✌️ Walking away from a deal can feel great, too real estate retail reality site selection space search May 14, 2024

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?!


Colin Powell GIF by GIPHY News


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...

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Salt & Souls: A true story of near perfection ✨ client success pedal startups Apr 30, 2024
   

Just this past weekend, we got to do one of our most favorite parts of our work with brokerage clients...Pedal Last Mile! Months (sometimes many) after the lease is signed, and the buildout is coming to a close, we spend a day with our client helping with the final tasks before opening. We make swag bags, we steam clothes, we assemble shelves, we organize pickles...we do it all!

It was such a pleasure to spend the day with Jenna Morcos as she pushes through the "last mile" to opening day of Salt and Souls, Charlotte's premier halotherapy (salt cave) day spa.

We always have fun, but this time was especially fun since we got to bring our (actually very handy) kids to help.

🛠

In ...

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Keep your lawyer looped in, ⚖️ save money in lease negotiations common misconceptions leases legal support money negotiations Apr 16, 2024

I’ll say it – everyone loves to hate lawyers. They’re right up there with telemarketers and politicians on the list of most maligned professionals, and when you’re scraping together the cash to fund your Capital Budget, legal fees get a lot of scrutiny. And we get it – every dollar counts!

 

You cannot forgo an attorney for your lease. This has been the subject of numerous other newsletters, and it’s a requirement in our First Location Program. (Don’t believe me? Reply to this email and we’ll happily tell you why.)

 

You CAN manage your legal fees, but here’s the thing - most people actually do it wrong and end up i) spending more, ii) getting a worse lease, or iii) both. In many situati...

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Long, hard, and messy: birthing leases and babies 👶 brokers leases negotiations real estate Apr 02, 2024

It’s the beginning of spring, and over here at Pedal we’re about to begin Babywatch 2024. In case you missed the news, or if you’re reading this like “why are they talking about a baby?” I’ll catch you up to speed.

 

Abby, Pedal cofounder and retail broker extraordinaire, is a few weeks away from having a baby. Her FIRST baby. So of course, I am very excited to welcome Abby into the club of women with no shame and limited bladder control on trampolines.

 

Downton Abbey Shame GIF by MASTERPIECE | PBS

 

As you can imagine, in addition to our regular constant chatter about retail real estate, we’ve also been talking A LOT about childbirth and babies these past many months.

 

[If you’re now asking yourself, “oh my god, is this com...

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🗣 Real talk, always common misconceptions retail reality startups Mar 05, 2024

In our last post, we told you we're firm believers that where there's a will there's a way. But, lest you think we're starry-eyed optimists, there is a part two to this philosophy. Like the yuzu to our mayo, these seemingly opposite ideas work together to create something amazing.

That part two is our Pedal promise -

Real Talk, Always
We will always tell you the truth, even when it's hard to hear and say. You deserve to know the good, the bad, and the ugly so you can make decisions with confidence. We think that honesty is the best policy, and we're sticking to it.

If you've ever worked in a service industry, you understand the temptation to keep your customers happy by telling them what t...

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Jurisdiction Boutique: A true story of passion 👩‍⚖️ client success site selection small business Feb 20, 2024

Every new Pedal Retailer comes into the First Location Program in a different place – some have a crystal clear vision of their business in the space we’ll secure together, and for others, it’s hazy. For most people, the vision is partly hazy with some very clear spots.


 

Fog GIF

 

When Pedal Retailer Jessica started FLP to find a brick-and-mortar home for Jurisdiction, her online women’s clothing boutique, she was on the clearer side of the spectrum.

 

She knew her target market and customer intimately – she was her own target customer, and the pain of trying to shop in her hometown of Potomac, MD was a constant frustration for her and her friends. Jessica grew up in Potomac, so she was not...

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The love that only brick and mortar gives 💞 retail reality small business startups Feb 13, 2024

Tomorrow is Valentine's Day. So as a prepared parent, I ordered a “classroom” box of Ring Pop Tongue Painters for my daughter’s third grade class. Yes, I Amazoned the purchase. Yes, these “tongue painters” probably have some gross chemicals in them. Don’t judge me. Sometimes I eat Doritos, too.


Music Video GIF by Epitaph Records


These “classroom” Ring Pops come in packaging that allows you to Sharpie on each kid’s name, which I suppose makes the distribution more personal. I didn’t spend the extra $8 on the matching cards that let your kid write individual notes. Alice had to write “unique and specific” notes to each of her classmates in second grade, and it was a reeeeeeaaaaal challenge for a girl who inherited my mother-...

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🥬 The essential ingredient to opening a new retail business business planning common misconceptions retail reality startups Feb 06, 2024

Regular readers of this newsletter know that opening a retail space is hard work - and running one is even harder. And yet, so many of us are determined enough to attempt it - but how can you know whether you have what you need to pull it off?

We get asked this question all the time - "I have a dream of opening a [coffee shop/ crossfit gym/ vegan steakhouse], but I don't have any [money/ experience/ connections with seitan distributors]. Can I do this?

Our answer is always the same - yes, you can!

We are big believers that where there's a will there's a way. The road may not be easy, or obvious - in fact, it rarely is. Fundraising is awkward at best, defeating at worst. Recruiting experie...

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