GALLERY 135, named after its location at 135 Front Street East, is a novel and different approach to the standard street-front shop.

The 3,000-plus-square-foot space will be home to retailers, artists, a lounge and eatery.

Also called G-135, it is based around the concept of an "indoor market" where vendors can sell their goods without the pressures of owning their own shops, which comes with the associated financial expenses.

So not to be over-reliant on the indoor market idea, developers Keerome Maybury along with Kavan and Brenton Tucker, fused the concept with an art gallery as well as full-time lounge and eatery.

Mr. Maybury, who was previously a catastrophe risk and actuarial analyst with ACE before he become an entrepreneur, said he believes Gallery 135 is an innovative solution to the worsening economics of starting a retail operation in Bermuda.

"The costs of establishing a retail presence in the city tends to be very prohibitive, so only people who can afford 'make that gamble' get involved in starting new companies," he said.

"Between enormous customs duties, escalating energy prices, exorbitant rents, huge overheads, unreliable staff and the threat of growing online competition, it was becoming clear, at the time (when they developed the business model) that retailers were feeling some very real pressures.

"And, not just the little guys but the established ones as well. The market concept offered a chance for us to develop a business model centered on doing what we could to provide relief. It was an opportunity to give the little guys a chance to safely enter the market and the bigger guys an innovative, cost effective avenue through which to expand."

Recognising the need to fortify Bermuda's small business market in light of the world's recent economic woes, Mr. Maybury and his partners focused on this particular segment as their core business base.

"Start-ups and small business play an essential roll in driving the cogs that make-up local commerce," he explained.

"An economy supported solely by insurance and finance is hardly stable, which people have started realising these past few months more than ever. Beyond that, there are a great number of individuals on the island that possess business savvy and a sophisticated grasp on what products/services can work in Bermuda and how to launch them.

"The biggest issue for them, however, is having a real presence to operate from. Starting a small business in Bermuda presents risks that are grossly disproportionate to any prospect of success. Gallery 135 eliminates this risk in a manner that has never been offered before."

An integral and creative part of the design concept is the gallery's flexible leasing options.

"Our flexible leasing options allow for a phased approach to building and managing inventories using consumer feedback," explained Mr. Maybury.

"You will not have to commit to expensive annual rental leases by going on faith that a large first shipment will sell at the anticipated rate."

Offering permanent and temporary leasing options, the scheme includes weekly, monthly and quarterly contracts. According to Mr. Maybury, this allows for a constant rotation of new vendors in the retail portion of the gallery.

"There will always be something new in the retail gallery," he said.

"We will also have training for internal sales staff so they are aware of retailer's product and can assist with sales and promotional support."

Born in response to the financial conditions plaguing Front Street, Gallery-135 breaks from the traditional mould of tweaking an international business model and plunking it down in Bermuda.

"It is not always the case you can simply import a foreign concept, tweak it as would seem necessary and roll it out into the market with the expectation things will go as well as it tends to overseas," said Mr. Maybury.

"The Gallery 135 idea was truly built from the ground up. Gallery 135 is a truly home-grown concept that addresses real local issues."

Doors to Gallery-135 opened on Saturday, November 1. Prospective vendors are encouraged to visit the space and speak with developers about available opportunities.

For more information visit www.g-135.com.