Are Flexible Spaces mainly for Startups & New businesses? Plus the benefits of running a business accelerator
This time, we explore the relationship between flexible office spaces and startups. Are Flexible spaces really full of start ups and new businesses? Drawing from my own experiences running business accelerators, I discuss the benefits and downsides of working with startups in commercial properties, and emphasise the importance of balance and the need for a mix of startups and mature businesses in creating a harmonious ecosystem. KEY TAKEAWAYS Startups are not the exclusive customers of flexible office spaces. While startups do find a nurturing environment in flexible spaces, there are also many established businesses and corporates that use these spaces. Startups bring an infectious energy and innovative spirit to the workspace, making them fun to be around and inspiring for other businesses. Supporting startups in their journey to become sustainable businesses is crucial. This can be done by providing flexible solutions as they grow and evolve, such as offering private spaces and meeting rooms. It is important to have a balance between startups and established businesses in a flexible space. This prevents constant churn and ensures a more stable cash flow. BEST MOMENTS "While it's true that startups do often find a nurturing environment in flexible spaces, particularly ours, of course, it's far from the whole story." ""Startups are limited to the tech realm". Well, that's just not true. They can be found in lots of different sectors, each offering unique benefits to us as providers of space." "And I think it's just part of life's ever-expanding tapestry, right? Sometimes when you put things out into the universe, it does pay you back." "So, if you're thinking about your own premises and you're thinking, right, I need to find loads of new businesses and startups, that's my focus, that is not strictly correct. You need a good balance and established businesses and corporate business will take space with you." JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors - https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/