SoNo offering real estate solutions - Insiders Outlook - SoNo Corporate Suites helps entrepreneurs - Brief Article

Many of your prospective tenants are likely to be "Entrepreneurs in Disguise." This means they have all of the right stuff to start a business but simply lack the funds to acquire initial office space of their own. They have the proverbial space in the garage or room in the basement, but that fails to provide the environment that they need to impress the world that theirs is a real business with a real product or service that deserves attention in the marketplace.

So when they ask the question, "Can we afford an office of our own," the answer appears to be, "No." But this is one of these rare cases where "No" can actually mean, "Yes."

The "No" turns to "Yes" when a real estate professional realizes that they can play a positive and highly profitable role as a catalyst in support of companies in the early stages of their development--and throughout their growth curve. This is made possible by offering fledgling entrepreneurs an office they can afford as a beachhead for growing their fledgling companies. One that may be simply a carve out of space well below the landlord's standard minimum but that enables the business to put down roots, to demonstrate its value proposition and ultimately generate the need for expanded space in the landlord's building or portfolio of properties.

Essentially, this is what we do at our corporate suites, which provides "would-be" entrepreneurs with all of the features of a fully functional office including the following: A physical space to do business, a receptionist to field phone calls and perform basic administrative services, an impressive conference room, signage in the lobby directory, 50% savings on Federal Express and office supplies and 10% discount toward video conferencing facilities.

Most important, this is obtainable by the bootstrap entrepreneur within 24 hours and there is no requirement for a long-term lease and the substantial deposit that often goes with it. We can take a company that is ready to soar and give it a place to hit the ground running. This is important for traditional landlords for this reason: At SoNo Corporate Suites, we find that when landlords cannot meet the modest space demands of fledgling entrepreneurs, you can refer these prospects to companies like ours and we, in turn, can refer these companies back to you once they require more expansive and long-term space.

Here's the key point: rather than dismissing early stage entrepreneurs as "too small" and simply letting them find their own way, play a role in their run at success by directing them to a corporate suites finn that will serve as their incubator and then redirect them to you once they sound the alarm for long-term space. This creates a powerful referral network that can put you in excellent position to house fast-growth companies with the funds and the track record to become ever- bigger tenants as they climb the growth curve. The fact is, firms like SoNo Corporate Suites need not be your competitors..... we can be your business partners.

COPYRIGHT 2002 Hagedorn Publication
COPYRIGHT 2002 Gale Group