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13th April 2009 - 05:52

First of all, keep in mind that real estate works in cycles. By agreeing to a longer-term lease with your landlord, you might put yourself at a slight disadvantage in the future, let that idea alone for now. Remind him that it won't be easy to fill the space. You're an established business and have a much better chance of consistently paying the rent than a start-up that has no track record of success. More importantly, they know what to expect from you, and a new tenant could easily be a nightmare. Consider offering a simple profit share plan of your sales on a temporary basis and tie it to a potential rent decrease. Look for non-tangible benefits that could possibly help your landlord. How about advertising for other locations your landlord might own? Cross-promotion with another business? Find new ways to compensate for the rent and you'll be able to talk them into something you can afford.