OurSpaceYour Space to CreateJodi Dean260.email@example.comExecutive Summary<br />Business Philosophy<br />OurSpace will be a cooperative workspace for individuals engaged in technology, communication, art and other creative business ventures. The space will initiate ingenuity, innovation and collaboration among members.<br />Vision<br />OurSpace will be a workspace that brings a critical mass of solo professionals into a revitalized downtown. It will be a key focal point of innovation in the downtown market, through the provision of infrastructure for key business transitions. <br />Goals<br />Functional Operation: OpenSpace will operate as a “turn key operation” beginning on June 1, 2009 with a minimum of two full time space users and four flex-time space users.<br />Create Awareness: Increase market expose through the use of word-of-mouth campaigns and media blitzes that reach self-employed and independently contracted individuals.<br />Ensure Occupancy: Secure a minimum of forty-two members with the first year.<br />Warrant Sustainability: Develop relations with key economic development specialist, downtown business leaders and urban revitalization supporters.<br />The Coworking Movement Defined<br />Coworking is a movement to create cafe-like community/collaboration spaces for entrepreneurs, innovators, developers, writers and others. The movement began on the West Coast in 2005. Young entrepreneurs and independents, in the San Francisco Bay area, who felt isolated from the outside world in their home offices banded together to operate a shared workspace. Today, coworking has spread from the West Coast to the East Coast, and spaces for independent workers have developed in Philadelphia, Pennsylvania, DeMoines, Iowa and Akron, Ohio.<br />When independents form a ‘critical mass,’ they utilize shared social, business and technological resources and have the ability to transform an entire area, whether a neighborhood or a city. Bacigalupo and Dickert (Bacigalupo, T. and Dicket, S. NewWorkCity, August 2008) state coworking spaces assist their local communities in three general ways:<br />Providing a space for free-flow of technical and creative expertise<br />Coworking spaces have a culture of share and support. This provides for a rapid transference of difficult-to-learn knowledge in the areas of technology <br />(e.g. programming, system administration and applications) and creativity (techniques, strategies, information sources).<br />Providing a support infrastructure for new entrepreneurs<br />In coworking spaces, the trials and tribulations of starting up or running a knowledge-based business is often a common thread for a community of knowledge of workers. By providing people a way to speak to their fellow entrepreneur, coworking spaces help make it easier for people to get their businesses off the ground.<br />Providing long-term economic value without government investment<br />Coworking leverages the existing openness of modern entrepreneurs. Members are not simply customers; they are active in maintaining and growing the community. When many of these talented individuals are put together in the same room, new ideas are cultivated and newer stronger businesses are born. This culture of growth can generate additional tax revenue and economic value for this host city.<br />Keys to Success<br />In order to succeed, OurSpace will strive to achieve the following goals:<br />Position OurSpace as the premiere workspace for entrepreneurs, innovators, developers, writers and other solo professionals.<br />Build strong market position among potential members, downtown development professionals and key economic leaders.<br />Maintain sound financial management via negotiation of pre-term contracts to develop initial cash flow, followed through the implementation of a member relations program to sustain revenue. To secure additional revenue, regularly scheduled open houses and special events will be held to create a database of potential members. <br />Company Summary<br />Company Ownership<br />Jodi Dean will be the sole owner of OurSpace. With a background in the nonprofit, education and government sectors, she will be able to apply the leadership, communication and governance skills to the business field, in a manner that creates innovative, opportunity and synergy among space users. Under her leadership, OurSpace will become an effective tool to sustain a critical mass for the purposes of downtown revitalization.<br />Location <br />OurSpace will operate in the central core of the city limits of Fort Wayne. Preferably in a building within the boundaries of Broadway Street (West), Clay Street (East), Superior Street (North) and CSX (Penn Station) Railroad (South). However, if no acceptable location is found within this vicinity, properties within the Lakeside and West Central neighborhoods will be considered. The facility will need to be near main-line transportation (bus), main thoroughfare (auto) and Rivergreenway (bicycle and foot). The centralized location will give individuals quick access to a multitude of cultural, civic and recreational venues, including but not limited to the Fort Wayne Museum of Art, ArtLink, Cinema Center, Embassy Theatre, Harrison Square and Headwaters Park.<br />Target Location Needs<br />Location: Downtown;<br />Size: 1,500 – 3,000 square feet;<br />Facility Offerings: Large room for general work space, two to foiur private work areas for secure business discussions and conference room for presentations. <br />Technology: Verizon FIOS Access<br />Security: Central Alarm, Key FOB System<br />Parking: On-site parking or near-by parking for 10 to 20 vehicles; <br />Access to hotels and other essential places of businesses for out-of-town workers and convention goers.<br />Potential Sites<br />Former Republican Headquarters Building – Main Street and Harrison Street<br />Former InstantCopy Building – 232 West Wayne Street<br />Randall Building – Harrison Street and Pearl Street<br />Former Three Rivers Food Co-Op Building - 1122 - 1126 Broadway Street<br />Hours<br />It is expected that OurSpace will be in operation Mondays through Thursdays from 8:00 a.m. to 11:00 p.m., Fridays and Saturdays from 8:00 a.m. to 6:00 p.m. and Sundays 1:00 p.m. to 6:00 p.m.<br />Legal Structure<br />OurSpace will be created as a sole proprietorship. Jodi Dean will be solely for all aspects of the business, including unlimited liability for the debts of the venture. Due to the nature of the business, the legal structure will be reviewed each 12 to 24 months.<br />INDUSTRY ANALYSIS<br />OurSpace will be the premiere workspace designated towards energizing a critical mass of solo professionals. The design will facilitate cooperation among independents who “welcome” the space as an alternative to their home office or neighborhood coffee house. As a presupposed notion, OurSpace will operate as a catalyst for innovation, specifically in the downtown market. Members will exchange ideas and create a synergy that transforms downtown in an innovative urban area.