Well it has certainly been an interesting couple of months in Retailing during the peak trading period and the issues have been wholly diverse. From the hype of Amazon opening their first Australian Hub there has been plenty of noise covering a large amount media real estate.
As we look back over past years and Retailers leave behind the prosperous holiday trading period for the handbrake months of February and March, there is a common practice to dwell too much on all this negative noise. When in fact the savvy and successful Retailers are well and truly finished planning their assault on 2018.
One New Years’ resolution that needs to be kept is to your Retail Shop Lease, and to plan the “Lease Year” ahead.
This a great time of the year to pull out your lease from the bottom draw and sit down and read from cover to cover, mainly due to the fact that most leases are not entered into during January/February and hence more than likely your lease anniversary will be later in 2018.
Which is what we mean by planning the Lease Year ahead, as there are events throughout the year that need your attention and more so your time and resources if you are to be an effective Lessee and (where possible) cease opportunities to create savings and add to your bottom line.
These events may include the annual rent review, outgoings estimates, outgoings audit/adjustments, certificates of currency (insurances), sales audit reports and the often-forgotten Air Conditioning servicing (or other maintenance required under the lease).
Now I know most of you will say “what can I do to plan and benefit from these lease events?” well, let me give you some examples of how you can be effective: