We believe the space can pay for itself. The Narrows is a sustainable organization because, in theory, the members’ payments cover the cost of the resources that the organization provides. While Melissa and Brad technically own it, our objective isn’t to make a living, but just for the resources and opportunities to sustain and perpetuate themselves.
When we set our prices last year, we were making some guesses about what our sustained costs would be. After keeping the doors open for a year, as it turns out, some of our estimates were too high.
Don’t worry, most of our time last year was spent developing the space, with very few members and very little income. We actually spent over $10,000 of our personal funds to make the space and these resources available to the community. Jesus life and words inspire us to give our lives for our community, and we think that includes our money too, so we’re happy to do that. But not being rich people ourselves, we’re looking forward to transitioning into the long term sustainable model which we envisioned.
We are starting to develop some of those revenue streams, and our hope is that this price decrease will further cement our membership base. If we have 12 solid members paying that membership rate, in addition to our private studios, The Narrows can keep the bills paid and thrive. Any additional members or special event income can be used to develop new tools and resources, and to reinvest in the community.
Our goal is for the members to pay the total cost of what they’re receiving, as a group. So we’ll re-evaluate these figures again in the future and adjust accordingly. But these rates will be in effect at least through December 31, 2016.
If you’re interested in becoming a coworking or artist member of our community, please contact us. We’d love to show you the space and answer your questions. We believe that this solution provides all of the benefits of a private office or studio, and much more, at a fraction of the cost. All of our coworking and artist members have 24/7 access to the workspace.
We also presently have one private studio membership available for $150 per month. Contact us for details or to take a look.