By: Jessica Houghton
Neyborly: Pioneering Store Front Marketspace
Neyborly, a startup with San Francisco origins has a unique mission: creating accessible and affordable space for everyone. As time goes on, space is projected by the Neyborly team to become something of a utility with a growing value. Additionally, event venues are generally expensive and out of the way. Neyborly aims to make space a communal resource, a term coined “storefront market space.” The idea of storefront market space began by looking at the current state of empty storefronts within the cityscape. As the marketplace goes digital and the use of space shifts to homes or remote workspaces, Neyborly transforms the empty storefronts into affordable short-term rental space for events and gatherings of all kinds.
Neyborly started with a furniture store out of Berkeley, California. When the storefront was requested to be rented out for an event, the idea of a storefront as an event venue snowballed. The market was lacking an affordable event space in an urban setting that can adapt to a wide range of formal and informal events. Neyborly spaces have hosted a wide range of events from game day showings, weddings, photoshoots, pop ups, and corporate business meetings. The spaces can be rented out for a couple of hours for a baby shower or on a more long-term basis like a Rent-the-Runway pop-up.
Thinking of Neyborly as a utility, the storefront space is rented by the hour with up front pricing. Compared to hotels or convention centers, the space is up to 80% cheaper. Plus, the space is intimate and unique with handcrafted furniture and local art.
With a mission to be both a utility and a part of the community, Neyborly anticipates expansion beyond the West Coast. Currently, there are three locations in California and one in Portland, Oregon. The most recent storefront in Portland is quickly becoming a highly utilized resource by a range of unique groups. Next, the company says it has its sights set on Boston and the East Coast.
Neyborly has created their own niche in the market. Sitting down with the Neyborly Portland location team, they described the goal of creating accessible space as an experience making attaining space for any occasion or event “as easy as calling an Uber.” So far, Neyborly has had 260% year-over-year revenue growth in 2018. Their monthly unique visitors has grown by over 310% since last year.
Visit https://www.neyborly.com/ for more.