Which amenities and furniture are worth inspecting in a coworking space?
Look at what members use daily: desks, chairs, meeting rooms, phone booths, the kitchen, printers and the internet setup. Check condition, how much is owned or leased and what must be replaced soon. Worn items that members rely on reveal future spending.
Walk the space as a member would, at a busy time. Sit in the chairs, try the desks, book a meeting room and use the kitchen. Notice what works smoothly and what does not. Members judge a space by those small things, and so should you.
Then inspect the items behind the scenes. Look at the network equipment, wireless coverage, door access system, printers and phone systems. Ask who installed and maintains them and whether support contracts transfer. Ask for service records and any list of recent repairs.
Make an inventory. Furniture and equipment should be listed by item, age and condition, with a note on who owns each. Some pieces may be leased, borrowed or owned by a member. Find out which items are included in the purchase and which are not. Look at the signs of upkeep: stained carpets, wobbly chairs, burnt-out lights, scuffed walls. These point to deferred spending. Estimate with your accountant how much you would need to set aside to refresh the space. Also check safety items such as fire equipment and exits, and ask the landlord or an inspector what applies. Do not assume the seller has handled them.
Key takeaways
- Use the space as a member would, at a busy time of day.
- Inventory furniture and equipment by age, condition and ownership.
- Look for deferred upkeep and budget a refresh before you commit.
Related reading
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentEquipment valuation: How to do it
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