60 – National Bicycle Dealers Assoc.: Prospering in Today’s Shifting Environment

Good morning and welcome to Episode 60 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Craig welcomes guest Todd Grant of the
National Bicycle Dealers Association. The NBDA boasts 1000 members and 20 years in leading bicycle shops.

When it comes to retail bicycle shops, a large space needed to show and sell bikes. You need a lot of inventory and bikes aren’t small. If we examine the needs of bike shops over time, the size needs are the same but recently the habits of the consumers have changed. Consumers want to have more things available to them. Bicycle dealers are opting for larger spaces so there can be more inventory on the floor, even at the effect of smaller back rooms.

The typical bike store does about a million dollars of revenue per year. And, that’s in about 3500-5000 square feet, which is a little bigger than they used to be.

The smaller back room does make the receiving, assembly and maintenance of bikes a little tricky, so bicyble dealers are having to take all things into consideration, as repair income is about 15% of their business.

Yelp is changing the market a little bit, too. When someone is a new city, instead of noticing a bike store on main street, they’ll just look up a bike store on Yelp and go to it, whether it’s on main street or off the beaten track. So, it would seem that, thanks to Yelp, location isn’t as critical as it used to be.

The great thing about the bike industry is that it is an industry of abundance. Bike dealers aren’t too worried about where you buy your first bike, because they know that you’ll come to them eventually. The more bikers in the world, the better. They just want people to ride.

Thanks for tuning in and have a fantastic day!

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419.

Helpful Links:

For more information, be sure to visit LeaseSmart.com

Feel free to reach out to Todd Grant by email or phone:
todd@nbda.com
720-231-0305

59 – Month-To-Month Lease: Perfect Situation? . . . Or Not? What You Need To Consider

Good morning and welcome to Episode 59 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Natalie asks Craig about Month to Month leases. Is there any advantage to staying Month to Month? Craig’s answer is super helpful. Of course, there is freedom associated with going month to month. Depending on your outlook for moving, you may need that open door.

On the other hand, if you hope to stay where you are, renewing is the most secure thing to do. It protects your right to the space and it nails down the terms that can help you stay profitable. Even if your landlord is great and you have a fantastic, mutual understanding, you need to protect your business against personnel changes. Check out our previous episode on Landlord Disaster Stories for some examples.

Thanks for tuning in and have a fantastic day!

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419.

Helpful Links:

For more information, be sure to visit LeaseSmart.com

58 – Don’t Lose The Deal Over These Two Simple Mistakes

Good morning and welcome to Episode 58 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Craig talks about two of the ways he has seen deals fall through so that you can avoid losing the space you’re going after.

One negotiating technique that is commonly used is for a prospective tenant to make a below-market-value offer. This can backfire big time. If the offer is too low, the landlord may be offended. And, depending on the market, may decide to ignore your offer all together. Right now we’re in a landlord market, so the landlord typically has the upper hand in selecting tenants.

Another way to jeopardize your deal is to seem like a business risk to the landlord. Make sure you have a board associates who are experts in business and finance.

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419. Thanks for tuning in and have a fantastic day!

Helpful Links:

For more information, be sure to visit LeaseSmart.com

57 – Building Out Your Interior: Be Careful Of These Easy-To-Avoid Disasters!

Good morning and welcome to Episode 57 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Craig walks us through the process of doing an interior build out. There is a huge amount of variation with the space you’re leasing.

It could be turn key, which would be the most simple scenario. This means that the space meets your needs and you can move in.

Or, there might be a work letter so where you and the landlord plan very specific changes to the space together. The landlord will usually want to ensure quality work is done to the space. You’ll probably have a tenant improvement contribution to work with. Craig’s advice is to make sure you keep an eye on that figure.

On the other end of spectrum your space could be a raw shell, giving you a lot of work to do. Make sure you know what is provided here.

Watch out for surprise fees in your lease like Impact Fees. Impact fees offset the cost to the municipality of the added burden of your business to the infrastructure: traffic, utility expansion, etc.

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419. Thanks for tuning in and have a fantastic day!

Helpful Links:

For more information, be sure to visit LeaseSmart.com

56 – Not Nearby? How Does Nationwide Consulting Work?

Good morning and welcome to Episode 56 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Craig tells us about the deals he has been working on throughout the country. He matches tenants up with experts in site selection in many major cities and from that point he consults on leases in all 50 states. He reviews the business aspects of your lease in just a day or two and returns it so you can move along with your deal.

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419. Thanks for tuning in and have a fantastic day!

Helpful Links:

For more information, be sure to visit LeaseSmart.com