Like all long term relationships, your feelings toward your business will change and evolve over time. I don't know a seasoned retailer who doesn't have a big ol' mixed bag of feelings about their business. Few things in life can bring so much joy and frustration, pride and defeat - sometimes in a single day.

For retailers just starting out, it can be confusing and a little scary when they start feeling REAL feelings (other than excitement and joy) about their budding business. Is it time to throw in the towel? Probably not.

Go with me here on a little analogy trip...

The romance starts with butterflies and flirting: What if instead of counting these beans all day, I finally open...

One of us at Pedal is in full wedding-planning mode, and the other is mid-way through year eight of marriage. We LOVE using the marriage metaphor for leasing, because this sh!t is SERIOUS, and it's not always pretty.

Here's how we see the leasing process through this exceedingly relevant lens:

Writing your business plan is an exercise in self-exploration. It's your time to travel through Europe with all your belongings on your back, drinking cheap wine, and going to that sketchy club with Franz-with-the-hair from Bruges. When you come back home, you'll return to your life, but you'll know yourself (and probably some other people) a whole lot better.

Okay, so this "self-exploration" isn'...

Are Free Rent and TIs a Scam?

When I studied abroad in Florence, one of the very first things our professoressa told us about Italy was that "niente è libero" - nothing is free. (She also taught us that bottled water is more expensive than wine, and to always carry proper bus fare.)

All these years later, I still remember it, and I feel my "niente è libero" spidey senses tingling when I see an offer that seems too good to be true.

Like a free drink from a handsome stranger at the discoteca. Like a pair of very real looking Ferragamos selling for a fraction of MSRP. Like when a retail landlord offers TI ($$ towards your buildout) or free rent at the start of your lease.

Are landlord...

Maybe you’ve been managing coffee shops for years, made a billion cortados, can schedule your staff in your sleep, and now you’re ready to strike out on your own. Or maybe you’re done with corporate life, and your great resignation and passion for nitro cold brews has ignited your dreams of owning your own coffee shop. Wherever you’re starting, you need to know how to open a coffee shop like a pro, even if it’s your first time.

Here are five simple rules to opening a coffee shop without making rookie mistakes.

Rule #1: Have a business plan with financial projections.

If you’re more comfortable dialing in gorgeous washed process Ethiopian coffees than creating financial models, that’s okay...

You already know that thinking about and planning for the cost of construction is a fundamental step in opening your retail space. We talk about buildout costs all the time at Pedal, and one challenge that we often encounter is the common misconception that a “second generation” space is always going to be a less expensive endeavor. 

First, a little real estate vocab lesson. “Second generation” spaces are those that were previously built out and have already housed an operating business for a period of time -- sometimes for many years, and sometimes only briefly. So while it may seem that a “second gen” space would afford a quick and cheap way to get in and start operating, looks can often ...