We hope you’re planning to join us for FlexOffice2018 on September 12–14 in Austin, Texas. The GWA and NAIOP are proud to be presenting not only an outstanding lineup of speakers but also a special pre-conference workshop to help coworking space operators and building owners alike create optimal partnerships to propel their spaces forward.
The joint venture model for coworking—where building owners and coworking space operators work together to create and run a coworking space, rather than an operator simply renting from a landlord—is thought by many to be the future of coworking. Numerous experts have noted the growing popularity of coworking as a sustainable, profitable use of real estate. In fact, this growth has lead to top-tier building owners actively seeking coworking operators to bring their coworking communities to their space.
Joint ventures can provide each partner with the best of both worlds. Coworking operators are able to access the space they need to create their flexible office space more efficiently, without many of the financial roadblocks that pose a serious problem for operators looking to start or expand a space. Many operators also find a joint venture lowers the risk they must take on in starting a space. On the other side of the equation, building owners entering joint ventures can access a set of skills and knowledge base through the operator that allows them to put a business in their space that they otherwise may not have the expertise to do. Many owners also find these types of partnerships to offer a better return than normal market rent would, while also offering opportunities for expansion within the partnership, which can lead to even more revenue. These partnerships are expected to continue growing in popularity due to this benefit to owners, operators, and members as well.
If you’re wondering how to find a partner that works for you both personally and financially, the pre-conference workshop is for you. In it, we’ll be looking specifically at how to find the right match for your coworking space joint venture or management contract partnerships. Together, we’ll walk through the process of drafting an agreement that is beneficial for all parties, with sample agreements available. The workshop will also give you an understanding of what a successful coworking space partnership looks like, opportunity costs and benefits, and how to form an agreement with confidence that you are picking the right fit for your space.
This workshop costs $147 for members and $197 for non-members and takes place from 1:00 pm-3:00 pm on Wednesday, September 12. You can learn more and register on the conference website.