5508 Co-Working and Collaboration Exchange...5508 50th Street, Suite 1-A Tampa, Florida 33610 Tel....

5508 50th Street, Suite 1-A Tampa, Florida 33610 Tel. (813) 626-4926 Fax. (813) 626-695 /

The 5508 Co-working and Collaboration Exchange is designed to: (1) improve the local economy and individual self-sufficiency through education, entrepreneurshi p and employment , and (2) generate revenue for the ongoing services of the organization.

5508 Co-Working and Collaboration Exchange

Working together to make a difference!

5508 Co-Working & Collaboration Exchange

TABLE OF CONTENTS 1.0 Executive Summary .............................................................................. 1

2.0 Description of the Social Enterprise Venture ......................................... 2

3.0 Industry and Market Analysis ................................................................ 4

4.0 Marketing Strategy ................................................................................... 8

5.0 Management Plan ....................................................................................... 10

6.0 Operational Plan ................................................................................ 14

7.0 Social Return on Investment (ROl) ...................................................... 15

8.0 Financial Plan ............................................................................................... 17

9.1 Business Goals and Objectives ........................................................... 19 10. Supporting Documents............................... ........................Appendix

A. Product Validation Study B. Partnership Letters


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Executive Summary

The Tampa-Hillsborough Action Plan, Inc. {THAP) began in 1987 as a minority- based 501(c)(3) non-profit organization in Tampa , Florida, and is based upon the theme "working together to make a difference." The "new" THAP is a very different organization but with the same goals: to act as a catalyst for the elimination of disparities in economic and business development , education, health, and housing. The "THAP 5508 Co-working & Collaboration Exchange" (5508) located at 5508 501

St., Tampa , is the newest and most ambitious project to date. The purpose of the exchange is twofold: (1) to improve the local economy and individual self-sufficiency through education, entrepreneurshi p and employment, and (2) to generate revenue for the ongoing services of.the organization.

Developing education, entrepreneurship and employment opportunities will be accomplished through creating a fee-for-service membership in the new 5508 state of the art collaborative work space. The 5508 fee-for-services membership project will provide: (a) affordable work space, (b) business services, and (c) adult education to four distinct market sectors: virtual office employees in consultant, sales and/ or free-lance positions, new start-ups and entrepreneurs in a variety of professions and trades, current incubator members with good incomes in traditionally blue collar occupations , and the chronically unemployed and under-employed . The 5508 co-working project, funded through the fee-for-service monthly membership dues payments, fees for conference rooms and classrooms, and fees for educational offerings, will offer a great workplace location, business services, and educational offerings with excellent customer service. Virtual workers of all kinds can open a laptop and work at THAP 5508 instead of the local coffee shop where they will work alongside local residents who typically experience difficulty accessing mainstream resources. The 5508 exchange project will exist as a subsidiary of the THAP Group, and the current THAP CEO/ Executive Director Jeannette Bradley will serve as the director of the project with assistance from certified Community Real Estate Developer/ Executive Director Derrick Blue, and a team including a Membership Director, Director of Professional Development and Community Partnerships, and a Lead Customer Service Manager. The project will leverage multiple community, business, governmental , and institutional partners to provide business and educational opportunities for members. The proceeds from 5508 membership dues and adult educational programs will fund ongoing operations as well as the existing THAP social programs such as the PACER Educational Initiative, Minority Aids Initiative (MAI), and the energy-cost reducing Weatherization Assistance Program (WAP). The 5508 project furthers THAP's core values of "working together to make a difference," and to act as a catalyst for the elimination of disparities in economic and business development, education, health, and housing, while improving the local economy and entire East Tampa commun ity.


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1.0 Description of the Social Entrepreneurial Venture

The realities of the 21st century non-profit landscape are that, to continue to exist, non- profits must find ways to better fund their social programs for long term sustainability. Poor economies, decreased charitable giving, and shrinking tax bases often result in a cut-back of funding for social services just when people need them most. Social entrepreneurship increases the ability to fund the future of a nonprofit through a combination of earned income, charitable contributions, and public sector or foundational subsidies. The revenue obtained from the earned income is used to pursue the social objectives of the organization. The "5508 Co-Working & Collaboration Exchange" (5508) is a combination business incubator and co-working space. Business incubators are or · tions eared to speeding u the rowth and success o startu and earl sta e com ies, while co- wer ing spaces are s a space environments where individuals carry out their tasks and duties in a communal work space. THAP has been renting office space, and more recently, incubating businesses in the 5508 facility for over fifteen years. Currently, 22 businesses are enrolled in fee-for-service incubator membership, and more will be added as the building is renovated. The 5508 Co-Working project is a new soci I

trepreneur venture, and involves creating the fee-for-service co-working program in an existing site that 1s being renovated by the THAP subsidiary property owner Coastal Bay Properties. The 5508 Co-Working and Collaboration Exchange is THAP's social entrepreneurial project that focuses on: (1) improving the local economy and individual self-sufficiency through education, entrepreneurship and employment, and (2) generating revenue for the ongoing services of the organization. The 5508 fee-for-services membership project will provide (a) affordable work space, (b) business services, and (c) adult education as described in more detail below:

A. Work Space • Location - 5508 is conveniently located within minutes of 1-4, 1-75, and 1-275 near

the intersection of Hillsborough Ave. and 561 St. in east Tampa . • Monthly membership dues will allow 24-7 access to the facility with private and/

or public workspace with a ready-made collaborative environment. • Members may utilize classrooms and conference rooms for meetings and other

sessions in the facility when needed for-fee or as part of a membership package. • Co-working members can upgrade or downgrade membership if needed. • A program for the local residents, low-income, long-term unemployed or

underemployed will offer reduced rate monthly membership fee. • Cafe and for-fee daycare on site.

