International body Entrepreneurs’ Organization has opened its first physical clubhouse in Australia, cutting the ribbon this month in a partnership with co-working lounge club Work Club Global.
EO, formed in 1987, is an international club for “established” company owners and founders that describes itself as the “world’s only peer-to-peer network exclusively for entrepreneurs”. Publicly, the Sydney chapter is known to have members such as Showpo’s Jane Lu, eNerds’ Jamie Warner and Your Empire’s Chris Gray.
The organisation limits membership to those that meet strict criteria, with the Sydney chapter saying “we are a selective organisation with a rigorous joining process”. Prospective members must be the founder or owner of a business that grosses at least $5 million, earns $500,000 in profit, employs five or more staff, has experienced three years of growth and must be in an industry unique to the chapter.
EO gatherings have a strict “no employees” policy and claims an $8.5 billion contribution to the Australian and New Zealand economies, with the Sydney chapter alone generating $2.6 billion.
Now Sydney members have a permanent clubhouse to relax or mingle in, at the Work Club Global’s Elizabeth Street building. The EO partnership has seen Work Club Global add a new bar and lounge space for chapter members, which was revealed earlier this month.
“The launch of the new Entrepreneurs’ Organization Clubhouse is a significant milestone in the development of our global network,” said EO Sydney president James Taylor.
“This state-of-the-art Work Club Global space in the heart of Sydney’s CBD will revolutionise the way we work, and continue to inspire business success amongst our members.”
EO’s membership fees run into the thousands, with just the global fee adding up to $US4,100 ($AU5,482) in the first year ($US1900 annual plus a one-time $US2200 “initiation” fee). The Sydney chapter charges a separate local fee, which Business Insider has enquired about.
Work Club founder Soren Trampedach, who was a former commercial designer for Google and Microsoft, said that there’s “great alignment” between Work Club’s “curated” membership and the EO community.
“We’re absolutely delighted to have EO members frequenting our Sydney Clubhouse,” he said. “Fundamentally it’s about connection, learning and improving the quality of people’s lives on every level.”