2021-016 HRV and Stoke Annual ReportDate: March 5, 2021 Report No. 2021-016
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
2020 Stoke Denton Annual Report
EXECUTIVE SUMMARY:
Stoke Denton, operated by Hickory & Rail Ventures, LLC (HRV), provides support for the
entrepreneurial, technology-focused, and start-up community in Denton. In Fall 2017, Denton
City Council executed a contract with HRV for management of Stoke Denton. The management
agreement is in place through June 30, 2021. As a requirement of the management agreement,
HRV provides a comprehensive annual report to the City’s Director of Economic Development
that summarizes the outputs and outcomes related to membership, marketing, programming and
events, and partnerships.
BACKGROUND
After a request for proposals (RFP 6571) process in Fall 2017, City Council awarded a one-year
contract for management of the City’s Stoke Denton Entrepreneur Center to Hickory & Rail
Ventures (HRV), LLC. HRV began management of Stoke on Dec. 1, 2017. Throughout the first
year of the contract, HRV met all contract terms. In November 2018, City Council approved an
extension and amendment to the management contract that will continue until Feb. 28, 2021. On
October 27, 2020, the City Council extended the management agreement through June 30, 2021
to align with the termination date of the City’s lease at the Railyard.
HRV is a local business founded by a Denton tech entrepreneur with established relationships in
the Denton tech community. HRV’s goal is for Stoke to be self-sustaining by the end of the
City’s lease term for the space, and its RFP pro forma was built on that goal. One of HRV’s
methods to work toward sustainability is to pay the City a $1,000/month rent offset in contract
Year 2 and a $2,000/month rent and utility offset in contract Year 3.
HRV began management of Stoke on December 1, 2017. The contract specified deliverables and
metrics to be provided, including a comprehensive annual report and a semi-annual report. In
addition, City and HRV staff meet regularly to review and discuss Stoke’s monthly report,
ensure that all conditions are being met under the contract, and to identify opportunities for
business development and collaboration.
Annual Report Summary
Attached as Exhibit 1 is the annual report provided by HRV for Stoke Denton, which includes
metrics related to membership, marketing, programming and events. Key takeaways from the
report include:
Of 64 member companies at Stoke Denton, 48% are technology-based.
Date: March 5, 2021 Report No. 2021-016
While most companies paid for virtual memberships or access to the general coworking
area, Stoke maintained consistent memberships for companies who required a dedicated
private office for their operations.
In August 2020, Stoke and the Texas Woman’s University (TWU) Center for Women
Entrepreneurs launched AccelerateHER, a startup program for female entrepreneurs.
Stoke sponsored the University of North Texas Hackathon in November and Texas
Academy of Mathematics & Science hack events.
Stoke partnered with North Texas Central College to host a virtual tech career fair.
Stoke Executive Director, Heather Gregory, currently serves on the Denton Business
Allies. This committee, coordinated by the City of Denton Economic Development
Department, is a consortium of Denton civic leaders that aims to support local businesses
with resources and educational efforts.
Stoke transitioned to virtual programming in March 2020.
Staff held weekly “Coffee + Convo” and “Lunch + Learns” with local entrepreneurs and
community members to maintain community connection. Programming was published on
Stoke’s social media channels.
In April, Stoke held “FlintConf,” a startup conference for “hipsters, hackers, and
hustlers.” This three-day, virtual conference consisted of sessions focused on lean
methodology, marketing, branding, finance, and wellness.
In September, Stoke organized “Big Ideas,” a mixer for Denton creatives and
entrepreneurs. Community members could share ideas and projects for improving
Denton.
During Global Entrepreneurship Week, Stoke organized speakers to share branding tips,
Denton’s AccelerateHER program highlights, and a State of Entrepreneurship. The week
ended with a virtual Denton startup crawl.
The year ended with a total of 69 events for members and 46 programs taught by mentors
and leaders of the Denton entrepreneurial community.