8. Business Services • State of the art technology. • Copying, faxing , scanning, and printing services. • Blueprint and 3-D printing. • Structured and organized networking activities. • Links to strategic business and community partners.


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• Assistance with access to financial services . • Marketing assistance and business communication training. • Intellectual property management. • Formal and informal "matchmaking" of services and service providers , employers

and employees. • Assistance with business fundamentals such as creating a business plan or

canvas, accounting and financial management counseling.

C. Education One-on-one , small group, classroom-type , and blended (online and in-person) for-fee instruction in these five categories: general business management and organization, marketing, finance, human resources, and specific skills. For example :

• Entrepreneurship 101 • Business Plan or Canvas Development • Strategic Planning with the End in Mind • Management and Operations • Business Ethics and Keeping Yourself Out of Court • Branding, Logos and Websites • Social Media • Sales • Productivity and Morale • Employment Law • Bookkeeping and Accounting • The Threes C's of Pricing: Costs, Customers, Competition • Taxation • Credit and Financial Literacy • Soft skills such as business etiquette, interview protocol, and workplace norms • Specific skills workshop topics offered by practicing professionals • Conferences and meetings.

The education program will also include formal and informal mentoring with advisory board members, and partnerships with higher education institutions.

The "5508 Co-Working & Collaboration Exchange" furthers THAP's core values of acting as a catalyst for the elimination of disparities in economic and business development through offering workspace , business services , and education as a fee-for- service membership to 5508 members in the larger Tampa community, and at reduced price for struggling East Tampa residents. The organization will market 5508 co-working membership to free-lancers , consultants , sales professionals, entrepreneur ial ventures , new or struggling small businesses, as well as to chronically under-employed or unemployed individuals.


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2.1 Industry and Market Analysis

Industry Positioning

The 5508 project fits into two separate yet complimentary industry categories: co- working and post-secondary adult professional and workforce development.

There are fewer than 20 entities in the Tampa Bay area that offer business incubators or co-working spaces; however not one offers comprehensive co-working services to a diverse population in East Tampa.

Well-equipped co-working spaces typically include essential state- of-the-art office equipment such as printers, fax machines, scanners, and wireless hi-speed Internet access. In co-working, workers typically occupy an open space, use their own cell phones and laptops to conduct business, and utilize smaller private areas for meetings or phone calls. Most co-working spaces offer all services as an inclusive package, with amenities such as meeting rooms built into the price. Other revenue sources include daily membership fees, classes or events, merchandise, public support services, fixed phone lines, commissions, rental of private offices, and even the sale of art from the in- house gallery. In co-working, there are opportunities for collaborating, networking, and mentoring with other independent professionals in these spaces. Thus far, research shows 40% of coworkers work daily, 19% work three to four times each week , 16% come in once or twice a week, and the remainder drop in a few times each month. Just over half of all users (54%) have 24-hour access, 31% work during traditional office hours, and the remainder works a limited number of days per month. Options such as half-day or evening use are unpopular, with less than 1% of respondents utilizing such arrangements .

According to Bloomberg Businessweek , a report from the Institute for the Future cites co-working spaces as "the trend to watch in the next decade." The report's lead author, Steve King, says the increasing popularity of co-working facilities reflects the increase of one-person businesses as well as a broader fluidity between virtual I online and real- world communities. King also cites the importance of social networks and collaboration for small business owners, and while virtual offices provide many of the same services as co-working spaces, the biggest difference between the two is the opportunity to collaborate. For example, a freelance writer can collaborate with a freelance web developer or designer to create content for a site. That opportunity may not be available if not for the co-working space connecting them together.

The Grind, NYC.


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Since September 2012, several distinct co-working spaces have opened their doors in the Tampa Bay community. Co-Work Tampa, in Tampa, charges between $57 and $147 per month, depending upon the amenities. Tampa WAVE , an exclusively "tech" co-working space in downtown Tampa , charges $15 per month or $150 per year. Co- Creative, in St. Petersburg, offers co-working for $99 per month with office space at $299-499 per month. The memberships at the elite Commerce Club at the Tampa Oxford Exchange begin at $99 per month. The 5508 Co-Working services also fit in to the industry that offers adult professional development and events. Colleges and universities like Hillsborough Community College (HCC), University of South Florida (USF), and University of Tampa (UT) are important stakeholders in the post-secondary continuing education and workforce development education arenas. Career Source Tampa Bay and the local school district, Hillsborough County Public Schools (HCPS), provide training and skills development for the local workforce. Non-profits , such as The Nonprofit Leadership Center , offer classes and courses in non-profit governance and other topics. The private sector, including individual private consultants, work with an ample variety of adult professional development course offerings for professional skill, intellectual enrichment , or hobby.

The 5508 Co-Working Professional Development department does not intend to compete with these well-known and successful institutions. Instead, those organizations will be used as partners to create course offerings at the 5508 site. Those course offerings will be held in the classrooms at the 5508 site for members and non-members in a shared fee-for-service arrangement. The 5508 site can serve as a satellite office for partner organizations and will provide a revenue stream to fund THAP social ventures.

