Case Study
Client: Marine Accessories Corporation
Situation
Marine Accessories Corporation (MAC) is an industry leader supplying marine products throughout the world. The company is a manufacturer of aftermarket items and an original equipment manufacturer (OEM) of boat tops and other marine add-ons. Their primary customers are aftermarket retailers, catalogs, marine distributors, marine OEMS, marine dealers and consumers. MAC has an excellent reputation of providing premium-quality products in boating, fishing and boat trailer additions.
Headquartered at MyNextSuite in Knoxville, MAC’s original lease with traditional office space commenced July 1, 2006. The company had hoped to grow their business and then consolidate their remote employees into a centralized location. However, several conditions ranging from an uncertain economy, high fuel prices, slumping home sales, rising unemployment and accompanying weak consumer sentiment have pressured marine markets, eroding the demand for boats and accessories. MAC’s 2,700 square feet of office space was no longer suitable for their long-term business goals. Thus, the Company began looking at other office solutions to meet their office requirements.
Solution
The economic downturn has led the company to reevaluate projects, expansions and scale back their original plan to move all employees into a centralized office space. In September 2008, MAC downsized their office space into five single-office spaces, through MyNextSuites’ single office solutions arrangement. This solution is ideally suited for companies experiencing downsizing while still meeting the corporate requirements.
Benefits
With this move, MAC saves more than 50% on monthly rent, while still utilizing all of the amenities, needed to operate their business efficiently, only for a fraction of the cost. The single offices provide MAC a low-risk office solution through their monthly, quarterly, six-month and annual leasing options. In the event MAC’s business grows and additional space is needed, MyNextSuite provides flexible arrangements to easily increase space as needed.
In addition, their arrangement offers a sophisticated office image, alleviates the high costs of managing a small business space and provides office space that is flexible to their needs in an affordable centralized location. Furthermore, MyNextSuite provides top-level amenities including a 24-hour access; elegant reception area; spacious, fully-equipped conference rooms; wireless Internet, as well as daily janitorial services, kitchen usage, notary service, facilities management and high speed Internet, among many others.
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