Coworking spaces seem to be better “businesses” than incubators. Never mind that most incubators also double as coworking space. I clicked on this article that promised to give insight on how they are profitably run in Africa, but I came away feeling a bit hollow. I wonder if there aren’t any who can get into the actual logistics of coworking spaces. And not just for entertainment, but because I think we need more of these to spring up across the continent to cater to this generation of entrepreneurs and millenial workers. I know Lagos does. Hoping people like @dupemacaulay and @erik will weigh in.
Hmmm… I would probably not do justice to this but I could give it a try.
Here are the major costs - Rent, Internet and Power Supply. Other expenses are maintenance, salaries amongst other minor costs.
Major sources of income - For incubators (grants), for profit spaces - user subscription, consultancy, events, service provision amongst other things.
Depending on what model you decide to stick with, your membership subscription can either be high or moderate. Places like CapitalSquare probably focus more on membership subscription, CcHub doesn’t do that but they run consultancy services for private organizations and some other funds from service provision for startups at the incubation stage. Event spaces for rental are also a way they make money and then event sponsorships and partnerships for events like hackathons (British Council Culture Shift for example), DevParapo, the defunct Growth Academy and more.
Anyway, there is a lot more I am not saying, in terms of specific figures but the balance sheet evens out with profit too.
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