[Jewelry making - Article 00072] - Re: [Orchid] [Biz Talk] Gross receipts you pay for your rent?

[Daniel R. Spirer]

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    Cynthia, It's my opinion that you might as well be in a mall if you
    are going to give the landlord a piece of your gross, but in a mall
    they actually pay for things like advertising as part of the deal. 
    There are a host of problems that could crop up with a deal like
    this:  percentage of what sales?--what happens if you take in
    consignment or are forced to sell something for an extremely low
    markup?  What happens if the landlord decides you aren't selling
    enough to cover his piece of the rent and throws you out?  You've set
    up a storefront and you lose most of your investment because of
    this. I can tell you from experience (having been a landlord briefly
    as well) that there is no creative element of being a landlord, and
    that the best landlord to have is one who has the absolute least to
    do with your business. Ultimately setting up anything that is vague
    or iffy will be a negative situation in the long run.  My best
    advice:  Have the landlord set a rental figure.  Sign a lease and pay
    it.  Period. When it comes to property it all comes down to money,
    and anything that isn't in writing will end up costing the lessee
    (you), not the lessor.  Incidentally it is not up to you to set the
    rental figures--it's up to the landlord.  If you then want to
    negotiate that figure you can try. 

Daniel R. Spirer, GG
Spirer Somes Jewelers
1794 Massachusetts Ave
Cambridge, MA 02140
617-491-6000
spirersomes AT earthlink.net
www.spirersomes.com



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