Don't Pay the Rent!

Sound like bad advice? It’s not! One very effective way to reduce your monthly expenses is to lease part or all of your space (depending on your business) to another service provider. 

Many businesses are complementary to the tea business and attract similar customers. This arrangement can be very effective for both parties, and your businesses can create combined marketing and promotional events as well.

Consider your legal responsibilities

Before you jump headlong into this option, you first need to carefully review or amend your current lease or rental agreement with your landlord. Many agreements have clauses on leases, and you need to ensure that you are acting within your contract and within the law (the types of commercial businesses allowed in your space may be limited, for example). 

For those landlords who do allow you to sublet space, be sure you fully understand the agreement; many will require a percentage of the profits you realize from the subletting agreement. Also ensure that you hold the primary lease so that you are in complete control of who you sublet to. This allows you the freedom to carefully choose who you want to share your business space with.

That said, subletting can be a great option for you until your business is fully running and completely self-sufficient. Even then you may decide that the arrangement is too good to change.

Choose your partner(s) with care

What types of businesses are good to collaborate with?

Many customers who are passionate about tea also frequent the following types of businesses:

• Floral shops

• Book stores

• Gift shops

• Linen stores

• Culinary stores

• Small bakeries

• Health food stores.

As you can see from this list, with a little imagination, a wonderful combination could be created. Would your customers love the opportunity to sit with a good book and a cup of tea? Does your local baker create the perfect goodies to accompany a hot brew? Or would a culinary store offer the perfect selection of cups and saucers? 

Do you run a reservation-only tea room? What type of business could operate in the space during your down time? Imagine having an income-generating opportunity, even when you are not working!

By taking a careful inventory of your customer base, you can develop a wonderful working relationship with another business that can not only help attract more customers, but also help pay the rent!

Copyright © 2005 by Dawnya Sasse. All rights reserved.

Lady Dawnya Sasse is author of the world's first online tea business program entitled Start a Tea Business. To learn more about Lady Dawnya's seminars and CDs visit her website.