🚫 Don't call the number on a "For Lease" sign brokers common misconceptions old school cre startups Dec 20, 2022

If you've ever called the number on a "For Lease" sign, we're guessing the conversation you had was pretty confusing.

Maybe it went a little something like this...

You: "Hi, I was calling to get some information on the store I saw on Main Street that's empty, next to the flower shop?"

Mystery broker (let's call him "Kevin"): "OK?"

You: "Um, yeah, well, is it available?"

Kevin: "Yeah."

You: "Uhh, OK, how much is the rent?"

Kevin: "It's $40 a foot."

You: "Oh, OK...how much is it per month?"

Kevin: "Well, it's $40 a foot plus triple nets and it's about 2,000 square feet. Can you send me your business plan?"

You: "Wait - I'm not even sure if I'm interested, I don't understand how much ...

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Searching for "the one" ☝️ business planning common misconceptions money site selection Oct 25, 2022

We've got some thoughts on searching for the "one" perfect retail space, and why the entire premise is misguided and potentially derailing.

 

We've all seen fictionalized accounts of a lovelorn someone searching for the "perfect" partner. You know the ones -- we watch as the protagonist goes on an endless string of first and second dates, only to determine that no suitor is right, much to the frustration of their friends and family who keep urging them to stop being so picky. Like Molly's friends and family in Insecure before things got serious with Taurean.

 

yvonne orji bad date GIF by Insecure on HBO

 

Is this entire concept pretty antiquated and ridiculous? Yes. Is it relevant to retail real estate? Also, yes.

 

You see, ...

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Unrelated: residential and commercial real estate 🏘️ common misconceptions timeline Aug 09, 2022

Yurt, studio-apartment, mansion, mid-century split level…whatever. Most of us are lucky enough to have somewhere to call home. 🏠 That means that everyone comes to the table with a varying level of real estate knowledge. Have you rented an apartment? Bought a house? Binge watched House Hunters on HGTV (who hasn’t?) If that’s the case, you’ve brushed up against the residential real estate world.

 

So many people who come to us eager to start a business want to transpose their residential knowledge into this new commercial context.

 

I'm here today to break down why you should leave your residential baggage at home when searching for retail space.

 

Here are a few of the biggies we hear a...

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Through sickness and in health... 💍 common misconceptions startups timeline Apr 26, 2022

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.

Reese Witherspoon Movie GIF

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'...

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