Samenvatting

This report records the research project conducted within the context of the work placement for the Graduation Internship: Business Research and Advice during the fourth year of the International Business program at HZ University of Applied Sciences. The work placement panned from 05 February 2024 to 28 June 2024 at the Brussel’s based communication agency, indiandribble.

The research project regards indiandribble’s goal of generating profit with their four temporary rental spaces and desire to explore the idea of potentially establishing a listening bar. The end objective is to propose a business case that ensures profitability of the rental spaces and their functionality by January 2025. With that aim, preliminary internal and market research were carried out in order to identify indiandribble’s internal strengths and weaknesses (related to its temporary rental service provider) as well as the outstanding best practices or trends in the market. The results of this market research granted the ability to indiandribble CEO to take informed strategic decisions regarding the rental services of indiandribble. These strategic decisions subsequently served as the backbone of the business case.

To ensure validity & reliability of the findings and guide the research, two notable academic books were used: Doing in-company research projects: a step-by-step approach (De Bont, 2014) and Research Methods for Business Students (Saunders et al., 2019). Data was collected through desk research, interviews, observations, survey, and the use of AI. The data was thereafter analysed using methods such as thematic and narrative analysis, summative and visual analysis, descriptive statistic, strategic frameworks, and triangulation to ensure validity and reliability.

Key findings indicate (1) a lack of a clear communication plan, (2) the need for an additional person to avoid centralisation of operational activities and responsibility on Bernard Polet, indiandribble CEO, (3) association with indiandribble presents itself as a competitive advantage as it positions itself with having Brussels DNA, advocates for sustainability, is a proactive driver for culture, and has a network of professionals in the creative/marketing field, (4) operational inefficiency is prevalent as extra services are not accounted for in the pricing and the customer journey is not standardized/organized, (5) industry-wide restructuring and dwindling demand resulted in indiandribble facing internal personnel and finance issues, (6) and the concept of listening bars is very new in Belgium and capital intensive.

Ultimately the recommendation entails creating a sub-brand, “Vitrine” to market the rental spaces. This should be supported by (1) implementing a consistent brand & communication strategy, (2) adjusting rental prices to reach desired revenue and account for all extra services provided to the tenant, (3) hiring an intern as immediate support for operational activities, (4) to diversify the rental locations as a future expansion plan, and finally (5) positioning “La Fidélité” (one of the four rental spaces) as a rental space with exceptional acoustics is suggested as a cost-effective alternative to establishing a listening bar. All these can be implemented to ensure full functionality of the rental spaces by January 2025. The success of this recommendation will then mainly be measured by evidence of the rental service’s positive contribution to indiandribble’s finances, and an increase in occupancy rate to 40% by the end of 2025.

The implications that this has on indiandribble translate themselves in an opportunity to position themselves in an additional light,to create new partnerships and to bring in new revenue. As contribution to the field, this research offers valuable insights into customer preferences, market gaps and industry trends. The practical recommendations based on empirical evidence can serve as a guide for other businesses in the rental space industry looking to optimize their
services and explore new market opportunities.