Here in our office block there are 2 offices and a retail shop currently vacant. They’ve been vacant for about 3 months.
And the owner is getting worried.
I know that because there is presently a small crane outside my window putting up a large sign advertising the offices and shop. It’s been at the building all morning afixing 2 other large signs.
Advertise Constantly
In the 4 years I’ve been here the owner has always had vacant offices. But this is the first times he’s put big signs up advertising the fact.
Wouldn’t it be better to have the signs up all the time so you can always have leads coming in, rather than wait for a vacancy and then put a sign up?
Wouldn’t it be better to advertise all the time, not just when you haven’t got much work on? That way you’ll never be struggling for work, or a tenant.
Cheers
That reminds me of a story that I read once (don’t know if it’s true or not, but it doesn’t matter):
Several years ago, the founder of Wrigley Chewing Gum was on a flight from New York to his home in Chicago. The passenger in the next seat recognized the chewing gum tycoon and asked him a question. “Mr. Wrigley, I know your company enjoys over 90% of the chewing gum market. Yet, last week I read where you are increasing your advertising budget by over 30%. With such a large share of the market, why do you continue to spend so much on advertising? Why not save that money or use it for something else?”
Mr. Wrigley replied, “How fast do you think this airplane is flying?” The man answered, “Oh, I guess about 600 miles per hour.” Mr. Wrigley responded. “I think that’s fast enough, don’t you?” The man agreed that indeed, it was fast enough. “Well then,” asked Mr. Wrigley, “why doesn’t the pilot turn off the engines and save all that expensive jet fuel?”
Not knowing what the neighborhood is like or the reputation of the building, if I saw a sign up all the time, I’d think it was a bad neighborhood, or unsafe building (mad tenents), or a high-rent area.