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Ryan Simonetti and Chris Kelly, Sentry Centers co-founders, on their business venture, which takes empty office space and converts it into temporary c...
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Our next -- -- discovery big financial opportunity an empty office spaces -- Chris Kelly and rise and -- are the co-founder.
Of century centers and Ryan -- first of all you used to work at Lehman I did in real estate so yes a lot of disaster there but you're turning the lemons and eliminate how.
Tom well our company -- -- focus on executive conference -- segment.
We take off the spacing converted to conferencing usage.
And we service the local media needs a fortune 500 companies.
Law firms a source -- -- can make it real simple that you that you provide temporary office space kind of hotels for businesses we protect itself LNG is temporary space temporary conference that is okay and how how did you get the start up capital and interest.
Well -- coming from finance where is -- was able to -- capital together and it was a time we're really the the real estate markets were such we were able to to find some space -- -- at a great price and we took advantage of that while the opportunities there.
So do you sign long term leases and then rent out short term is that basically how you make money in the -- and that is again.
That's the game and -- how solid so far you Macon and it's gone fantastic come you know we've just celebrate our second full year we've got two locations 7000 square feet of space.
You know exceeded twelve million in revenues last year and looking forward to this year focused in mid town Manhattan how do you expand from here if you're successful.
You know I think our focus obviously on New York we're very bullish on the amount of demand that's your given the large corporate days.
-- I think get used to build a strong footprint in New York brand century centers and then hopefully take its other cities for work for the longest time we're told we're gonna expect a collapse in commercial real estate in New York that collapsed ever really happen did it.
It it it really did -- you know I think -- It it's been some.
It -- not not.
Turning into -- boom anytime soon but it's it's pretty much been decided collapse of their bills their deals to be made what's to stop a company from trying to do this on Iran make -- a temporary -- with the building owner.
Well I think I think the type of services we have to provide a relatively complicated infrastructure need to deliver the service we do it is it is a definitely -- -- entry for us.
And I think to find space that works for real pure conferencing usage is really really difficult to come by.
And so we kind of feel like a real -- expertise our service expertise will be stronger venture now a clear sign of whether somebody's doing well in this environment whether your hiring you just hired three people this week right we did we're proud of that what kind of people are you hiring right now because I understand it's -- case your your -- simultaneously building the the corporate infrastructure and also the service infrastructure so.
It requires very different kinds of people.
And were really were making full time commitments are what are they hospitality people -- the financial people what largely hospitality people hospitality and and for those people out there or where interest did how'd they get in touch and it's www.
-- centers dot com careers please send -- -- is and we're looking for.
Amazing people that are committed to doing anything to provide and deliver service -- -- -- like most people you're probably also looking for capital how do you find capital in this market.
It's tough I mean I think from a public -- whom we look at bank financing as a small business it's really difficult you know without three years -- operating history getting any kind of bank -- thing.
Until we rely on the private capital markets and you know what unfortunately have to pay the price for that -- by the -- does does your age.
Have a factor one where the other in helping you to get capital.
You both are I actually what -- you just turned thirty right.
Oh yeah we're -- yeah.
No doubt that over -- it's still aren't -- -- I'm still pointing out does that make you more or less difficult.
You know our our rely on the old man really to bring capital and right right has a tremendous finance the financial background that I think has has served us very well there in raising capital writes off the first two minutes yeah right you as a -- and what are the door -- Chris great to see -- the name again is century Sanders look it up on the web -- thanks a lot guys thank you very much -- a -- -- the big numbers that could.
