Closed Banks and Closed Coffee Shops - Commercial Property
Friday, July 31st, 2009 Subscribe To Our Feed
Every commercial property owner and property management company wants to make sure that their large properties have an adequate number of anchor tenants. They often look for grocery stores and retail department stores, but they also need high-traffic businesses like hair salons, travel agencies, instant printing, and fast food. To round out a good shopping center you need a bank and a good coffee shop.
Of course, this becomes quite a problem, as many of the banks are consolidating, many have been taken over by the Fed, and many are merely closing branches and locations to stay in business and cut costs during the recession. Having a bank on the property can be difficult when they leave, as the shell of that type of a business building is hard to convert into something else.
Blame it on the economy, or clever Starbucks marketing or scientific research on coffee’s antioxidant properties. Or maybe cappuccino has been waiting in the wings ever since martini glasses disappeared from Power Lunch tables? The point is, everyone’s going for coffee. Not as in “break,” but for networking and deal making and sharing information - the business of doing business.
Will the fast food restaurant merely use this to store paper cups? It’s not as if you’re going to dig out 2 feet of concrete reinforced steel and a giant fault with high tech stainless steel.
When a coffee shop goes out of business, it can be converted into something else for instance a Chinese restaurant, but generally the kitchen area is very small so it will require a lot of tenant improvement work, which makes it more difficult to get a tenant to replace them due to the cost of the TI work. This means that the commercial property owner will have to make an extremely good deal to get that building leased.
Make sure to have an employee assigned to the free samples, both to ensure that they are properly looked after and replenished and to be able to discuss the story behind the new shop with customers. This kind of staff-customer interaction is just as important to a successful free sample campaign as the ability for customers to try your products without commitment.
Resource Author Francisco Rodriguez H.
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coffee?coffee?Tripoli lebanon, are there malls or modern coffee shops or clubs and bars there?
