Vancouver-based thisopenspace, one of the latest pitches on The Disruptors, wants to make unused commercial spaces more accessible to brands, agencies, and businesses that need them.
thisopenspace is a marketplace platform that allows people to list their unused commercial and residential spaces for short-term rentals. The spaces can be booked by brands, retailers, and small businesses for small events and popups. With each transaction, thisopenspace takes approximately 10 to 15 percent from the host, and four percent from the guest who books the space.
According to Yashar Nejati, co-founder and CEO of thisopenspace, the company has over 20,000 customers and global brands like lululemon and Nike have previously used its platform.
“We’re disrupting the real estate space,” said Nejati. “Over 10 percent of retail space in North America is vacant, plus, commercial and residential lease prices are skyrocketing…We want to be the place brands and people go to to find and book any space they want, at any time, anywhere.”
Co-host Bruce Croxon said while thisopenspace is serving a niche market by focusing on events spaces, he believes the company has to master its marketing and sales strategies to succeed.
“There’s so many of these things out there. I’m not saying this one won’t work, but like everything, you’ve got to go,” said Croxon. “It’s the sales and marketing game to get as much inventory connected with people that want the space as possible.”
Nejati’s inspiration to launch thisopenspace came after he was looking for a space to host a pop-up café for his food company Yummus in 2013, and quickly realized that many entrepreneurs wanted short-term rentals.
Watch the full pitch below:
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