Not long ago, I patronized a child-operated bake sale. Technically, she was a teen, but as anyone who knows me can attest, if someone too young to drive is selling creations at a table in public, I’m buying. Now this particular bake sale was a fundraiser, not an emerging small business, but I’m flexible. 
 

When I saw the email announcement on Thursday of said bake sale on Sunday, I planned ahead to get cash and show up on time. I am an easy and enthusiastic customer.

So on the big day, I approached the bake sale table. It was positioned front and center in a lobby swarming with children and parents – truly top notch real estate. But right from the jump, I was paralyzed with anxiety and d...

We talked the other week about the critical role that project managers play in the buildout process protecting your budget, timeline, and sanity. You absolutely must have an experienced, professional buildout team if you want any hope of making it through in one piece. But even with the best teams in place, there are a host of unwelcome surprises along the way that can only be solved with history’s oldest salve: money.

Modifying any physical space – turning it from one look and use into another – is not a matter of imagination. It’s a very real process that’s ruled by physics and building code. 

So even in the best cases where the pre-lease construction due diligence has been duly done, te...

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. ...