@Anthony_L & @Michael_C1 @Matthew_B
Thx so much for much needed feedback and experience. It’s really helpful to hear other experiences so as to be able to make informed choices. I’m feeling the above noted perspectives as well without question. It’s also helpful to see contributions regarding different business models ie. WeWork etc. @Michael_C1, do you have a go to business resource for keeping abreast of such info?
Not having a solution & interested in having the discussion, just to say that along with the exposure this business model provides, on some level it does dilute the gain being so widely compared to the competition & to be focused on the end of the line, consumer to platform income. Is there an in between solution? I recently received a notice that the avg income from a space listing similar to mine through these platforms was $600 a month. Clearly, no business can be sustained through such low numbers, (especially during difficult times). We all need at least that several times per week to survive, let alone profit.
Though I am not an expert, it does seem that web platforms in general are far more destructive to the middle man in so many independent businesses ie.) photo, artists, tech, developers, owner-renters, assistants, babysitters, and the list goes on), than say, a yellow pages listing would have been. I wonder how these platforms can innovate so that they along with us can be equally profitable? Maybe a shareholder option?
I agree we are owners of spaces, and although I hopefully can pivot as needed, it won’t be easy and I too may have to let my space go. : ( . Some people can make it through with the help of SBA loans and/or much bank behind them, the rest will close shop in a climate such as this. I guess that is the underbelly of capitalism.
I hope we hear from many more people on this platform to get a realistic cross section of how they weathered past challenges, & are handing current rough times to hear solutions or changes in the making. I’d love to hear when owners might feel they would be safe to offer rentals. I’m hoping to stay in the game on some level and it would be great to participate in and ongoing sharing of information. Thx to Peerspace for providing the community forum.
I’m also wondering how some of us NYC or regional peeps can come together. Who knows what will come of it. Please feel free to reach out if you are interested.