Add-ons Meeting Rooms Preparing Your Flexible Office Space For A New Normal Webinar Series #1: Ingredients For Virtual Offices May 14, 2020 Webinar #1 Recording https://vimeo.com/424949409/6325471184 Webinar #2 Recording: https://vimeo.com/424952919/bec4fe119f Private Offices PhoneAnswering Mail Services
What is a Virtual Office? A VO is a product that gives you access to a wide range of remote workplace services, provided by or connected with a flexible office location, on a subscription basis.
The Ingredients Meeting Rooms Add-ons Phone Answering Mail Services Private Offices
Why A Virtual Office For Clients • Establish a local business identity • Utilize a professional business address • Better quality of service than PO box or home address • Establish multiple branch offices • Quick & easy to setup (inexpensive!) • Useful for any business type
VO Clients Demographic Survey VO - What industry? VO What industry? (pick one that seems closest) Other (please (pick one that seems closest) indicate), 11.7% Staffing, 1.4% Legal Firm Education, 4.1% Consulting Consumer Accounting Firm Products/Retail , 2.4% Financial firm Healthcare/ Medical, Real Estate Legal Firm, 37.8% 5.5% High Tech Marketing/Social Media, 1.7% Marketing/Social Media Healthcare/Medical High Tech, 13.7% Consumer Products/Retail Consulting, 10.7% Education Real Estate, 6.5% Staffing Accounting Firm, Financial firm , 4.5% 0.0% Other (please indicate)
Why A Virtual Office For Operators • Uses existing infrastructure to generate more revenue • Only need existing staff to get started • Demand is growing • Easy & Very profitable
VO: Break Down by Type All PAC Centers (17): Average Revenue per VO Contract 20 Credit Bundle Other Stand - Alone 20 Credit Bundle 1% 1% Add - On Other Mail Plan Mail Plan (Plus) 4% 20 Credit Bundle Add - On On-The-Go 20 Credit Bundle Stand - Alone V-Office Plus V-Office V-Office Plus Total all Centers Mail Plan (Plus) 27% 12% 350 300 250 200 Mail Plan 24% V-Office 150 18% 100 On-The-Go 13% 50 BREAKDOWN OF TOTAL REVENUE BY PLAN TYPE - APR 0 2020 (17 LOCATIONS) Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 COMPANY CONFIDENTIAL - Do Not Copy 6/1/20 8
Mail Services From Partners Resources page on CloudVO
Cost of Doing Business – Direct Costs We captured how our local staff spends their time, for a full month, for each type of clients, in seconds, for each individual task performed during the day Number of Plans March 2019 Total FT Plans 316 VO Plans 918 CW Plans 1 COMPANY CONFIDENTIAL - Do Not Copy 6/1/20 12 WH Clients 30 Total 1265
How much mail do they get? In an average week: • % of mail VO clients who do not receive mail: 69.9% • Average Mail instances/Client: 0.6 Time spent processing mail per instance: • Average: 59.6 seconds (less with digital mail) • 10 th percentile: 20.0 seconds • 90 th percentile: 144 seconds • Highest: 760 seconds
Cost of Doing Business – Direct Costs COMPANY CONFIDENTIAL - Do Not Copy 6/1/20 14
Cost of Doing Business – By Member Type Note: Indirect Costs are any activity that benefits the entire center and cannot be allocated to any individual client (e.g. Making coffee, cleaning lounge) COMPANY CONFIDENTIAL - Do Not Copy 6/1/20 15
How Profitable Are Mail Plans? Per Mail Plan Sold $/Month Margin 150 Mail Plans Mail Plan Retail Price ($69 + $15 add-on) $84.00 100% $12,600 Local Advertising or Channel Cost (25%) ($21.00) 25% ($3,150) Payroll Cost ($8.36) 10% ($1,254) Profit $54.64 65% $8,196
How fast can you scale? • Road to 100 could be 2 or 3 years • Incremental demand on resources for each new client is low, • Market locally and use channels • Start adding part-timer at 100+ plans
Adding Phone Answering • For those who can’t afford to lose a call • To quickly recall a person, situation, or case (call screening) • For a stronger local business identity (local area code) You can do it yourself, or outsource to CloudVO Live Phone Answering Personalized greeting Suggested Your cost with Blind transfer, VM, voice to email Margin retail CloudVO Standard $99 $26 74% Executive $149 $44 70% + Screening, patching, & announcing the call, unlimited minutes, up to 150 calls/mo
Adding Meeting Room bundle • You must monetize your meeting rooms • You must have at least 2 dedicated meeting rooms + 2 day offices • ~18% of PAC revenue generated in less than 10% of the space 16-hour Subscription Package Suggested Average Retail Price Usage Tier 1: NYC, San Francisco, $199 LA, Boston, Class A Tier 2: Chicago, Denver, 3.9 hours $169 Seattle, Portland, Dallas Tier 3: Smaller town and $149 suburban areas
Day Office What’s a day office? • Private office that can be booked by the hour, the day or the week • Dedicated if you have a high VO or meeting room volume • It can be any private office that happens to be available Who uses it: • Corporate users • Attorneys • Consultants • CloudTouchdown Pass users
Putting it All Together
Go to CloudVO.com List info
List
Questions? Partners@CloudVO.com
Flexible Offices In the New Normal: A New Recipe Webinar Series - #2 May 21, 2020
Even DMV… Last Webinar Keith explained why VO is all the rage these days Today Even DMV heard the message!!!!
