First and foremost TheCodeFactory provides productivity improvements for members. If you think about when start-ups are formed there are a number of tasks and processes that are common across the board. These tasks are typically administrative and support related. You know, ... the type of tasks that need to get done but do not add a great deal to the value of the start-up. Things like setting up internet connections, installing a phone system, buying furniture, and that sort of stuff. We at TheCodeFactory provision these services for our members and allow them to focus on the important value aspects of their business.
The community aspect of TheCodeFactory we believe will add significant value to members. By being able to meet in the kitchen our lounge to share insights and conversations with like minded individuals can provide significant value.
Cost savings is a recurring theme among the members we have surveyed and interviewed. By providing a single monthly fee for a furnished office coupled with our economies of scale we pass these savings along to our members. We also provide value to members by giving them a more professional appearance with such services as shared reception and mailing addresses than would be achievable on the typical start-up budget. The lego like capacity of our team based office space allows companies to incrementally expand the team space. This is different than take a fixed area space provided by many landlords.
We provide shorter term leases to members that allow them flexibility and mitigate risks. In Ottawa if you are looking for office space the typical minimum term is 2 years, our lease terms are 1 year or less. This means more cash available for your business and de-risks the lease by providing a shorter term. This also means less capital tied up in overhead providing some financial risk mitigation.