Café. Four years in that unit. Built the whole thing from an empty shell, my own money, my own hands, three months of eighteen-hour days before we opened.
Lease is up. He wants 40% more. When I pushed back he shrugged and said that’s just the market now, and he’s not even wrong, because a chain would pay it.
Here’s what makes this rotten. My rent went up 40% because I made the street desirable. Four years of me being here, being good, drawing people in, is a large part of why this block is now worth more. I improved his asset with my life and now the improvement is being used to price me out of it.
The math: at the new rent, I clear almost nothing. I would be working 60 hours a week to hand him the profit.
The options as I see them:
Sign it, work for free, and hope for a rent I can survive at the next renewal, which is naive.
Move, which means rebuilding a fit-out I paid for once, losing every walk-in customer, and starting over on a street where I’m nobody.
Or close, take the loss, and go work for someone else.
I have eight weeks. For anyone who has faced a rent hike like this: did anyone successfully negotiate one down, and what actually moved the landlord? Has anyone moved and had the customers follow?
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