Low Lease Rates Benefit Small Business

by Paul Bensman
President, Details In Retail  and
Broker, Locations Real Estate & Investments

The retail real estate market continues to be weak – but that’s great news for business owners looking for retail space.  Leasing rates in many Detroit area markets are up to 40% less than rates quoted just one year ago.  Landlords who would only look at national chains before the downturn are increasingly willing to lease space to new start-ups and entrepreneurs.  This could be a once in a lifetime opportunity for small business owners.

Some economic indicators are already showing signs of light at the end of the tunnel – national home prices increased 3% last month.  This window of opportunity for small retailers to grab prime space at low rates won’t last forever.  Leasing rates should stay at these lower rates through the first quarter, or even the first half, of 2010.  With lower lease rates and a large pool of qualified employees in the market, now is the time to start that new venture or take your existing business to the next level.

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Two Word Answers to Common Business Problems

Most of the problems you encounter as a business owner can be fixed or prevented by two simple words.  Here’s my list of two-word answers.

Be Nice
In these tough economic times, it’s hard to imagine that there’s still bad customer service out there, but it’s true.  One thing I know from experience is that one snippy clerk or rude receptionist or arrogant sales rep can ruin your whole day and color your perception of an entire company.  In our rush, rush, rush lives, we have become so focused on ourselves, and all that we need to do, that we forget common courtesy.  (more…)

Thinking small – the resurgence of the local economy

Main Street America….

Time was, you lived in a town or city and you shopped where you lived.  You knew the shops, markets and restaurants, you knew the owners.  Now there’s a growing movement to reclaim our economic heritage.  We’ve done global.  Now more and more U.S. consumers are thinking local.

After decades of newer, shinier, bigger (so big your town won’t hold it) shopping venues, we’re heading home.  Back to goods made in our country and our state, back to locally grown food, back to neighborhood merchants.  Our zeal for more, more, more has given us less, less, less.  We’re ready for a change.  (more…)