Question 1

1. What are the plans to make a profit as you are just breaking even? 2. How are you different that WeWork and how do you plan to succeed where they have failed?

Accepted Answer

Hello Tal!  Our proof-of-concept store broke even in just five months, but we have now been open for a year, have achieved profitability and established three strong and equal revenue streams including 1) Food & Beverage; 2) Day Passes and Membership; 3) Conference Room Rental.How is Parlay Cafe Different than WeWork or Regus?Most shared-workspace offerings are very large operations located in industrial or office buildings and "feel" like an office. Parlay Cafe outlets are located i...

Question 2

What are the prices? How much do you earn on this? I'm confused as it says you have 0 net profit.

Accepted Answer

Tal, please refer to page 10 in the Business Plan (available to download from our Wefunder portal) for our menu and pricing.  That covers pricing for food & beverage.  Day passes to the lounge are $10.00 each, or for those who come regularly memberships are available at $95- $295/mo. (higher dollar plans include conference room time, etc.  Conference rooms rent for $50.00/hour with discounts for members.The reason you see zero revenue is because we formed a new parent ...

Question 3

Hi, If your cafe / co-working space is smaller than those of Regus, how do you enforce social distancing? Also, what kind of returns did you provide to your investors in the previous venture(s) you mentioned? Thanks.

Accepted Answer

Hello Helen!  Our concept was always meant to feel more like the first class lounge at the airport rather than a co-working space, with a focus on the individual rather than groups.  So, our layout already had more spacing than a typical co-working space.  Most large co-working spaces such as Regus or WeWork rely heavily on individual or group office spaces, with the shared workspace as a secondary, or entry level offering.  For example Regus is primarily made up of o...

Question 4

Hi Don, Thank you for the reply. Social distancing technically means 6 feet apart from each other. I'm not sure I see that much distance between the chairs from the video, especially between the chairs at the conference table. How is this any different from a Starbucks store, ...

Accepted Answer

Hello again Helen!  The video footage was taken a while back - we are just completing a remodel where we have expanded the lounge area and re-arranged all the seating to allow for social distancing.  If you like I can send you a drawing of the new layout tomorrow - I don't see a way to attach it here, send me an e-mail address if you would like to see it.   Regarding the previous investors, it was just under four years from initial investment to the return.  Thanks He...

Question 5

Can you post the drawing of the new layout in an update on the campaign? that would allow everyone to see it

Accepted Answer

Andrew, yes great idea - I'm expecting a new version from our designer later today or first thing tomorrow and will post an update as soon as I have it - thank you Andrew!

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