How DSRs Can Capitalize on the $10 Billion Life Sciences Market
Find out how Dealer Sales Representatives (DSRs) can bid on life science projects and deliver outstanding results that turn clients into repeat customers.
By now, you've probably read the Bloomberg report that new construction in Life Sciences represents a $10 billion opportunity. Commercial laboratory space will grow to 95 million square feet this year – a 12% increase.
If you are a Dealer Sales Rep (DSR) at a contract furniture dealer and want to learn how you can capitalize on the growing life sciences sector, read on!
To find out more, we spoke with Claire Redsun from Formaspace Contract. Claire is a brand manager for Formaspace and a veteran marketing and business development expert with more than a decade of experience in the contract furniture market.
Q: Hello Claire. Can you tell us what's driving this rapid growth in Life Sciences projects?
CR: The success of developing new Covid vaccines in a year (or less) has spurred major investment in the Life Science industry. And, this is a key point for furniture dealers; most life science employees will work on-site, unlike office workers who may be on a hybrid home/office work schedule.
Q: What kind of investment dollars are we talking about?
CR: Innovation is driving the success of these companies, and investor interest is high. For example, we can point to a Formaspace Contract client, Gingko Bioworks, based in downtown Boston (with a new satellite office in Emeryville, California). This company's success in creating an innovative bio-research platform helped them achieve a $2.5 billion valuation in 2017, and some analysts think they could be worth as much as $15B after they go public this year with Soaring Eagle Acquisition Corp.
How Can DSRs Work Directly With Formaspace Contract To Take Advantage Of These New Life Science Opportunities?
Q: What can DSRs expect when working with Formaspace Contract?
CR: The key point is that we understand your business, and we make working directly with DSRs the heart of our contract furniture business.
I was a DSR at a furniture dealer for many years, as was Frank Bucher, the COO here at Formaspace Contract.
Unlike other life science furniture manufacturers that try to avoid selling through furniture dealers, we have built the contract side of our furniture business around dealers and DSRs.