Market Analysis: Segmentation While existing Tampa Bay co-working spaces cater to a young, affluent, "millennial," tech-driven sector, the "5508 Co-Working & Collaboration Exchange" will offer a co- working and education environment to a more diverse group in four distinct sectors: virtual office employees in consultant , sales and/ or free-lance positions, new start-ups and entrepreneurs in a variety of professions and trades, current incubator members with good incomes in traditionally blue collar occupations, and the chronically unemployed and under-employed, all who may reside in areas extremely accessible to the Hillsborough and 561 St. area of Tampa - East Tampa , Seminole Heights, Temple Terrace, New Tampa, Brandon/ Valrico/ Riverview, USF university area - or, of course, any other individual or business who would like to utilize the facility and services.

1) Virtual office employees : Sales and/ or free-lance professionals can alleviate the loneliness, lack of connection, and work-life balance problems that sometimes come from work at home:

2) New start-ups and entrepreneurs : New business owners of all kinds, from tech start-ups to non-profit consultants , can participate in the industry agnostic co- working space, take or offer courses, and hold meetings in the conference rooms at low cost.

3) Current incubator members: There are 22 existing THAP 5508 business incubators on site, and the space allows expansion for up to 88 incubator


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members. As part of the incubator program, members will have an agreement to complete prescribed courses before "graduating" from the incubator program.

4) The chronically unemployed and under-employed: Local residents without resources can interact and network, participate in educational offerings, and gain skills for employment at reduced membership fees.

Virtual Office Employees According to the Tampa Bay Partnership (TBP), the top five industry "super sectors" in Tampa Bay are: Trade, Transportation, and Utilities; Professional and Business Services; Education and Health Services; Leisure and Hospitality; and Financial Activities. Three of those "super sectors" in the Tampa Bay area - Professional and Business Services, Education and Health Services, and Financial Services - employ a large number of professionals who are considered virtual teleworkers , making virtual office workers a viable market in the Tampa Bay area.

Global Workplace Analytics , a firm that researches mobile work , workplace flexibility and other emerging workplace strategies, estimates that, nationally, as many as 20 million employees telecommute at least once a month, and 3 million do so once a week or more. The firm's research demonstrates that the typical virtual worker (does not have a defined office) is approximately 49 years old, college educated, and is in a salaried professional or managerial role work ing in management, sales, professional, or office occupations. Over 75% earn $65,000 or more, putting them in the upper 20% of earners. Virtual telecommuting grew by 79.7% between 2005 and 2012, and that does not include people who are self-employed and working from home.

However, there are drawbacks to telecommuting . Forbes describes that isolation, not feeling connected , loss of clear boundaries between work and home, accomplishments being harder to showcase , and lack of discipline and drive all can impede virtual work. A co-working space can provide a solution for those drawbacks.

New start-ups and entrepreneurs Forbes claims that Tampa is the number two area in the country for young entrepreneurs. Local government and a variety of organizations are driving the push for innovative and entrepreneurial ventures, resulting in an "entreprene1Jr ial ecosystem" that is gaining steam in Tampa Bay. Members of the "ecosystem" meet regularly at scheduled events to network and "pitch" ideas for new ventures . The Tampa Bay Innovation Alliance, HCC entrepreneurship program, Florida Next, USF CONNECT, and Tampa Bay WAVE are just a few of the organizations that are supporting a strong local entrepreneurial support system. New entrepreneurs often lack the financial capital required to rent an office space , hire administrative assistance, or participate in professional development. The 5508 co-working space provides a low cost option for beginning a small entrepreneurial venture in close proximity to all major neighborhoods in the Tampa Bay area.

Current incubator members Also at 5508 N. 501

St. are individual, office-type spaces for 88 small businesses in the THAP 5508 Incubator space. THAP 5508 Incubator space currently has 22 "business incubators" (developing small businesses) on site in a complimentary arrangement.


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There is space for a total of 88 business incubators , and that space will be renovated as incubator members join the collaborative. These small business owners will provide an additional customer base for the business services and educational offerings in the co- working space.

The chronically unemployed and under-employed While there are strong opportunities in the professional and entrepreneurial sector, the HCC Workforce Development Scan in 2013 demonstrates that overall, 44% of current Hillsborough County employers note there is a current shortage of qualified job candidates due to missing skill sets in applicants, including a missing work ethic (showing up on time, showing up at all, providing a full day's work) , professionalism (dress, attitude, interaction with others), missing critical thinking and technical skills, or inability of the applicants to pass background checks or drug tests .

East Tampa, situated between downtown, the Port of Tampa and the University of South Florida, has traditionally been an underserved and high-poverty area of the metro Tampa region. The City of Tampa statistics substantiate that status with designating East Tampa as an official Community Redevelopment Area (CRA). The Hillsborough County Atlas details that as of 2010, the per capita income for the neighborhood was $11,133, with about 33% of the population well below the poverty line, including 47% of those under age 18. In total, 16,355 people and 5,565 households reside in the neighborhood with 10% White, 84% Black or African American, and 6% Native American , Asian, and other/ two or more races. Hispanic or Latino of any race are 11% of the population.

So, while researchers and advocates point out the super sectors and entrepreneur ial possibilities in Tampa, a large portion of local residents are getting left behind in the global economy due to lack of hard and soft skills for employability, lack of formal education credentials, lack of informal access to well-resourced populations who can link residents to employment, and lack of transportation to regional work centers. Thus, in Tampa, there seems to be a large "gap" between key sectors of the population that the 5508 project can address. Because the 5508 Co-Working and Collaboration Exchange will serve a combination of virtual office workers, entrepreneurs (including current incubator members) , and the chronically unemployed/ under-employed in East Tampa, the project will help to bridge a gap among key market segments.


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3.0 Marketing Strategy

Objectives The objectives are to obtain a diverse base of co-working clientele who will pay a monthly membership fee, and who will also utilize both free and for-fee educational services, events, conference rooms, classrooms, cafe and daycare.

