“SPACE is just a place. It’s what’s inside that matters.”
The pandemic changed the global economic landscape. Many businesses unfortunately closed, leaving commercial spaces empty. As a result, both property owners and small businesses began sharing the same uncertainty about their future. We saw a need and an opportunity to tackle this problem for both landlords and entrepreneurs.
With unemployment on the rise, there was a shift in mindset. People who couldn’t go to work or didn’t want to return to a job where they felt taken advantage of, decided to start their own business. They decided to do something different. These new entrepreneurs are changing the landscape of how business will be conducted in a post pandemic world. And many of these start-ups are coming out of communities located in Monroe County, NY.
The idea to take these empty commercial spaces and turn them into spaces to help bridge the gap between startups and sustainability was birthed out of our own need of a flexible, short-term commercial space.
We know that opening a brick and mortar requires a ton of time, money, and resources. Entrepreneurs often get stuck in three to 10 year leases, with only a business plan and loans to stand on. Statistically, approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.
We were given an opportunity to test this idea out in our home city, Rochester, NY. We partnered up with a landlord who had a space that was sitting empty yet still required bills to be paid. So we got a space to test as our MVP, and built the SPACE Rochester platform to provide those looking for short-term commercial spaces local options to choose from.
Now property owners can list their space on spacerochester.com and entrepreneurs can access them in a way that makes their job as a business owner a little easier.
The concept to provide flexible spaces for entrepreneurs to work through their ideas is a new way of collaboration and a way to rebuild communities. Through this concept, processes and procedures can be implemented with confidence. Businesses can be built, and dreams fulfilled.
Do you want to sell and trade your Pokémon card or comic book collection? Teach a class, do a photo shoot, make a video, or feed the community? Have a concert, play some records or maybe a silent disco? Our spaces can fill a variety of community needs.
Entrepreneurs who are just starting out need an opportunity to test the market prior to getting into long-term commitments. Many commercial spaces are sitting empty, and by offering a short-term commitment, there is less risk for loss and higher opportunity for sustainability. Entrepreneurs can rent retail shops, bars, restaurants, venues, and flex spaces. Book by the day or week.
Our goal is to make it easy for entrepreneurs to access and fill flexible, brick-and-mortar, short-term commercial spaces. We’re continuing to add locations to the SPACE Rochester platform in an effort to serve a variety of business needs. From entrepreneurs doing the next big thing in culinary exploration to those selling handmade goods, we want to offer you a space that is suitable for your goals. For those who have empty spaces in need of tenants, placing your space on this platform is another path to revenue.
Entrepreneurs can test out their ideas, products, services, to different audiences in different markets by booking different locations. Entrepreneurs can build their brand with confidence, and landlords can rest easy knowing their space is not sitting empty 100% of the time. Find a space for you to grow, explore, expand, create, sell, buy, collaborate, build, feed, teach, play, win, and enterprise.
Sometimes we need a little help getting our ideas off the ground. We know there is a lot to think about when it comes to hosting that event or pitching investors your new product idea. Not only does SPACE connect short-term commercial spaces to entrepreneurs and the like, SPACE also connects entrepreneurs to trusted service providers for collaboration opportunities. Visit our directory of service providers if you’re in need of a little extra help.