Thanks to A.D. Pruitt for his Wall Street Journal Article entitles, “Malls Make Room for Start-Ups” in the August 3, 2011, page C10.
In many malls across the U.S. mall owners are not waiting for big box retailers to lease space but are instead leasing to small independent business owners. Kiosks are one big source of start-up. For a fraction of the cost to lease a larger space, a business owner can lease prime space and sell specialty items. The landlords are allowing businesses to have short term leases so they can “test the waters”. If the business thrives then a longer lease can be negotiated but if it fails the landlord can find a new tenant.
What does this mean for people who have filed for bankruptcy?
There may be opportunities to start a new small business in malls even if the person has filed for bankruptcy in the past.