Skyrocketing real estate prices aren’t only affecting renters in the Toronto housing market. Emerging businesses are also finding it hard to get a foothold in some of Toronto’s most desirable neighbourhoods… and finding “roommates” might just be the answer.
Helping both emerging and established businesses to “go from URL to IRL” is thisopenspace.
The Vancouver-based start-up deals in short-term real estate, kind of like Airbnb for businesses and established itself with a roster of properties available for events, meetings, retail, and production. Now, its newest ‘stores’ concept aims to make retail spaces in prime areas accessible, and most importantly, affordable.
“With the launch of Stores by thisopenspace, we’re offering brands ‘retail as a service’, which allows for access to short-term storefronts for retailers without the traditional high costs of entering brick and mortar,” says CEO of thisopenspace, Yashar Nejati in a press release.
Potential retailers need only to apply online and once accepted, supply the inventory while thisopenspace takes care of merchandising, marketing, staffing, sales, and analytics.
“Rent” is but a fraction of the cost (from $250) of leasing a commercial address on Toronto’s trendy (and expensive) Queen West and it’s charged month to month with no long-term contract to sign.
Sleepover, the first pop-up of its kind, debuted in Toronto earlier this month, but it certainly won’t be the last.
On now until the new year, the concept features a marketplace-like setting with a highly curated collection of makers and retailers, many of which have previously only ever been available online.
Sleepover is designed around the theme of bedtime and wake-up rituals showcasing 35+ brands including Endy, Peregine Supply Co., The Sleep Shirt, and more, but once the current pop-up wraps up, the thisopenspace store will bring in a whole new range of retailers for a temporary run.