<br />The Shared Workspace Environment<br />Shared workspace has become an ever-popular solution for solo practitioners in a multiple line of fields. Independents, who once utilized their home offices as workplace thrones, are branching out to business centers, coworking sites and shared workspaces to achieve work-life balance and face-to-face communication. Across the board, shared office space businesses and independent coworking sites have seen an increased demand. Regus Business Centers, a short-term executive office provider, expects an increase of 200% for its usage rates during the next 24 months; it will respond by placing additional office spaces in current markets and nearby suburban markets (Regus Business Centers, www.regus.com, September 9, 2008. <br />In the past three years coworking sites, once only seen in high-tech areas, have been discussed in more than 110 communities; more than 40 sites exist currently. Within the midwest, 19 communities have explored the convention of a coworking site, and five midwestern cities have a coworking site. Due to the media buzz on coworking sites, and the human demand for these workspaces, the number of sites will double between the next two to three years. Even in today’s economic hard times coworking spaces are in high demand. The low cost facilities allow solo professionals to work independently and small firms to start and grow roots. Concurrently, large corporations are able to explore new communities to conduct business without investing funds into equipment, building and infrastructure. <br />Provided Services and Opportunities<br />OurSpace will operate on a membership basis that provides specialized services for the solo professional. Members will be able to obtain a desk/table for workspace, utilize a telephone or facsimile for communication and attain a locker for storage of materials.<br />Product Service Description<br />Membership Model<br />OurSpace will be a membership-driven entity, via the provision of office services, as opposed to lease services and facilities management. Members will be expected to utilize shared resources, contribute to facility growth and collaborate with internal and external community members.<br />OurSpace Membership will include:<br />Desk and tables to work from, either on a day-to-day or permanent basis;<br />Conference for internal/external meetings and presentations;<br />FIOS internet connection;<br />Free local phone calls;<br />Free local facsimiles; long distance facsimiles will be charged a la carte;<br />Physical mailing address; <br />Shipping via USPS, UPS and Fed-Ex;<br />Locker Storage for materials and equipment full time members.<br />In fostering Fort Wayne’s entrepreneurial community, OurSpace will host:<br />Workshops – Events focused on shared knowledge whether technological advancements, business development or personal well-being.<br />Networking Opportunities – Formal and informal events that encourage relationships between solo proprietors and business professionals, including bankers, development professionals, technologist and angel investors.<br />Through the provisions of space and programming, OurSpace will become a centralized <br />hub for community-based entrepreneurial growth and innovation in a variety of fields.<br />Future Products and Services<br />OurSpace staff and members will create and maintain a wish list of future products and services to ensure optimal growth via quarterly review. It is expected that more than one member may request laptop rental services, large print services and updated technologies to ensure the quality of their product. There will be potential demands for entertainment options, i.e. gaming systems and TinCap tickets. <br />Differentiation<br />OurSpace will be differentiated from area competitors in the several ways:<br />Inclusively: Provision of multiple services including space, furniture, technology and communication devices.<br />Multiple Trajectories: There will be a broad range of occupations represented by a number of solo professionals. While the majority of OurSpace members will be involved in information technology, marketing and communications, and arts and culture, there have been a number of inquiries from professionals in the fields of religion, fund development and education. <br />Membership: Fees for services will be based upon flexible membership options. Those fees can be paid on a daily, weekly, monthly, quarterly or annually. <br />Innovation: OurSpace will focus on providing the technological and social resources to assist members develop innovative services and products that lead to the creation of downtown businesses and new jobs.<br /> <br />Shared Workspace Industry Analysis<br />Market Segmentation and Growth Patterns<br />OurSpace will target solo practitioners who demonstrate the willingness to build a critical mass of like-minded individuals, who are able to utilize the latest technology, share vast knowledge on cultural matters and take part in discussions that lead to product and service innovation. <br />Based on recent statistics, Fort Wayne is ripe to benefit and sustain a coworking site. According to records from the Allen County Public Library – Business Research Division, in 2006 there were a total of 1,069 home-based businesses operated by a solo-practitioner. An estimated 388 of the entities were capable of operating at coworking site. Although the number is rather low, in the next two to three years, that number will rise dramatically due to today’s current economic market and entrepreneurial advances. According to the Fort Wayne Women’s Bureau, approximately 300 Allen County residents seek assistance each year from the groups’ Women’s Enterprise to start their own business.<br />One must realize that solo practitioners work in a wide variety of venues, not just home. Thus it is expected that OurSpace will have a large number of solo-practitioners to target. According to the U.S. Bureau of Economic Analysis (September, 2008), 32,487 residents of Allen County were classified as self-employed business owners, and this number is rising. According to the article I Did It My Way: Self-Employment on the Rise in Indiana (Kinghorn, M, March 2007) independent solo workers have the largest benefit in professional and technological services, retail trade and other services. In Allen County, this equates for 10,430 employment positions. According to growth patterns presented in the article, by 2011 an estimated 18,168 will be employ themselves.<br />Segment Name Growth 2008200920102011Other Services 25.11 % 4320540567628460Retail Trade 13.70 % 1930219424952837Prof. & Tech. Svcs. 18.14 % 4180493858346892Total0.20 %10430125371509118189<br />There is antidotal evidence that the art and technology communities are anticipated in Fort Wayne to sustain their respective work lines. In September 2007, ArtLink hosted a forum where over 50 individuals gathered to discuss the start-up of an artist cooperative in downtown Fort Wayne. Geek Dinner has been created to assist information technologist maintain social ties and knowledge resources that are vital to their productivity; as of October 8, 2008, 77 individuals took part in the groups online chat log. Also a newly formed collective, Screaming Monkeys, has been formulated to provide social and intellectual opportunities for website developers. <br />Industry and Alternative Workspace Location Analysis and Differentiation<br />Industry Participant Characteristics<br />Independent: According to the B.E.A. Annual Employment Release, Allen County had 32,487 proprietors/self-employed residents (30,956 non-farm proprietors and 1,531 farm proprietors). The number of Generation-X and Baby Boomers, who wish to develop their own companies, will likely cause the number of self-employed residents to increase substantially. Additionally Generation Y members, those born between the ages of 1980 and 2000, often seek independent, entrepreneurial experiences and opportunities more than money and security. Yet those in the Generation Y have been brought up in an era where teamwork is emphasized, rather than independent thought. In Allen County, this is significant as there are approximately 31,000 college-aged students who make their residence and are looking for a fulfilling livelihood after graduation.