Regus Case Study: MMI
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For more information visit regus.com/corporate or call 855-REGUS-54 Client Money Management International (MMI) is the largest nonprofit, full-service credit counseling agency in the US. It provides financial guidance, credit counseling, debt management assistance, and other education and advice services to consumers, via phone, internet and in-person sessions. Challenge MMI has branches in 27 states across the US, many of them staffed by a single counselor. These branches tend to be in storefront locations and business complexes – places where there’s high foot traffic and visibility. In the past, MMI rented these offices using traditional leases, but there are drawbacks to this arrangement. First, traditional leases are inflexible. MMI needs the flexibility to plan its footprint according to consumer needs. If MMI identifies a location and demographic where there’s a clear need for a local debt counseling service, it wants to get into that location quick. Equally, if MMI has a location where its services are no longer used extensively, retaining a presence there would be a drain of resources that would be better expended within another community. In both scenarios, fixed leases are too rigid: they limit MMI’s ability to put its resources where they’re most needed. MMI decided to look for more flexible and fluid ways to manage its branch network. Solution The person charged with finding a better workplace solution was Jim Triggs, Senior Vice President, Counseling at Money Management International. He knew about the concept of executive suites and flexible workplaces and decided to investigate further. “It was very clear, very fast,” he says, “that Regus was the premier player in this space.” Therefore, in December 2012, MMI opened its first Regus-based branch office in Las Vegas. Since then it has also used Regus Business Centers for branches in, New York, Arizona, California and Texas and is currently looking into other locations. Each time one of its existing fixed leases becomes due, MMI looks for Regus workspace in that location. MMI also prefers to use Regus workspace to enter a new market: “We look at the demographics and data, and research to see where we want to be in a new city, and then look for the closest Regus facility to that location,” explains Jim Triggs. “Regus allows us to explore a new market and get into the new area to serve the community quickly, efficiently and with a lot of flexibility.” MMI case study “Regus allows us to explore a new market and get into the new area to serve the community quickly, efficiently and with a lot of flexibility.” Jim Triggs Senior Vice President, Counseling Money Management International
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Learn how MMI partnered with Regus to enter new markets overnight without the risk of over commitment.
Transcript of Regus Case Study: MMI
For more information visit regus.com/corporate or call 855-REGUS-54
ClientMoney Management International (MMI) is the largest nonprofi t, full-service credit counseling agency in the US. It provides fi nancial guidance, credit counseling, debt management assistance, and other education and advice services to consumers, via phone, internet and in-person sessions.
ChallengeMMI has branches in 27 states across the US, many of them staffed by a single counselor. These branches tend to be in storefront locations and business complexes – places where there’s high foot traffi c and visibility. In the past, MMI rented these offi ces using traditional leases, but there are drawbacks to this arrangement.
First, traditional leases are infl exible. MMI needs the fl exibility to plan its footprint according to consumer needs. If MMI identifi es a location and demographic where there’s a clear need for a local debt counseling service, it wants to get into that location quick. Equally, if MMI has a location where its services are no longer used extensively, retaining a presence there would be a drain of resources that would be better expended within another community.
In both scenarios, fi xed leases are too rigid: they limit MMI’s ability to put its resources where they’re most needed. MMI decided to look for more fl exible and fl uid ways to manage its branch network.
SolutionThe person charged with fi nding a better workplace solution was Jim Triggs, Senior Vice President, Counseling at Money Management International. He knew about the concept of executive suites and fl exible workplaces and decided to investigate further. “It was very clear, very fast,” he says, “that Regus was the premier player in this space.”
Therefore, in December 2012, MMI opened its fi rst Regus-based branch offi ce in Las Vegas. Since then it has also used Regus Business Centers for branches in, New York, Arizona, California and Texas and is currently looking into other locations. Each time one of its existing fi xed leases becomes due, MMI looks for Regus workspace in that location.
MMI also prefers to use Regus workspace to enter a new market: “We look at the demographics and data, and research to see where we want to be in a new city, and then look for the closest Regus facility
to that location,” explains Jim Triggs. “Regus allows us to explore a new market and get into the new area to serve the community quickly, effi ciently and with a lot of fl exibility.”
MMIcase study
“Regus allows us to explore a new market
and get into the new area to serve the community
quickly, efficiently and with a lot of flexibility.”
Jim TriggsSenior Vice President, CounselingMoney Management International
For more information visit regus.com/corporate or call 855-REGUS-54
Benefi tsIn addition to greater fl exibility over its footprint, Money Management reaps two main benefi ts from using Regus workspace. First, there are cost benefi ts.
“With Regus, we only pay for the space we need, so that is very helpful in terms of cost. And the all-in costs are also an important factor. For example, telecoms and IT are all in place at Regus, so we don’t have to pay for connectivity. And at Regus we don’t have to pay extra for cleaning and security, as we do with many leases. So we do see cost savings from using Regus.”
The second important element for Jim Triggs is professionalism. Most of MMI’s branch offi ces are staffed by just one or two people, who spend much of their time counseling people by phone or in-person. In their old-style leased offi ces, it is therefore a common scenario that one consumer will arrive for an appointment while staff are busy on the phone or in a meeting with another person – a situation all too familiar to small companies and start-ups as well as non-profi ts.
For both non-profi ts and start-ups it’s not an effi cient use of resources to pay for dedicated reception staff. Yet having no one to greet visitors or show them where to go presents a poor image. Using Regus Offi ces remedies this issue for MMI, since all locations are supported by professional Regus reception staff, at no extra cost. This adds to the all-in value that MMI gains from using Regus Offi ces – a benefi t that is shared by thousands of cost-conscious small businesses, start-ups, sole traders and small branch offi ces.
“If customers have to sit in the lobby and not be seen by anybody until their appointment time, it doesn’t make for a professional environment. So in the Regus Offi ces we use, we appreciate having the Regus receptionist, professional environment and image that Regus offers us. You can’t put a price tag on that,” concludes Jim Triggs.
“With Regus, we only pay for the space we need, so that is very
helpful in terms of cost.”
Jim TriggsSenior Vice President, CounselingMoney Management International
MMIcase study
For more information visit regus.com/corporate or call 855-REGUS-54
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