Studio move to a shared retail space?

[elisabeth.eden]

Hey guys- I'm new here. I need help from other studio owners (or anyone who has advice). I have a small studio in a building built in the late 1800's. A lot of the character remains but a lot of the building needs fixing up. My suite has 8 ft tall windows and 11 ft tall ceilings. It's pretty, but again, it could use some work. I could really use more space but the natural light and charm is hard to beat here.

I have the opportunity to sublet part of a retail space across the street from my building. Storefront has always been my goal. But getting signage out front would be hard here. Also, my space would likely be in the back as the retail shop would get up front. We would work hand in hand.. me shooting for their lookbooks, having photos in the front window, etc. I'm just worried about my studio name being visible. Plus I'm not sure how I feel about clients walking through a store to get to my studio.

I'd love to get input on which spot is better at this point. Cost is uncertain and I'm trying to weigh the pros and cons of sharing with retail. I'd rather not feel like this is a gamble! They would get more traffic than I do on the second floor of my building. My audience is seniors and this shop has an anthropologie/urban outfitters look to it.

Thanks in advance!

 

[Derrel]

What happens if the other tenant runs in to financial difficulties or defaults on the lease?

 

[tirediron]

I don't maintain a full-time studio, but if I did, I would NOT want to sub-let. You only have to look in any large shopping mall to see the number of clothing and fashion-related stores that go belly-up on a regular basis. Traffic through their door does NOT equal traffic through yours! What about opening at off-hours? Let's say you were able to book a shoot that was sure to result in a BIG product sale, but it was at a time when the primary tennant wasn't open? Could you access your studio? What if something was lost or damaged on the primary tennant's premises by your clients?

 

[pixmedic]

accessibility could be the biggest issue.
i assume you have full access to your current studio 24/7? that would be hard to give up.
however, other factors might come into play here.
price. will it be significantly cheaper to sublet space? is your current rent a burden?
what does your contract say for going into business with this other place? what are your rights and obligations?
what kind of accessibility will you have to the studio space, and will the front end store be visible or audible from where you will be shooting?
what is the new shooting space like compared to your current one? good lighting? good space? room for equipment?
lot of factors to consider.

 

[elisabeth.eden]

accessibility could be the biggest issue.
i assume you have full access to your current studio 24/7? that would be hard to give up.
however, other factors might come into play here.
price. will it be significantly cheaper to sublet space? is your current rent a burden?
what does your contract say for going into business with this other place? what are your rights and obligations?
what kind of accessibility will you have to the studio space, and will the front end store be visible or audible from where you will be shooting?
what is the new shooting space like compared to your current one? good lighting? good space? room for equipment?
lot of factors to consider.

Yes, I do have access to mine at any time.

No, the price if anything would stay close to the same.

I wouldn't be going into business with them, just sharing a space.

Thanks for the thoughts! I'm leaning towards staying with my own spot until a better one comes along.

 

[elisabeth.eden]

I don't maintain a full-time studio, but if I did, I would NOT want to sub-let. You only have to look in any large shopping mall to see the number of clothing and fashion-related stores that go belly-up on a regular basis. Traffic through their door does NOT equal traffic through yours! What about opening at off-hours? Let's say you were able to book a shoot that was sure to result in a BIG product sale, but it was at a time when the primary tennant wasn't open? Could you access your studio? What if something was lost or damaged on the primary tennant's premises by your clients?

Some good pointers. And I think if I were shopping in a space and saw a studio in the back section, I would think it was off limits to me.

 

[elisabeth.eden]

What happens if the other tenant runs in to financial difficulties or defaults on the lease?

I've thought about this. This is a big factor in my indecisiveness. Right now I'm leaning towards staying where I'm at. I don't want to sacrifice the character and exclusiveness for a bigger space right now.