IT’S IMPORTANT TO CHECK OUT A PROPERTY BEFORE SIGNING A LEASE
Four individuals with deep ties to the Dallas business community shared their expertise last week during a session at Dallas Startup Week on building your business and locating your first office space.
Scott Rohrman, a developer once pegged by Dallas Business Journal as the savior of Deep Ellum, told the group that learning how to make your idea profitable is the key to business success.
The panelists also included Katie Jo Whisenant, an associate at Altschuler and Co., Jessica Donnelli, a vice president with EDGE Realty Capital Markets, and Chad Cook, a venture capitalist with Satori Capital. They discussed the less-considered aspects of maximizing the potential of an idea, as well as the optimization of a workspace.
“Lack of cash flow kills most businesses,” Rohrman said. “An idea can be great, but it must be profitable as well.”
“You should clandestinely walk into a potential location and ask those who are already there about the landlord,” Whisenant said.
“You should clandestinely walk into a potential location and ask those who are already there about the landlord.”
– Katie Jo Whisenant
“Absolutely,” Donnelli said. “It gets out — quickly — when people are mistreated by their landlord.”
DOES THE OFFICE HAVE GOOD INTERNET, CELL SERVICE?
“Also, think about how old some of the buildings in the area are. Always consider what cell and internet service are going to be like when trying out a new place. Go in and see for yourself before you sign anything.”
Rohrman said the differences in properties often are not considered by those entering the commercial real estate market for the first time.
“It is a much longer process, more complicated, when dealing with commercial anything,” Rohrman said. “It goes on a case-by-case basis when dealing with commercial real estate, versus the same four scenarios you often find in residential.”
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