So you are opening that retail store for to expand your brand and you want to get in contact with the services you need to make it happen: architects, builders, designers and anything else to make your dream a reality. 4URSPACE is setting you up with anything you need all in one place. The matchmaker for retail vendors is not only getting you in touch with services in your area, but it only shows you companies that have actually done work in that actually area. With 6,500+ projects already in the system this company is truly geared 4URSPACE.
Today we sit down with CEO and Founder Stefano Sanchini to learn more about developments in the the retail space as well as wherehis startup is going next
Tell us about the product or service.
4URSPACE connects retail development and construction vendors and professionals to the retailers who need their services.
How is it different?
We are the only directory that allows retailers to find a retail vendor based on the geographic location of completed projects, rather than the location of the vendor’s offices. In addition, we allow retailers to search for vendors who have worked with a specific industry, brand or shopping mall. This makes it easy for retailers who want to open a new location to work with professionals with experience with similar brands in that location.
What market are you attacking and how big is it?
We are targeting the Retail/Commercial Development Industry. Thousands of retail or restaurants locations are opened every year. Every location, in order to be built, needs an Architect, Expeditor, General Contractor, MEP Engineers, Millwork, POS equipment and many other providers. We are targeting more than 1M companies only in the US.
What is the business model?
We will introduce a subscription fee. Companies will pay a monthly fee to showcase their projects and expertise and to connect nationwide with current and new clients.
What inspired the business?
I have been working in the Retail Development industry for more than 20 years. I opened many locations first in Europe and then, for the last 13 years, in the USA. Every time I had to open a new store in a new location, I always asked myself “Who are the vendors that worked already here?”, “Which projects did they complete and when?” Partnering with a vendor that already worked in the same shopping center or city makes things easy, both for the retailer and the vendor. They know already the procedures, code requirements or any other issue specific to that particular location.
Don’t some of the larger brands have the in-house capabilities to do what your platform focuses on?
Some of the retail companies have the list of their “preferred vendors”. Not every vendor can perform as the retailer expect in every location around the country. For example, permit applications are different in every city. Not knowing how long it takes to get your building permit may result in delays and extra costs. It is always better to work with companies that have already experience in the locations you are expanding to.
What are the milestones that you plan to achieve within six months?
Increase by 50% our current users through well-planned marketing and social media activities. In addition we would like to develop functionalities to enter into the revenue stage
What is the one piece of startup advice that you never got?
I’d like to mention the one piece that I got that is really important: “Keep it simple and build a great team.” The team is the most important aspect of any start up. A good and dedicated team is one of the first things any investor looks at.
If you could be put in touch with anyone in the New York community who would it be and why?
Steve Schlafman at REE Venture. He is the Marktplaces investor, currently involved in the NYC Real Estate Accelerator MetaProp with a deep knowledge in the Commercial Real Estate industry.
Why did you launch in New York?
We are based in NYC. New York is one of the most important cities in the world when your business is based on Real Estate and Retail.
What’s your favorite rooftop bar in NYC to unwind?
I like SOHO House. I love to stop by also in the winter, when the atmosphere around the bar with the fireplace is really beautiful.