Are you interested in entering one of the hottest coworking markets in the US with a valuation of less than 2x profit?
We have a profitable space in Seattle that is ready to be handed over and taken to the next level. At 50% occupancy, there is a strong foundation and potential to rapidly increase profits. Right now, the space looks expensive at an 8 multiple, but we have a practical path to increase revenue by nearly $322,000 a year, bringing that multiple down to a 1.36.
Opportunity Overview
Current scenario:
PRO: Strong community
PRO: Established corporate ties
CON: Outdated floor plan
CON: Very little marketing
Steps to improve profits:
Step 1: Add 10 more offices, generating an additional $156,000 a year
Step 2: Double marketing to increase membership, generating $170,000 in revenue in offices
Step 3: Leverage corporate memberships
The Seattle space is over seven years old and it has an outdated floor plan with too much open space compared to what people are currently looking for. Due to personal issues, the current owner also hasn’t been unable to put much time into marketing the space. It’s a beautiful space with a strong community so it should be easy to fill. This is an ideal space for an existing chain to expand into or for an individual excited about coworking to
The space currently has a strong relationship with several Fortune 500 companies in Seattle with annual meeting room contracts. These memberships can be increased or the relationships can be leveraged as a foot-in-the-door for other locations in an existing chain’s portfolio.
Get the full profitability report
Get the full strategy report and see pictures of the space on the listing page. The market analysis describes how a new owner can maximize their investment and build off of the strengths of the existing space. This is report is available for free to all DenSwap account holders.
The coworking strategy report is created by one of DenSwap’s leaders in coworking feasibility studies. They have helped over 40 coworking spaces launch and develop growth strategies throughout the US.