The Circle of Workplace Services New job Full Time Visitors morphs Relocation Office/Coworking Into members Meeting Rooms Virtual Mail De-densification Day Offices Phone Answering Supplement WFH Business Identity Virtual Not just Branch office Office Virtual Mail
New Go-to-Market Approach During Stay-In-Place • Pushed “Virtual Office” • “Flexible Office” vs “coworking” • Changed PPC Upon re-entry: • Health & Safety protocol • Support remote work • “Private” & “Safe” • Online purchases
Online Purchases Of VO Plans
Online Bookings of Meeting Rooms On the PAC Website
Online Purchases Of Full Time Offices
What must change
Communicate with Your Landlord(s) • Communicate early and regularly • Confirm in writing (email fine) • Be transparent • Be positive about the future but no blue sky • Be tough too if necessary
Communicate with Your Members • Communicate early and regularly • Deferral over Discounts • Assume that all your members will learn about your special discounts to any one member • Be confident that their office will be re-let if they leave • Remind them you also have to pay rent
Full Time Members– What must change • Health & Safety Protocol • Lower density • Private offices • Enterprise-ready • Adapt
Marketing Strategies • Channels become more important – Understand their value • Brokers may be back • Consistent price strategies PAC: - Profitable for 15+ years • Benchmark your competition - We support remote work, mobility, • Be clear on your differentiators and distributed workforces - We are as safe as home - WE CARE s e u a l V e o r C r O u We Care
Customer Reviews Matter Google Customer Reviews - Average Rating Q1 2020 For All PAC Markets 5.0 400 4.7 4.6 4.5 350 4.3 3.9 4.0 300 3.5 250 3.0 200 2.5 150 236 reviews 296 reviews 2.0 9 reviews 1 351 reviews 100 1.5 50 1.0 0 Pac Industrious Regus Wework
Multiple Customer Reviews Matter Yelp Customer Reviews - Average Rating Q1 2020 For All PAC Markets 5.0 160 4.5 4.5 140 4.0 120 3.6 3.5 100 3.1 3.0 80 2.5 2.5 60 2.0 40 137 reviews 39 reviews 95 reviews 1 reviews 1 1.5 20 1.0 0 Pac Wework Regus Industrious
TrustPilot Reviews are the most credible….if you have at least 10 reviews Trustpilot Customer Reviews - Average Rating Q1 2020 For All PAC Markets 5.0 5,000 4.7 4,500 4.5 4,000 4.0 4.0 3.7 3,500 3.5 3,000 3.0 2,500 2,000 2.5 2.1 1,500 4,422 reviews Low 178 reviews 2.0 72 review 1,000 1.5 500 1.0 - Pac Regus Industrious Wework
Engage Local Celebrities in your Virtual Events
New Services Anything that provides Remote support • Digital Mail • Zoom Rooms • Language Boxes • Podcast rooms • Phone answering • Virtual Events Anything that improves health & safety
Go to CloudVO.com List info
List
Questions? Partners@CloudVO.com
Add-ons Meeting Rooms Flexible Offices in The New Normal: Get Ready for New Corporate Demand Webinar Series #3 May 28, 2020 Private Offices Partners Only PhoneAnswering Mail Services
Mark Zuckerberg CEO/Founder Facebook
Full Time Members– What must change • Health & Safety Protocol • Lower density • Private offices • Enterprise-ready • Adapt
What must change: Extreme Sanitation
Meeting Rooms – What Must Change
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