James Siminoff

The Blank Entrepreneurial Canvas

I am not sure exactly how much retail space is now vacant but it is definitely high.  However unlike most people, I see these spaces as a artist sees a blank canvas.

Landlords are pushed against the wall, the pendulum has swung to favor the entrepreneur.  If I had more time I would probably try to launch something in a vacant space, if for no other reason then it is such a great opportunity right now.

Remember retail sales are only down less then 10% since the peak but store closures have been much higher then that, especially in certain sectors.  Take the electronics/computer business, Circuit City and CompUSA shut down almost 1,000 big box stores in the last 18 months subsequently leaving a hole to be filled in that market. Retail stores work like a pendulum when times are good they swing way too positive, when times suck, like now, they go too far to the negative.

So if you are looking for an idea, out of work, or always wanted the chance to create something that would benefit from retail space now is the time.  Call the landlords, make them your partner, negotiate to only pay them as a percentage on sales, be creative in your build out. This is probably one of the few chances you will ever get to try a retail idea with almost no upfront capital.