While the economy remains in recovery mode and the retail world is radically disrupted by online shopping, brick-and-mortar retail sales may be trending down while at the same time rents escalate year over year. In the past eight years traditional brick-and-mortar retailers, such as apparel, shoes, jewelry, books and sunglasses stores, have closed their doors in California for a number of reasons:
• Economic downturn
• Higher minimum wage requirements
• Expensive worker’s compensation insurance
• Obama care expenses
• State and local taxes
If you are currently on a long-term lease, very likely your rental payments are scheduled to increase an average of 3% every year. Are your sales climbing by over 3% as well?
All is not doom and gloom! Golden Rule Resources has been able to help numerous clients to re-negotiate their rent or negotiate an early termination agreement to release from unsustainable leases. Let Golden Rule Resources help you to save your business! While there is no guarantee in life, Golden Rule Resources is experienced in these types of matters and can assist in guiding you. Don’t take the leap on your own; do it with the help of Golden Rule Resources!