Mindset is everything, right? And without a doubt, your mindset when it comes to finding and negotiating your brick-and-mortar lease is key.

Over the last few years, we’ve observed two different approaches that remind us of two deeply unpleasant bureaucratic experiences. What are these experiences? They’re going to the DMV, and going to court.

We know it sounds a little ridiculous, but go with us here, because you know we love a leasing metaphor, and we think this one works even if you’ve only been to court on TV.

So as we were saying…

In some ways, visits to court and the DMV are very similar:

They both have vending machines
The both require a lot of boring paperwork
The...

If I had a dollar for every time an aspiring retailer told me they didn’t have their startup budget solidified because “it’s impossible to know until I find the right space,” I’d probably have a downpayment on a vacation home.


Nailing down a budget for a retail space feels impossible if you’ve never rented a space before, but here’s a pro tip: 

✨ The space does not determine your budget – your budget determines the space. ✨


Imagine if I called my residential realtor and said that I was in the market for a new home. And when she asked me for my budget, I responded, “well, I really don’t know yet because it all depends on the space.” 

💸 Should she show me a $4M historic home tha...

We love reality television. Not so much for the colorful content that allows us to shut our brains off, but for the wealth of material it offers to help us explain how the retail real estate process works.

So in today’s episode newsletter, we’ll turn to Selling Sunset and The Bachelor* because even though Selling Sunset is the show about real estate, you actually want to approach your retail real estate deal like you’re on The Bachelor.

In Selling Sunset (and residential real estate), successful tours always end with, “if you want this house, you need to put in an offer today because tomorrow might be too late!” There is time pressure to commit NOW lest you lose the opportunity entir...

Let’s say that Dolly Parton is hosting a party and you’re the guest of honor. All eyes will be on you. You have to find the perfect outfit, duh. Your outfit has to match the vibe of the event, you need to feel fantastic in it, and you know that the general public will see the photos and feel quite confident expressing their opinions until the end of time.

🛍  Where would you go to find this outfit? 

You’d go to a store where a knowledgeable human being will work one-on-one with you to show you options that match your requirements, where they will help you in the fitting room to assess what can and cannot be tailored, and where they can pull stock from the back that just arrived, or fr...

Partnerships of all kinds are tricky, and we learn this fact of life young.

My daughter, Alice, went from an S+ to an S on “cooperates well with others” on her third grade report card this past trimester, and when I asked her about it, she said, “that’s because SARAH was my partner!”

Reality Show Candy GIF by Children's Miracle Network Hospitals

By the time we’re starting our own businesses, we’ve experienced challenging partnerships (both professional and romantic) many times over, and we know what qualities to look for in a potential business partner. But opening and running a business throws real challenges at even the most simpatico partnerships, and you know what can REALLY ...

Dear Pedal,

I’m opening a bakery and I would LOVE some advice on how to negotiate rents. I read your newsletter so I know the number I see on a flyer is supposed to be negotiated, but how do I know how much to negotiate it? I definitely want to get the best deal possible but I HATE haggling!

Help please!

Bashful Baker [not their real name]

Dear Bashful Baker,

THANK YOU for writing in to us - it’s a great question, so let’s dive in.

My first pro tip is to use a broker - come on, you knew I was going to say that! Brokers negotiate retail deals all day every day - they will have a good sense of what is “market rate,” meaning, the rental rates of similar spaces nearby. ...

Retail rents are HIGHLY negotiable. On a scale where 1 is Taxes and 10 is Facebook Marketplace, I’d put retail rent at a solid 9. Since rent is one of the highest fixed costs for brick-and-mortar businesses, it’s worth the upfront investment to negotiate it down. You will absolutely have to spend some money to do this (brokers, lawyers, architects etc.) BUT this “one weird trick” is actually free, and invaluable.

I’m talking about preparing and practicing a killer “Elevator Pitch.” For those who spend elevator rides frantically ping-ponging their eyes around to avoid the catastrophe of making eye contact with a stranger, I’ll explain. An Elevator Pitch is a clear, confident and compellin...

Last fall, I fell deeply in love with a dress. It was no ordinary dress; it was an ankle-length, sleeveless, v-neck and v-back, empire-waisted beauty with a geometric print in “peacock” and “cinnabar.” And the designer is German, and I got a 5 on my AP German exam, so that, too.

I saw the dress on the e-comm shop of my favorite brick-and-mortar store, so if I bought this dress I would not only be mind-blowingly fabulous, but I’d also be supporting an independent retailer. Aren’t I selfless?!

But there were two minor problems. One, I had literally no occasion to warrant purchasing a new dress, and two, there was no way I could afford this dress. But you know what we say over here — whe...