ATTACHMENT(S):
Exhibit 1 –2020 Stoke Annual Report
STAFF CONTACT:
Jessica Rogers
Director of Economic Development
(940) 349-7531
Jessica.Rogers@cityofdenton.com
REQUESTOR: Staff initiated
PARTICIPTAING DEPARTMENTS: Economic Development
STAFF TIME TO COMPLETE REPORT: 2 hours
Sessions
10,078
9.8%
Overview
Compared to Previous Period
Avg. Session Duration
00:01:17
-11.6%
Users
7,737
7.2%
Bounce Rate
69.0%
17.8%
Bounce Rate YTD
Jan ▼
Users YTD
Sessions Trends YTD
Goal Completions
215
-11.9%
Users
Users (previous year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0
500
1K
Bounce Rate
Bounce Rate (previous
year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0%
50%
100%
Sessions
Avg. Session Duration
Sessions (previous
year)
Avg. Session Duration
(previous year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0
500
1K
1.5K
TOUR REQUESTS
Website Goal Breakdown YTD
CONTACT FORM
Newsletter Sign-up (Goal 1 Completions)Newsletter Sign-up (Goal 1 Completions) (previous year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0
20
40
Tour request Form Submit (Goal 3 Completions)Tour request Form Submit (Goal 3 Completions) (previous year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0
10
20
google / organic
google / cpc
(direct) / (none)
m.facebook.com / referral
t.co / referral
twu.edu / referral
33.3%12.5%
16.7%
29.2%
google / organic
(direct) / (none)
twu.edu / referral
google / cpc
dallasinnovates.com /
referral
fb / ads
Stoke Coworking
Newsletter / email
others
22.4%
19.8%
22.4%
6%
9.5%11.2%
google / organic
google / cpc
Stoke Coworking Newsletter /
email
(direct) / (none)
Form Submission / email
Facebook / post
Instagram / post of photo and
copy
others
28.6%
15.7%
5.7%
8.6%
10%24.3%
NEWSLETTER SIGN UP
Source/Medium
Source/Medium
Source/Medium
Contact (Goal 2 Completions)Contact (Goal 2 Completions) (previous year)
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
0
2
4
6
Top Channels
Sessions Pageviews
0 1K 2K 3K 4K 5K 6K 7K
Organic Search
Direct
Paid Search
(Other)
Social
Referral
Email
google
(direct)
m.facebook.com
fb
facebook.com
twu.edu
Instagram
Stoke Coworking
Newsletter
Facebook
others
44.2%
13.3%
3.8%
25%
Top Tra c Sources
0
500
1K
1.5K
2K
2.5K
3K
3.5K
Stoke Coworking
Stoke Memberships and Space Rental
Pricing — Stoke Coworking
AccelerateHER — Stoke Coworking
RENT SPACE — Stoke Coworking
Stoke | Coworking, Meeting, and O ce Space
Events — Stoke Coworking
Virtual Member — Stoke Coworking
Coworking — Stoke Coworking
Dedicated Desk — Stoke Coworking
Users
Top Pages
Top Cities by Users
City Users Pageviews
Denton 1,545
Dallas 1,186
(not set)1,011
Fort Worth 242
Lewisville 149
Irvine 132
Little Elm 129
Boardman 116
Frisco 113
Corinth 108
▼
mobile
desktop
tablet
49.6%48.6%
Users Demographics
female male
47.5%52.5%
Top Converters
Organic Search
Direct
Paid Search
Referral
(Other)
Email
Social
28.4%
16.7%
6%
8.4%
8.4%
15.3%
16.7%
Users
0 500 1K
25-34
35-44
45-54
18-24
55-64
65+
Facebook Twitter Instagram LinkedIn
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
1K
2K
3K
4K
Facebook Reach Twitter Reach Instagram Reach LinkedIn Reach
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
20K
40K
60K
80K
Social Media Followers Social Media Reach
Blog Posts
Expertise Building Blog (broad/general info relate…Stoke-Focused Blog (coworking info, event previe…
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
1
2
3
m.facebook.com
facebook.com
Instagram
Facebook
l.facebook.com
linkedin.com
LinkedIn
Twitter
lm.facebook.com
others
390
239
150
178
191
Social Media Tra c
Facebook Twitter Instagram LinkedIn
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
500
1K
1.5K
Social Media Engagement
General Public Newsletter Open Rate General Public Newsletter CTR
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0%
10%
20%
30%
40%
0%
1%
2%
3%
4%
Member Newsletter Open Rate Member Newsletter CTR
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0%
20%
40%
60%
80%
0%
5%
10%
15%
Event Reminder CTR Event Reminder Open Rate
