Making your location work

by Steve Pruitt

Q: I have been in the same mall location for around a decade now, but over the last few years traffic has really died down, and I am stuck in my lease for another year. Should I start planning a move to a higher traffic area, or is there something I can do to make this location work?

A: Yes, there is probably something can do to make your mall location work — get the rent lowered! Old locations should not demand the rent that new locations do. If lower expenses are not an option, you have to follow the traffic. Remember: Location, Location, Location. You have to either follow the money or spend more money to bring the traffic to you. By getting the rent lowered, you can free up more marketing dollars.