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“his new landlord told him that the store’s monthly costs—rent, taxes, insurance, and maintenance—would go up an impossible 150 percent, to $5,000 a month.” I’

• locopati 5y ago
  it won't be a hip neighborhood much longer if only global chain stores can afford the rent
  • maxerickson 5y ago
    What do the global chain stores do differently that they can justify the rent against the store revenue?
    • blevin 5y ago
      Large co's play different games than mom & pop. They can afford some near-term losses if they can make the case it prevents competitors from gaining a foothold. Banks can justify rent on a seemingly empty branch in an expensive retail area if it supports catchment area of desirable clients that visit in person once every 18 months. Etc.
    • seafoam 5y ago
      Scale in distribution, especially marketing / brand / name recognition
    • treis 5y ago
      I think people just like chain stores better. Plus they can take advantage of bulk buying for materials, services, advertising, etc.
      • canadaduane 5y ago
        It could simply be brand recognition. Visitors to a city will know which chain stores to visit to get what they need, glossing over (or avoiding) unfamiliar stores. So mom&pop stores get local customers, while chain stores get local PLUS just-visiting customers; multiply by months and years.
• acomms 5y ago
  Rents in Montreal are historically cheaper than other major metros (in Canada). I am currently looking for commercial space in Toronto and despite lots of empty spaces, rates remain high.
  • fencepost 5y ago
    Louis Rossmann's video series about his search for a new location in NYC may have a lot of relevant lessons even in a different city.
• aaaxyz 5y ago
  That neighborhood is hip _because_ rent is cheap