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Friday, May 17, 2024

Jack Mason On Why Barcelona is a Natural Place to Call Home for Inc & Co’s incspaces

We sat down with Jack Mason, Group CEO of Incspaces and Inc & Co, delving into discussions regarding his property enterprise, investment firm Inc & Co, and the intricacies of scaling a conglomerate, which presents both formidable challenges and gratifying opportunities.

Tell readers in a nutshell what Inc & Co is.

We are an investment firm focusing on mergers and acquisitions, finance, and revitalising distressed businesses. Since our inception in 2019, we have successfully acquired and established several companies. One notable acquisition during the lockdown was Laundrapp, an on-demand laundry service that enabled users to have their laundry picked up and delivered within a day via an app. We acquired the brand, enhanced its business model, improved its service offerings, and subsequently sold it to one of its competitors after a few years.

That’s clearly a successful exit of a brand that once struggled; what about any failures?

There are always failures; ultimately, we’re buying businesses no one wants anymore, whether they’re about to go bust or are riding the fine line of being liquidated. While we will always try to save viable businesses, a few things need to happen first. The business needs to be salvageable, the current staff needs to want to work through any business difficulties, and ultimately, everyone has to want to work together. If just one of those things isn’t there, it won’t work.

While we’ve had many failures, it’s not fair for me to pinpoint one, as they’re all so complex. At the end of the day, any business closure affects people’s lives.

You’re expanding into Europe with incspaces; why now?

The decision to refocus the company’s efforts on new markets is crucial. Given that the UK flexible office market has become saturated with office space providers in recent years, we must diversify our property portfolio to be one step ahead.

While the UK has seen steady growth in the office space market since Covid-19, and expectations are that it will continue to grow, incspaces are growing faster, and the UK market isn’t growing in line with our plans. We can’t just wait around for the UK market and see conditions slowly improve; that is not what incspaces is all about, and it certainly not what Inc & Co is about.”

Tell us about the European plans in more detail?

We’re investing €1.5M into our two new European buildings, which is the start of a strategic realignment for incspaces. This realignment positions the company to capitalise on new opportunities and build a strong international presence. Ultimately, we’re driven by our dedication to supporting our clients’ growth and success, and we will do that in Barcelona and Dublin.

What else are you doing to grow incspaces further?

We recently introduced Infinity Office to the U.K. market, targeting startups and entrepreneurs seeking flexible office solutions without long-term commitments. This service allows users to drop in as needed, use mail redirection services, and participate in meetings or events. Infinity Office offers a unique blend of virtual office convenience with a VIP experience, a first of its kind that we have encountered. Since its launch in April, it has quickly garnered significant interest from the startup community.

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