Introduction
Liliya Korallo worked with the Property Advice Service to find and secure new premises for her new business TheraFit London, which she is setting up with her sister, Irina. The free support was instrumental in keeping the process of starting up the new company on track. Our team has been providing critical support through expert advice, signposting and practical training, ensuring Liliya and Irina can navigate the complexities of establishing their integrated therapy and fitness centre.
Background
Liliya Korallo, a psychologist, and her sister Irina, a fitness instructor and former gymnast, decided to merge their expertise to create TheraFit London, a unique business integrating mental health therapy and fitness under one roof. Liliya was running City Psychological Services while Irina managed Irina Fitness. Despite their successful individual ventures, they lacked the experience to seek out a larger premises and related complexities.
The challenges faced by Liliya and Irina meant they needed our support at all stages of the process including finding appropriate premises for TheraFit London, securing it, checking all legal, safety and logistical elements, Business Rates, Rate Relief, and lease negotiations.
Working with the Property Advice Service
Liliya first came across London Business Partnership and our Property Advice Service while pitching at an event at UCL; someone from Grow London, part of the London Mayor’s office, advised her to contact us.
The property hunt started well. After we sent her a list of appropriate properties in London, Liliya and Irina found a great place in Highbury and Islington. Unfortunately, this fell through when, despite lengthy negotiations, the landlord accepted a higher offer from a more established business.
This setback brought them to the brink of abandoning their plans, but with our team’s support, the sisters regathered their resolve to continue their search. They went on to find a great property in Kings Cross.
Liliya and Irina worked with two of our team members, Isaac and Paddy. From the beginning, Isaac provided Liliya with much-needed triaging; passing her on to Paddy for bespoke advice, recommending other free London Business Partnership business support programmes such as E-Business, and pointing to other sources of advice. Paddy provided practical advice on various aspects of acquiring and setting up the premises.
Liliya explains: “I had a couple of fantastic one-to-one online sessions with Paddy, and he helpfully explained the necessary steps in simple language. He helped me understand the pros and cons of different options. This guidance was invaluable as we were initially unaware of many factors that we needed to consider when finding a property.
“Isaac was a consistent point of contact, providing continuity which is important. He directed me to the right people as our needs evolved. As different issues popped up, Isaac facilitated a connection, helping us to smoothly progress through various stages.”
Liliya was also impressed with the quality of our free support: “London Business Partnership are actually experts in their field although it’s free – even if you pay for business support, there is no guarantee that it will be good. Free stuff is also often part of a sales pitch, but we did not feel any pressure to start paying.”
The outcome
At the time of writing Liliya and Irina are waiting for the details of their new King’s Cross business space to be finalised, with the aim of opening in September. In the meantime, the sisters will use the summer to prepare for the move and business launch.
Our comprehensive support system not only helped London’s SME sector gain an exciting new business, but it also helped to reinforce Liliya and Irina’s commitment to making their vision a reality.