Great opportunities during troubling times.

 

Off-Price retail is bucking the current downward trend. With record unemployment and those still working worried about their jobs, more people are surviving by finding bargains in everything from food to clothing.

 

It’s time to rethink the unwritten rules of partnerships between retailer, landlord, and vendor. Now more then ever, these relationships are important for everyone to endure these hard times.

 

In today’s economic and business climate, you can think differently.  Now is the time to position your company for the future. Integrate these three tips into your immediate business and retail expansion plans to make the most of rare opportunities. When the turnaround happens – and it will – you will have stores in prime locations and contracts with affordable rents.

 

Past challenges of opening stores - like finding the perfect location, securing affordable occupancy costs and staffing reliable, honest personnel – are different now. They are within reach!

 

o           Leveraging negotiations with landlords:  Landlords are willing to do almost anything to fill their many vacant spaces. Why not ask for several months of free rent or tenant improvement dollars for build out?

o           Finding the perfect location:  With retail chains going out of business or down sizing, many prime locations are readily available, compared to a few months ago.

o           Tapping into an expansive personnel pool:  Because stores are closing and more staffers are losing jobs, you have an abundance of qualified people available for almost every position -- from cashiers and stockers to managers and DM’s. This means you will save time and money on training. 

Remember, when times are good, no one is giving anything away.  Times may be tough, but retailers are empowered to emerge stronger.