Tweet

TURN EMPTY OFFICE SPACE INTO A SELLING PROPOSITION FOR YOUR FIRM

Guest post by: Thomas J. Madden

Article Overview: In this slow and dreary market for commercial real estate, there might be a silver lining for your firm to appear to be bucking the trend and expanding while all around you businesses are static or shrinking.

TURN EMPTY OFFICE SPACE INTO A SELLING PROPOSITION FOR YOUR FIRM

If your firm has downsized and you are fortunate enough to own your own office building, you might think about turning that space you have available into a golden opportunity.

Empty commercial space can enable you to expand dramatically the services your firm offers.

Even in this market, if you rent space reasonably enough, you can add compatible business partnerships, thereby expanding your resources, making your firm much more productive and attractive. Just don't focus too much on the rent you'll receive. Focus instead on the services a tenant brings and how those services might complement yours.

My own firm was able to turn the top floor of our building comprising over 5,000 square feet in downtown Boca Raton into a power floor of interactive, strategic partnerships that have converted the floor into a whole new synergistic professional work environment . And as a result business is booming.

Rather than rent space to just anyone, be selective and make a Godfather-type offer they can't refuse, provided they bring complementary services that you in turn can offer to your clients.

This strategy resulted in our firm leasing space next door to our offices to a company called Made in USA Certified, which certifies if a company's products are entirely made in America. This is a perfect fit to our business, which is public relations, for as soon as they issue their Made In USA Certified seal, we issue a news release announcing the certification, a win- win-win for everybody.

Today we are now partnering with this tenant on a variety of projects, including providing PR services to their customers and recommending their seal to our own new business clients who may qualify, including a new energy drink, DNA. So what might have lost in reduced rent, we have gained much more in new business and in having another service arrow in our own quiver of publicity services.

We're now thinking of renting another space we have available to a graphics design firm as that would make another complementary service we could offer to our clients. It's like adding extra staff and resources that you don't have to pay for and in fact pay you to be at your side. What a deal.

So this becomes a winning strategy for landlord and tenants alike as "all under one roof" is a compelling sales proposition to prospective clients.

Related Articles
  TIPS FOR MAKING MONEY WITH REAL ESTATE YOU DON'T OWN
  Legal Marketing: White space can be your best friend
  The questions which lead to nowhere
  Developing a Value Proposition
  How To Do Effective Local Marketing & Advertising
  Tips for selling in hyper competitive markets
  The art and science of Down-selling
  Home Staging Helps Real Estate Investors and Builders Maximize Profits
  Putting an Empty Home on the Market is Leaving Money on the Table
  How to Have a Unique Selling Proposition for you Online Affiliate Marketing Business
  Does Size Matter? (When selling a Business?)
  Match Your Message To Your Market - A Unique Selling Proposition
  Leasing Office Space – Part 15 of 23 Lease Negotiations
  Necessary Equipment For a Home Office
  Opening a New Office Location
  Market Focus – the Proposition
  IS THERE ANY VALUE IN YOUR VALUE PROPOSITION FIVE TIPS FOR COMMUNICATING THE REAL VALUE OF YOUR SERVICES
  Turn Cold Contacts into a Hot Network
  What's Your Value Proposition?
  Help, I Urgently Need to Increase Sales

Article Tags: business, commercial space, complementary, expansion, real estate, rent, strategic partners, synergy



Related Forum Posts


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

The Pure FUN of Learning & Using NLP

Word of Mouth Marketing Tips Fuel Success

Smart & Simple Internet Techniques

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.