Plan, plan, plan
Whether you decide to renew or relocate, knowledge is key.
Allow sufficient time to evaluate your current situation, review options, assess the marketplace context and negotiate with your current landlord to optimize the end result.
The lease negotiation and relocation process ranges from three to six months at a minimum. Depending on the size of your business, the requirements of your store and the current market conditions, you should prepare to begin this process 18 to 24 months prior to your lease expiration. It may take two years or more to complete the lease and relocation process; larger organizations should plan for even more lead time.