{"id":57173,"date":"2024-10-25T11:57:34","date_gmt":"2024-10-25T16:57:34","guid":{"rendered":"https:\/\/theboutiquehub.com\/?p=57173"},"modified":"2024-11-19T11:42:53","modified_gmt":"2024-11-19T17:42:53","slug":"negotiating-your-lease-the-3-essentials-every-retailer-must-know","status":"publish","type":"post","link":"https:\/\/theboutiquehub.com\/blog\/negotiating-your-lease-the-3-essentials-every-retailer-must-know\/","title":{"rendered":"Negotiating Your Lease: The 3 Essentials Every Retailer Must Know"},"content":{"rendered":"\n<iframe title=\"Embed Player\" src=\"https:\/\/play.libsyn.com\/embed\/episode\/id\/33588127\/height\/192\/theme\/modern\/size\/large\/thumbnail\/yes\/custom-color\/ffe0ff\/time-start\/00:00:00\/playlist-height\/200\/direction\/backward\/download\/yes\/font-color\/000000\" height=\"192\" width=\"100%\" scrolling=\"no\" allowfullscreen=\"\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" oallowfullscreen=\"true\" msallowfullscreen=\"true\" style=\"border: none;\"><\/iframe>\n\n\n\n<h1 class=\"wp-block-heading has-text-align-center\" id=\"h-apple-podcast-spotify-youtube\"><strong><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/five-minute-friday-negotiating-your-lease-the-3\/id1351990699?i=1000674427833\" target=\"_blank\" rel=\"noreferrer noopener\">APPLE PODCAST<\/a> | <a href=\"https:\/\/open.spotify.com\/episode\/70CSxNYXn8ck36EDkzmqDc?si=5KhLMou6SMmc5VJ7M20-Vg\" target=\"_blank\" rel=\"noreferrer noopener\">SPOTIFY<\/a> | <a href=\"https:\/\/youtu.be\/d2lIHzgZN2k\" target=\"_blank\" rel=\"noreferrer noopener\">YOUTUBE<\/a><\/strong><\/h1>\n\n\n\n<p>When opening or relocating a brick-and-mortar retail space, negotiating your lease is a critical step for setting up your business for success. Abby and Sheila from <a href=\"https:\/\/www.pedalretail.com\/\">Petal Retail Advisors<\/a>, experts in retail real estate, share their top three tips for negotiating your lease and why these steps can make or break your business.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"576\" height=\"1024\" src=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26-576x1024.png\" alt=\"\" class=\"wp-image-57174\" style=\"width:315px;height:auto\" srcset=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26-576x1024.png 576w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26-169x300.png 169w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26-768x1365.png 768w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26-864x1536.png 864w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2024\/10\/FMF-IG-Story-Podcast-26.png 1080w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-negotiating-your-lease-the-3-essentials-every-retailer-must-know\">Negotiating Your Lease: The 3 Essentials Every Retailer Must Know<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. <strong>Rent: Know What Works for Your Business<\/strong><\/h3>\n\n\n\n<p>The first and most obvious element to negotiate is the rent. But instead of focusing on finding the cheapest rent or comparing what your neighbors are paying, you need to base the rent on what is affordable for your business. A critical metric to consider is <strong>occupancy cost<\/strong>, which is the total rent divided by your revenue.<\/p>\n\n\n\n<p>For a healthy retail business, occupancy costs should be around <strong>10%<\/strong> of your revenue. For example, if you anticipate making $20,000 in monthly revenue, your rent should not exceed $2,000. Focus on finding a rent that supports your business\u2019s profitability rather than simply trying to score the lowest price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. <strong>Concessions: Get Creative with What You Ask For<\/strong><\/h3>\n\n\n\n<p>Concessions are incentives that landlords offer to make their space more appealing than competitors\u2019. Common lease concessions include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rent abatement (free rent):<\/strong> This is rent-free time after you\u2019ve opened for business.<\/li>\n\n\n\n<li><strong>Tenant improvements (TI):<\/strong> Financial contributions or construction assistance from the landlord to help with your buildout.<\/li>\n\n\n\n<li><strong>Broker\u2019s commission payment:<\/strong> Some landlords will cover the commission for your real estate broker.<\/li>\n<\/ul>\n\n\n\n<p>Landlords expect to negotiate concessions, and these offers are often baked into the deal. Don\u2019t be shy about asking for what you need to make the space work for you. Remember, the landlord isn\u2019t giving you something for free\u2014they\u2019re making these concessions with the expectation that your business will generate long-term rent payments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. <strong>Rent Commencement Date: When the Clock Starts Ticking<\/strong><\/h3>\n\n\n\n<p>One of the most overlooked but crucial aspects of your lease is the <strong>rent commencement date<\/strong>\u2014the day you are required to start paying rent. You should not be paying rent before your store is open for business. While you\u2019re building out the space, make sure that you negotiate a reasonable time frame between signing the lease and the rent commencement date.