Skip to main content
No. of Recommendations: 1
desertdave: Start looking for a new (to you) location nearby, preferably in an older building.

Here's the catch: I have nearly three years to go on the lease. I located this business right on the edge (the "frontier" if you will) of the suburban part of Phoenix. Tons of houses going up, and no music lesson stores in the area. No competition to speak of, but a large demand for what we offer. If you go a few miles farther out of town, there are simply no suitable locations, other than similar brand-new suites or a waaaay more expensive maga-mall. Farther into town, and you have half a dozen music stores fighting over the same customers.

Yeah, I know, it's nice to have a prestige location, but that's not what your clients are paying for.

My clients are coming to me because my location is much closer to their home than my competitors. Believe me when I say that the location is prime: close to a major highway, on the border between two different school districts, near affluent neighborhoods, closer to these neighborhoods than competitors, and easy to find. Even moving across the street or down the block wouldn't solve the problem, since the rental rates aren't any lower.

They won't be interested in your excuses and you shouldn't be interested in your landlord's excuses.

That's a snappy one-liner, but isn't of much use. My lease specifies that I pay the NNN fees which include property tax, so I'm pretty much stuck with it.

Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.