<br />Connected: Although the majority of independents enjoy the freedom of working from home, most report they feel isolated from the “outside world.” Many independents who are employed in a traditional office environment report they often miss the informal “water-cooler discussions” in which casual relationships form between colleagues. According to the 2007 CDW Telework Report, CDW Corporation, 79% of private sector workers and 50% percent of public sector workers were worried about feeling isolated and missing human interaction if they were to start telecommuting. In addition, CDW stated that roughly a third of both private and public-sector workers also reported that they didn't want to stay at home during work.<br />Focused: Parents with young children and young adults with roommates often face numerous challenges and distractions when working at home. Whether the baby is crying or the roommate is demanding, the at-home worker will need to spend time away from their computer, cell phone or desk to handle the disruptions, no matter the frequency or number. For some individuals, when the interruptions come too often, the at-home office is no longer ideal.<br />Strapped: On average, the lease rate for a 400 square foot office in downtown Fort Wayne is $4,000 per year (an average of $10.00 per square foot). When the cost of technology, furniture and utilities for the office is included it can push that annual cost to an annual amount well over $6,500. The factor of cost, along with isolation, leads a large percentage of independents and entrepreneurs to shun this work environment.<br />Caffeinated: Bedouins are known as the worker who transforms Starbucks, or the local coffeehouse, from a 3rd place into a 2nd place. These independent workers often sit at tables with “laptops and cell phones, paying for their office space and Internet access by buying coffee and muffins” (www.sfgate.com/cgi-in/article.cgi?file=/c/a/2007/03/11 /MNGKKOCBA645.DTL). On average each Bedouin pays $2.75 per visit to a coffee house, which makes it a cheap option to conduct business. However, “one pays for what they get.” Many Bedouins complain about the lack of space to conduct confidential meetings and the ability for other freelancers to access confidential information from shared network access.<br />Well-Balanced: Independents and entrepreneurs often leave the traditional workplace seeking a better work-life balance. They believe that by working at home, they can devote less time to work and more time to hobbies. In contrast, research states that the typical independent who works from their home puts in more time, and often more effort. And many independents have trouble defining boundaries, which creates the 24-hour-tied-to-a-desk-and-can’t-leave-work syndrome.<br />Industry Operations QualitiesCoworking SpaceServiced OfficePublic Library Neighborhood CoffeehouseParking Fees included for full-time members.Fees dependent on location.Fees dependent on time and location.Fees dependent on location.Computers Encouraged to bring in laptop.Desktop and laptops are usually available for no or little fee; Documents are subject to security issues.Computers are available in 60 minute increments;Patrons can bring in personal laptops.Must bring laptop.Internet ConnectionFIOS is included in the cost.FIOS/High-Speed is often included in the cost.FIOS is available to library patrons.Must pay extra for services.PrivateConferenceArea Fees included in cost. Fee included in the costs.Yes with reservations. Not available.Local Phone Fees included in costs. Fees included in the costs. Cell phone needed. Cell phone needed.Fax Fees included in costs. Fee included in the costs.Not available.Not available. CopierLimited number of copies per month included in fees.Limited # of copies per mo. included in fees.Available at .25 per page.Not Available.FurnitureFull-time clients have same desk and chair. Tables and desks are available for all other users.Professional desk and chair for all space users.First come, first served. First come,first served. StorageSmall lockers are available for extra fee.Not available.Not available.Not available.DrinksFree drinks included. Available dependent upon location. Drinks are available for purchase. Drinks are available to purchase. Security (1). Desk Manager at front door (2.) Lockers available (3.) Key-fobs will be utilized.General Manager and/or receptionist is available at the front desk.Security guards are available but so are the homeless. No security except for the stray cop in the area. Consultation servicesIncluded in regular member Not available. Ask the librarian on duty!No. CommunityGeneral Manager is available;Coworkers are there to aid each other;Social events are held on a regular basis. The receptionist is friendly; however, each person is in his own island.Librarians are friendly, so are the homeless.Social events areavailable to patrons.Baristras are friendly, so are the homeless.Social events areavailable to patrons.Desk Manager/Receptionist Included in the cost.Included in the cost.Not available. Not available.<br />Competition and Buying Patterns<br />Office space is often reviewed as plentiful and cheap in downtown Fort Wayne. However, for the solo professional, centralized workspace is often too large and burdensome. As of August 27, 2008 Loopnet.com displayed a total of 22 offices available for lease through commercial real estate agencies; 68% were larger than 400 square feet, which is more than adequate for the solo office holder. The average office space was equivalent to 3,667 square feet, at an average square foot cost of $10.43 per square foot, for annual cost of $38,246.81. The remaining office spaces have an average of 241 square feet, at an average cost of $10.15 per square foot, for an annual lease cost of $42.455.32.<br />In addition, the traditional office building has the tendency to isolate workers. As of August 2008 the Lincoln Tower, Star Financial Bank Building, National City Building or Summit Square did not provide their tenants with regular networking meetings or social events. For the majority of the solo-professionals that utilize these sites, the enter and exit the building at certain hours with little contact from other office workers. <br />An alternative to the traditional office model has existed in Fort Wayne, which is a fully furnished executive space. Currently, one such office is located in Fort Wayne, at 4714 Parnell. The space Front Line Offices is quite costly at $775 per month. Although it is all-inclusive with a receptionist, furniture and a computer, it is quite costly and unnecessary, as the typically self-employed individual needs a laptop or desktop computer.<br />Main Competitors<br />Office Building with Small Private Offices<br />Strengths: Pricing, Flexibility<br />Weaknesses: Self-Furnish, Utilities Paid For By the Client, Competitive Demand for Small Solo Offices; Must Secure Own Technology Software and Equipment, Parking<br />Shared Space Leasers<br />Strengths: Fully Staffed, Technology Included In Price<br />Weaknesses: Expense; Lack of Cooperative Work Environment<br /> Strategy and Implementation<br />OurSpace will emphasize service and support. The entity will differentiate itself from other alternatives through the clear creation of a supportive community. During its official launch and continuum the entity will:<br />Focus on building relationships with the independent worker;<br />Develop a branding strategy and effectively market the service to clientele;<br />Develop a basis for sustainability.