Data for Coworking Space Owners and Operators
For coworking space owners and operators, and small business owners who want a peek behind the curtain, we offer an honest and detailed look at the numbers behind The Skillery.
On January 1, we closed our Nashville coworking space. Learn more here.
All of our coworking data, for all to see.
At The Skillery, we believe in transparency and helping others. So we keep our books wide open for all to see. All our financials, all our revenue information, all our expenses. All available here. For coworking space owner/operators, and entrepreneurs who want a peek behind the curtain at a small business, this is an honest and detailed look at the numbers behind The Skillery.
What is this?
This is raw data from our coworking space. It is by no means a complete look at the financial health of The Skillery, but it's as close as we can get.
Who is it for?
We created this page for owners and operators of coworking spaces, primarily, but the data within — and the meaning behind it — may be useful to other entrepreneurs and small business owners.
When is this data updated?
We update this data once per month, usually in the first week or so of the month, once we've closed the books on the previous month. Want to know when it's updated? Follow us online: @theskillery
The Google Spreadsheet that we've embedded below contains an almost-up-to-date reflection of our revenue and expenses, and an overview of how those components breakdown. Viewing this on a mobile device? Consider one of the buttons, below, for easier viewing.
Our revenue: an overview
While our revenue comes from a number of different sources, 76% of our revenue in 2015 came from our coworking space (versus 31% in 2014). We expect this percentage to be even higher in 2016.
Revenue Sources, 2014
Revenue Sources, 2015
Our revenue from coworking
Coworking revenue is generally broken into the following areas: membership dues, licensing fees*, day passes and weeklong trials, venue rental, dedicated workstations and semi-private offices, and key fobs.
Number of Coworking Members, Total
Number of Coworking Members, by Membership Type
Coworking Revenue, Membership Dues Only
Coworking Revenue from Additional Products
*Licensing Fees are generated by unique relationships with a couple of tenants of our space. We explained our relationship with licensees at the end of our blog post summarizing our first year of running a coworking space.
Our expenses: an overview
We do have expenses related to classes and workshops that we've offered in the past, as well as our Introduction to Entrepreneurship workshop and Starter Kit, but this page focuses on our coworking space. The expenses related to our coworking operation generally fall into the following categories: human expenses, facilities expenses, services, taxes and miscellaneous.
Operation Expenses, By Type
Our expenses: facilities
Maintaining and operating our facilities account for the vast majority of our expenses. We invest in furniture acquisition and equipment upgrades to the tune of about $400/mo. In addition, some of our relatively consistent expenses include:
Insurance: $2400/yr, paid quarterly
Maintenance costs: $200/mo, on average
Additional Expenses Related to our Facilities
Our expenses: services
There are certain things we can't do ourselves, and others that we choose to outsource. We paid our lawyer a few thousand dollars to help us get off the ground with membership agreements and whatnot, but (thankfully) haven't needed him since. With the exception of a onetime annual spike in software costs (we tried a Dropbox for Business subscription, which we ended up not renewing in 2016), our service costs are generally fairly consistent.
Expenses Related to Services
Want some help?
Starting and running a coworking space is hard, and we're here to help.
Got a question?
Admittedly, we don't spend a lot of time on this page going into much analysis of the data. We do that on our blog, occasionally, and we're always happy to chat in more detail about what this all means. Leave us a comment below, if you like.
Still need help?
Think you might benefit from some help with your coworking space? Our founder and CEO, Matt, dedicates a portion of his time to offering one-on-one assistance to coworking owners and operators. Give us a shout, and tell us what you need.
Coworking blog posts.
We make sense of the data on our blog. Below are some recent blog posts we've written about coworking.
Spread the word about this page.
Like what you see here? Finding it useful? Please help us spread the word by tweeting about it!