Remember the Presidential Fitness Test from elementary school? If you’re reading this newsletter, the answer is most likely, yes. Evidently the program was replaced in 2013, but my daughter’s PE curriculum still includes a nearly identical version, so it’s very much a part of my life again.

Since I didn’t actually enjoy exercise of any form until my mid 30’s (thank you, Peloton), those fitness tests were somewhere between annoying and dreadful. I recall sit-and-reach being kinda fun, but I didn’t like the mile run, and I downright hated the pull-ups. Even when we got to do the remedial version, the “flexed-arm-hang,” I could never, ever seem to do it. I wasn’t alone. I’m pretty sure that...

The other day I opened my fridge and suffered an olfactory assault. It wasn't the worst mystery odor I’d ever smelled, but it was pretty bad. I hadn’t noticed anything the day before, so it seemed to have come on fast and strong. 

It wasn’t immediately obvious to me what was causing the smell, but it could have been a couple things — all of which I’ll blame on my husband, since he’s the only one who cooks for a family of six when there are only three of us at the table. So the only thing to do was to proceed with the unpleasant #adulting task of sniffing everything until you find the culprit. It was the leftovers in the Dutch oven.

I won’t attempt to pathologize why my brain doe...

Top on the list of New Business Misconceptions is “you should never sign a personal guaranty.” It sits right up there with “I can’t make a budget until I find the space” and “I won’t need to pull permits.” The personal guaranty has a bad reputation partly because it is, in fact, a little scary; but for small businesses, it’s incredibly common and often inevitable, no matter what the local celeb chef told you in between bench presses.

⚖️ Quick reminder here — although Abby grew up with two attorneys as parents, and I’m deeply familiar with the South Carolina justice system thanks to the Murdaugh Murders Podcast, we’re not actually attorneys, and this is not legal advice. 

Okay, consid...

We all know that Ben Franklin was right about death and taxes, but there’s another certainty of life that he left out. If I could Bill and Ted my way back to the 1790’s (no thanks), I think he’d agree that when you want something is rarely when you can have it...if you can have it at all. 

Obviously I’m not talking about anything money can buy, since you can buy anything on the internet and have it within 2-3 business days. But for the big stuff that really matters --  security, health, relationships -- as hard as we will something into existence, we have limited control. 

All we can do is dig deep and have hope and patience. Well, that’s exactly what Cara and Travis Loving did.

 ...

Not long ago, I patronized a child-operated bake sale. Technically, she was a teen, but as anyone who knows me can attest, if someone too young to drive is selling creations at a table in public, I’m buying. Now this particular bake sale was a fundraiser, not an emerging small business, but I’m flexible. 
 

When I saw the email announcement on Thursday of said bake sale on Sunday, I planned ahead to get cash and show up on time. I am an easy and enthusiastic customer.

So on the big day, I approached the bake sale table. It was positioned front and center in a lobby swarming with children and parents – truly top notch real estate. But right from the jump, I was paralyzed with anxiety and d...

Percentage rent has a PR problem. It’s right up there with the personal guaranty on the list of concepts retailers love to hate... but should it be? The initial feeling of “oh haaaale no” is tough to overcome, but just like colonoscopies and unmedicated childbirth, once you learn how it really works, it’s not as bad as it sounds…in fact, a lot of people do it willingly.

💡 ICYMI there are two types of percentage rent. One is where the rent payment is a set percentage of revenues each month instead of a fixed base rent. Tenants love this, and they should. We’re talking about the other percentage rent – where above a certain threshold, a tenant pays some additional rent on top of their r...

If you’re a regular reader of this newsletter, you’ll know that there’s a solid 50% chance that I’ll have written this on a train, and a 10% chance that I’m going to use one of my favorite podcasts to make a point about real estate. Well, today’s no exception. 

I actually only have three true favorite podcasts. I already wrote Acquired a month ago. The second is about the Murdaugh murders*, and I haven’t yet found a not-completely-inappropriate way to relate that topic to real estate. But the third one continues to deliver gems.

So the moment I listened to episode #2 of The Rest is History’s four-part series on Greek myths, this newsletter was bursting fully-formed like Athena from Zeus...

We talked the other week about the critical role that project managers play in the buildout process protecting your budget, timeline, and sanity. You absolutely must have an experienced, professional buildout team if you want any hope of making it through in one piece. But even with the best teams in place, there are a host of unwelcome surprises along the way that can only be solved with history’s oldest salve: money.

Modifying any physical space – turning it from one look and use into another – is not a matter of imagination. It’s a very real process that’s ruled by physics and building code. 

So even in the best cases where the pre-lease construction due diligence has been duly done, te...