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eedback from
m Cowo
orking SSurveyy
Conducted via ssurvey monke
ey Sept‐Oct 22010 N = 166 responses
1) Avverage lengtth of operatiion as coworrking facilityy: 17 monthss (low 1 month – high 5 years)
2) Cu
urrent Financial Position
n of Cowork Facility:
Struggling Marginnally Profitablee
Fin
nancially Stron
ng No Ressponse
31%
37%
13
3%
19%
3) Avverage Size o
of Coworking Facility: 3,118 Square Feet
Note: A
Average size o
of profitable // financially sttrong spaces:: 3348 squaree feet
Average size of space financially struggling: 2028 squ are feet
4) Avverage cost of Coworkin
ng Facility pe
er Square Foot: $10.8 ‐
no signifiicant differe
ence in cost b
between pro
ofitable / strruggling
5) Avverage montthly membership cost to
o Cowork: $2
275
Note: Average mon ble / financiallly strong: $2226
nthly membership profitab
A
Average mon
nthly memberrship financially struggling : $384
6) Avverage invesstment in remodeling co
osts: $10,548
8
7) Avverage Invesstment in Fu
urniture / Fixxtures / etc.: $6,000
8) Only 12% of respondents utilized anyy public supp
port / financiing
9) Avverage Emplloyment to o
operate spacce : .75 FTE
Concclusions: In n
no way is this study stattistically sign
nificant with such a smalll N, but it do
oes point to a few
interrested correlations: succcess is somewhat depen ndent on findding an afforrdable membership pricce and, a
spacce should be large enouggh to accommodate the number of m members neecessary to ccover expenses. In ourr
research we havve looked at utilizing CDB BG funding, which most cities offer,, to help offsset both starrtup costs ass
well as ongoing support in th he early stagges as we en nvision at leaast 51% of mmembers beiing fledglingg
entreepreneurs and freelance ers will qualiify based on reportable income leveels. Coworkking is still a relatively
new concept, esspecially outside of majo or metros, ou ur next colleective challenge is to quaantify the ecconomic
beneefit these en
ntities have o
on our comm munities.