The History of Positively Ballroom, LLC – the next chapter
In the summer of 2014 I started looking at spaces to lease. If we were successful in finding something we could afford, this would be out first time not sharing a space with other studios. We investigated spaces to both purchase and lease, which can be a very interesting and need I say long process.
Money is always a key objective to deciding on a space. I have seen people who choose a wonderful space, but the lease was so high they had no money for build out and renovation. They took out loans and soon became “underwater”, which in turn lead to the business closing and they being left in major financial debt. Those consequences are just scary and you realize that it can easy happen to you. One bad decision here, a wrong choice there, and the ceiling drops on your head.
It was decided early on that we would be patent and find the space that met our needs at the price we could afford without taking out any loans. We looked at a number of places that fit our needs. Some were negotiated out from under us by other leasors. If you are wondering of that is a common occurrence, I will tell you that YES this is very common in the business world. Keep in mind one very important thing, always go into a negotiation with your BEST offer. It will save you time and frustration as you move through the process.
Around the end of July we found a space that fit all of the criteria that we needed. An open space, very little build out required and in a great location. We made our best offer and won the lease. I wanted to up and running as quickly as we could, but was having trouble finding contractors that were immediately available. I started some of the preliminary work, which included applying for the numerous licenses, permits and inspections that are required. I even had some of the small demo work done. I received a call that week from an old family friend. He had heard that I was looking for a contractor to help with some renovations and offered his assistance.
We started on the renovations the first week in August and they were completed by the last week in August. Here are some of the pictures of the space as we moved along with the renovations.
The decision to move into a dedicated space has been one of the best I could have made. I will be transitioning into operating the studio full time in January 2015. It has taken close to ten years to realize this dream and I plan on savoring the experience.