a proforma can map out expected outcomes, providing clarity and direction. Thanks to the program, Vision & Heels is not just a dream but a successful coworking space. For anyone looking to break into the coworking industry, this program is a comprehensive guide that covers all you need to know to succeed."
"Yes and more. As experienced C-Suite Executives, we had a vision for our space but knew that having" Been there/done that" resources from the Coworking Startup School accelerated our success. We opened at the beginning of Covid and know that if we hadn't gone through the Startup School, our path would have been even more challenging. The up to date information as well as the networking between coworking operators throughout the world was extremely helpful."
“The mentoring given by Jamie is second to none. She provides a roadmap of how to get from point A to B and takes all of the guesswork out of the equation. “
"We go up and running and profitable in 5 months. we attribute this to the coaching and direction of the school, Jamie, and the podcast"
”If you'd like to own a membership-based workspace of any kind, Coworking Startup School is a must! It's one of those investments that ends up saving you money in the long run.”
“The program exceeded my expectations, teaching me not just what to do, but also what pitfalls to avoid. A standout moment was realizing the importance of tailoring services to meet the needs of my target market, a strategy refined through potential member interviews. Thanks to the program, our space has seen significant wins in income and leads by being listed on key referral platforms. I wholeheartedly recommend Coworking Startup School™ to anyone looking to ensure their coworking space's success. It's a crucial step that saves time and avoids costly mistakes, offering a blend of group learning and the opportunity for deeper dives into strategy. This experience has been invaluable in making my coworking space a thriving community hub."
These brands started with the Coworking Startup School™
Hi, I'm Jamie Russo
I founded two coworking spaces - one in Chicago, and one in Palo Alto, California. I was the President of the League of Extraordinary Coworking Spaces, Executive Director of the Global Workspace Association and I host the Everything Coworking Podcast and co-host the Flex Uncensored podcast.
Through this unique combination of roles, I have a deep, first-hand experience in coworking and unparalleled access to industry knowledge, best practices, experience, and leadership.
Through my Coworking Startup School™ and Everything Coworking Club membership, our team has helped hundreds of people just like you realize their dream of launching a successful coworking space.
I created the Coworking Startup School™ because I was in your shoes and I made ALL the expensive mistakes. But I got to the other side...and I want to save you from some of that pain. My superpower is breaking the complex into manageable chunks, I have a strong operations orientation and I am also a spreadsheet boss (I have an MBA from the University of Chicago). Our industry is exploding and if you want to be a part of it, I want you to have the tools and support you need to be successful.
Go from Visioning to Opening Day with Confidence.
Join Everything Coworking Club
at any point along the way for group coaching, anytime Facebook Group support and training to help you optimize your business once you’re open.
Start with the
Coworking Startup School™ Course
and When You’re Ready, Add On
The Everything Coworking Club
Here's what you get in the course and in the monthly membership:
RIGHT NOW You Can Unlock An ENTIRE MONTH FREE Inside the Everything Coworking Club When You Join the Coworking Startup School™!
YOU GET A FREE MONTH WHEN YOU JOIN
The Coworking Startup School™ is
The ONLY program of its kind that…
- Will make sure you are so clear on your ideal customer avatar that your space will magnetize members.
- Design a product mix that aligns with market demand and your startup budget.
- Combine the right ingredients to create a healthy financial model.
- Get you set up with the marketing fundamentals that you need to create a productive sales funnel.
- Help you stay out of tech overwhelm and choose just what you need to optimize your operations and member experience.
Here's How We'll Help You Get Here:
Step 1
Create your Ideal Customer Avatar
The success of your business depends on designing a solution to meet a customer's needs. To do that, you must know your best customers intimately, document their needs, and base every business decision on those needs.
In this step, we will create an ideal customer profile to help you select your location, product mix, design, branding, and more.
This step will set you up to successfully attract members and sell memberships.
Highlights of This Step:
- Use the Ideal Customer Avatar worksheet to flush out your ideal member.
- Create an Ideal Community Avatar (ICA) profile to share with your team of qualified professionals.
- Learn how the ICA impacts all other business decisions and commit to your ICA as a critical reference point for all upcoming decisions.
Step 2
Choose the Space Size that Aligns With Your Goals
In this step, will select the size of space that will align with your goals. Explore sample floor plans and use our Select a Size™ Framework.
Your space size will drive your revenue potential and your revenue potential must align with your financial goals for your coworking business.
Highlights of This Step:
- Learn the factors that will determine the ideal size for your first space.
- Use our Select a Size™ Framework to select your target size for your first space.
Step 3
STEP 3 - Create Your Menu of Products, Services & Pricing
Your product mix will serve your ideal customer. Your ideal customer will buy memberships and create revenue (and the better you serve him, the faster you'll create revenue!).
