A Pre-Flight Checklist For A Business In An Airport
As many familiar mall storefronts go dark, it's no secret that brick-and-mortar retailers are in a fight to stay relevant. You wouldn’t know it, however, if you spend all your time in airports, where sales from retail shops and other concessionaires continue to increase worldwide. As retailers struggle in the digital economy, airports can represent a rare refuge where a captive audience of travelers is more willing to spend. But before signing a lease in an airport mall, which are similar in many respects to a regular suburban counterpart, business owners should consider a number of special challenges. Negotiations When negotiating a lease, think about your exit strategy. What happens if sales don’t reach the level you expected? A kick-out clause allows tenants or the landlord/mall developer to terminate a lease early under specified circumstances. This way, tenants can cut their losses early, and developers can try for a more successful business than waiting out an underperforming one.