Positioning: Market Analysis Product Validation Product validation is the process of ascertaining whether a product idea will be successfully adopted in market. Product validation helps avoid spending time and money building something nobody wants. THAP staff, with the assistance of a local PhD- level Entrepreneurship professor , created and administered a product validation study. The purpose of the product validation study is to determine whether potential consumers in a locale will actually use the proposed product or services. The Co-working Product Validation Study was composed of survey questions designed to calculate demographics (gender, age, education, and profession) as well as questions relating cific industry (co-working) use. The survey was administered to a random sample articipants and conducted electronically . Participants in the survey consisted of 40% males and 60% females of various occupations. The age range was 36% 20-29, 18% 30-39, 18% 40-49, 14% 50-59 , and 14% over 60. The majority had earned a college degree, with only 7% having a technical education and 14% with some college. The remainder had a Bachelor's degree (18%) with 18% having some graduate school, 36% with a Masters, and 10% with PhD/ JD education credentials. An extremely large percentage indicated they would (41%), or maybe would (48%) use a co-working facility. Only 11% indicated they would not use such a facility . More information, including expected amenities and price willing to pay are shown in tables in Appendix A.

Services In addition to co-working services , THAP 5508 will offer a both rented out to business owners/ incubators and offered to members for-fee. According to the Product Validation Study, potential co-workers would expect wi-fi, printers, copiers, conference rooms, classrooms, private meeting areas, educational offerings and educational events. Only about 37% of the respondents would use administrative services such as for-fee copying and printing completed by an associate.

Promotion Promotion of the 5508 co-working project will be conducted primarily through no-cost informal networking in the local "entrepreneurial ecosystem," free community events at the site, partnership educational offerings at the site (HCC), press releases for events, and through social network, social media, and social media targeting advertising.

THAP 5508 staff have begun networking and interacting with the Tampa "entrepreneurial ecosystem" and attending multiple events in the area. HCC officials have visited the site and expressed interest in partnering for certificate programs, and


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possibly degree programs. Fundraising events are being scheduled for November 2014 ("Founders' Reception") and May 2015 ("Joes and Pros Barbeque Cook-off ').

Social network advertising and social media targeting describe forms of online advertising that focus on social networking sites. Social network advertising is a method of optimizing social media advertising by using profile data to deliver advertisements directly to individual users. Social media targeting refers to the process of matching social network users to target groups that have been specified by the advertiser .

One of the major benefits of advert ising on a social networking site is that an organization can take advantage of the users' demographic information and target ads appropriately with age, gender, interests, and location. Social media targeting combines current targeting options (like gee-targeting , behavioral targeting, socio-psychographi c targeting, etc.), to make detailed target group identification possible. With social media targeting, advertisements are distributed to users based on information gathered from target group profiles.

Thus, ads can be created and targeted for virtual office workers or entrepreneurs in the Tampa Bay area zip codes with, for example, an electronic coupon for a free co-work ing visit, or an enrollment form for a workshop or conference. This type of advertising, at extremely low cost, will assist in driving traffic to a newly revamped THAP website.

Pricing The Product Validation Study and analysis of current pricing structure in other co- working spaces in the Tampa Bay area led to development of a compet itive pricing structure. Membership is open to the general public and is available at varying levels based on monthly dues:

Basic co-working membership $79

Co-working and collaboration (includes conference room 1 hr. weekly) $99

Co-working, Conference, Classroom Deluxe Includes conference room and classroom

$169

Discounted rate (supplemented with grant/ foundational dollars) $20

Daily $ 10

Fee-sharing for independent classroom rentals (example: consultant provides workshop @$99 . Consultant - $60, THAP - $39)

60%-40%

Events Priced individually

Non-profits and government events Priced individually


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4.0 Management

The Tampa Hillsborough Action Plan, Inc. (THAP) is a 501(c)(3) organization with 501 (c)(3) subsidiaries $ynergy Health (health) and C_Q_astal Bay Properties (energy services , housing and properties). Coastal Bay Properties (CBP) owns the property at 5508 N. 501 in Tampa , and will be providing all renovations to the building under the direction of certified Community Real Estate Developer/ Executive Director Derrick Blue.

THAP is governed by a Board of Directors and managed by a Chief Executive Officer (CEO). Each THAP subsidiary is also governed by a Board of Directors with expertise in the respective arenas. Under the general umbrella of THAP, Inc., there are Education and Economic Empowerment initiatives , as well as shared services for all subsidiaries. The 5508 Co-working and Collaboration Exchange, as a THAP Economic Empowerment initiative, will be managed by a team of dedicated professionals who are well-qualified and experienced in their chosen field.

CEO/ Executive Director Jeannette Bradley Reporting to the Tampa Hillsborough Action Plan (THAP) Board of Directors, the Chief Executive Officer (CEO)/ Executive Director (ED) has overall strategic and operational responsibility for staff, programs, expansion , and execution of its mission. The CEO/ ED supervises and monitors staff, engages board members, committees, alumni, partnering organizations, volunteers , and funders including granters; and develops, maintains, and supports the Board of Directors while serving on each committee . Ms. Bradley has served as the CEO/ ED for the past year after assisting the organization as a Special Assistant to the Board for two years. She has extensive experience in Human Resources (HR) management , with almost ten years as Director of HR, Canadian Pacific (CP) Ships, Ltd. (formerly Lykes Brothers Steamship and now Hapag Lloyd), where she performed HR functions for 4000 employees, as well as five years on the Senior Management Team as the Director of HR at Tampa General Hospital, responsible for 3500 employees. She has also served as Director of Social Services for Florida Camelot, a residential treatment center for Children in Land 0 Lakes, FL. More recently, for the past ten years, she has concentrated on work as an independent HR Consultant and community-based Life and Academic Coach partnering with parents and school administrators in low performing schools . Ms. Bradley has an AA degree from Hillsborough Community College, a bachelor's degree from Florida State University and is currently completing the Graduate Certificate in Nonprofit Management at the University of Tampa. The CEO/ ED position is a shared services position funded through existing funding sources. Ms. Bradley will monitor and supervise the 5508 project.

