Keanu Trujillo, Founder, Alchemy Coworking
Alchemy Coworking has an ambitious business plan for expansion and impact in the local entrepreneurial community. But for Keanu Trujillo, founder of Alchemy Coworking, occupancy is not the measure of success. “The true measure lies in the impact on the community,” he said. “The ultimate goal is for the mindset and culture fostered within Alchemy to resonate throughout the community, creating a positive and lasting impact.”
What was the inspiration and ambition behind founding Alchemy Coworking?
Growing up in New Mexico, where business and entrepreneurship weren’t common due to historical poverty, I pursued safer career paths. Graduating high school was a significant milestone for my family, and I ventured into corrections and law enforcement while serving in the Army National Guard. However, deep down, I felt like I had the ability to do more. Active duty with the Army National Guard led me to ministry and working for a church. Subsequently, I moved to Charlotte to join Elevation Church for a couple of years. This new environment exposed me to a culture where entrepreneurship and business were more understood and common.
The exposure to this environment ignited a flame within me and made me realize I was destined to build rather than be an employee. I started my first business in 2020, a coaching and consulting practice specializing in people problems due to my diverse career experiences. Three years ago, I was inspired to create a co-working space that went beyond the real estate aspect. It was about intentional connection, where people could serve, connect and encourage each other in their business ventures. With no real estate experience or capital, I relied solely on my vision, which proved to be sufficient in bringing this concept to life.
How do you think Alchemy will shape the community and go beyond just real estate?
Envision a community, like downtown Gastonia, where 300 individuals are intentionally connected, sharing opportunities, leads, needs and growth. This collective mindset and culture would inevitably influence the community at large. This is what it means to be a Partner at Alchemy, not a member. The impact would extend beyond physical spaces, reaching all facets of community life. Some businesses may start at a communal desk, progress to an office, and eventually occupy a building nearby. At Alchemy, the desired vision is to be filled to capacity, with a waitlist. However, occupancy is not the measure of success. The true measure lies in the impact on the community. If Alchemy fails to positively influence downtown Gastonia and, in the future, Greater Charlotte, it would be considered a failure. The ultimate goal is for the mindset and culture fostered within Alchemy to resonate throughout the community, creating a positive and lasting impact.
How do you evaluate the current coworking landscape in the region?
Many employees have become more productive while working remotely from home. However, there are both challenges and opportunities associated with this trend. One challenge is that people are social creatures and need human connection. The COVID-19 pandemic accelerated the realization that people need people. Even introverts miss having face-to-face interactions. This presents an opportunity for co-working spaces, which offer a sense of community and collaboration. We opened Alchemy, a co-working space, and within three weeks, our 10 offices were full, with half of our 14 desks booked. Our Business Club, which is our general membership tier, had 20 members. Within the first couple of weeks of opening, we were breaking even and finding profitability. As the CEO, I want to understand all aspects of the business so that we can scale our model and eventually hire and delegate tasks.
The trend I’m seeing is that people miss being around others and want more interaction. This is pushing large companies toward coworking models, where they can place their teams in coworking spaces instead of leasing extensive buildings. This trend represents a significant opportunity for our expansion model.
What does flexibility require and how can your partners leverage these flexible options in Alchemy?
Our business model is based on a month-to-month approach for everything, from our offices to our members and even our Business Club. While we have some longer-term tenants in our offices who receive a slight discount for committing to a year, we don’t go beyond yearlong agreements. The goal is to foster a more organic and flexible incubation environment. Although we would love for individuals to establish long-term roots with us, the model we’ve built around our culture is centered on an annual renewal process, allowing others to take part in our community. This ensures that the arrangement remains mutually beneficial for both parties. Moreover, our business provides a unique opportunity for entrepreneurs who are just starting out. Back in 2020, when I launched my own venture, I faced challenges in securing a rental space due to my status as a new business with limited financial backing and a low credit score. Alchemy addresses this challenge by offering flexible leasing options that enable individuals to plug into our community early on in their business journeys.
How are you incorporating technology into your spaces to enhance the partner experience?
In the early stages, we invested in and utilized software specifically tailored for co-working. This software, known as Office R&D, enables users to manage their billing and meeting room reservations. It also provides access to necessary resources within the co-working space. Additionally, the software integrates seamlessly with our wireless door access system, allowing users to enter and exit the building using the app. This software infrastructure plays a vital role in creating a high-quality user experience as well as efficiency as we scale into multiple locations.
What is your outlook and what are your top priorities for Alchemy over the next couple of years?
Our objective is to accelerate the incubation process by leveraging the strength of our capital, partners and members, enabling us to accommodate more individuals. A key internal initiative for me is to establish an “exposure program.” In this program, local established entrepreneurs would mentor young entrepreneurs and students, guiding them toward entrepreneurship. This intentional internship-like program is vital to our mission. Future investment and profits will help to fuel this cause. Simultaneously, we aim to expand and grow.
Comparable co-working companies typically target the dense Metro Charlotte area, however, our goal is to serve the suburban to rural Charlotte areas with the same quality of co-working. We can learn from the cautionary tale of WeWork’s Adam Neumann. His pursuit of growth was driven by pride and ego, not mission or strategy. The consequences are evident. Expansion should be driven by the desire to serve and our strategic partnerships in the area. Proving our model in Downtown Gastonia, a relatively overlooked community, highlights our ability to expand and find success in our future target areas. Our ultimate goal is to make entrepreneurship and business ownership accessible to all.
