"Question for Retailers and Realtors" Topic

For four months I've been trying to secure a location to open a game store in my town. Very rarely do I get responses from realtors and when I do it is the usual "property is already in negotiations" or "I don't think the owner wants that because it would compete with his other vendors" blah blah blah.

So my question is this: Is there some kind of magic phrasing that I'm not aware of that will get me a serious look over? At least to the point where I can submit a business plan and explain what a game store / board game cafe is? I can't even seem to get to that point in the process.

For what it's worth there are marijuana dispensaries and poodle boutiques opening left and right. I already know I'm in the wrong town but my family is firmly resisting the idea of moving. Help!!!

Why not seek out a realtor to find you a space rather than just responding to space that has vacancy signs?

They earn a commission on the lease so it is in their best interest to get you space that will meet your needs. They should provide comps in the area for similar businesses and also be able to provide other valuable information about specific locations (traffic, crime, building history like previous fire/flood, etc.)

I have found that dealing with the realtors or property management groups directly can have mixed results.

Odds are the leasing agents aren't taking you seriously as a potential tenant. If you aren't a chain or a retailer with an established track record in another space, they probably are writing you, and what they may perceive as an unrealistic business plan, off as a waste of their time.

I second BGs thought. Find a Realtor who would be willing to rep you as a tenant agent. There has to be somebody in your area who would do it. I know there are Realtors who rep people looking to buy a house, as opposed to the ones who rep sellers.

With a Realtor making the first contact, you'll probably get taken more seriously.

Thanks for the responses guys.

I'm currently involved with two national realty agencies and so far since Dec 2014 we've been shown one property which was taken by another business after we said yes.

I've set up a meeting with a third real estate agency for later this week. Third time's a charm right?

I've been a Realtor dealing with commercial properties for twenty years so let me offer some insight.

Actually I deleted the long reply – get an agent and get educated.

First though know how much space you need and know what your budget is. Without those two things no one will take you seriously.

Don't worry about your business plan. If you are trying to explain it to a landlord on first meeting they won't take you seriously. They just want to know you have money, so sound like you do on the phone and dress like you do when you look at the property. Unless it is restored don't drive your '65 Impala to look at the place (I had a goth kid do that yesterday).

Next be aware that triple net in theory means you pay everything. I mean everything, like property taxes, roof repairs, security, everything. Find out exactly what they expect from you. In buildings where you are not the sole tenant be prepared for some sort of common area maintenance fee. These can be exorbitant and often include hidden rent costs.

I'll happily answer any questions to help you get on the right track, go over to Lead Adventure Forum and PM me, my handle there is Cory.

I have to agree with the other posters here. Go at it like it is a house search, and contract the services of an agent to do all the leg-work for you. Make them earn a commission, instead of finding properties yourself.

so far since Dec 2014 we've been shown one property which was taken by another business after we said yes.

The realtors are not taking you seriously would be my guess, or your preferences are too narrow.

Open a marijuana dispensary with some gaming tables, oh, and some black lights?

HaHa…that's the running joke between the wife and I:

If we pitched the idea of a hookah-bar / dog-sitting parlor they'd be paying us to open a business here.

$10,000 USD business permit for dispensaries is a little steep and there's one on every block already (I exaggerate but they do seem to be everywhere).

Maybe that's why the local realtors aren't getting anything done?

Call it a coffee bar/snack shop; as this will become the cash cow that keeps you afloat.

That's a good idea, but then he will have to look into food-serving permits.

At least to the point where I can submit a business plan and explain what a game store / board game cafe is? I can't even seem to get to that point in the process.

Wait… Are you saying you have a business plan or that you need a location before you can have a business plan?

Strange. I have had 3 physical locations. Not once did a realtor/landlord ever ask me any of this. They didn't care if I "competed" with existing tenants. Why should they? My last landlord had 3 salons in the same building.'

Business plan? Again, never been asked, no need to. Never made one. But then I never took out a loan either.

When asked (in conversation, not as some arcane application process) I simply said "hobby shop.' Everyone knows what that is.

The only serious question I was ever asked was to fill out a credit application.

Where are you looking that the landlords have such exceptionally picky standards they won't rent to someone with good money to spend?

Yeah, I'm a little confused as to how to pitch the idea now. I'm trying to keep it as simple as possible for them so either a coffee bar with games or a hobby store with coffee.

Food permits are no biggie as my background is restaurant management.

Durango, CO is the location where pretentious property owners pretty much dictate the direction the town goes in.

OK, a small town with a local college, depends a lot on tourist trade during the summer months, and limited retail space.

What you are running into is not understanding your business and you have no track record. A tough situation.

Drop me an email and I will refer you to some good local commercial brokers.

Dave
stonemountainmin@gmail.com

Tell them it's for a "hobby shop".

Crapola. My landlord just sent me a renewal "offer" with a 94% rent increase. So I'll see if I have any trouble finding a new space this summer….

Haywire, we are sitting on the plan, the capitol and the inventory.

Some of you are saying the business plan was never needed? Strange?

The first agency I dealt with wouldn't let me in the door without one.

The second stopped communications as soon as they found out that I was financing the operation myself without asking how much I had.

I agree with you Dave, it looks to be just tough situation and it actually helps my brain to know that this isn't the norm.

But on the flip side of irony my daughter blew out her reconstructed knee yesterday so it looks like everything may be put on hold anyway.

Perhaps I should approach this from the idea of a web store. That market seems pretty saturated. Are there any lines that seem to be difficult to get in the states that are under represented at the moment? And with postage tech what it is is there any advantage to that anymore?