The search for a second space started in 2020. Finding the dream commercial space was a challenge and a learning experience that we welcomed. Visiting spaces gives you an opportunity to dream your business model in the space and in the neighborhood of your liking. It was like looking for a needle in a haystack—yet fun! We quickly learned how to introduce our business model in a way that sounded familiar to the renter, partly because our concept is new in the market. We usually simplify it by saying a plant or flower shop. We explored so many spaces. Some spaces were explored by Julio alone, and others were explored with the commercial broker or his friends. In reality, many of these spaces have commercial brokers—what I call gatekeepers. After this process is over, Julio might have a new career as a tour guide for the City of Boston. This process has helped him learn and appreciate each neighborhood for its charm and uniqueness and, of course, limitations.
You might be wondering why it took so long to find a space. Over 30 spaces were explored within and outside of Boston. Finding the ideal space was like falling in love at first sight. Julio fell in love so many times with spaces that it led to a broken heart. If you are unwilling to accept rejections, be ready to create a bidding war between another business. It is okay to walk away–do not take it personally. He also knew that, in order to get into certain spaces, a commercial broker would be needed; luckily, he found an amazing one and expanded his network of real estate brokers. We realized what we were looking for in a space that was hard to find because of the revised business model and budget limitations. Julio has always dreamed of what is possible; now, we only have to find a building owner who believes in our business model and the benefits we bring to the neighborhood.
Sometimes, people say dream it, build it, and the people will come. In 2018, we opened our first location. We know the value of our current business model—in contrast to when we started. Since then, we have tested the model and pivoted our original model a few times by expanding services and assessing which products we should continue carrying. Most importantly, we realized we have maximized the use of our space. Prior to COVID-19, we were hosting workshops; post-COVID-19, we decided to reconsider how the space was used. Fast forward, COVID-19 allowed us to evaluate our business model. Another opportunity to pivot. Opening a second location will allow us to make necessary changes and be bolder with our model. COVID-19 influenced some of the things we do now and how we will move forward with our flagship studio. Our flagship studio will focus on creating human experiences through private and public workshops and events, adapting to the challenges of post-pandemic. We aim to create joyful human experiences to help develop deeper and meaningful experiences in the city of Boston and its residents and the people who visit the city.
We hope the dream space will house a 3D Lab, a real plant bar, a retail studio, and access to an outdoor space in a dense area accessible by public transportation, walking, biking, and car. Parking space was key, too. This type of space and location would take a lot of work to find. We projected a space of about 1,200 square feet. The current space is 650 square feet. Our goal is to create a one-of-a-kind space that provides experiences that bring diverse people together to laugh, learn, break barriers, and increase our sense of community.
We have cast a wide net in hopes of a big catch–a spacious commercial space.
Takeaways:
- Understand your finances.
- Take lessons learned from your first location and make the necessary changes to your future locations.
- What is the total square feet of space needed for the business model?
- Consider the type of expansion: geography, demographics, brand, and services
- Professional human assets are needed for the search. Be clear about the type of help you need compared to your skills. It is okay to ask for help.
- Consider the amount of time needed to scout locations. You will need time. Finding an ideal space does not take place overnight. It’s a long process unless you have inside connections, which always helps!
- Self-manage expectations by being patient with the process. It’s okay to be flustered and express your emotions.
- Walk the neighborhood at different times of the day. Look for accessibility to the location you want to rent, such as parking spaces, public transportation, bike lanes, etc.
- Visit other businesses and ask them questions. Understand how busy they are throughout the year.
- Understand who your competitors are–who else is selling similar products.
- Understand how transient the neighborhood is and how much it will change in the upcoming years.
- Do you see a lot of construction around the neighborhood?
- How young is the neighborhood?
- Will your price point meet the market’s demand or the neighborhood’s needs?
- Take a look at census data on how people use disposable income.
August 4, 2024
We are thrilled to call 1 Federal Street our flagship studio! The excitement is palpable as we look forward to the unique experiences we will create in this space.