How to Open A Retail Business With No Rent For 60 Days

Looking to get into a retail business? Short on cash? Find out how to get into your new location FREE.

Difficulty: Moderately Easy

Instructions

1. Getting a retail business started can be very expensive. But there is a simple way to get into you new store without a penny out of pocket (for rent, that is). To get started, you will need to determine area you would like to be in and contact as many available building owner's in that area.

2. You initial calls will simply be to gather information on each property, such as the amount of rent, size, etc. Another reason for these first calls is to determine the motivation of each owner. If you determine by the first conversation that an owner will not be negotiable, cross them off the list. The goal here is to find someone who is extremly motivated, and they are out there.

3. When your list is narrowed down the highly motivated few, then you will want to view these properties and meet the owner in person. When you are viewing each location, look around to see if you can find any faults with the building, don't be too critical, but just determine if there is work to be done. As you notice things, casually point them out during the walk-through.

4. When you reach the end of the tour, ask the owner if they would be willing to skip your deposit in exchange for the work to be done. If they say yes, or they would consider it, you've got the perfect situation.

5. Now on to the real negotiating. Now you will ask how long of a lease they would need if you were to take the property. Whatever it is, ask if by adding an additional year, if they would be willing to give you a 60-day grace period on the rent. Trust me, this usually works wonders! Most rental owner's just want to get their vacant property occupied, and if they can add a potential "guaranteed" year to that occupancy, they are more than willing to give a few months free.

6. Now, you're at the point to get in with no money due until the beginning of month three! These types of deals are set up everyday. I have used this technique many times and have been able to get as much as 120 days rent-free. As a matter of fact, I have Never put any money down on any of my retail or office locations. It'll work for you too.

Tips & Warnings

• The process may not flow this easy with the first meeting. You may need to spread some of these steps out through phone calls after the initial meeting, depending on how "ready" the owner is to get their location filled.
• Getting your first few months free get you in a great position to actually be making money before your first payment is due, which is very beneficial to a new business.
• If at any point you feel an owner may not be interested in your deal, walk away. There are many locations to be had, and many owner's willing to "give" them to you.

[JMA1]

on 11/19/2008 excellent advice !!! I think the same way and find almost everything can be negotiated.