<br />Marketing Strategy<br />OurSpace marketing strategy will focus on the main strategy:<br />Develop a clear identifiable brand that is recognized by target clientele at community members;<br />Emphasis on development of a community that amplifies services and support for the home-based worker;<br />Solidify relationships among the public and business sectors to ensure the sustainability of OurSpace for an expanded timeframe. <br />Target Markets and Market Segments<br />OurSpace will focus on self-employed, freelance and contracted individuals within the Fort Wayne/Allen County market.<br />Solo professionals booking directly with OurSpace;<br />Referral based clients;<br />Corporate clients: Identification.<br />Pricing Strategy<br />OurSpace will focus on providing a creative, comfortable workspace for professionals. It is a presupposed notion that members will desire face-to-face communication and up-to-date technology. To satisfy these requirements, the emphasis of community and ingenuity will come before price, although revenue must be ensured to create sustainability. To ensure that the model breaks even, as well as assures a minimal profit, the space will utilize the following formula coined by Tara Hunt (Citizen Space, San Francisco, CA):<br />= Cost per desk. (Cost of space x 3 = total cost of space)<br /> (number of square feet / 100 = number of desks) <br />Daily Rates for Non-Members<br />Daily Jo/Joe: $20.00 per punch pass<br />Time Allotment: 10 Hour punch pass; may be utilized over a two day time frame.<br />Benefits: Workspace (table or desk) free local phone calls and broadband internet access. <br />Membership Rates<br />General Membership: $30.00 per month<br />Client Profile: This person is a member who works out of an office outside of Fort Wayne, and needs space on an occasional basis. The targeted space user will be work for a corporation or organization, in a manner where daily travel is a must, and a place that allows privacy to complete confidential documents.<br />Time Allotment: 20 Hours Per Month: Additional hours are available at $15.00 per ten.<br />Benefits: Access to all business services, with increased priority on workspaces and conference room usage.<br />Weekender Membership: $120.00 per month<br />Client Profile: The Weekend Membership option is for those individuals who desire to have a desk and office resources available on the weekend. <br />Time Allotment: 15 Hours Per Weekend <br />Benefits: Access to all business services, with increased priority on workspaces and conference room usage, during the weekends.<br />Moonlighter: $150.00 per month<br />Client Profile: The Evening Membership is for those individuals who desire to have a desk and office resources available two to three nights per week. This is an excellent option for those with business interests or hobbies that are different than their main occupations.<br />Time Allotment: Up to 20 Hours Per Week <br />Benefits: Access to all business services, with increased priority on workspaces and conference room usage, during the evenings.<br />Flexible Flyer: $250 per month<br />Client Profile: The Flexible Membership option is for those individuals who desire to have a desk and office resources whenever they need, but don’t need a desk five days a week. <br />Time Allotment: Up to 30 Hours Per Week<br />Benefits: Access to all business services, with increased priority on workspaces and conference room usage, up to three days a week. <br />Regular Joe/Jo: $350 per month<br />Client Profile: Full time members are people who wish to use the coworking office as their full-time office.<br />Time Allotment: Up to 60 Hours Per Week<br />Benefits: Access to all business services, with option of permanent desk. These members have the first priority on conference space.<br />Workaholic Joe/Jo: $400 per month<br />Client Profile: Full time members are people who wish to use the coworking office as their full-time office.<br />Time Allotment: Up to 85 Hours Per Week<br />Benefits: Access to all business services, with option of permanent desk. These members have the first priority on conference space.<br />Promotion Strategy<br />To draw support from a wide array of clientele, OurSpace will utilize a diverse number of marketing techniques to advertise its presence and services to the greater Fort Wayne community. The techniques that will be utilized are as followed:<br />Viral: Through a myriad of networking opportunities and other ventures, information will be disseminated to potential users. It is expected that space users and administration will give 4 – 6 speeches, on average, per month during the first two years of the operation.<br />Press Releases: Public announcements sent to area newspapers (Fort Wayne News-Sentinel, Frost Illustrated, Fort Wayne Journal-Gazette, INK Magazine and Fort Wayne Reader), regional business publications (Greater Fort Wayne Business Weekly and Upstate Business Journal), local television stations (WANE and Indiana News Channel), area radio stations (Federated Media Stations and NPR) and regional internet blogs (Fort Wayne Observed, The Good City and Downtown Fort Wayne).<br />Open Houses: Quarterly events will develop to showcase OurSpace, its member and its services. Expected guest include friends of members, staff from downtown businesses and supporters of downtown improvement projects.<br /> Memberships: Annual memberships with ArtLink, Fort Wayne Museum of Art, Arts United, YLNI and other coveted agencies will be secured to provide a broad array of networking opportunities. <br />Website: A website with up-to-date information with regards current membership rates, upcoming events and prospective clientele will function as a one-stop gathering site.<br />Published Materials: A set of brochures, business cards and posters will be developed that will be accessible to potential users at area coffeehouses and numerous community events.<br />Sales Strategy<br />OurSpace will provide key services to the coworker, rather than just leased space. The coworking site will thrive upon the notions of community relationships, technological services and business opportunities.<br />OurSpace will provide members with equipment and human capital, in addition to workspace. All sales projections are entered on the utilization of workspaces; a detailed list of projections is below for all workspaces: <br /><ul><li>Three cubicles will be set-aside for Workaholic Joes/Jos; one member will utilize each space. These members can work at the space Monday through Thursday 8:00 a.m. to 11:00 p.m., Friday and Saturday from 8:00 a.m. to 6:00 p.m. and Sunday 1:00 p.m. to 6:00 p.m.
Six cubicles will be utilized for Regular Joes/Jos; these members can work at the space Monday through Saturday 8:00 a.m. to 6:00 p.m.
Six workspaces (tables) will be used for Flexible Flyers; each workspace will be shared by two persons, i.e. person A works Monday and Tuesday, and person B works Wednesday, Thursday and Friday. It is expected that Moonlighter membership holders will occupy those same workspaces Monday through Thursday from 6:00 p.m. to 11:00 p.m.
Two workspaces (tables) will be set aside to be for Daily Workers and Weekenders. Daily Workers will occupy the space Monday through Friday from 8:00 a.m. to 6:00 p.m. and Weekenders will occupy the space on Saturday from 8:00 a.m. to 6:00 p.m. and Sunday 1:00 p.m. to 6:00 p.m.