<\/p>\n\n\n\n<p>This timeline should factor in everything from construction delays to inventory arrivals or personal circumstances, like family obligations. Both you and the landlord want to ensure that your business is financially ready to pay rent when it opens, so don\u2019t overlook this vital point.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Bonus: You Have the Power to Negotiate<\/h3>\n\n\n\n<p>Even if you\u2019re new to the retail game, you have negotiating power. Independent retailers are what make downtowns and main streets vibrant and unique. Smart landlords know this and want to attract businesses like yours that add character to their property. Don\u2019t settle for the first offer you see\u2014negotiate a lease that sets your business up for success.<\/p>\n\n\n\n<p>For more tips on negotiating your lease, visit <a href=\"https:\/\/www.pedalretail.com\/\">Petal Retail Advisor&#8217;s on their websit<\/a>e. They\u2019re here to help you get a great deal and avoid costly real estate mistakes.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Five Minute Friday: Negotiating Your Lease: The 3 Essentials Every Retailer Must Know\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/d2lIHzgZN2k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-in-this-episode\">In This Episode<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.pedalretail.com\/\">Pedal Retail Advisors&nbsp;<\/a><\/p>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-let-s-connect-askashley\">Let&#8217;s Connect #AskAshley <\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Have a question or guest recommendation? Let us know your feedback directly <a href=\"https:\/\/theboutiquehub.typeform.com\/to\/LoSusCKq\" target=\"_blank\" rel=\"noreferrer noopener\">here! <\/a><\/strong><\/li>\n\n\n\n<li>Do you love the Boutique Chat Podcast?! Subscribe to our podcast and after that, leave us a review on<a href=\"https:\/\/itunes.apple.com\/us\/podcast\/boutique-chat\/id1351990699?mt=2\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;iTunes Apple Podcasts here<\/a>!<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-must-have-resources\">Must Have Resources<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Boutique Hub:&nbsp;&nbsp;<a href=\"http:\/\/theboutiquehub.com\/\">Website<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/facebook.com\/boutiquehub\">Facebook<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/instagram.com\/theboutiquehub\/\">Instagram<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/pinterest.com\/boutiquehubbusiness\/\">Pinterest<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/tiktok.com\/@theboutiquehub?lang=en\">TikTok<\/a>&nbsp;|&nbsp;<a href=\"https:\/\/www.youtube.com\/channel\/UCvhd0II4sh8IEVK6cWx6IDQ\">YouTube<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/summit\">Boutique Summit 2024<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/SMMB\">Small Business Marketing Handbook<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/hiring-bundle?utm_source=TheBoutiqueHub.com&amp;utm_medium=Website&amp;utm_campaign=Products+Courses\">Small Business Hiring Handbook&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/brand-owner-basics-sales-page-v2\">Brand Owner Basics Masterclass<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/tradeshow-handbook\">Tradeshow Marketing Handbook<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/go.theboutiquehub.com\/2024-tradeshow-calendar\">2024 Trade Show Calendar<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/retailbootcamp.mykajabi.com\/boutique-hub-black-1\">Boutique Hub Black<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/hubventory.com\/\">Hubventory.com<\/a><\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/go.theboutiquehub.com\/new-membership-join-page-blog\" target=\"_blank\" rel=\"noreferrer noopener\">Join The Boutique Hub<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-recent-posts\"><strong><em>Recent Posts:<\/em><\/strong><\/h2>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image\"><img decoding=\"async\" width=\"300\" height=\"169\" src=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2025\/12\/New-Blog-Covers-7-300x169.png\" class=\"attachment-medium size-medium wp-post-image\" alt=\"The Boutique Hub at MAGIC New York\" style=\"\" srcset=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2025\/12\/New-Blog-Covers-7-300x169.png 300w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2025\/12\/New-Blog-Covers-7-1024x576.png 1024w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2025\/12\/New-Blog-Covers-7-768x432.png 768w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2025\/12\/New-Blog-Covers-7.png 1280w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/theboutiquehub.com\/blog\/the-boutique-hub-at-magic-nyc\/\">The Boutique Hub at MAGIC New York<\/a><div class=\"wp-block-latest-posts__post-excerpt\">The Hub Team is heading to MAGIC New York again and we couldn&#8217;t be more excited! With over 320+ brands, you are sure to find more MAGIC in a (New York) minute!