10 Tips To Expanding Your Retail Store

By Author: Jamie Hanson
Total Articles: 3534
Comment this article

Atlanta is the important commercial center of the southeastern United States, and Florida and Orlando are attractive tourist spots gaining immense popularity.. Trading industry is in great demand and retail space is available with striking features and 'A' grade amenities. Collect all information before starting a retail shop. Prior to entering into any deal with a landlord for retail space, it is best to find all the information and particulars. Without proper knowledge you may be a looser. The following tips will lead you in expanding your retail store in the above retail spaces.

Relocating: Relocating and expanding in the same area is loss. Your existing business will be disrupted during the phase of executing your move, in addition to the cost incurred for shifting. Old and dedicated customers may be lost.

Event of Default: An "event of default" arises when either party of a lease agreement do not perform as per the agreed terms. Most property owners include the right to terminate if the tenant defaults. This can be equally objective and subjective. Objective is regular and in time payment and subjective is ...
... out of agreed terms.

Non-Financial Event of Default: Lease agreements mention precisely what retail business the tenant will carry out in the leased retail space. Technically speaking, a slight deviation in the type of business is a violation, attracting "event of default" clause. In such cases the landlord can revoke the lease.

Financial Event of Default: Non-payment of rent is a financial "event of default". Chances are there that a month's rent may not have been paid due to a accounting error. But certain unreasonable landlords, instead of calling the tenant to inquire about the matter, simply issue a notice terminating the agreement and asking the tenant to vacate the premises within 30 days.

Reasonable Solution: A clause should be integrated in the lease agreement for the landlords to issue written notice to the tenant in the result of default and allow a reasonable period of time to correct the default.

If the Landlord Cannot Perform: The tenant should have the right to terminate the lease, if the landlord can't perform as per the stated terms of agreement, like providing basic amenities and parking space. This escape clause is essential for tenants to be secure.

Dispute Resolution: Resolving disputes between the tenant and landlord in district courts should be acceptable. But most landlords favor binding arbitration for disputes. In arbitration the tenant is at a disadvantage.

So, before leasing retail space, research the best practices, study the demographics of successful stores, identify the market for your store and carefully consult the lease. This will improve your chances of success.

To view more offers regarding Atlanta retail space view Century Retail on the web; together withSEO services company Click Response.