Hypothetical Consulting Project – Co-Working Space essay

DescriptionCase Scenario:
There is an increasing trend of co-working spaces in New York City fueled partly by the technology boom. Co-working spaces are communal workplaces, which freelancers and small companies can use as workspaces, while sharing the space with any number of other freelancers and/or small companies. As part of the arrangement, many resources, such as office equipment and bathroom and kitchen facilities, are also shared.
“The main benefits ofthis kind ofsetup are camaraderie, knowledge-sharing, high energy, culture, and cost-sharing. For example, a software developer can walk to the other side ofthe office to talk to other software developers working on other projects and for other companies to talk about thorny tech issues. Same scenario can play out for other co-space occupiers that work in finance, legal, business/product development, marketing, etc. Basically, a co-working space occupier can get some of the benefits of scale without being at scale.”
Matt and Tony are two real estate entrepreneurs who want to capitalize on this trend and start a co- working space that fits 75 people. They are in talks with two office buildings to lease out the space. The first one is a building near the young and trendy Union Square area, which will be $40 per square feet per annum. The second building is in the SOHO/Chinatown area and goes for $30 per square feet per annum.Description Union Square China TownOperating Cost per Annum $41,250 $35,000Revenue per Annum $55,200 $47,050Surplus per Annum $13,950 $12,050Payout Period 38 Months 34 MonthsNet Cash Generated in 10 Years $1,149,000 $1,042,154Your Task:1. Make bullet-point list of relevant considerations and factors that would contribute to, and help you in reaching & making a decision
Make a list of factors that might differentiate one location from the other?
Make a list of additional information would you have loved to have.
Based on your responses in (1) & (2) above, which building/location would you select?
• In a different page justify your preference
Approximate price: $22
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