Four Things Every Retailer Should Do Before Signing a Lease | Episode 148

Show Notes:

It’s easy for us as passionate retailers to quickly fall in love with the “perfect” space and location, but how do we know it’s the right business move? In this episode, I’ll talk you through four things you need to know and do before signing a lease for your retail business.

As a retail coach and the daughter of a father who was a retail leasing “guru”, I can share from experience that I have seen a lot of lease agreements go sideways or have surprises. 

Here are a few things shop owners need to consider when leasing a new location:

1. Set a budget.

Talk to leasing agents regarding price/square foot, average rental prices in the area you are looking to open a shop in. Be aware of what leasehold improvements you will want/need to make.

2. Do your due diligence.

What can you negotiate?

  • Lease length
  • Rent increases
  • Allowances

What should you look for in the lease that you might miss?

  • Hidden costs
  • Utilities/Internet
  • Tax/Insurance requirements

3. Be sure everything is in writing and have a mentor and/or professional look it over.

4. Know what YOU can afford.

Do you know what % of your gross sales should go to rent, or how much you will need to make to pay that rent? I share that industry average % and more in this episode.

“Our heart can convince our head of anything, so we want to make sure it doesn’t convince us to get into trouble.  So put your CEO hat on and your heart and head can have a conversation with all of the right information.” – Wendy Batten

By following these steps, retail business owners can make an informed decision about leasing a space that aligns with their budget and business goals.


Listen on:  Apple Podcasts |Spotify | Radio Republic | YouTube | PlayerFM | Stitcher | iHeartRadio

Do these things before you sign a lease wendy batten creative shop talk podcast
  • Pinterest
  • Facebook

Don’t forget to leave a review or star rating!


Resources Mentioned:

Retailer’s Inner Circle
Level Up Mastermind
My signature course: Retail Made Simple

Related podcasts we think you’d like:

Episode 22 – 10 Things to Consider Before You Open a Retail Business

Episode 62 – Three Pitfalls to Watch Out For So You Don’t Lose Your Business

Episode 89 – Money Talk & Mindset with Profits First Coach April Stroink

More Support from Wendy:

Retailer’s Inner Circle – Join Wendy inside the best retailer’s community

Wendy’s FREE Resources for shop owners 

Hang out and connect with Wendy on IG 

More ways to connect  with Wendy  

Retail Made Simple – Wendy’s on demand course for shop owners wanting more from their business


Truth…I never know what to call myself. Coach, mentor, cheerleader? What I am, is a champion for small shop owners. I want to help, support and educate retailers that are driven and passionate about their dream business. I want to help them succeed.


Subscribe Now

Subscribe to Creative Shop Talk so you never miss an episode covering the topics most important to creative retailers.

Share Some Love

Click here to review, select “Ratings and Reviews” and “Write a Review”. I may highlight you on an upcoming episode. Make sure you leave your business name, Instagram handle and location so I can give your shop a shoutout. 

Keep on listening …
How to Reframe Your Mindset on Competition | Episode 147

How to Reframe Your Mindset on Competition | Episode 147

Show Notes: They say success is 80% mindset, but what happens when factors outside of your control (in this episode we will talk specifically about competition) leave you feeling defeated?  How can you get your mindset back to good? In this episode, I’m going to talk...

read more

Join the Conversation!

Thousands of independent shop owners have signed up to receive Wendy’s latest industry news and business help delivered straight to your inbox! Join us!

Weekly emails with news your business needs.

Pin It on Pinterest