Lifestyle, co-working social enterprise broadens mission of strengthening communities and improving lives through new development program that requires operators to ‘pay it forward’
WORTHINGTON, Ohio, January 15 – COhatch, a social enterprise offering a new kind of shared work, social, and family space built on community, is expanding into small and medium-sized markets by offering licenses to like-minded entrepreneurs through its Community Investment Program. Beginning this month, COhatch is awarding at-cost licenses to qualified individuals, non-profits and towns to develop, build and operate a new COhatch facility.
The newly launched community improvement initiative will enable local owner(s) to build a COhatch at a new location 30 to 50 miles outside of large metropolitan areas including Chicago, Cincinnati, Cleveland, Detroit and Milwaukee, or in urban core areas using its carefully honed formula for success. Owners will have access to all COhatch shared resources, branded and operational materials, website and digital tools and its network of professional service providers among other assets.
“We are very excited to make this option available,” said Matt Davis, founder of COhatch. “We have had an amazing outpouring of inquiries from in-need municipalities especially those with declining urban cores. For developmental reasons, these towns would absolutely love to have a COhatch in the center of downtown, replicating the success we are having in Worthington and Springfield, Ohio. This opportunity enables us to give back to communities in very compelling ways and doing it in a manner that is scalable region-wide.”
Each new owner will be responsible for growing a location and improving the surrounding community by revitalizing the existing building where a new COhatch will be developed and business activity fostered. To enable a successful build-out and operation, COhatch will provide a dedicated point of contact for training and support and ongoing technology and marketing assistance.
“There is one catch, however,” says Davis. “Consistent with our vision and mission, interested individuals must agree to ‘pay it forward’, meaning once an operator is in a stable financial position, five percent of their gross revenue will go toward the non-profit Legacy Women Helping Women.”
Legacy Women Helping Women is a non-profit working globally to redeem, restore, empower and equip those vulnerable to human trafficking, abuse, exploitation and addiction.
COhatch is working with Legacy to increase its impact through developing and operating a large-scale social employment agency that will function as the backbone for other companies to employ thousands of people in need of a second chance and a job.
“I believe the ideal candidate to be someone with a heart for their local area, who desires to see their community thrive and improve the lives of those they interact with daily,” said Davis. “COhatch is a great conduit for renewed growth. Given our model of working with city governments, building a successful COhatch works best when entrepreneurs can align themselves with local municipalities, banks and local investors.”
In addition, Davis cites non-profits as another viable candidate for the Community Improvement Program, especially those that want to operate a for-profit entity to fund their mission.
Candidates will be required to bring forward a minimum of $200,000 in working capital to initiate a new location.
COhatch currently has two locations in Worthington, Ohio, “The Hub” at Polaris Fashion Place, and four others under construction. The Delaware location “The Newsstand” will open in February; the Upper Arlington location “The Overlook”, and Polaris “The Pub” will open in early 2019 and Springfield is set to open mid-2019.
Members can access all COhatch resources and space at any of its locations. COhatch facilities offer space for private offices, dedicated desks, game areas, co-working spaces, meeting rooms, large conference rooms, indoor and outdoor event spaces. They include a standard set of business amenities such as Wi-Fi, desk and fax/mail services. In addition, each COhatch has a unique feature to it like The Madery Makers & Market space in Worthington and a 30-person theater at the Delaware location.
COhatch plans to open more than 12 total locations in Central Ohio along with a goal of 20 licensed units in the Midwest within the next five years.
COhatch, a new kind of shared work, social, and family space built on community, offers members the services, activities, and amenities to live a fully integrated life that balances work, family, well-being, community and giving back. Founded in 2016, COhatch was created through the collaboration of a group of friends who wanted to live out their ideal lives and improve their community. COhatch has two locations in Worthington, Ohio, one in Polaris Fashion Place and four under development in Delaware, Upper Arlington, Springfield and at Polaris Fashion Place with additional sites planned in the Midwest. Visit www.cohatch.com for more information. Follow COhatch on Instagram, Twitter and Linkedin.