Starting a retail business and renting a retail space is a difficult and time-consuming task, and this is only the start of an uphill battle to create your own success with your business. When it comes time to find Chicago retail space, you must pay attention to every detail on the rental contract, but one of the most important details is the exclusive use clause, which should be prioritized.
The exclusive use clause is what prevents direct competitors from springing up next door.
Establish a Positive Relationship with Your Landlord
When you are able to reach an agreement on an exclusive use clause within your lease, you will be starting off in a positive direction, which is good for both the tenant and the landlord.
Benefits Both You and the Landlord
As the tenant, you gain peace of mind knowing that you will not have to worry about direct competition. The landlord also benefits by gaining your trust and making a decision that could motivate you to stay at the same location for a long time, which prevents the landlord from having to handle a vacancy.
It makes sense for a landlord to provide exclusive use to some businesses because having a balanced shopping center is the key to attracting the highest number of customers.
Helps You Avoid Direct Competition
It is important not to underestimate how crucial it is to avoid direct competition. While it certainly depends on what it is that you sell, it could make all the difference in regard to your success.
If you have any questions or want help with finding an ideal retail space, please contact us.