“Our small suburban grocery shop is on a retail strip and we’ve had the same landlord for thirty years over two generations. When our lease renewal came up, the landlord offered us a 3+3+3-year lease starting at a gross rent of $125,000, with ratchet clauses, which gave us no flexibility to face any future challenges. We knew we had a problem.
Our advisor suggested using the GEM AnalysisTM tool as a cost-effective way to figure out what rent we ought to pay, and also as a non-confrontational way to present our case to the landlord. With the GEMTM graphs in hand, our negotiations yielded a starting gross rent of $80,000 per year and a new 3+3+3+3-year lease with 3% annual increase and market reviews. As a result, we did a complete refit (which our customers think is fantastic) and we restored our relationship with our landlord, which was really important to us.”
Winston, Small Suburban Grocery Shop in QLD, 2018