There will be two tables that will be designated for General Members; those members will be able to utilize OurSpace for up 30 hours per month. It is intended that General Members will utilize the facilities Monday through Thursday 8:00 a.m. to 6:00 p.m., however as space allows General Members may have evening and weekend access.</li></ul>Important Sales Assumptions<br />The below figures provide direct implication to the overall profit margin.<br />Workspace Days<br />200920102011Workaholic Joe/Jo199337352Regular Joe/Jo185305303Flexible Flyer185305303Moonlighter100208200Weekender769593General185201305Workaholic Day100208212Regular Day185305303Light Day185301305<br />Hours<br />OpenCloseMonday8:00 a.m.11:00 p.m.Tuesday8:00 a.m.11:00 p.m.Wednesday8:00 a.m.11:00 p.m.Thursday8:00 a.m.11:00 p.m.Friday8:00 a.m.6:00 p.m.Saturday8:00 a.m.6:00 p.m.Sunday1:00 p.m.6:00 p.m.<br />Sales Forecast<br />The sales total chart summarizes the first three years of a sales forecast. For the first three years of business (2009, 2010 and 2011) sales are expected to increase 10% each year.<br />Projected Membership Sales<br />Sales Forecast200920102011Workaholic Joe/Jo45 7Regular Joe/Jo5614Flexible Flyer101127Moonlighter6714Weekender6714General Member121414Daily Workaholic12143Daily Joe/Jo12143Hourly Joe/Jo12143Total 799299<br />Sales Programs<br />Membership: Drop-In, Week-to-Week, Month-to-Month and Annuals<br />Usage Fees: Long-Distance Phones, Computer, Copies and Faxes<br />Corporate Business List: Compilation of businesses that wish to sell or develop products or services to OurSpace clientele.<br />Sunday Morning AM Lease: Lease to church or other nonprofit group between the times 7 a.m. and 11 a.m. <br />Member Recruitment and Sustainability<br />Recruitment<br />The key objectives to recruitment are (1) showing the space to potential users and (2) selling memberships. Bringing in a critical mass via marketing and events will be crucial to the sustainability of OurSpace. The above mentioned marketing efforts will be put in place to increase awareness of OurSpace. <br />Marketing: As the word of OurSpace is spread through out the community it is expected that will be a number of inquiries from the general public via phone, e-mail and social development sites. Each individual that makes an inquiry will receive a packet of information, that including a membership contract. Whenever possible the packet of information will be given to the inquiring person in a face-to-face meeting. During the meeting, an exchange of information will take place, and after questions are answered the inquirer will be asked for contract and upfront payment. <br />Informal Groups: There are numerous organizations within Fort Wayne that focus on technology, arts, and business, in addition to a number of multicategorical groups that meet in various computer labs, downtown restaurants and donut shops. Although these groups are seem quite content with their current meeting places, group leaders often express concerns regarding lack of space, privacy and technology, which can be often reduced and/or eliminated in a coworking space. To enhance the overall value of these groups and to enhance the visibility of OurSpace, these groups (Geek Dinner, Screaming Monkeys Web Guild, Fort Wayne Adobe Group, Fort Wayne Linux Users Group and Young Leaders of Northeast Indiana) will be invited to utilize the space at no charge after hours (6 – 11 p.m.). It is expected that from each group there will be at least two individuals who are converted to OurSpace Members.<br />Camps: The unconvention conference movement has been a strong component to the growth of technology in the 21st century. These multiple day events been held at a number of coworking sites throughout the world as a way to show off the space and advance the technological front. There are a number of unconferences that may be held at OurSpace including BarCamp, FailCamp, Social Development Camp, PodCamp, Blogger Camp and WordPress Camp. Due to the unconferences often draw in a multitude of individuals from a 150-mile radius, it is expected that a maximum of three people will be converted from campers to OurSpace members. <br /><ul><li>Special Events: A number of special events will be to showcase OurSpace’s facilities and members. Thematic events, i.e. SuperBowl Party, will be held on a quarterly basis with the intent to draw a wide variety of guests, including friends of members, staff from downtown businesses and supporters of downtown improvement projects, as well as the general public. It is expected that these events will convert at least three guests to members.</li></ul>Follow-Up and Conversion<br />Each potential member that attends an event at OurSpace will receive a coupon for a free drop on a specific day. During that day attendees will be able to work free of charge for 10 – 2 p.m., go to lunch with current members and receive an informational packet ( fact sheet, rate sheet and a contract form). In addition, a separate thank you note will be sent to those whose have displayed serious inquiry about the space. <br />Additionally, there will be a contract card that each attendee will fill out at each event. The card will include e-mail and twitter information which will be added to the appropriate database, which will allow the staff to provide electronic updates to potential users. <br />Sustainability<br />Due to the multitude of workstyles of solo professionals, OurSpace recognizes that there will be members who wish to cowork year-round, while others will need seasonal options. Therefore there will be an effort made to maintain a number of members who can spread the word about OurSpace to their stakeholders; therefore discounts will be given to semi-annual and annual members. The allotted discounts will be as followed:<br />10% discount to those individuals who purchase annual members; payment upfront is required.<br /><ul><li>5% discount to those individuals who purchase six month memberships; payment upfront is required.</li></ul>High levels of satisfaction among members will be a primary objective among staff at OurSpace. To maintain high level of satisfaction, all members will be asked to give regular input, electronically and face-to-face, to boost the quality of the facility and services. Members will be able to provide suggestions regarding events, equipment or facilities, and each suggestion will be reviewed by an improvement commitment, comprised of four to six members of all various levels, and then recommended the best suggestions to the staff for implementation. Such practices, including the ability to have influence of the space’s technology, will lead to longer commitments and a higher number of members.<br />Timeline<br />DateItemOngoingSecure Potential UsersOngoing Viral MarketingOngoingDiscussions January 30, 2009Finalize All Business Plans and Financial StatementsMarch 15, 2009 Secure 1st 1/2 of FinancesMay 1, 2009 Secure Remaining FinancesMay 1, 2009Obtain BuildingMay 10, 2009Press Release Regarding BuildingMay 10, 2009Marketing Contracts SignedMay 10, 2009Purchase Furniture and EquipmentJune 1, 2009Open House June 1, 2009Open DoorsJuly 1, 20092nd Quarter Report to InvestorsOctober 1, 20103rd Quarter Report to InvestorsJanuary 2, 20104th Quarter Report to InvestorsJanuary 15, 2010Open Meeting with Investors<br />MANAGEMENT<br />Management Summary <br />OurSpace management philosophy is based on the utilization of shared respect, communication and innovation. <br />Organizational Structure<br />CESCO<br />Membership LiaisonDesk Manager<br />Personnel Plan<br />Chief Community Leader: The Chief Community Leader provides overall guidance to the staff and members of OurSpace. This individual manages the daily operations of OurSpace with primary concern for service delivery, supervision and training of staff, fiscal management, marketing/public relations, member recruitment and other business manners.<br />Desk Manager: The Receptionist will greet visitors, handle incoming calls, perform general administrative duties and assist OurSpace members as the need arises.