Opening your first retail location is a lot like having a first baby. The experience takes over your brain and consumes your world.

Though my first pregnancy in 2023-24 feels like ancient history thanks to the fog of parenthood, I remember it all too well. I counted down to every appointment, my husband attended them all, and I recounted them in detail to my mother. (If memory serves, Sheila even attended an appointment! All small businesses are family businesses, amirite?) I read books, took e-courses, traveled to the end of the internet to find the perfect glider-rocker, and you better believe I had my hospital bag ready six weeks before my due date.

I see something very si...

This is probably not news to you, but since we send these newsletters every week, I basically move through life asking myself how to make this thing I [saw / heard / experienced] into content that at least mildly connects to retail real estate. When I find something that provides multiple angles, I’m thrilled. So thank you, Disney and Taylor Swift, for making the six-part docuseries The End of An Era about the record-breaking The Eras Tour. Also, thanks to my sister who told me I should watch it and that I’d probably cry. She was right about both. 

To refresh your memory, the tour included 149 shows in 51 cities on 5 continents over the course of 21 months. At each performance, Taylor an...

Most of us grow up learning various life skills from our parents. Some of those skills are critically important, like a sense of humor or how to apologize. Some are more practical, like how to purify water from a stream or power wash vinyl siding. 

In my family, my sister and I learned a lot of things growing up, but “practical” skills? Debatable. I’m not sure that anyone ever saved money or survived in the woods by knowing all the words to Cats! or where Vermeer lived (Delft!) So having grown up in a home where DIY projects were pretty much limited to framing pictures and re-covering dining room chairs, you can infer that the world of commercial construction was pretty unfamiliar.



Needless ...

You probably already know that the cost of building out a retail space is often the single largest line item in a pre-opening budget. The fact of the matter is that there’s not a whole lot to be done about this. If you need to modify a space to suit your business, you’re going to spend some serious cash — the more dramatic the changes, the more dramatically you’ll need to dig into your wallet.

If you’re do any sort of construction work, many of the costs will be beyond your (and even your contractors’) control. Every commercial contractor is working with the same framework: labor, materials, overhead, and profit. Remember, they’re running businesses, too.

So, even though there may not be a...

Many first-time retailers are pretty surprised to find out that it takes such a looooong time to sign a lease and get open. Some even think, “oh wow, that’s like being pregnant with a baby,” but they are wrong, because it’s really like being pregnant with a donkey. How do we know this? We googled it. Turns out, donkeys have a gestation period of 11 - 15 months (also — unrelated but fascinating — a female donkey is called a jenny.)

Anyhow, if you can get your lease signed in the time it takes to bake a human baby cake, good for you! But it’s more typical for you to be on burro-ed time (fair warning - more donkey puns coming.)

There are at least four distinct stages in the process, and these...