Symbosis- a state when living together is a win/win.
SymbioBiz is a unique approach to community and economic development. We’ve partnered with a we partner with businesses, churches and community organizations that want to use their under-utilized space to support entrepreneurship.
A unique approach to economic development
SymbioBiz is an answer to under resourced, expensive incubator programs. Because we do not have our own dedicated building, we are able to keep our operating expenses to a minimum. How are we able to do that?
Churches, cities and local businesses in the community want to support entrepreneurs, but they aren’t sure how. We can make this happen for them. By allowing SymbioBiz to utilize one of their unused spaces for our ecosystem, they will be making a lasting impact to the community without any added expense. It’s a win-win for both the entrepreneur and host organization.
We work with the business extensively before matching them with a host. Think of it like a foreign exchange student program for startup businesses. We vett the business, provide all the backend support, entrepreneurial and business support, business education and manage any potential conflict resolution so that we can ensure that the arrangement is a benefit for all parties. In exchange the host business provides their space to the entrepreneur at a subsidized rate. Taking on a full lease payment is a huge constraint for most entrepreneurs. We negotiate a scaled up rent payments for our entrepreneurs. In most cases, entrepreneurs pay 20% of the revenue generated onsite.
This is not a “real estate deal” or way of subsidizing the host business’s lease payment. Host businesses will receive financial compensation for the usage of their space, but not at market rate. That rent payment will be collected by SymbioBiz and a portion of it will be paid to the host business. The rest will be retained by SymbioBiz for overhead staffing costs. The amount of staff time needed to manage the facility will determine how much of the revenue collected will paid to the host business and will be pre negotiated with the host.
SymbioBiz is an ecosystem of business support. We utilize underutilized spaces in the community to house entrepreneurs while providing the necessary support to make sure the business is more likely to be successful.