Odeshi: How to Build a Coworking Business in Nigeria with Modupe Macaulay
Modupe Macaulay is the founder of CapitalSquare, a pioneering co-working space in Lagos Nigeria. She serendipitously happened upon the co-working industry while reading about the life of a blogger during her studies at the Warwick School in the U.K. After returning to Nigeria, she started a branding agency with a friend but did not feel strongly about it. Meanwhile, she kept to the co-working idea. She eventually decided to start the company but did not have the funds to make it happen. After spending some time to draft a business plan, profit analysis and feasibility study she pitched the idea to her dad and after much convincing her decided to invest in the business. Using some creative marketing strategies she was came up with the pricing structure and pitched to potential clients. She then worked assiduously with contractors and artisans to create her vision. No small feat given the challenges of finding qualified artisans and contractors. Today, Capital Square is growing steadily and becoming a quiet force to reckon with in the industry.
What you will learn
- The Big Idea
- How she started Capital Square
- How she got the investment to start the company
- What motivated her to get into start-ups
- How she went about setting up the space for Capital Square
- Getting people into the co-working space
- Current revenue projection for Capital Square
- Competition in the industry
- Insights on the future of co-working spaces in Nigeria
- Expanding the business in the future
- The problem of growing youth unemployment in Nigeria, and how co-working spaces may alleviate it
- Events that generate traffic and garner customers for the co-working space
- Entrepreneurs she admires the most
- Her biggest fears and how she combats them
- Her legacy for the future
- Examples of the types of customers in a co-working space
- Accommodating the power and technology needs for a co-working space in the Nigerian climate
- The regular people on the street who overcome the odds and set their dreams in motion
- Knowing that she made a difference, and helped people.
- One piece of advice she would give herself if she could go back in the past:
- Relax and take it easy. Everything will sort itself out.
- Advice to recent grads thinking of launching a venture in Nigeria:
- Get ready for people to frustrate you, but know that it will work out in the end.
Contact me: www.capitalsqua.re
This article first appeared on Odeshi