Why This Financial Advisor Chose Firmspace Austin
Tim Bosworth is a Prudential Certified Financial Planner who has been in the field for decades.
When he made the move to Prudential nearly two years ago, he began renting a private office in the company’s outpost in the northwestern suburbs of Austin, but when the pandemic hit, that building was no longer a safe place to do business.
So, like many professionals, Tim moved into his home office, which was a reasonable temporary solution, but not a long-term fix.
A few months into the pandemic, Tim decided to start looking for a downtown location with a view where he could do the work he loves in a private, secure setting. What followed was a long hunt for the right professional office space.
Challenge: The Search for a Coworking Space with Polish and Privacy
Tim spent nearly six months touring available office rentals, looking for the right fit. “I wanted a space that was professional, and I would not feel comfortable bringing clients into any of the coworking spaces I toured.”
Most of the traditional coworking spaces he saw featured wide open spaces and didn’t offer the professional touch or amenities he was looking for.
Tim’s clients trust him with their financial lives; they don’t travel to his office for a meeting because they’re hoping to slip in a game of table tennis on their way out. He was looking for:
A private place to meet with clients
An environment built to facilitate confidential work where he wouldn’t have to worry that someone might view his screen over his shoulder
An office space with good energy
Ideally, a window with a view
Location also mattered a great deal in his search. Tim was ready to get back into a routine that took him away from home at least a few days a week, and he wanted to make sure he was available to meet with clients in a central, downtown location.
Solution: A Private Office Designed with Confidentiality in Mind
Tim had actually visited Firmspace Austin a year before he became a member because his wife’s law firm was operating out of Firmspace.
When asked about his first visit, he said, “I was extremely impressed. There was amazing energy and everything was handled seamlessly from the minute we walked in. It became the standard I was measuring everything against when I toured other spaces.”
Nearly six months into his search, he got in touch with our team to explore his options.
There were two factors that helped him make up his mind:
Prime downtown location. Between the variety of nearby dining options for client meetings and the number of clients who live or work nearby, it’s the right place for his business.
Truly private office space. “I need privacy due to the nature of my business. I love the soundproofing and the frosted glass. It really helps with what I do and the field that I'm in.”
After just one week of membership, Tim said he noticed the difference in his focus and knew he’d made the right decision.
Results: A Downtown Office that Restores Work-Life Balance
Tim’s business has grown since he moved his book to Prudential, and he appreciates that his Firmspace membership gives him the flexibility to scale up without having to make a commitment to lease a larger office space before he’s ready.
The move has also helped him improve his bottom line. “As it happens, I was able to realize approximately 15% savings on my lease by working with Firmspace, but I felt like I received a lot more bang for my buck as well. By that I mean other comparable options were either too noisy, too unprofessional, or too drab, and still priced similarly to Firmspace.”
He also estimates that leasing an individual space rather than an office that could accommodate two or three people has allowed him to realize closer to 30 percent cost savings.
And his hunch about his new location has played out. “The location has added to my marketability. I’ve had really interesting conversations with referrals that were excited about the fact that I'm downtown. They know where to find me.”
Tim currently spends about three days at Firmspace Austin and the other two at meetings or appointments in the field. In addition to his private office, he’s used conference rooms for client meetings and enjoyed the support of the community managers. Tim noted that the staff made the whole process easy.
“Every interaction has been extremely positive, from the initial lease conversation to today. Firmspace has lived up to their end of the bargain and that carries a lot of weight with me.”
If you’d like to hear more about whether Firmspace might be the right fit for your business, book a tour online today.