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.