<br />Hours WorkedWageSalary CCL40 Per Week$16.00$35,000.00Desk Manager16 Per Week$8.00 $6,400.00Membership LiaisonOn-Call Not ApplicableNot Applicable<br />Risk Management<br />OurSpace will ensure that members work in a space is an environment that safe and without risk. Thus, the following measures will take place to minimize and/or cover our exposure to the risks:<br /><ul><li>Insurance: OurSpace will be insured under a commercial policy package. As written, the policy will cover the following basic perils: windstorm or hail, riot or civil commotion, explosion, lightning, fire, vehicles or aircraft, vandalism, volcanic action, smoke damage, sprinkler leakage, sinkhole collapse, falling objects, weight of snow, ice or sleet and water damage. A commercial umbrella will be secured for reasons of general liability with a general aggregate of at a least a minimum of $2,000,000 and each occurrence of $1,000,000.</li></ul>Liability Clause: Each space user will sign a contract that will state any equipment or valuables brought in to OurSpace (whether under lock and key or not) are the responsibility of the owner with no exceptions - even from damage by another member. It is expected that each member will have a homeowners’ policy that would cover the loss of personal property off site from the home.<br /><ul><li>Staff and Liaisons: During the hours of operation, OurSpace will have each have a manager, staff member or member liaison that is on duty. Each individual will be responsible for monitoring the area, registering all users and cleaning the facility. The staff and/or liaisons will follow protocols in the event of accident, attack, robbery or other security breech. Additionally, staff and liaisons will be trained in first aid and CPR to handle medical situations, until the appropriate emergency personnel arrive on scene.</li></ul>Relations with FWPD: Fort Wayne Police Department patrol officers will be able to utilize OurSpace at no charge, while they are uniform. It expected that FWPD officers would utilize the space to complete paperwork and/or meet with area business owners and community residents about neighborhood concerns.<br />Financial Plan<br />The most important element in the financial plan is the determining of critical needs for ensuring members utilize the facility.<br />Investment<br />The most important element of the financial plan is the critical need to ensure that the members utilize the facility. To establish this space the following two methods will be utilized:<br />Upfront payments by members: This concept is predicated upon the need of the community to see the space to come to fruition. To ensure there is enough momentum to create a sustainable workspace members who are motivated will assist in the development of the space through the willingness to pay a portion of their membership fees upfront.<br />Private Investment: Initial funding will come from private sources. Funds from venture capitalist or private investor, as opposed to a lending institution, will be utilized. Investors who have an interest in the revitalization of Fort Wayne into a hub for those whose are lives are technological driven. <br />Due to the uniqueness of this project, a multitude of other coworking spaces have relied of self-financing. The founders of Office Nomads, Seattle, WA, secured a home-equity loan in the amount of $150,000 to purchase the building, furniture and equipment. Personal saving accounts are another source of funding these types of projects. Rather on relying on one person OurSpace will be built with a perceived notion of community, thus a number of investors are likely to contribute. <br />Projected Sales<br />Through ardent sales measures, it is expected that at least 42 individuals will become OurSpace members during the first year of operations. The net profit will be arrived from membership fees deducted from building and business expenses (furniture, equipment and utilities.) In operation years two and three, the net margin is expected to rise due to decreased furniture purchases and increased membership sales. <br />Sources of Funding<br />Sources of FundingAmountTotalsOwner's Cash Injection20.00%11,488Upfront Memberships11.00%12,000 Additional Loans or Debt69.00%33,951Total Sources of Funding$57,439 <br />Return on Investment<br />OurSpace will provide a profitable investment for all investors. As each committed investor, the investor will obtain a minimum return rate of 20% per year. Thus if the investor, provides an upfront investment of $20,000 they will receive a minimum of $4,000 per year. <br />Key Financial Indicators<br />Projected Budget<br />LeaseMonthsRate200920102011Monthly Agreement121350 16,200.00 16,200.00 16,200.00 2nd Floor120 - - - Utilities Electric12300 3,600.00 3,600.00 3,600.00 Sewer/Water/Trash12250 3,000.00 3,000.00 3,000.00 Heat/Air12300 3,600.00 3,600.00 3,600.00 Technology Cell Phone12100 1,200.00 1,200.00 1,200.00 Land Line Phone11300 3,300.00 3,300.00 3,300.00 Computer Station11200 1,200.00 - - Software11000 1,000.00 500.00 500.00 FIOS12140 1,680.00 1,680.00 1,680.00 Facsimile190 90.00 - - Copier10 - 3,600.00 3,600.00 Furniture Reception Area Desk and Chair1$619 619.00 0 0- Main Work Area Cubicles9$699.00 6,291.00 0 0- Tables1649 784.00 0 0- Chair1649 784.00 0 0- Couch1579 579.00 0 0- File Cabinets289.00 178.00 0 0- Conference Conf. Room Pack.12549 2,549.00 0 0- Storage Lockers1830.28 545.04 0 0- Supplies Coffee/Snacks10400 4,000.00 0 0- General Office12200 2,400.00 0 0- Staffing Director50700 35,000.00 35,000.00 35,000.00 Desk Mgr.8800 6,400.00 6,400.00 6,400.00 Desk Mgr.00 - 6,400.00 6,400.00 Insurance Commercial P&L12150 1,800.00 1,800.00 1,800.00 Marketing Website12100 1,200.00 1,200.00 1,200.00 Advertisements12150 1,800.00 1,800.00 1,800.00 Attorney Fees 10170 1,700.00 1,700.00 1,700.00 CPA Fees10032 3,200.00 3,200.00 3,200.00 Total $ 104,699.04 $ 94,180.00 $ 94,180.00 <br />Required Start-Up Funds<br />Required Start-Up FundsAmountTotalsFixed Assets $ 20,139Equipment7,820 Furniture and Fixtures 12,319 Vehicles0Other Fixed Assets 0Total Fixed AssetsOperating Capital0Pre-Opening Salaries and Wages 20,700 Prepaid Insurance Premiums 1,800 Beginning Inventory 0Legal and Accounting Fees 4,900 Rent Deposits 4,050 Utility Deposits 2,550 Supplies 1,800 Advertising and Promotions 1,500 Licenses 0 Other Initial Start-Up Costs 0 Working Capital (Cash On Hand) 0Total Operating Capital$ 37,300Total Required Funds $ 57,439<br />Projected Income Statement - Year OneJan.Feb.MarchApr.MayJuneJulyAug.Sept.Oct.Nov.Dec.TotalsIncomeWorkaholic 4,800 - 3,200 800 800 800 800 800 800 3,600 1,600 1,200 19,200 Regular Joe/Jo - 4,200 2,100 2,100 1,050 700 700 1,050 3,150 3,150 1,400 1,400 21,000 Flexible Flyer 3,000 3,000 1,500 1,250 1,500 2,250 2,250 3,250 4,500 3,250 3,000 1,250 30,000 Moonlighter 1,920 1,920 960 960 960 960 960 960 1,920 1,920 960 960 15,360 Weekender - - 4,800 5,200 2,800 2,800 2,400 2,400 2,400 2,400 2,400 2,400 30,000 Daily Workaholic - - 50 100 150 200 300 350 400 450 500 500 3,000 Daily J - - 50 100 150 200 300 350 400 450 500 500 3,000 Hourly Joe/Jo - - 30 60 90 120 180 210 240 270 300 330 1,830 Member - - 60 120 180 240 360 420 480 540 600 600 3,600 Total Income 9,720 9,120 12,610 10,410 7,260 7,710 7,410 8,810 13,170 14,770 9,860 7,710 49530095250 118,560 Cost of SalesWorkaholic 2,388 - 1,592 398 398 398 398 398 398 1,791 796 597 9,552 Regular Joe/Jo - 1,716 858 858 429 286 286 429 1,287 1,287 572 572 8,580 Flexible Flyer 600 600 300 250 300 450 450 650 900 650 600 250 6,000 Moonlighter - 726 363 363 182 121 121 182 545 545 242 242 3,630 Weekender - - 2,388 2,587 1,393 1,393 1,194 