The only drawback of having a kiosk business is that you cannot have a place of your own. You still need to lease a space for the business. However, this situation must never be a problem for kiosk business owners. If they only know how to effectively negotiate lease terms, they can get the most out of their business.
So, if you belong among the thousands of people who are in this kind of business, better give some attention and time to take a look at your lease terms. More often than not, the fairness of the terms has a great impact on the success of your business. Check these guidelines on how to negotiate your lease terms:
- Term. It is very important that you know how long your business can stand in one year. This is necessary to give you an idea as to how long will the lease term you will have to negotiate. For instance, if you have a seasonal kiosk such as Halloween costumes, it will surely not be a great idea to get a long-term lease for that.
- Location. The location that the landlord will be providing you is an important part to the success of your business. Make sure that he gives you a place in where there are a good number of people from time to time. If he cannot provide you a good place, do not close a deal with him. If they wish to close a deal with you, they will give you a good place in the area.
- Sales. It will be impractical for you to pay high for the lease if your business does not sell well. With this, you can start to negotiate with the landlord to tie the sales of your business into the lease's price. For instance, you can tell the landlord that he can have a commission from your sales rather than paying him an exact amount. With this, if your business fails, you have nothing large to lose. After some time that your business is already well-established, you can then start to negotiate a stable lease price for your business space.
- Advertisement. It is also necessary that you make every way for your business to be known to the public. Hence, include in the negotiation of lease terms the permission to advertise your business in the area, especially in the mall. Make sure you will be permitted to use signs, fliers, and posters in the property of the landlord.
- Other agreements. Do not forget to negotiate for other things in relation to your business such as hours of operation, location at night, number of your employees, as well as insurance. If you can close a good deal out of these agreements, you can expect for a smooth business operation on the way.
- Renegotiation. Once an initial term is up, start to renegotiate the deal. Check out the terms in where you have problems before. Then, make sure you will not encounter such problems in the next lease term.
In the end, it will always be necessary that you have effective lease terms for your kiosk business. Remember, your failure or success will always be determined by how well you have negotiated the term.