Noticing that there were over 200 vacant storefronts and lots -- which equated to around $20 million per year in rental value -- in the Lower East in Manhattan, founder Eric Ho has created the 'Storefront Transformer,' which is a kit designed to set up short-term entrepreneurial ventures.
The 'Storefront Transformer' is a pop-up kit designed for short-term entrepreneurial ventures and is an idea by Made in the Lower East Side (miLES) as a way to provide entrepreneurs with everything from furniture to lights, to WiFi, speakers and a stage.
Describing the transformation of a vacant, unused storefront into anything from "an independent arts space one week to designer fashion boutique the next," the six-feet by six-feet cube is an easy-to-set-up, transportable shop. A Kickstarter campaign to raise $32,000 will go toward paying rent on the storefront and to pay for prototype units of the 'Storefront Transformer. The Storefront Transformer will debut this November and December.
Key Themes Behind This Trend
- Temporary Storefronts
- Entrepreneurs can take advantage of vacant storefronts in urban areas to create temporary and mobile storefronts.
- Pop-up Ventures
- Pop-up kits like the Storefront Transformer can provide a low-cost way for entrepreneurs to launch and test short-term retail or service concepts.
- Short-term Retail
- Ephemeral retail experiences can attract customers looking for unique products and brand experiences that they can't find in traditional retail settings.
Where This Applies
- Real Estate
- The Storefront Transformer concept could disrupt the traditional real estate model by monetizing vacant commercial space in urban areas and making it available to entrepreneurs.
- Retail
- The Storefront Transformer could be used as a way for retailers to experiment with new concepts and products before committing to a long-term lease.
- Marketing and Advertising
- Temporary storefronts can be used as part of a marketing campaign to test new products, create brand experiences, or increase foot traffic and awareness for businesses.