1,194 1,194 1,194 1,194 1,194 14,925 Daily Workaholic - - 14 28 42 56 84 98 112 126 140 140 840 Daily J - - 14 28 42 56 84 98 112 126 140 140 840 Hourly Joe/Jo - - 14 28 42 56 84 98 112 126 140 140 840 Member - - 18 36 54 72 108 126 144 162 180 180 1,080 Total Cost of Sales 2,988 3,042 5,515 4,484 2,744 2,704 2,533 2,951 4,436 5,593 3,544 2,995 43,527 - Gross Margin 6,732 6,078 7,095 5,926 4,517 5,006 4,877 5,860 8,735 9,178 6,316 4,715 75,033 Salaries and WagesOwner's Compensation - - - - - - - - - - - - - Salaries 2,916 2,916 2,916 2,916 2,916 2,916 2,916 2,916 2,916 2,916 2,916 2,916 34,994 Full-Time Employees - - - - - - - - - - - - - Part-Time Employees 533 533 533 533 533 533 533 533 533 533 533 533 6,396 Independent Contractors - - - - - - - - - - - - - Payroll Taxes and Benefits 305 305 305 305 305 305 305 305 305 305 305 305 3,656 Total Salary and Wages 3,754 3,754 3,754 3,754 3,754 3,754 3,754 3,754 3,754 3,754 3,754 3,754 45,046 Fixed Business ExpensesAdvertising 250 250 250 250 250 250 250 250 250 250 250 250 3,000 Contract Labor 150 150 150 150 150 150 150 150 150 150 150 150 1,800 Credit Card and Bank Charges - - - - - - - - - - - - - Customer Discounts and Refunds - - - - - - - - - - - - - Dues and Subscriptions - - - - - - - - - - - - - Entertainment - - - - - - - - - - - - - Insurance (Liability and Property) - - - - - - - - - - - - - Internet - - - - - - - - - - - - - Legal and Professional Fees - - - - - - - - - - - - - Office Expenses 400 400 400 400 400 400 400 400 400 400 400 400 4,800 Postage and Delivery - - - - - - - - - - - - - Rent (on business property) 1,020 1,020 1,020 1,020 1,020 1,020 1,020 1,020 1,020 1,020 1,020 1,020 12,240 Rent of Vehicles and Equipment - - - - - - - - - - - - - Repairs and Maintenance - - - - - - - - - - - - - Supplies - - - - - - - - - - - - - Telephone and Communications - - - - - - - - - - - - - Travel - - - - - - - - - - - - - Utilities - - - - - - - - - - - - - Total Fixed Business Expenses 1,820 1,820 1,820 1,820 1,820 1,820 1,820 1,820 1,820 1,820 1,820 1,820 21,840 Other ExpensesAmortized Start-up Expenses 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 12,433 Depreciation 298 298 298 298 298 298 298 298 298 298 298 298 3,581 InterestCommercial Loan - - - - - - - - - - - - - Commercial Mortgage - - - - - - - - - - - - - Line of Credit - - - - - - - - - - - - - Taxes - - - - - - - - - - - - - Total Other Expenses 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 16,014 Net Income (176) (830) 187 (982) (2,392) (1,902) (2,031) (1,049) 1,826 2,269 (592) (2,193) (7,868)<br />Projected Income Statement - Year Two Jan.Feb.MarchApr.MayJuneJulyAug.Sept.Oct.Nov.Dec.TotalsIncomeWorkaholic 5,200 400 3,600 880 880 880 880 880 880 3,960 1,760 1,320 21,520 Regular Joe/Jo - 4,620 2,310 2,310 1,155 770 770 1,155 3,465 3,465 1,540 1,540 23,100 Flexible Flyer 3,300 3,300 1,650 1,375 1,650 2,475 2,475 3,575 4,950 3,575 3,300 1,375 33,000 Moonlighter 2,112 2,112 1,056 1,056 1,056 1,056 1,056 1,056 2,112 2,112 1,056 1,056 16,896 Weekender - - 5,280 5,720 3,080 3,080 2,640 2,640 2,640 2,640 2,640 2,640 33,000 Daily Workaholic - - 55 110 165 220 330 385 440 495 550 550 3,300 Daily J - - 61 121 182 242 363 424 484 545 605 605 3,630 Hourly Joe/Jo - - 36 73 109 145 218 254 290 327 363 363 2,178 Member - - 73 145 218 290 436 508 581 653 726 726 4,356 Total Income 10,612 10,432 8,616 5,621 4,741 5,181 5,181 6,666 11,407 13,112 7,656 5,291 94,516 Cost of SalesWorkaholic 2,587 199 1,791 438 438 438 438 438 438 1,970 876 657 10,706 Regular Joe/Jo - 1,888 944 944 472 315 315 472 1,416 1,416 629 629 9,438 Flexible Flyer 660 660 330 275 330 495 495 715 990 715 660 275 6,600 Moonlighter 600 600 300 300 300 300 300 300 600 600 300 300 4,800 Weekender - - 2,627 2,846 1,532 1,532 1,313 1,313 1,313 1,313 1,313 1,313 16,418 Daily Workaholic - - 15 31 46 62 92 108 123 139 154 154 924 Daily J - - 15 31 46 62 92 108 123 139 154 154 924 Hourly Joe/Jo - - 15 31 46 62 92 108 123 139 154 154 924 Member - - 20 40 59 79 119 139 158 178 198 198 1,188 Total Cost of Sales 3,847 3,347 3,365 1,957 1,540 1,547 1,547 1,925 3,444 4,701 2,465 1,861 31,544 Gross Margin 6,765 7,085 5,251 3,664 3,201 3,634 3,634 4,741 7,964 8,411 5,191 3,430 62,972 Salaries and WagesOwner's Compensation - - - - - - - - - - - - - Salaries 3,004 3,004 3,004 3,004 3,004 3,004 3,004 3,004 3,004 3,004 3,004 3,004 36,044 Full-Time Employees - - - - - - - - - - - - - Part-Time Employees 549 549 549 549 549 549 549 549 549 549 549 549 6,588 Independent Contractors - - - - - - - - - - - - - Payroll Taxes and Benefits 313 313 313 313 313 313 313 313 313 313 313 313 3,751 Total Salary and Wages 3,865 3,865 3,865 3,865 3,865 3,865 3,865 3,865 3,865 3,865 3,865 3,865 46,383 Fixed Business ExpensesAdvertising 258 258 258 258 258 258 258 258 258 258 258 258 3,090 Contract Labor 155 155 155 155 155 155 155 155 155 155 155 155 1,854 Credit Card and Bank Charges - - - - - - - - - - - - - Customer Discounts and Refunds - - - - - - - - - - - - - Dues and Subscriptions - - - - - - - - - - - - - Entertainment - - - - - - - - - - - - - Insurance (Liability and Property) - - - - - - - - - - - - - Internet - - - - - - - - - - - - - Legal and Professional Fees - - - - - - - - - - - - - Office Expenses 412 412 412 412 412 412 412 412 412 412 412 412 4,944 Postage and Delivery - - - - - - - - - - - - - Rent (on business property) 1,051 1,051 1,051 1,051 1,051 1,051 1,051 1,051 1,051 1,051 1,051 1,051 12,607 Rent of Vehicles and Equipment - - - - - - - - - - - - - Repairs and Maintenance - - - - - - - - - - - - - Supplies - - - - - - - - - - - - - Telephone and Communications - - - - - - - - - - - - - Travel - - - - - - - - - - - - - Utilities - - - - - - - - - - - - - Total Fixed Business Expenses 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 22,495 Other ExpensesAmortized Start-up Expenses 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 12,433 Depreciation 298 298 298 298 298 298 298 298 298 298 298 298 3,581 InterestCommercial Loan - - - - - - - - - - - - - Commercial Mortgage - - - - - - - - - - - - - Line of Credit - - - - - - - - - - - - - Taxes - - - - - - - - - - - - - Total Other Expenses 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 16,014 Net Income (309) 11 (1,823) (3,410) (3,873) (3,441) (3,441) (2,333) 889 1,337 (1,883) (3,644) (21,921)<br />Projected Income Statement - Year Three<br />Jan.Feb.MarchApr.MayJuneJulyAug.Sept.Oct.Nov.Dec.TotalsIncomeWorkaholic 5,200 800 4,000 968 968 968 968 968 968 4,356 1,936 1,452 23,552 Regular Joe/Jo - 5,082 2,541 2,541 1,271 847 847 1,271 3,812 3,812 1,694 1,694 25,410 Flexible Flyer 3,630 3,630 1,815 1,513 1,815 2,723 2,723 3,933 5,445 3,933 3,630 1,513 36,300 Moonlighter 2,323 2,323 1,162 1,162 1,162 1,162 1,162 1,162 2,323 2,323 1,162 1,162 18,586 Weekender - - 5,808 6,292 3,388 3,388 2,904 2,904 2,904 2,904 2,904 2,904 36,300 Daily Workaholic - - 61 121 182 242 363 424 484 545 605 605 3,630 Daily J - - - 121 182 242 363 424 484 545 605 605 3,570 Hourly Joe/Jo - - 36 73 109 145 218 254 290 327 363 363 2,178 Member - - 73 145 218 290 436 508 581 653 726 726 4,356 Total Income 11,153 11,835 15,495 12,935 9,293 10,007 9,983 11,846 17,291 19,396 13,625 11,023 51435085725 153,881 Cost of SalesWorkaholic 2,587 199 1,791 438 438 438 438 438 438 1,970 876 657 10,706 Regular Joe/Jo - 1,888 944 944 472 315 315 472 1,416 1,416 629 629 9,438 Flexible Flyer 726 660 330 275 330 495 495 715 990 715 660 275 6,666 Moonlighter 660 600 300 300 300 300 300 300 600 600 300 300 4,860 Weekender - - 2,627 2,846 1,532 1,532 1,313 1,313 1,313 1,313 1,313 1,313 16,418 Daily Workaholic - - 15 31 46 62 92 108 123 139 154 154 924 Daily J - - 17 34 51 68 102 119 136 152 