Glowbar Ramps for 100% Expansion with the Support of Occupier
Last Updated on June 6, 2024 by Morgan Beard
In the early days, Glowbar’s small team managed leases manually using spreadsheets and documents stored on Google Drive.
But this approach became unsustainable. Adam Farber, Director of Real Estate and Operations at Glowbar, recognized the need for a dedicated lease management system to support their ambitious growth plans.
Glowbar, a rapidly growing facial bar concept founded in 2019, has a mission to make people feel confident in their skin. The brainchild of Rachel Liverman, a third-generation esthetician, Glowbar’s roots run deep in the world of skincare and wellness. Liverman’s grandmother pioneered the field of esthetics and founded the first accredited esthetic school in the country.
With skincare and wellness ingrained in her DNA, Liverman recognized the need for accessible and attainable skincare services — once considered a luxury reserved for spas — this became the cornerstone of Glowbar’s mission, to make exceptional skincare for everyone.
Glowbar has been expanding at an impressive rate, opening multiple new locations each year. With a focus on sustainable expansion, Glowbar sought a platform that could streamline operations, foster collaboration, and provide valuable insights to support data-driven decision-making while they grow their real estate footprint.
Challenge: Manual Lease Management
In the early days, Glowbar’s small team managed leases manually using spreadsheets and documents stored on Google Drive. However, as the company expanded to nine locations in 2023, this approach became unsustainable. Adam Farber, Director of Real Estate and Operations at Glowbar, recognized the need for a dedicated lease management system to support their ambitious growth plans.
“When we opened location seven or eight, I knew we needed to start looking for a lease administration software,” Farber said. “It’s just not feasible to manage everything manually as someone’s full-time job, especially as we expand our footprint. I knew that Occupier was the right leasing software for Glowbar. With accurate lease data at our fingertips I can focus on negotiations and expansion strategy.”
Solution: A Central Repository for Quick Assess to Lease Data
Occupier’s lease management platform provided Glowbar with a centralized repository for all their lease data, enabling quick access to critical information and facilitating data-driven decision-making. Farber highlighted the software’s ability to quickly retrieve rent and square footage data as a significant advantage.
“The two biggest value plays for me with Occupier are being able to quickly log in, and confidently look at the various economics and critical dates of our portfolio. ” Farber explained. “This allows me to forecast future growth accurately and update our performance models while assessing and evaluating new locations.”
Occupier not only streamlined lease administration for Glowbar’s real estate team but also fostered seamless collaboration with the accounting department. The software’s ASC 842 compliance features played a crucial role in ensuring the company adhered to the latest accounting regulations.
“Our controller was very involved in the interview process for different software solutions,” Farber said. “He felt that Occupier was a clear and easy choice because the software is top of automating compliance, with a team dedicated to ASC 842 support.”
“I knew that Occupier was the right leasing software for Glowbar. With accurate lease data at our fingertips, I can focus on negotiations and our expansion strategy.”
Benefits of Occupier
According to Farber, “Occupier’s strengths extend beyond its robust features and functionality. The human element and exceptional customer support set Occupier apart from the other tools out there.”
- Quick turnaround for lease abstraction services
- Intuitive and easy-to-use user interface
- Dedicated customer success & technical accounting support
- Consultative approach to identifying unique customer leasing needs
- It’s a scalable platform that grows with the business
- Occupier anticipates future leasing requirements as our company expands
Farber emphasized the importance of choosing a solution that not only meets current needs but also anticipates future requirements. “You should ask questions during your lease software exploration and bring to the table what you’re looking for in lease administration, lease extraction services and lease accounting,” he advised. “Occupier might open your eyes to custom functionality or workflows that seamlessly automate day-to-day operations.”
As Glowbar continues its expansion along the East Coast, with plans to open nine new locations in 2024 alone, the company can rely on Occupier’s robust lease management platform to support their growth. With critical lease data at their fingertips and streamlined collaboration between teams, Glowbar is well-positioned to execute sustainable growth milestones while providing exceptional skin care services to their rapidly expanding customer base.
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