Understanding your trading environment (or proposed trading environment), your own business model and your lease contract on an intimate level are the key underpinnings of successfully driving down your occupancy costs.
Sound easy? It really is.
While signing a lease agreement can seem scary, it’s actually a logical process, which is simply taken for granted.
The next time you’re considering entering a new centre or extending your lease in your current one, you can bet that at least one party in the negotiation will have done their homework – make sure that it’s you.
Happy ‘fit’ retailing!
Here’s a look back at the 5 Golden Rules of reducing your occupancy costs:
- Golden Rule #1: Research, research, research
- Golden Rule #2: Know your lease
- Golden Rule #3: Mind your own business
- Golden Rule #4: Negotiate confidently
- Golden Rule #5: Underestimate the sales, overestimate the costs, then sell more
First published in Inside Retail on 20 December 2019.