Highlights of This Step:
- Set your monthly profit goals for your coworking business.
- Draft your dream Coworking Space product mix to align with your profit goals using our Space Builder Worksheet.
- Validate your product mix assumptions with your ICA using our Interview Guide.
- Expand your competitive analysis by conducting a local space tour and asking questions that prompt them to reveal product mix insights that can help you leverage their success and avoid their mistakes.
Step 4
Draft Your Pro Forma
This iterative phase will solidify your target space size and drive your decisions on location, buildout budget, and lease term.
Highlights of This Step:
- Draft your pro forma using our plug and play template to synthesize your profit goals and startup budget. Here you will get a realistic picture of the potential of your coworking business.
- Work through our "What If" worksheet to problem-solve the inputs that you need to get more aligned to create your ideal model.
- Document and share your model assumptions with your team members to create alignment and avoid surprises throughout the process.
- Get really intimate with the coworking space business model, and understand the most critical sensitivities, where the biggest successes and the biggest mistakes are made.
Step 5
Assemble Your Professional Team
Stack your chances of successfully serving your ideal customer by assembling a team of experts to help you realize your vision and avoid costly mistakes.
Highlights of This Step:
- Set your budget (with our guidance) for your support team - attorneys, designers, architects, general contractors, real estate brokers, contract furniture dealer, and website design/build.
- Learn the contribution of each role and how to leverage them to create a space that will proudly serve your members for years.
- Use our Coworking Team member checklists and resource guide to quickly identify candidates and evaluate their fit for your project.
- Customize a kick-off meeting outline for each team member to clearly set expectations and waste no time getting to exactly what you need them to do to support your success.
Step 6
Find the Space that Meets Your Goals and Set Up Your Real Estate Deal for Success
This is the time to stay true to the work that you've done to date and avoid getting impatient or emotional when choosing the location for your business for the next ten years. We're here to help you stay strong and focused.
Highlights of This Step:
- Use our Space Search Checklist to evaluate and take notes on the spaces you see with your qualified broker.
- Update your Draft Pro-Forma to test the impact of rent rates and space size as you see qualified candidates for your space.
- Create an irresistible layout and design aesthetic that will magnetize your ICA.
- Get a test fit developed on your most qualified locations that incorporate design and layout best practices.
- Get buildout costs on your most qualified space options to do the due diligence that will give you the confidence you need to sign a long-term lease.
- Revisit and update your Draft Pro-Forma to ensure that your model and financial goals are still aligned.
Step 7
Furnish the Workspace that will Capture your ICA at "Hello."
So many components go into the success of a coworking space. The location, the community you attract, the product mix you offer, and of course, the design and furniture. We are all visual creatures and like to judge a book by its cover!
Highlights of this Step:
- Select the furnishings that will wow your ICA in both function and aesthetics.
- Design the IT experience that will make your ICA wonder why they were working from home or Starbucks all this time.
- Overlay finish selections and brand colors that make the space uniquely yours.
- Update your Draft Pro-Forma with inputs from this module to ensure you stay on track with your financial goals!
- Get a test fit developed on your most qualified locations that incorporate design and layout best practices.
- Get buildout costs on your most qualified space options to do the due diligence that will give you the confidence you need to sign a long-term lease.
- Revisit and update your Draft Pro-Forma to ensure that your model and financial goals are still aligned.
Step 8
Choose Your Coworking Tech Stack
Now that your space is coming together and you are preparing for launch, it's time to develop the tech stack to create a streamlined workflow for your staff and your members.
Here, we'll guide you through selecting technology that supports your workflows from marketing to on-boarding to paying the bills.
Highlights of This Step:
- Determine your operational workflows.
- Get detailed sample budgets and sample equipment lists for your networking infrastructure including door access and security.
- Select your space management software.
- Choose a CRM that fits your business needs.
- Select your marketing tech stack that will drive your website, social media and member engagement.
Step 9
Set Up Your Sales Funnel
You built it! Now let's get them to join!
Highlights of This Step:
- Develop a simple, yet high-performing sales-funnel to deliver your ICA to your door.
- Get our Pre-Sales Playbook to take the guesswork out of the pre-sales process
- Setup and launch your marketing tech painlessly and fearlessly using our step-by-step guides.
Step 10
Set up for Pre-Selling Success
Cash is king and to get the cashflow kicked off, you need recurring revenue as soon as possible. Having a pre-sales campaign in place is critical. That's why we developed our step-by step Coworking Pre-Sales Playbook. It includes the blueprint and templates you need to run your pre-sales process with ease.