169 169 1,016 Hourly Joe/Jo - - 17 34 51 68 102 119 136 152 169 169 1,016 Member - - 22 44 65 87 131 152 174 196 218 218 1,307 Total Cost of Sales 3,973 3,347 3,365 1,957 1,540 1,547 1,547 1,925 3,444 4,701 2,465 1,861 52,351 Gross Margin 7,180 8,489 12,130 10,978 7,753 8,459 8,435 9,921 13,847 14,696 11,160 9,162 101,530 Salaries and WagesOwner's Compensation - - - - - - - - - - - - - Salaries 3,094 3,094 3,094 3,094 3,094 3,094 3,094 3,094 3,094 3,094 3,094 3,094 37,125 Full-Time Employees - - - - - - - - - - - - - Part-Time Employees 565 565 565 565 565 565 565 565 565 565 565 565 6,786 Independent Contractors - - - - - - - - - - - - - Payroll Taxes and Benefits 321 321 321 321 321 321 321 321 321 321 321 321 3,849 Total Salary and Wages 3,980 3,980 3,980 3,980 3,980 3,980 3,980 3,980 3,980 3,980 3,980 3,980 47,760 Fixed Business ExpensesAdvertising 265 265 265 265 265 265 265 265 265 265 265 265 3,183 Car and Truck Expenses - - - - - - - - - - - - - Commissions and Fees - - - - - - - - - - - - - Contract Labor 159 159 159 159 159 159 159 159 159 159 159 159 1,910 Credit Card and Bank Charges - - - - - - - - - - - - - Customer Discounts and Refunds - - - - - - - - - - - - - Dues and Subscriptions - - - - - - - - - - - - - Entertainment - - - - - - - - - - - - - Insurance (Liability and Property) - - - - - - - - - - - - - Internet - - - - - - - - - - - - - Legal and Professional Fees - - - - - - - - - - - - - Office Expenses 424 424 424 424 424 424 424 424 424 424 424 424 5,092 Postage and Delivery - - - - - - - - - - - - - Rent (on business property) 1,082 1,082 1,082 1,082 1,082 1,082 1,082 1,082 1,082 1,082 1,082 1,082 12,985 Rent of Vehicles and Equipment - - - - - - - - - - - - - Repairs and Maintenance - - - - - - - - - - - - - Supplies - - - - - - - - - - - - - Telephone and Communications - - - - - - - - - - - - - Travel - - - - - - - - - - - - - Utilities - - - - - - - - - - - - - Total Fixed Business Expenses 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 23,170 Other ExpensesAmortized Start-up Expenses 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 1,036 12,433 Depreciation 298 298 298 298 298 298 298 298 298 298 298 298 3,581 InterestCommercial Loan - - - - - - - - - - - - - Commercial Mortgage - - - - - - - - - - - - - Line of Credit - - - - - - - - - - - - - Taxes - - - - - - - - - - - - - Total Other Expenses 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 16,014 Net Income (65) 1,243 4,885 3,733 508 1,214 1,190 2,676 6,602 7,450 3,914 1,917 (39,184)<br />DollarsAnnual Sales Revenue$118,560 Cost of Sales43,527Gross Margin75,033Salaries and Wages45,046Fixed Operating Expenses25,421Total Fixed Business Expenses70,467Breakeven Sales Calculation70,46763.29%Breakeven Sales in Dollars$111,346 <br />Break Even Analysis<br />-25906822363706Proof of Concept<br />OurSpace will be one of a growing list of coworking spaces across the United States. There are several models that have been effective in creating critical mass to revolutionize their communities. Samples of coworking spaces include:<br />Citizen Space – San Francisco, CA<br />www.citizenspace.us<br />Dubbed a ‘nice place to work’ in San Francisco, for its relaxed atmosphere, Citizen Space has become a hot commodity in the bay area. Frequented by a broad range of business consultants, web developers and e-commerce retailers, Citizen Space has stockpiled a number of shared resources that range from community furniture to free water. In return, space users, or ‘groovy cats’ as they are known, are asked to promote the values of collaboration, openness, community, accessibility and sustainability. <br />CubeSpace – Portland, OR<br />www.cubespacepdx.org<br />CubeSpace is an innovative workspace community located in downtown Portland, OR. The space, started by a nonprofit consultant and a rabbi, provides users with workstations, meetings and ‘big office’ amenities. CubeSpace is a unique entity, as they offer a cube to all workers. Members can choose between a phone cube, with a 24-button professional phone that has access to voicemail, or a quiet cube. CubeSpace works with a number of offer its clientele access to numerous business networking and educational events, including workshops on business law.<br /> <br />Office Nomads – Seattle, WA<br />www.officenomads.com<br />Office Nomads was founded to by entrepreneurs who wanted to connect with others, yet work on independent projects. Utilizing the theme “individuality with isolation” the 6,000 square foot space allows the independent or freelancer an atmosphere of productive, commutative and cohesive unit. This shared office unit attracts several users throughout the region, with an average of thirty users of any-given day, from a wide variety of backgrounds including the arts, technology and commerce. The factors of space, opportunity and uniqueness, has made Office Nomads a designated “Hottest 14” by the Seattle Metropolitan Magazine.<br />In Good Company – Manhattan, New York City, NY<br />www.ingoodcompanyworkplaces.com<br />In Good Company is the premier workspace for New York City women. Space users include women from a broad range of spectrums including health, tech, entertainment, consulting and beauty, whether they are just starting their companies to those who have been in business for more than 20 years. Members are offered ‘three essential elements <br />every successful business needs: productive workspace, powerful connections and effective ideas’. Centrally located in Manhattan, In Good Company’s members work in a <br />loft-style office that has endless coffee and a comfy lounge, in addition a conference room for client meetings. Members receive professional development through a wide-variety of mediums including strategy sessions, business building seminars and networking functions. <br />Independents’ Hall - Philadelphia, PA <br />www.indyhall.org<br />Indy Hall, formally known as Independents’ Hall, was opened in 2008 because “working alone sucks.” Entrepreneurs Alex Hillman and Geoff DiMasi created a workspace designed around the office with the inclusion of café atmosphere. Located in the Old City section of Philadelphia, Pa, it builds upon the notion of innovation and idealism. To capture the ongoing energy, Hillman and DiMasi has teamed together with a number of a professionals in technology and communications to offer ongoing education workshops on a wide variety of subjects from hacking, videography and failure. <br />Impromptu Studio – Des Moines, Iowa<br />www.impromptustudio.com<br />Impromptu Studio, downtown Des Moines, Iowa, is a next generation of shared professional workspace. Founder Dan Shipton built the space around his business Redship Technologies. The relaxed environment provides plenty of space for all technological aspects of his business, as well as independent professionals of Des Moines. Studio memberships include 24 x 7 access, storage and meeting rooms. Most importantly the space fosters collaboration, and allows entrepreneurs to retain their individuality, while leaving isolation behind.<br />Office Space Coworking - Akron, Ohio<br />www.officespacecoworking.com<br />Office Space Coworking, downtown Akron, Ohio, caters to progressive thinkers who will provide “the infrastructure for even more growth and more entrepreneurial activity.” The recently opened site provides telecommuters, small business owners, programmers, appraisers, Web developers with the traditional coworking space resources of furniture and coffee, as well as a professional receptionist and bookkeeper. As the site develops there are plans for a broad range of additional services, including travel arrangements and on-site childcare.<br />