In today’s briefing:
- Justco Holdings Not Just Another Wework?
Justco Holdings Not Just Another Wework?
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It is not surprising that investors compare JustCo to WeWork, as both share the same business model: sign a long lease with a landlord, spend on renovation, rent out workstations on shorter and flexible terms, and earn the rental spread.
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There are inherent mismatches of fixed cost versus flexible revenue, long liability versus short visibility.
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The flexi-office business model carries high operating leverage, given that its costs are mostly fixed.
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