The Key to Being a Successful Independent Retailer
Being knowledgeable in all the aspects of your independent retail business is important, because it builds your confidence. As your confidence builds it means your business is more likely to succeed and thrive.
Did you know that only 1 in 2 small businesses make it past their five year anniversary?
This is the story that gets told by independent retailers all too often and we want to help you change those statistics.
The more knowledge you have about the right location details, demographics, real estate prices, and lease negotiations the more confidence you will have.
Here are some key areas that will help you not only be more knowledgeable, but increase your confidence and help your business to outlast others in your market:
● Know your lease stipulations before entering into an agreement.
● Be aware of any city ordinances that play a huge role in your day to day operations.
● Be knowledgeable in visual merchandising.
● Study and model creative marketing strategies by other brands that you admire.
All of these tips will help you to increase your revenue, and in some cases it will save you from having to close your doors.
Being a well-rounded retail business owner is vital, because you will have to dabble in a little bit of everything until you’re able to grow your team. It helps to know what your strengths as you build a team that fills in any weaknesses you may have.
Investing in a professional team with expertise in an area that you lack can mean the difference between a thriving business and a failing business.
Now ask yourself, how confident are you from 1-10? If you’re not feeling confident in negotiating your permanent, temporary, or seasonal lease then call our lease brokerage experts for a FREE consultation at 626.222.2452.
We can also assist with your rent reductions and early terminations when it comes to your lease negotiations.