How do you find the right space for your business?
Capital Ideas members share tips for securing a workspace that works for you
“It’s very important to us that the character of our space reflects the character of our company, so we have been very deliberate about the space we have chosen. We are in the Mercer building, which is in high demand, but we got in through a referral and introduction to the building owner from another tenant.” — Justin Archer, managing director of Berlin Ad/PR — brln.ca “It was just one of those things. My partner and I were given a month’s notice from our sublet and we were floored. My partner was still working in an office part-time and went for a walk. Lo and behold there was a basement office for rent. We called up, checked it out and rented it all in one day! Some things just come together. Getting out and exploring is the best way to find the right fit.” — Ryan Bonnell, owner of Device Media — devicemedia.ca “Having an understanding of what the future holds is extremely important. Therefore, you need to have your vision and a plan to achieve it. This will help the organization understand the size of the space required over the term of the lease. Engage your staff and let them take part in the selection process to help foster a positive culture. Apart from that, work with a reputable broker whom you trust.” — Andrew Bryson, president of Quercus Solutions — quercussolutions.com “This may sound self-serving, but find yourself a commercial real estate broker who specializes in the type of space you require, and do your background check on them. Speak to them first before trying to establish your budget rather than setting a budget first and then realizing you are not able to afford any quality options.” — Chad Boddez, senior vice-president of JLL — jll.ca “Treat your workspace like another employee, because that is what it will cost you. Your space is not just an expense — it’s a tool. It can be used to improve exposure, create an atmosphere and allow you to be more productive. It’s important to pick the right tool for your business, otherwise it can easily become a large expense and make you less efficient. Location was the key for our business’s success.” — Dan Dromarsky, capital partner at Enviro-Plus Business Services Corp. — enviro-plus.ca “I would take into account the elements that are crucial to the growth of my business.” — Rajesh Jaiswal, industry liaison for TEC Edmonton — tecedmonton.com
Brian Jaeger of Vienna Bakery (viennabakery.ca) advises entrepreneurs to consider the big picture before committing to a space. “Make a scale model, and include everything from the mop bucket to the cash register, and anything in between. Don’t fill space you are not going to use — this will feel like striking gold when you want to expand or add that new machine. Finally, consider the work area, the movement of people, and the flow from raw product to finished goods.” “It’s difficult to find the right space, but it’s easy to create it. Take advantage of City of Edmonton programs; both the Facade Improvement Program and the Development Incentive Program offer grant funding so that your business can improve existing space or develop new space in revitalization zones. Not only will your business prosper in a space that’s uniquely your own but the Edmonton community will as well. Create the right space.” — Stuart Kehrig, senior planner at the City of Edmonton — edmonton.ca “Location is key for retail, so don’t sacrifice location for price. For other businesses, look for a space that will give you options to grow and expand as well as ensure your employees will be happy. Look for access to mass transit as well as affordable parking. Finally, be creative with the lease and include favourable renewal options with locked-in pricing.” — Ashif Mawji, CEO of NPO Zero — npozero.com “We found our new space by looking at lots of different spaces and picturing how our team would fit and work in each space. We wanted to make sure there was enough space for growth and also wanted to make sure that there was enough parking!” — Steve Mebs, principal partner at Box Clever — boxclever.ca “We just moved in March and I found the key was to clearly decide on a few specific locations that suited our needs and focus our search there. It’s too easy to get distracted by options across the city and waste far too much time. Get an agent that is ambitious enough to leave no stone unturned.” — Bryan Smith, president of Bluetrain Inc. — bluetrain.ca “Drive or walk through your target neighbourhoods and keep your eyes peeled for signs. There is only so much searching you can do online; some of the most affordable and ideal locations can only be found by hitting the streets.” — Susie Sykes, principal at Catapult Marketing — catapultmarketing.ca “For the 50-plus entrepreneur, it makes sense to start as a home-based business. This allows mature entrepreneurs and small-business owners to have both the comforts of home and the full tax benefits for a small, home-based business.” — Joe Wasylyk, founder of the Seniorpreneur Project — seniorpreneur.ca