Coastal Bay Properties Executive Director Derrick Blue Reporting to the Coastal Bay Properties Board of Directors, the Executive Director (ED) has overall strategic and operational responsibil ity for staff, programs, and execution of its mission. The ED supervises and monitors staff, including contractors , manages properties, engages board members, partnering organizations , granters, and funders; and develops, maintains, and supports the Board of Directors. Mr. Blue has exceptional leadership skills and served in the THAP organization for almost six years as Director of


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Energy Services, and more recently, as ED. Prior to his work at THAP, Mr. Blue had four years of experience coordinating weatherization programs for Polk County, three years of experience as a housing inspector in North Florida, and three years of management experience at Ennis, Inc. Mr. Blue is certified in Building Science with the New River Center for Energy Research and Training (NCERT), a certified Renovator with the Department of Environmental Protection Agency , and recently completed a Community Real Estate Development certificate through the Florida Institute of Government and University of South Florida. The CBP ED position is funded through existing funding sources. As ED of the organization that owns the 5508 N. 50th St. building, Mr. Blue will supervise the physical space of the 5508 project.

Financial Management Executive The Financial Management Executive will play a critical role and will report to the Chief Executive Officer (CEO). The candidate will support the following areas: finance, business planning and budgeting, human resources, administration , and IT to maximize and strengthen the internal capacity of the organization. The role will include overseeing and leading annual budgeting and planning process, managing organizational cash flow and forecasting , presenting financial reports, coordinating and leading the annual audit process, and effectively communicating critical financial matters to the Finance Committee and Board of Directors. Qualifications include minimum of a BA, ideally with an MBA/CPA or related degree, broad financial and operations management experience, a track record in grants management with personal qualities of integrity, credibility, and dedication. The Financial Management Executive will be a shared services position funded through THAP, Synergy Health, and Coastal Bay Properties with approximately .10 coming from the 5508 project.

Director of Membership The Director of Membership Services manages membership recruitment, membership application approval process, member enrollment, member database , member services programs and supervises staff related to member services, and will assist financial staff with dues payment issues. Minimum qualifications include a Bachelor's degree in Business or business related field, broad membership management experience, a track record in excellent customer service and ability to multi-task successfully with multiple constituencies. The Director of Membership will work with both incubators and co- working members and the position will be funded .50 through 5508 co-working.

Director of Professional Development and Community Partnerships The Director of Professional Development and Community Partnerships will report to the CEO, and will support the following areas: create, support and evaluate all programs including professional development for incubator members , co-workers , and the general public, develop and strengthen community partnerships, market and advocate for the organization and its mission, and assist in securing funding opportunities through grants, partnerships, and earned income strategies. Qualifications include minimum of a BA, ideally with a related graduate degree, broad instructional design and professional development management experience, a track record in grants implementation and ability to multi-task successfully with multiple constituencies . The Director of


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Professional Development and Community Partnerships will be funded through shared services with .20 through the 5508 co-working project.

Lead Customer Service and Office Manager Lead Customer Service and Office Manager manages customer service staff and interns, serves customers by providing product and service information, collects customer information, analyzes customer needs, resolves product and service problems, recommends potential products or services to management by and maintains financial accounts. Qualifications include advanced technology and office skills, proficient professional reading and writing, analyzing Information, problem solving, resolving conflict, and ability to multi-task successfully with multiple constituencies. The Lead Customer Service Manager will work with both incubators and co-working members and the position will be funded .50 through 5508 co-working.

Volunteer Board Members Current Board and committee members have expertise in business, real estate, medicine/ public health, accounting , public education, government , mental health, and financ ial services. They will volunteer their expertise to oversee the Executive Director and the forward movement of the 5508 project.

Community Partners A variety of potential partners have visited and toured the facility in anticipation of the face-lift and programs that are planned. Firm partnership commitments have been made by the local NAACP, Hillsborough Community College, and local Middleton High School. Partnership agreement letters are included in Appendix B.

Consultants Consultants will be utilized for short-term work and tasks such as skill-specific professional development , classes, and workshops .


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5.0 Operational THAP subsidiary , Coastal Bay Properties, owns the 5508 N. 501

St. property and will

provide renovation services to transform the building. The Co-working Exchange will rent space from Coastal Bay Properties at the rate of $3,000 per month. THAP 5508 will also be responsible to obtain all furniture, technology, and staff to manage the co- working exchange.

Membership The operation will be funded primarily through monthly membership dues. As members, co-workers use the facility to conduct business much like a corporate workplace or an office. An additional $10 per month will allow members to get free coffee at any time. A basic membership will allow unlimited co-work visits , including smaller private meeting spaces; more "deluxe" memberships add amenities such as conference room or classroom time. Non-members may also rent space at higher cost. The Membership Director will supervise and monitor membership recruitment and enrollment.

Educational Offerings The 5508 educational offerings include classes and courses for virtual workers and consultants, entrepreneurs and small business, under-resourced community members, and the public at-large. Courses and classes will be created by 5508 staff or with partners for no cost, for-fee, on a split fee basis, for a classroom rental fee, depending upon the offering. Organizations may rent classrooms for professional development or meetings. Members will receive reduced rates for course enrollment. The Director of Professional Development and Community Partnerships will oversee Educational Offerings.