\u00a0<\/div><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><img decoding=\"async\" width=\"300\" height=\"169\" src=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/EDUCATION-HOW-TO-66-300x169.png\" class=\"attachment-medium size-medium wp-post-image\" alt=\"Is Your Boutique Quiet, or Is Your Space Pushing Customers Away?\" style=\"\" srcset=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/EDUCATION-HOW-TO-66-300x169.png 300w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/EDUCATION-HOW-TO-66-1024x576.png 1024w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/EDUCATION-HOW-TO-66-768x432.png 768w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/EDUCATION-HOW-TO-66.png 1280w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/theboutiquehub.com\/blog\/is-your-boutique-quiet-or-is-your-space-pushing-customers-away\/\">Is Your Boutique Quiet, or Is Your Space Pushing Customers Away?<\/a><div class=\"wp-block-latest-posts__post-excerpt\">January is slow. You already know that. But here\u2019s the uncomfortable question most boutique owners avoid asking: Is it the season or is it your store?\n\nThe start of a new year is the perfect time to take a hard look at your space. Not when you\u2019re knee-deep in shipments, slammed on weekends, and wishing you had time to fix things, but now. During the quiet. During the downtime. During the moment when changes are actually possible.<\/div><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"157\" src=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/5MF-BLOG-COVER-Podcast-14-300x157.png\" class=\"attachment-medium size-medium wp-post-image\" alt=\"The 13 Strategies Boutique Owners Need for 2026\" style=\"\" srcset=\"https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/5MF-BLOG-COVER-Podcast-14-300x157.png 300w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/5MF-BLOG-COVER-Podcast-14-1024x536.png 1024w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/5MF-BLOG-COVER-Podcast-14-768x402.png 768w, https:\/\/theboutiquehub.com\/wp-content\/uploads\/2026\/01\/5MF-BLOG-COVER-Podcast-14.png 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/theboutiquehub.com\/blog\/five-minute-friday-the-13-strategies-boutique-owners-need-for-2026\/\">Five Minute Friday: The 13 Strategies Boutique Owners Need for 2026<\/a><div class=\"wp-block-latest-posts__post-excerpt\">As we wrap up Season 7 of the Boutique Chat Podcast, I wanted to pause\u2014right where you&#8217;re listening\u2014and take an honest look at where the retail industry stands today and where it&#8217;s headed next. Based on 1,000&#8217;s of conversations with boutique owners over the past year, this episode breaks down 13 key focus areas that\u2026 <a class=\"wp-block-latest-posts__read-more\" href=\"https:\/\/theboutiquehub.com\/blog\/five-minute-friday-the-13-strategies-boutique-owners-need-for-2026\/\" rel=\"noopener noreferrer\">Read more<span class=\"screen-reader-text\">: Five Minute Friday: The 13 Strategies Boutique Owners Need for 2026<\/span><\/a><\/div><\/li>\n<\/ul>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When opening or relocating a brick-and-mortar retail space, negotiating your lease is a critical step for setting up your business for success. Abby and Sheila from Petal Retail Advisors, experts in retail real estate, share their top three tips for negotiating your lease and why these steps can make or break your business.<\/p>\n","protected":false},"author":13448,"featured_media":57175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":"","footnotes":""},"categories":[408],"tags":[126,7533,76,404,15,7534,7522,69],"class_list":["post-57173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boutiquechat","tag-boutiqueboss","tag-2024-planning","tag-boutique-business","tag-boutique-chat","tag-boutique-tips","tag-retail-in-2024","tag-small-business-marketing","tag-the-boutique-hub","pmpro-has-access"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Negotiating Your Lease: The 3 Essentials Every Retailer Must Know | The Boutique Hub<\/title>\n<meta name=\"description\" content=\"When opening or relocating a brick-and-mortar retail space, negotiating your lease is a critical step for setting up your business for success. 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