Feb
09
Shop lease problems?
By
I am in a shop lease for four years, one year has now passed. However the shop has being doing really rubbish because i was shown false accounts. Is there anyway that I can avoid paying the rent for the remaining three years??? Its not limited and is secured on my home! Please help!
Repossession
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1 Comments
February 12th, 2010 at 2:57 am
Check the terms of your lease to find out what happens if you want to get out of the agreement before the end of the term. You may have to pay a hefty penalty.
What does your shop do? Rather than running away from what has turned out to be an unsuccessful business, look at ways of marketing it in a fresh way. Have a relaunch day to draw people in. Set up a simple loyalty scheme where regulars get a small discount. Run a competition to support a local charity where people have to come to your shop to enter the competition. You’ll get press coverage because of the charity angle, because you’re not promoting your shop as such.
If you’re in the UK, speak to your local Business Link for help and advice on the lease and for ideas to promote your business and turn it round. They’re able to take an unemotional view of your business and see things that you don’t when you’re so close to it. We’ve used them over the years for a variety of things.
Good luck!