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I want to start a coworking/coliving space

Coworking spaces are everywhere in Nigeria but same cannot be said for coliving spaces. The startup cost alone is challenging and real estate companies seem to have trust issues when I come up with my proposal.

I am looking for someone who sees the same prospects as I do and can share ideas with me on how best to begin small but effectively.

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4 answers

Hola Aidee,

los cambios siempre son duros, pero alguien tiene que pagar el precio, en este caso te tocaria a ti, te recomiendo que te vuelvas una gran líder en este tema, aparte de esto, tendrás que tener al menos el espacio para que comiences de una vez, dando el ejemplo de que si se puede.

Report Andrew's answer

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Hi Aidee!

I have worked with so many others who want to start a business, but the startup steps can be overwhelming, especially when you are not an all things business startup expert. You stated that you believe real estate providers to be mistrusting of your proposal. Why do you believe they mistrust what you present to them? Have you ever probed and inquired with them when you present your proposals?

If you would like to discuss in further detail, you can contact me. I wouldn't mind brainstorming with you.

Thanks. Crystal

Report Crystal's answer

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Heyy Aidee, it is best to present a proposal with clarity of objective and outcome, compelling story to keep them excited and credible team to make it happen. I assume you've studied the market demand of co-working + co-living space in Nigeria. I believe community is the most crucial element in this business, besides lifestyle amenities and high speed internet connection. Be able to demonstrate to build a strong collaborative community, where entrepreneurs can help each other to succeed is key. Ok, so one of the way to establish collaboration that can scale, is to find out how much per square foot a real estate can make. Example, today the real estate company can make USD2 per square foot via rental. If you can give them USD4 per square foot by letting you to operate the space, can be an entry point for a negotiation with them. Good luck!

Report Mohd Atasha's answer

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Your question tells me you're going to real estate people with little to no capital and expecting real estate people to give you money or property to test a concept.. if you're getting the look that says "you're out of your mind" that's correct. Real estate person is the LAST person you should be sharing ideas with. What you need are angel investors and or loans capital enough to solidly test the concept or at least get a property with sublease options and you do some of renovation to make it work. To a real estate person money talks. So if you actually had the money they wouldn't be hesitant at all. They would take it and not ask questions as long as they're paid.

Take a step back. Realize what you need to do or who you need to talk to to accomplish your goal and then establish a full business plan with everything from monthly breakeven costs, pre marketing campaign, budget with supporting evidence, What should happen if concept fails, exit strategy, etc.

At that point people may take you seriously.

Best of luck!

Report Camron's answer

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