Business Services v( Highly responsive 5508 customer service specialists will be available for printing, · . copying, faxing, envelope stuffing, administrative assistant services or any other office /1 . "' related service typically found in a corporate environment. The Lead Customer Service :,.; " and Office Manager will be responsible for coordinating business services. &'J

Events and conferences For fee and free events will be held on the 5508 premises. These events will be used as a vehicle for promotion (public announcements , entrepreneur "pitching," general education , job fairs), for fee (continuing education, business opportunities), or for fundraising for the organization .

Cafe and Daycare Cafe and Daycare facilities on premises will be rented to small business owners who will be responsible for paying rent and providing their respective services to 5508 co- workers .


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6.0 Social Return on Investment THAP's vision is "a community where every individual is self-sufficient and has pride, dignity, and self-respect," and the driving mission is: "To provide result-driven programs that meet the economic, educational , health, housing, and social needs of residents who experience challenges in accessing mainstream resources." Despite some bumps along the way, for over 25 years THAP has provided effective services to the community funded mainly through federal and state grants. With increased emphasis on revenue generation, the new THAP has clear goals: "working together to make a difference" to act as a catalyst for the "elimination of disparities in economic and business development , education, health, and housing." Social return on the investment will be extensive: improving the local economy and individual self-sufficiency through education, entrepreneurship and employment, and generating revenue for the ongoing services of the organization. A. Improving the local economy and individual self-sufficiency through education, entrepreneurship and employment. Some of the more persistent problems in distressed communities are the lack of employment opportunities and, at times, a lack of employability skills in residents seeking work. Such issues are exponentially increased by a poor economy overall. A-. facility that provides work space. business services, and adult education to professionals with a - · · while roviding the same services at low cost to community members ca · · ies

e ast Tampa community. The 5508 site, act as a community center, can improve individual self-sufficiency by offering specific soft and hard skills courses to help local residents improve their

. employment skills. Other local residents will act as entrepreneurs and create incubator businesses in the partner project on site. At the same time, the site will act much like a "magnet" to attract more affluent, suburban, virtual office workers or entrepreneurs to the East Tampa site. In this way, the 5508 project will act much like a magnet school in the local K-12 system. For example , Williams Middle Magnet International Baccalaureate program, just a mile away off Hillsborough Ave., is the most applied for X_. / magnet program school in the Hillsborough County Public Schools magnet and attractor _ si:)_ programs. Parents drive students to class at Williams each day from homes in more 'XY'J affluent suburban areas of Hillsborough County such as Carrollwood, Valrico, or Temple /\ . _;;; . Terrace. Along the same lines, more "professional level," college-educated workers can / · bring their financial and social capital to East Tampa and consume both products and .,:j services in the THAP 5508 site, generating economic activity. Both groups - residents "-.;P-1 and members from other areas in Tampa - will mix in networking events and education offerings. B. Generating revenue for the ongoing services of the organization. Revenue generated by the 5508 co-working project will fund the ongoing operations of the co-working exchange and will also help provide income for the ongoing services of subsidiaries Synergy Health Centers, Inc. and Coastal Bay Properties, Inc. In addition, the revenue will help develop a new Education initiative.

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The ongoing services of THAP through its subsidiaries include (1) Synergy Health Centers, offering a full-service clinic, especially focusing on pediatrics, in East Tampa, and wrap-around services for HIV-AIDS patients via the Minority Aids Initiative (MAI) project (funded by the Florida Department of Health grant); (2) Coastal Bay Properties, managing low-income housing and offering free Weatherization Ass istance Program (WAP) services to low income residents so that their utilities bills may be lower (funded by Florida Department of Economic Opportunity grant).

The new THAP Education Initiatives assist residents who experience challenges in accessing mainstream resources through offering new services: (1) a comprehensive, "no excuses" PACER (.E.ersonal goal setting, 6cademic achievement, Communication, Extra-curricular activities, and Relationships) Academic Coaching program for students and families, and (2) an Education Advocacy program to assist families specifically with navigating issues in the public school system such as academic placement or scheduling appropriate classes for their children.

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7.0 Financial Start-up expenses consist of rent, utilities, and personnel for the first year of the project. In additional, there are one-time costs for purchasing office furniture for the co-working space. Start-up assets include initial cash deposits on hand to handle expenses designated to cover 5508 co-working space rent, utilities, and personnel for the first year of implementation. THAP, Inc. will begin the 5508 project with "seed" money of $250,000 that will be maintained in an endowment account as required by Florida's version of the Uniform Prudent Management of Institutional Funds Act (UPMIFA).

Start-up Funds Personnel (monthly)

Position Monthly Salary

Benefits Cost 19%

Total Monthly amount allocated to 5508 Project

CEO $6250 $1188 $7438 Paid via existing

funders $0 ED Coastal Bay $6250 $1188 $7438 Paid via

existing funders $0

Financial Management $6250 $1188 $7438 $744 Executive .10= Director, Membership $3166 $602 $3768 $1884

.50 = Director, Professional $5000 $950 $5650 $ 1130 Development and Community Partnerships .20 = Lead Customer Service and $2000 $380 $2380 $1190 Office Manager

.50 = Total monthly $4948

Start-up Funds Rent and Utilities

Break-even Analysis

Total recurring monthly/yearly expenses Year 1 $9648 monthly/ $115776 annual

Rent to Coastal Bay Properties Based on totalfor property at .50 of $6000 monthly

