The stadiums and arenas of today, from the newest minor league parks to those at the highest level, now are outfitted with all the trimmings to best maximize in game experience and, hopefully revenue. The suite business has probably suffered from the economy more than any other silo in sport, with more creative approaches going to real estate which teams less than ten years ago had earmarked as wholesale. There is probably no team, even those who boast suites as soldout, who does not spend time worrying and creating ways to fill the most valuable and expensive real estate for the time when a buyer decides enough is enough.
Into that mix comes all the quiet time for stadia in the offseason or during the day. Few if any teams actually practice in stadiums they play in these days, and many suite deals come not just as team specific, but as building specific. A rock concert today, you have a chance to buy. tractor pull tomorrow, you have first crack. Arena football, Harlem Globetrotters, the circus. Come join us. However even with all those options, the time to fill the seats in a suite, get tickets allocated, and break from ones busy lives can still be extremely challenging. Factor in the high pressure world we have in the workforce, and those challenges for downtime at multiple events, even with tickets sold and the ability to forward or resell, still is a challenge. Then there is the question of balancing spend and return…are we getting what we invest in the high spend suite world? Can you really mix business and pleasure as much these days, and adequately satisfy both?
Well what if you could spend the money and also use the suite, and all its benefits, during the day? Not just for client outings or a lunch, but as an office suite? Today so many small business rent temp space equipped with all thats needed…fax, copier, wireless…the same offerings that many of not all, well equipped stadia have. Plus many companies may spend as much if not more in “stadium rent” tickets, PSL’s, travel and entertainment, than they may spend in temp shared office space. At least one team, the World Champion San Francisco Giants, have looked at the issue and found ways to work with their suite holders to use the space they have all day. A handful of small businesses, all good Giants supporters, have started to use Giants suite space on their Oracle level as office and meeting space during the days. It gives the team a great connection to the high end ticket buyer, it fills space that goes unused with no effort, heck it can even help move some concession sales and catering during quiet times, and it gives the buyer great ROI on their suite. It also probably fills more distressed inventory for the team, since the suiteholders are at the stadium working in their private space and can now stay around for the game more often.
Now is the come use our space as office idea for everyone? No. You would need a very self-contained small business to make it work. You also probably need a stadium or arena with a proximity to downtown, so as not to make meetings a hassle. You need a business that is relatively mobile…real estate, small law firms, small sales groups or a marketing company…and also one that can afford the price of admission on the suite level. However if you have that mix, and there are no liability issues ir a waiver is signed like there is in many small office setups, then why not join the Giants? In many cases the space is pristine, the services are first rate and the customer service and good will created could be huge. It also gives the team and some sales staff amazing access to their high end clients face to face, a relationship that is a positive when so much is done these days via phone or email. The benefits to the buyer are many…great space, unique space, great office services and the chance to maximize value on what may be your biggest investment…sports and entertainment tickets.
In a day and age where ROI is key, taking on some high end, well positioned clients as tenants is an interesting idea, and maybe a new cottage industry for teams looking for new perks to upsell.
