Location, Location--and Price

With budget cuts, downsizing and a drop in consumer spending, businesses need to watch every penny. Startups are looking for good deals on rents, and some existing businesses are looking for less-expensive space. Price isn’t the only factor, of course. Businesses need to be in the right location to drive traffic.

In Southwest Florida, what does it take to find affordable commercial space in a good spot? We talked to three business owners who recently completed a leasing quest here. They share their trials and successes.

Finding the Right Balance:
Bikram Yoga Naples
After five years’ training in yoga, 29-year-old Jennette Gluski decided to open her own studio, Bikram Yoga Naples. Her search for affordable space to lease began in December 2006.

Initially she had a partner, but ended up solo when they saw the first financial estimates for a studio the size they wanted: 2,400 to 3,000 square feet.

"Space in areas we were interested in was coming in at $26 to $32 a square foot with common area maintenance (CAM) of $6 to $9 a foot," Gluski says. With that price tag, the pair even considered purchasing space. "We could find nothing under $1 million."

Gluski spoke with a number of commercial real estate brokers based in Naples, who steered her to various properties from Old 41 Road in Bonita Springs to the East Trail in Naples. Most places couldn’t measure up, at 1,600 to 1,900 square feet. "My square footage number was unusual," says Gluski. "That made things more difficult."

Parking was important; she wanted space for at least 40 cars. And she wanted a location close to north Naples and Bonita Springs. "The median income for both areas is up. I wanted to draw from those locations," she says.