Situation:
In January 2011, Renard was contacted by a client who for confidentiality reasons we will call ‘World Spa’. World Spa had a very unique set of requests. Not only did the client want to lease retail space in a high traffic location in the city but World Spa required the space to have a private bathroom, private shower and a pantry area.
Along with having an uncommon use for non-office space in New York City, World Spa had insufficient american financials and there was a lack of basic market knowledge such as approximate price per square foot. The client’s first language was not English so there was a language barrier that made potential owners/landlords skeptical. All of the existing factors made the entire process a little more complex and stressful for them.
Solution:
Renard explained the benefits of World Spa utilizing him as their exclusive agent. After being hired as their exclusive agent we were able to successfully launch 4 new locations in 12 months. Here’s how….
Once hired as their exclusive agent, Renard would be empowered to act on their behalf including but not limited to connecting them with legal counsel, licensed contractors and insurance agents.
Following an exhaustive search of the prime locations in the city, Renard began contacting those rare buildings with spaces that met all client criteria. While making the phone calls to those buildings that would accept the World Spa use, management reinforced that World Spa was not seen as a desirable tenant.
Renard decided the only way they were going to be able to secure a space would be to re-position the branding of World Spa. Renard suggested presenting the client’s company as a business that focused on alternative medicine while incorporating body work. This strategic decision to present World Spa as something more robust than an exclusive spa opened the inventory of buildings that would accept their use.
Re-branding alone was not enough for World Spa to lease a space as the language barrier still remained a significant factor. Renard convinced the client to take ESL (English as a Second Language) classes so that when meeting with owners they would be comfortable with the lines of communication.
It took two full months but by the end of February 2011 Renard was able to secure the first retail space in NYC for the client just three blocks away from Madison Square Garden.
Renard’s understanding that the World Spa business relies heavily upon walk in clients, made the MSG location ideal for the client’s first location. Once World Spa secured the initial location we sought to expand and successfully secured locations in prime locations near Rockefeller Center and Times Square.
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