On Scaling Profitable Coliving with Murray Clark from The Neighbourgood, Ep 2

In this conversation, Gui Perdrix talks to Murray Clark, founder of Neighbourgood coliving, about his journey to scaling to 500+ units while being self-funded, profitable and now expanding abroad. Neighbourgood is a connected city product offering that focuses on building multiple buildings, living and working spaces across the city of Cape Town and San Francisco. They aim to provide a lifestyle appeal that goes beyond the building itself, considering factors like quality of life, price, and community. One of their key differentiation points is that they offer a range of living arrangements, from shared spaces to private apartments, catering to different preferences and needs. Neighbourgood also includes work clubs, which are smaller, more intimate workspaces that promote community and collaboration. Their business model involves a combination of property management agreements, lease agreements, and property ownership, with a focus on density and efficient operations. For more information on Neighbourgood, check out https://neighbourgood.co.za/ We hope you enjoy this interview and may it give you inspiration! Let us know who else we should talk to in the comments 🙂 - - - ⚡️ For more ways to grow your coliving business, consider joining the Coliving Incubator Program: https://www.artof.co/coliving-incubator The Artof.Co Incubator is a 12-month milestone-based program helping coliving entrepreneurs successfully conceptualize, build and operate sustainable coliving businesses. We will help you make the right decisions and learn best practices along the way of setting up and scaling your business, giving you access to masterminds, a community of peers, mentors, and a mile-stone based program with resources. 📙 And make sure to start with the Art of Coliving Book: https://www.artof.co/art-of-coliving-book Get insights, frameworks, and learnings from 200+ coliving entrepreneurs on how to create, launch, run, and scale a coliving space. This book has been written by interviewing coliving founders. It summarizes best practices in community building, real estate sourcing, financial models, marketing, architecture, and all other subjects related to building out your coliving business. - - - 00:00 Introduction and Background 02:00 Neighbourgood's Vision and Approach 05:06 Expanding to Multiple Cities 08:09 Focus on Sustainability and Profitability 12:10 Living Arrangements and the Concept of 'Nice' 14:02 Creating a Variety of Living Spaces 21:35 Financial Model and Profitability 31:27 Lessons Learned and Advice for Coliving Founders #coliving #colivingspace #colivingbusiness #colivingentrepreneur #sharedliving #communityliving