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0%
0.5%
1%
1.5%
2%
2.5%
0%
10%
20%
30%
40%
50%
Email Newsletter Subscribers
Email Subscribers
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
200
400
600
800
General Newsletter Specialty Emails
Member Emails
CLICKS IMPRESSIONSCOST PER CLICK
Impressions Clicks
Jan 1 Jan 25 Feb 18 Mar 13 Apr 6 Apr 30 May 24 Jun 17 Jul 11 Aug 4 Aug 28 Sep 21 Oct 15 Nov 8 Dec 2 Dec 26
0
25
50
75
100
Stoke Keywords via Search Console
Facebook Advertising
2,138
CLICKS
122,212
IMPRESSIONS
$1.09
COST PER CLICK Contact (Goal…Tour request…Newsletter Si…
-1
0
1
Conversions
COST PER CONVERSION
NA
COST PER CONVERSION
$27.04 1
Newsletter S…Contact (Goa…Tour request…
fb0
1
2 2
0 0
Conversions
32 $3.38 7,874
64
Member Companies
Memberships + Venue Rental O ce Memberships
Nights and Weekends
Dedicated Memberships
Virtual Memberships
Coworking Memberships
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
20
40
60
80
100
41
8
Membership Breakdown
Half Day
Full Day
Hourly
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
0
1
2
3
4
5
Venue Rental Breakdown
Tours Given
Total Venue Rentals
48%
% of Tech/Tech enabled
Events
2
Regional/Startup/Tech
(Sponsored)
13
Educational
(Hosted)
15
Startup/Tech
(Hosted)
46
Mentor Sessions
(Hosted)
69
Member Events
(Hosted)
Number Of Events Event Attendees
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 20200
50
100
150
0
5
10
15
Event Breakdown
Partnership Updates
TWU - In 2020 - Stoke and TWU Center for Women Entrepreneurs
launched AccelerateHER - a startup incubator for women
entrepreneurs. This program received regional press coverage and
forged new connections in the metroplex.
Chamber of Commerce - Heather co-hosted the Denton Insider
Podcast from August-December. Additionally, Heather served on the
steering committee for Denton Emerging Professionals with is a
forthcoming program of the Chamber.
Denton Business Allies - Heather is serving on the Denton Business
Allies committee coordinated by the Economic Development
Department.
UNT - Stoke sponsored UNT Hackathon and TAMS hack events.
NCTC - Worked to host a small virtual tech career event.
Program Updates
Coffee + Convo - In March we changed our weekly group mentor
session to be held virtually over Zoom.
Lunch + Learns - In March we transitioned our monthly Lunch + Learn
to be held virtually on Zoom. We record the sessions and add them to
our content library on YouTube.
FlintConf - FlintConf - Denton's startup conference for hipsters,
hackers, and hustlers was held virtually at the end of April. Three
afternoons of local speakers.
Big Ideas - At the end of September we held our Big Ideas event where
we heard business and civic ideas from the Denton community.
Global Entrepreneurship Week - The Stoke team planned a series of
virtual events for GEW including a startup crawl, panel discussion with
the member of the AccelerateHER cohort, and a State of
Entrepreneurship talk.
Hickory & Rail Ventures
PROFIT AND LOSS
January - December 2020
Cash Basis Monday, January 18, 2021 11:41 AM GMT-06:00 1/1
TOTAL
Income
50000 Revenue 195,197.58
Total Income $195,197.58
GROSS PROFIT $195,197.58
Expenses
71000 Facilities 24,429.21
72100 Advertising & Marketing 6,758.51
72200 Bad Debt 600.00
72300 Bank Charges 15.00
72400 Communication 1,204.92
72500 Continuing Education 223.35
72550 Staff Development 1,142.44
72600 Dues & Subscriptions 1,020.36
73000 Insurance 1,702.00
74100 Lessee Expenses 4,107.13
74300 Merchant Fees 910.28
74400 Minor Equipment 1,609.69
74500 Office Supplies 2,056.91
74600 Payroll Processing 709.92
74700 Postage & Shipping 36.30
74800 Software 4,135.43
75000 Legal & Professional Services 1,361.50
76000 Travel 485.77
78000 Payroll Expenses
78100 Salaries 141,975.70
78600 Employee Benefits 10,070.29
78700 Payroll Taxes 10,928.44
78800 Contractors 2,930.50
78900 Reimbursements 121.33
Total 78000 Payroll Expenses 166,026.26
Total Expenses $218,534.98
NET OPERATING INCOME $ -23,337.40
Other Expenses $52.00
NET OTHER INCOME $ -52.00
NET INCOME $ -23,389.40