Quote:
Originally Posted by blicata
Miles42
very poor mix of stores in all the squares. One store owner in colony plaza said the developer strickly regulates store policies. Developer regulates hours of operation & developer takes a portion of owner sales or profits. Real turnoff to open a business in the villages.
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As a former manufacturer/retailer up north, when we moved to TV several years ago, we briefly considered renting a store front to sell products from the factory we left behind. The rents here in TV are extraordinarily high, plus the developer wants to participate with your sales and profits. During the interview with the developer's agent, he asked what kind of sales did we think we needed to break even...when I gave him an off the cuff estimate, he said they wanted 4% of anything over that sales figure plus our rent payment. We were in a low margin business up north and never made more than 8% net on our sales, so handing over 4% on top of our rent was a shock, and we never went through with the contract. This was several years ago, so I assume rents and the amount the developer wants to "wet his beak" are only higher now. Opening a business in TV is a real high stakes gamble for any small business. You had better be a large chain that has other stores to absorb the lower profits or even losses from a store here...or have very deep pockets.