the Pearl: After dinner, have Anthony make you a strawberry zabaglione tableside. We are the only restaurant in NJ to do this dessert tableside. Come see the show – the KING OF BROAD STREET!
Reader says businesses that are able to pay the rent and succeed will determine what you see in the storefronts.
The CBD tenants (of current buildings) change due to markets and the residents can piss and moan all they want, but the reality is, the businesses that are able to pay the rent and succeed will determine what you see in the storefronts.
In my 45 years living in town, I have seen a few changes in ‘retail’.
No more Drapkins, no more Winchells, no more Al & Harrys, no more Sealfons, no more MacHughes, all of which were great stores and fell victim to the malls.
We used to have a liquor store on many corners.
Every corner on franklin had multiple gas stations (Phillips 66, Amoco, Texaco, arco, Texaco, mobil(2), exxon, Sinclair, etc, all of which are gone. (a few gone from godwin as well)
Who was foolish enough to pay the going rate for rent? Banks, nail salons, restaurants, or wives of rich residents who wanted to ‘play store’.
Its an ever evolving mix, and the market will determine things, not those who choose to opine on ‘what kind of stores are good for the CBD”.
Nadler Chevrolet, brogan Cadillac, ken smith Lincoln, and the buick dealer, all gone. (this IS one are that resident input should be welcomed if the property owners request zoning changes)
If I owned a retail store, I’d take advantage of the foot traffic generated by the restaurant trade at nite. Unfortunately, most of these dummies are closed!
IT would be nice to see the stores open in the evening, maybe they should give it a try on friday or saturday nights just to see how it goes.
What type of business is needed or underepresented?
It makes common sense as I noted in my original post that these shopkeepers should take advantage of the foot traffic generated by the evening restaurant business.
I know so many people would love to open up in town but the dam rent is to high,
Approach a landlord with an ‘idea’.
If you can’t pay the rent, and the place is vacant..get Creative.
Offer landlord a percentage of the register, or a piece of the business.
That joint venture will benefit both of you.
A smart landlord would fill a vacancy and get the potential of a payback in ‘upside’ if the business succeeds.
Win win for both.
Never offer your landlord a piece of the business.
You will never make money but the landlord will.
Leases in which the tenant pays lower “base rent” plus a percentage of gross receipts are quite common with larger chain stores. This protects the store in slower times but allows the landlord to share in the upside when times are good.