John is always looking out for you independant retailers out there! If you see him at a show please thank him for always thinking of advice that might help.

HOW TO GET A GOOD DEAL ON A LEASE

I came across a couple of great articles today that I thought I’d share with our independent retailers. The first one is from Inc. magazine. You can read the read the article at Inc.com. The article details practical steps for a retailer to put a plan together to initiate renegotiation discussions with their landlord.

I also found this article on bloomberg.com regarding Starbucks and the direction they are taking: Click here to read it. Admittedly, your store might not have the power of the Starbucks name or drawing potential of a 7,000 store chain. However, premium, independent footwear stores draw well and if a plan is presented properly, most landlords should be willing to negotiate in good faith.

A representative from Starbucks said this in the article, “We’re taking advantage of the opportunity in as many cases as we can,” Darrow said. “We feel like it’s a positive program for us. Most of the landlords we’ve worked with have felt it is a mutually beneficial situation.” I think this sentiment certainly applies to a well-run, independent shoe store. Vacancies in malls and strip centers are alarmingly high in many parts of the country currently and landlords simply can’t afford to lose strong tenants.

I hope you find these articles helpful.

Best,

John Licata

VP Sales

Stride Rite