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Great article! I think lighting is one of the most important things in a retail store. Also much easier to succeed at with a smaller retail store. Lighting, scents, sound, all Muy importante!
Great article. My works have recently commented on my workroom fragrances. In the store, we use use air fresheners and sprays with the same scent. Customers have commented on how great the store smells. Even their kids will say “it smells good in here.” I have to have scents and the air fresheners are very mild in strength. We have recently purchased essential oils and mixed with distilled water to spritz the store every now and again. We choose to use fragrance to relax the senses and the customers. But, I do like your memorable idea.
Thanks for the feedback, Susan. We’d love to know what scent you use that your customers love so much! Thanks again.
Do you happen to know what scents are most appealing? Or does it depend on the target market? I wonder if there any published studies on those sorts of things.
Yes, there’s plenty of published studies. They are on our web site http://www.scentmarketing.org.
Harald H. Vogt
Scent Marketing Institute, Scarsdale NY
Groupon sounds like a great option! Thanks, I’ll try that one out!
This is so helpful, thanks so much! A friend of mine who now owns 4 different local retail locations also mentioned checking the ceiling – I think that’s something that a new retail owner could easily overlook, but would be a major problem later on!
I don’t know all that much about the commercial real estate industry but this article really opened up my eyes. I truly feel that contacting Jason would be a great move for me and plan on doing so. He appears to be very educated and creative and that is what you need in your negotiations and big decisions. Talk to you soon Jason.
Mallory,
Looking at the ceiling tiles are important because it could tell you whether or not you have a roof leak. 9 times out of 10, any water discoloration on tiles is due to condensation from HVAC ductwork or water lines, instead of a roof leak. Trust me when I say you’ll know the difference between a roof leak and just some condensation!
Justin, thank you for the kind words, I look forward to talking with you more. I have been in this business for 10 years now. Please feel free to contact me at 847-870-8585 or via email if you would like to discuss further any retail opportunities I may have for you. Our office has about 150 listings all over Chicago and the suburbs, in addition to the Tenant represenation we have as well.
Very interesting topic. A few notes of advice, Landlord’s are willing to do short term leases, but are not as flexible on the rent due to the short length of the lease. Simone, a Right of First Refusal only works on a purchase, I am thinking you meant that to have OPTIONS to renew the lease?
Here’s what Landlord’s historically have been looking for when Tenants have come calling for reductions in rent. In 2009, our business was heavy on rent reductions to keep retailers open and operating. All Landlord’s have required that the Tenant’s provide sales and financials of the business in order to “justify” a rent reduction. Better yet, it was more to “satisfy” the request since, keep in mind, that while the Tenants are suffering from this economy, so are the Landlord’s. What is unfortunate about this situation, is that if the Landlord has a mortgage, which most you will find still do, the Bank’s won’t allow them to reduce the monthly mortgage payments. So that money has to come from somewhere. It’s a very sticky situation to be in on both sides since the success depends on each other!!
I do encourage any Tenant that is struggling to talk to their Landlord. Trust me, Landlord’s are very receptive to good standing Tenant’s, you are the reason they own shopping centers.
A few tidbits to know: any reduction the Landlord may give in rent must be made up somewhere, generally at the end of the lease, so be prepared for that. Landlord’s may give free months of rent here and there, but will extend your lease by the amount of month’s free they give. Marketing money could be available to you, but that depends on the size company of the Landlord and if they have the available funds to use towards marketing. That would benefit all in the shopping center.
Hi There,
The 20 steps are an excellent when thinking of adding reps to represent ones business, so thank you. Some of the things I’ve learned today I would not of think of. We’re about to publish our night wear and accessories line, an online store and will be needing to hire reps in the future.
The real expert in this area is Jane Ubell-Meyer who founded Buzz Bags and now runs Madison & Mulholland. She knows the celebrity POV having been a producer for Entertainment Tonight. If you want your goodies in a great swag bag or at an Emmy event, she does it right. http://www.madisonandmulholland.com
online shopping is very exciting because you do not need to go on a shopping store to purchase items.,,;
i am always watching for any product launch on the internet as i am a gadget addict myself…’
Found this great post while surfing the internet and by no means found any interesting write-up like yours. Truly liked the way you wrote this and I just love the dress.