I want to expand on the "Learnings" section above regarding how real estate is changing and how Maverick is poised to take advantage of the current space as a service environment. All real estate asset classes of the future must focus on the customer, the end-user, to be successful (from housing, to office, to warehouse, to retail, etc.).
This focus on the customer is something Amazon has used as a north star to dominate e-commerce. Amazon constantly over-delivers to their customers via next day, free shipping, free returns, and an infinite catalog.
The customer-centric approach most recently entered the real estate office world through operators such as WeWork, and it is clear that customer expectations have changed forever. It doesn’t matter if it is in the service or product industry - people expect everything to exceed their expectations and be catered exactly to their needs.
We are taking this same approach regarding building space for our customers, the wellness professional, but we see the long-term goal as providing space as a service with a service for creators across all industries.
To create the ideal environment for creators, we must focus on providing three things:
(1) Extreme flexibility via short-term rentals/leases and ready-made space with equipment and services provided (space as a service with a service), including team member help and production equipment and services (such as editing, marketing, etc.).
(2) Symbolic value beyond just functional (fast internet, working toilets) and experiential (inspiring design) benefits. We are creating an inspirational brand with our Maverick Community x Maverick Forward structure that wellness professionals and their clients strive to be involved with.
(3) Fostering community between our wellness professional customers and their clients and surrounding partners at each location. Community is supercharged when the focus is beyond just one customer and involves other like-minded individuals and partners sharing physical space.
We will be successful in this ecosystem described above if we enable wellness professionals to show up and do what they do best... teach/coach/train. We (Maverick Community) will not only worry about the rest but will always be looking for ways for our creators to earn more income.
Read more about our real estate strategy here.