- Hi, I am looking at leasing a shop on a 3 by 3 by 3 term.I have been advised – as it is a new business – to get a 1 by 2 by 3 etc term but the landlord is not open to that. Any advice, as initially 3 years seems too much?
- Reply To: Hi, I am looking at leasing a shop on a 3 by 3 by 3 term.I have been advised – as it is a new business – to get a 1 by 2 by 3 etc term but the landlord is not open to that. Any advice, as initially 3 years seems too much?
Reply submitted 27/05/21 @ 08:22am::
Morena Denise – these leaps of faith are super hard while you also try and play the game of negotiation. I figure you can only ‘change’ the mind of your landlord if you can persuade him/her/it to your side / your thinking. Landlords always want term and want certainty. How do you turn that around? You have to find a way to develop a relationship and have a go. If you can’t get them to the table to hear your side, then your decision is to walk and wait or take the leap of faith.
Many founders and business owners make that leap, even when they don’t have 100% certainty that they can make it – but it is a leap of faith, and you can end up liable – so you just have to be clear in your approach how much risk you are prepared to take on.
Whenever I don’t seem to be getting my way in a contract negotiation, I try to change the angle, I try to change the approach, I try to form a relationship – I use guile, I use humour, I use whatever that helps ‘humanize’ and get the landlord to see ‘I am worth backing’ – sometimes it works, many times it does not.
See how you go, and you know, if you can’t get flex, walk away and wait for the right time and the right landlord.