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Free Excel download for coworking operators in India

A coworking financial model in rupees

Plan a new centre month by month for three years: the cash you need, the occupancy you need to break even, when it pays back and the margin once it is full. Every number is a live formula you can change.

Download the Excel model (free)

Excel file, about 90 KB. No sign-up.

The Summary sheet: money needed, break-even and payback, year-by-year revenue and EBITDA, the sensitivity tables and charts of cumulative cash and of revenue against running costs
The Summary sheet with the illustrative defaults. Change the inputs to your own numbers.

What's inside

Four parts, all in one workbook. Inputs are the only cells you type in; everything else calculates.

  • Inputs

    Area, seats, rent, CAM, rent-free months, escalation, security deposit, fit-out, furniture and IT, pre-opening costs, price by product, member deposits, collection days, the occupancy ramp and eight running cost lines.

  • Monthly

    36 months from opening: occupancy, seats sold, revenue, every cost line, EBITDA, cash collected, deposits in and out, and cumulative cash.

  • Summary

    Capex, peak cash needed, break-even occupancy, break-even month, payback month, revenue and EBITDA for years 1 to 3, the EBITDA margin and two charts.

  • Sensitivity

    What happens to year 3 EBITDA, payback and peak cash if your price is 10% higher or lower, or stable occupancy is 10 points higher or lower.

How to use it in 5 steps

  1. 1

    Download and open it

    Made for Microsoft Excel; it also opens in Google Sheets. Start on the Read me sheet.

  2. 2

    Enter the space and the lease

    Area, sellable seats, rent and CAM per sq ft, rent-free months, escalation and the deposit the landlord wants.

  3. 3

    Enter your upfront quotes

    Fit-out per sq ft, furniture and IT per seat, and pre-opening costs such as broker fee, legal and launch marketing.

  4. 4

    Enter prices, fill-up and running costs

    The share of seats and the realised price for each product, how fast you expect to fill up, and your monthly costs.

  5. 5

    Read the Summary

    Check peak cash, break-even and payback, then look at the sensitivity tables to see how much room you have if things go slower.

Download the Excel model (free)

The key formulas

All amounts before GST. Month 1 is the first month the centre is open; month 0 is the cash spent before opening.

  1. 1

    Seats sold

    Sellable seats × occupancy that month, rounded down

    Occupancy rises in a straight line from month 1 to the stable level, then holds.

  2. 2

    Revenue

    Seats sold × average realised price per seat

    The average is weighted by your product mix. Prices rise once a year by the increase you enter.

  3. 3

    EBITDA

    Revenue − rent − CAM − running costs − variable costs

    Rent is zero in the rent-free months. Rent and costs rise every 12 months by the rates you enter.

  4. 4

    Break-even occupancy

    (Rent + CAM + running costs) ÷ (price − variable cost per seat), rounded up, ÷ seats

    The share of seats that must pay to cover the monthly costs in year 1.

  5. 5

    Cumulative cash

    − Cash out before opening + cash collected − costs paid, month by month

    Cash collected follows your collection days. Deposits from members are kept out because you must return them.

  6. 6

    Peak cash and payback

    Peak cash = the deepest point of cumulative cash. Payback = first month it is back to zero

    Payback is shown with and without the landlord's deposit.

What the defaults give

The model opens with an illustrative 10,000 sq ft, 200-seat centre: the same numbers as the setup cost calculator, plus 2 rent-free months, 5% yearly rent, price and cost increases, ₹10 lakh of pre-opening costs, 2 months’ member deposits and 15 days to collect. Change them to your own numbers. For a quick check of break-even occupancy before you open the workbook, try the coworking break-even calculator.

Capex (fit-out + furniture and IT)
₹1,80,00,000
Cash out before opening (with ₹10 lakh pre-opening and ₹39 lakh deposit)
₹2,29,00,000
Peak cash needed
₹2,38,14,000, in month 6
Break-even occupancy
51% (102 of 200 seats)
Break-even month
Month 6
Payback month
After month 36: about month 41 if month 36’s cash flow carries on. Month 36 without the landlord deposit
Year 1 revenue and EBITDA
₹1,57,80,000 and ₹22,67,500 (14.4%)
Year 3 revenue and EBITDA
₹2,69,89,200 and ₹94,59,450 (35.0%)

Keep going

Setup cost and payback calculatorBreak-even calculatorOccupancy and seat yield calculatorGuide: how to start a coworking space in India
See how rivonOS runs a centre from day one

Questions about the financial model

What does a coworking financial model show?
How much cash you need before and after opening, the occupancy at which the centre covers its monthly costs, the month it starts making money, and the month the money you put in comes back. This model does that month by month for 36 months, in rupees, from your own lease, fit-out, price and cost numbers.
What is a good profit margin for a coworking space?
There is no single right number. It depends on rent, price, how full the centre stays and how long it takes to fill. Look at the EBITDA margin once the centre is stable, and at how far stable occupancy sits above break-even. In the illustrative example the stable EBITDA margin is 35%, but that is before depreciation of the fit-out, interest, income tax and head-office costs, and the numbers are made up to show the method.
Can I use this as a coworking business plan in Excel?
Yes, as the numbers part of one. Replace every default with quotes from your landlord and contractors and your own price list, then use the Summary and the sensitivity tables in your plan or when you talk to investors or a bank. Add your own market and team sections around it.
Are the default numbers a benchmark?
No. They describe an illustrative 10,000 sq ft, 200-seat centre and match our setup cost calculator, so you can compare the two. They are not taken from a real operator, city or building. Change them to your own numbers.
Why is the payback later than the break-even month?
Break-even is when a month's revenue covers that month's costs. Payback is when everything you spent before opening, plus the losses while the centre filled, has come back. That takes far longer, which is why the model shows both.
Should the numbers include GST and TDS?
Enter everything before GST. GST you charge members is not your revenue. Clients may also deduct TDS from what they pay you; that is income tax paid in advance, not a cost, so the model leaves it out. It does reduce the cash that reaches your bank until you claim it back, so keep some room for it.
Why are member deposits kept out of payback?
Deposits you collect from members are their money, and you return them when they leave. The model shows them as cash held, but measures peak cash and payback without them so the result does not depend on holding other people's money.
Is this financial or tax advice?
No. It is a planning aid. Check the results with your Chartered Accountant before you sign a lease or raise money.

Plan the centre in Excel. Run it in rivonOS.

One hour with the people who built it, using your own centres. If rivonOS isn't the right fit, we'll tell you.

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