Highlights of This Step:
- What to expect from your pre-sale period
- Pre-selling timeline
- Pre-Launch Sales Activities
- Founding Member Offer Ideas
- Pre-Sales Email Template
- How to Host Hard-hat Tours
- How to Set Up a Landing Page to Capture Emails
- SampleLandingPageTemplate
- Sample Social Media Pre-Launch Campaigns
Step 11
Hire the Team that will Deliver the Member Experience that you've Designed
Now that you're getting closer to opening your doors, it's time to get your on-site team in place.
Whether you're going to hire a team to support the space or you will be "the team," planning ahead to determine roles and responsibilities, training processes, staffing ratios and salaries and bonus structures will set you up for success.
Module Highlights:
- Design the roles that will support your ideal member and the "back-end" of your business.
- Create job descriptions leveraging our library of samples from top industry operators and industry salary data.
- Systematize your training approach to minimize the trauma of staff turnover.
- Setup your on-going leadership systems to create a healthy team environment that drives the results your business requires.
- Ensure that your payroll system and employee classification are set up to avoid confrontation with the government.
Step 12
Celebrate and Prep for Opening!
Now it's time to finalize all the details and prep for our launch party!
Highlights of This Step:
- Let's get your plans in place for list-building, local networking, and launch parties.
- Use our Coworking Playbook: Launching with Confidence and Flair to plan and host your grand opening party and ribbon cutting.
The Coworking Startup School™ Value Guarantee
The Coworking Startup School is the most proven, comprehensive, step-by-step implementation program for anyone ready to start a coworking space.
Upon purchase, you will receive access to our twelve-step framework to guide you step-by-step through identifying your target member, building your team of qualified professionals, and validating your location.
If within 30 days of purchase, you don't feel confident in your plan, simply reach out, show us that you've done the work in the first three steps of the framework and we'll refund your investment. Just email [email protected] with the details.
Coworking Startup School™ Essentials
$697
Binge-watch or go at our own, leisurely pace
Save hundreds of hours of time and money using our done-for-you templates
Enroll Now
$697
Binge-watch or go at our own, leisurely pace
Save hundreds of hours of time and money using our done-for-you templates
Coworking Startup Schoool™ VIP
$1047
Everything from "Essentials"
PLUS
(2) 1:1 Coaching Calls @ 40% Discount
Enroll Now
$1047
Everything from "Essentials"
PLUS
(2) 1:1 Coaching Calls @ 40% Discount
* PLUS *
I'm including these BONUSES to help you get the results you’re looking for, faster:
A free month inside our Monthly Coworking Coaching Membership: The Everything Coworking Club
All training accessible via Private Podcast
which will show up just like all of your other podcasts on your favorite podcast player
How to Buy a Building:
4 Coworking Space Owners share how they bought a building and started a coworking space in it
Ready To Unlock Your Instant-Access To This Proven Framework For A Profitable Coworking Business?
Enroll NOW To Get Instant Access To:
1. The Full 12-Step Coworking Startup School™ Framework ($697 Value)
2. The Member Resource Library Complete With a plug-and-play pro forma model, Membership Agreement, Event Agreement, Launch Blueprint/Project Plan, Detailed IT lists and Budgets, Community Manager Job Description Template (and swipe files), sales process email templates and more ($4500+ Value)
3. A MONTH Of Unlimited Access To Everything Coworking Academy + our Vault Of Trainings ($97 Value)
4. The How to Buy a Building Webinar Brought To You By Experts In the Field ($97 Value)
Total Value = OVER $5,500!
Here’s a list of what’s included in the template bundle
(worth the investment in the course on its own!!)
PLUG AND PLAY PRO FORMA MODEL
($2500 VALUE)
MEMBERSHIP AGREEMENT TEMPLATE
($750 VALUE)
EVENT AGREEMENT TEMPLATE
($750 VALUE)
LAUNCH BLUEPRINT AND CHECKLIST
($197 VALUE)
DETAILED IT BUDGETS BY SPACE SIZE
($97 VALUE)
COMMUNITY MANAGER JOB DESCRIPTION TEMPLATE (EDITABLE)
($97 VALUE)
PRE-SALE EMAIL TEMPLATE
($97 VALUE)
SALES PROCESS EMAIL TEMPLATE
($97 VALUE)
Coworking Startup Essentials
$697
Binge-watch or go at our own, leisurely pace
Save hundreds of hours of time and money using our done-for-you templates
Enroll Now
$697
Binge-watch or go at our own, leisurely pace
Save hundreds of hours of time and money using our done-for-you templates
Coworking Startup VIP
$1047
Everything from "Essentials"
PLUS
(2) 1:1 Coaching Calls @ 40% Discount
Enroll Now
$1047
Everything from "Essentials"
PLUS
(2) 1:1 Coaching Calls @ 40% Discount
Frequently Asked Questions
What people asked before signing up for the Coworking Startup School