We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

Prevention of competition?

justinboyd101justinboyd101 subscriber Posts: 11
edited February 2009 in Business Planning
At a plaza I`m looking at they said that they will not allow a competing video game store to open in the same plaza. When I heard this I was skeptical. Do plaza owners do this? Would it be wrong if I asked them to include this promise in the lease contract?


  • Options
    nevadasculnevadascul subscriber Posts: 3 Member
    If you are the first video store going in, be skeptical of promises the plaza owner will not let another video store in.  Get that promise in writing as part of your lease.  Then, you have an enforcible document that you can take into court if need be.  Having worked with several mall owners, I know they will tell a prospective new tenant anything to get the lease contract signed. 

    Also, if you are not familiar with commercial lease agreements, have a real estate attorney review the contract.  Keep in mind for instance that interior and exterior maintenance problems may turn out to be your responsibility.  Also keep an eye out for hidden fees such as common area maintenance or your store`s name on the mall marquee.  These fees can double you monthly lease amount. 
    nevadascul2/7/2009 2:49 PM
  • Options
    justinboyd101justinboyd101 subscriber Posts: 11
    Thank you! I really needed to know, I`m just trying to make sure I don`t get abused because this is my first business. Again, any more advise anybody might know I will always appreciate it.
    Thanks again!
Sign In or Register to comment.