$3000 $36000

Utilities, estimate (electric, wireless internet, water) Based on total for property at .50, $3400 monthly

$1700 $20400

Total Monthly $4700 Annually $56400

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laboration Exchange

Offsets/ Assets (con't)

Monthly Input (Membership and Education

Monthly Revenue

Membership dues (estimate based on average of year one expected dues)

$79 45-148 (evolving each month

with new members and attrition

$9045 (average)

Education workshops and conferences, average (estimate)

$49-99

Avera e $74

Minimum once weekly , enrollment 25

$7400

Total $16445

Offsets/ Assets

'

Yearly Regular Operating Profit Loss Prediction Year One, Project 5508 Co-working Only

·- l'l'l"

( $88800' )

Start-up Costs Furniture Needed to Implement 5508 Project

Item Number reauired

Cost each Cost total

Large Conference tables; 1 for each conference room

3 $600 $1 ,800

Conference room chairs; 10 for each table 30 $100 $3,000 Main Co-workina room tables to seat 4 20 $200 $4,000 Main Co-workina room desks 10 $100 $1,000 Chairs for Co-workina room 100 $100 $10,000 Classroom tables for two classrooms; 6 in each classroom

12 $200 $2,400

Classroom chairs for two classrooms; 20 in each 40 $100 $4,000 Total One Time Expense $26,200

Monthly input (Start-up Assets) :Rent

Sq. Feet Rent per sq.foot per vear

Monthly Rent Chan:ied to Lessee

Cafe rental/ Incubator 1500 $10 $1250 Dav care rental/ Incubator 1200 $5 $520 Monthly Revenue Total $1800

Expenses Income Total Rent and utilities $92400 Salaries and benefits $59376 Rental cafe and daycare Membership dues Professional development courses and events

$21600 '1. ./ '\.

/ Revenue generated, Yearly

$151776 $218940 $67164

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Membership Dues Prediction Financial Forecasting The approximate goal for membership enrollment is 50 enrolled during the pre-sale promotion, and then one new member per business day in the fiscal year beginning October.

Although there is not yet any definitive research regarding attrition in co-working spaces, it is likely that not all members will retain memberships over time. The closest industry using a similar business model is the fitness club industry, which has an approximate 10% monthly attrition rate, or rental housing industry, with 12% attrition.

Month New members Attrition Total members at Total revenue

Prediction month end dues per month 10% (@$79 average Pre-sale 50 5 45 $3555 Oct 20 7 63 $4977 Nov 20 8 75 $5925 Dec 20 9 84 $6636 Jan 20 10 94 $7426 Feb 20 11 103 $8137 March 20 12 111 $8769 April 20 13 118 $9322 Mav 20 14 124 $9796 June 20 14 130 $10270 July 20 15 135 $10665 Auq 20 15 144 $11376 Sept 20 14 148 $11692 Dues revenue for $108546 fiscal vear

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8.0 Business Goals and Objectives

Targeted business goals and objectives are described and delineated in the tables below.

Goal 1 Renovate building

Objective Deadline Responsible party Status Architectural Plan for building renovation

Aug 2014 THAP CEO/ Coastal Bay Properties ED with Board approval

Completed

Surveying property Aug 2014 THAP CEO/ Coastal Bay Properties ED

Completed

Permits Sept 2014 THAP CEO/ Coastal Bay Properties ED

In process

Complete building renovation: air conditioning, build-out, floors, classrooms and conference rooms.

Nov 2014 THAP CEO/ Coastal Bay Properties ED

In process

Goal 2 Hire staff

Objective Deadline Responsible party Status Membership Director Aug 2014 THAP CEO Completed; start

date AuQust 18. Financial Management Executive

Sept 2014 THAP CEO In planning staQes

Director of Professional Development and Community Partnerships

Oct 2014 THAP CEO Will transition from consultant position

Lead Customer Service and Office Manager

Sept 2014 THAP CEO Will transition from current position


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Goal 3 Set sales targets to generate positive cash flow

Objective Deadline Responsible party Status Market analysis and funding forecast

July 2014 THAP CEO/ staff Completed

Generate membership and associated services pricing plan

Aug 2014 THAP CEO/ staff Completed

Formalize membership plan with monthly sales tarQets

Aug 2014 THAP CEO/ Membership Director

Will be completed after on-boarding of membership Director

Sales/ customer service professional development for staff

Sept 2014 THAP CEO/ Membership Director/ Professional Development Director

In planning stages

Goal 4 Obtain co-working initial membership base

Objective

Goal 5 Begin educational offerings and events

Objective Deadline Responsible party Status Create partnerships Ongoing THAP CEO/ Director

Partnerships/ staff Dress for Success, NAACP and HCC

Needs assessment to determine popular offerings

Ongoing THAP CEO/ Director Partnerships/ staff

In development

Plan and hold education event

November 2014

THAP CEO/ Director Partnerships/ staff

TBD

Deadline Responsible party Status Renovate website Sept 2014 THAP CEO/ staff In process Create formal and informal partnerships through attending events and inviting guests to site

Sept 2014 THAP CEO/ Director Partnerships/ staff

In process

Create and implement google ads and Facebook ads to generate traffic to webs ite

Sept 2014 THAP CEO/ staff In planning stages

Appendix A: Product Validation

Page I

Product Validation Survey Results

Sample size: 50; 60% female, 40% male.

