Business Surgery: Meanwhile Creative

• Year established: 2013

• Where the company is based: BS1

• Sector: Low-cost and flexible commercial property

• Number of staff: Four full-time, two part-time

• Owner: Fred Wyatt

• Key clients: We have a large pool of clients. Some you may have heard of include Wildscreen, MJR Group, Gleem, Wriggle, Day One Media, Yayer, Phoenix Cafe, Blackbeard Bicycles.

• Website: www.meanwhilecreative.co.uk

Company overview

Meanwhile Creative was set up to unlock dormant commercial space for positive use, revitalising unloved office blocks in prime, central locations. The company adapts and renovates properties creating affordable workspaces for young companies on flexible terms. They support Bristol’s SMEs, entrepreneurs and creatives, cultivating thriving communities of innovative, like-minded people in an arena of networking and collaboration.

Around 150 businesses and freelancers, spanning a huge range of industries, now work within the Meanwhile Creative network. The company currently operates Pithay Studios, 36 King Street and Deben House with intentions to expand the portfolio both within and beyond Bristol in the coming years.

The Challenge

We’re starting to plan expansion beyond Bristol but haven’t decided where to pilot a project. What are the most important factors to consider when making such a decision? Should instinct play a part?

FEEDBACK

Adele Johnson

Associate in the Real Estate Group at TLT

“Research is the key to successful expansion. Select prospective locations and visit them to find out whether you think they will fit your criteria. Speak to local agents. Is there a need for a business like yours and, if so, is that need sufficient to make it financially worth expanding? Broaden your networks and contacts, attend relevant business and networking forums to understand what is happening in the market. Instinct may well play a part in the process. However, the final decision needs to be based on the facts obtained as a result of your research.”

Gemma Hewes

Director, Deloitte Real Estate

“As the falling availability of goof quality offices pushes up rents in many of the UK’s cities, flexible office space can be an attractive alternative to traditional leases – particularly for young, growing businesses that value the open, collaborative environment these spaces can offer. There is no magic formula when choosing successful locations for flexible office space. Key considerations include the strength of competition from similar offerings and the volume of space (current and future) available in the market generally, while proximity to thriving universities and the start-up community they can support is clearly beneficial. Is instinct important? Certainly – but only in conjunction with detailed market analysis.”