October 10, 2017,
Finding a new retail space is a big decision, and when it comes to signing a lease, one clause (missing or added) can cost a retailer an exorbitant amount of money. In the May issue of Gifts and Decorative Accessories, retail coach Cinda Baxter laid out nine things to look out for when negotiating a new lease.
Among Baxter’s tips, she recommends including an exclusivity clause so that neighboring tenants won’t copy your lines or duplicate your success. Baxter said, “Create a simple, clear list of product categories and vendors that represent your core business, then include that in the exclusivity clause. Without it, you could easily find your neighbor duplicating your merchandise, hoping to poach revenue once you’ve proven it worthy.”
For more insights on lease negotiations from Cinda Baxter, read her column Retail Enabler in the May issue.