Age:

20 or younger 0.00%

21-29

30-39

40-49

50-59

35.71%

17.86%

17.86%

14.29%

60 or older 14.29% Education:

Some high school 0.00%

High school graduate 0.00%

Technical school or training 7.14%

Some college 14.29%

College graduate 17.86%

Some Graduate school

14.29%

Grad uate school Masters level

35.71%

PhD or JD 10.71%


Page 2

Occu pation/ Profession

Management 8.00%

Business and Financial Operations 12.00%

Architecture and Engineering

0.00%

Community and Social Service

28.00%

Legal Occupations

4.00%

Education and Training

24.00%

Healthcare 4.00%

Protective Service 4.00%

Food Preparation and Serving Related 0.00%

Sales 12.00%

Office and Administrative Support 4.00%

Installation, Maintenance, and Repair

0.00%

Comments: Investor (1), Tatoo artist (1), Unemployed (1).

If there was a Co-work facility in your vicinity, would you use the facility?

Yes. 40.74%

No. 11.11%

Maybe.

48.15%


If you used a Co-work facility, how much would you be willing to pay per month?

$100 or more. 3.70%

$75 to $100 14.81%

$50-75 33.33%

$25-50 11.11%

Under $25

7.41%

I would not pay for a membership, but I would attend only if it is free. 25.93%

I would not use a Co-work facility.

3.70%

What amenities would you expect to see in a Co-working facility (check any that apply)?

Wi-fi 100.00%

Printers 88.89%

Copiers 85.19%

Blueprint printers 3.70%

Assistant services (help with printing and copying, envelope stuffing, etc.)

37.04%

Conference rooms 74.07%

Classrooms 44.44%

Small private meeting areas 81.48%

Free coffee 48.15%


Networking events

Educational offerings (classes, courses, continuing ed)

I would not use a Co-work facility.

66.67%

59.26%

0.00%

Dr. Andy Gold Hillsborough Community College 4001 W. Tampa Bay Blvd. Tampa, FL 33614

August 6, 2014Children's Board of Hillsborough County 1002 East Palm Avenue Tampa, FL 33605

Re: Tampa Hillsborough Action Plan and Annual Business Plan Competition

Dear Children's Board of Hillsborough County:

It is with great pleasure, enthusiasm, and honor that I am writing to endorse the Tampa Hillsborough Action Plan (TRAP), and their participation in the Annual Business Plan Competition. I am a lifelong entrepreneur and passionate college educator. It is not often that I come across an organization such as TRAP, which demonstrates a deeply committed and sincere desire to transform our community through collaboration, entrepreneurship, and mentoring. I have spent extensive time meeting with the leadership of THAP, and have a clear understanding of their mission and purpose.

We have discussed at length their plans for development of a unique co-working facility in the East Tampa area, as well as a business incubator initiative that is designed to mitigate many of the common mistakes made by early stage businesses. I am fortunate to be able to have an opportunity to work with such an exceptional organization, and can state unequivocally that TRAP is a difference maker in our community. The impact that TRAP has had over the past several decades has been significant, however, I am confident that the best is yet to come.

It is my intention to assist TRAP in any way that I can, and help in my small way to contribute to their great work. In addition, there are great potential synergies that exist between TRAP and Hillsborough Community College, and we are working together to pursue those opportunities to collaborate. In my observations of TRAP and its leadership, I believe that the Children's Board of Hillsborough County would benefit greatly in advancing their relationship with TRAP. Should you have additional questions or would like to speak with me in person, please do not hesitate to contact me directly at 813-259-6062.

s7_el7y't,::::---41:...._--

t;t diei'G Hillsborough Community College 4001 W. Tampa Bay Blvd.

Pro'ected Profit ; .

THAP's 5508 Co-working and Collaboration Exchange Budget Summary

Year 2 2016 Year 3 2017

INCOME: Seed money

$100,000.00

32%

$100,000.00

$100,000.00

Co-working Membership $95,854.00 31% $105,439 .40 $115,983.34 Rental Income $21,600.00 7% $32,400.00 $48,600.00 Workshops/seminars/events $12,480.00 4% $16,224.00 $21,091.20 Business Services $26,400.00 $29,040 .00 $31,944.00 5508 Mail Store Sales $1,650.00 1% $2,145.00 $2,788.50 In-kind (Volunteers} $50,000.00 16% $55,000.00 $60,500.00

TotalIncom $307,984.00 100% $340,248 $380,907.04

EXPENSES

Staff:

5508 Staff $89,100.00 27% $98,010.00 $107,811.00 Payroll Taxes (.0765) $6,816.15 2% $7,497.77 $8,247.54 Employee Benefits (19%) $16 ,929.00 5% $18,621.90 $20,484.09

Contract Services $33,560.00 10% $41,950.00 $52,437.50 In-kind Volunteers} $50,000.00 15% $55,000.00 $60,500.00

Total Staff $196,405.15 59% $221,079.67 $249,480.13 Operations:

Payroll Fees $400.00 0% $440.00 $484.00 Equipment Leases &

Maintenance $6,000.00 2% $6,600.00 $7,260.00 Other Equipment $20,000 .00 6% $- $-

Furniture $26,200.00 20% $- $- Telephone $833.33 1% $916.67 $1,008.33

Internet $11,385 .00 3% $12,523.50 $13,775.85 Rent/Utilities $36,000.00 11% $36,000.00 $36,000.00

Insurance $5,770.00 2% $6,347.00 $6,981.70 Marketing/Promot ion $17,500.00 5% $15,000.00 $12,500.00

Su1212lies $10,000.00 3% $11,000.00 $12,100.00

Total Operating $134,088.33 41% $88,827.17 $90,109.88 Total Ex enses $330,493.48 100% $309,906.83 $339,590.01

NET PROFIT: $(22,509.48) $30,341.57 $41,317.03

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