Businesses Go Through Multiple Cycles of Revenue
It is just a part of business. Business owners have the responsibility to consider every aspect of their business to reduce cost or increase sales. Do you know if you are over paying in rent? Is your rent to sales ratio higher than 30 or 40%? If so, what options do you have? Most independent entrepreneurs don’t consider asking for a rent reduction. They feel as if once they sign their lease that it is concrete. Fortunately there are options to consider, if the assessment and leasing terms justify one. . But the main problem lies in, where to start? Best way to begin is to look carefully at your business economics and to evaluate how you’re business is doing for an x number of months/years. . Evaluate where you can cut costs but still able to maintain your business. Consider a professional, experience broker to assess the situation for you. Explore whether requesting a rent reduction is reasonable and how to proceed successfully.