The tour of the King Street space went well this afternoon and the broker was also able to provide me with answers to my questions on the West Street space. We agreed to prepare Letters of Intent (LOIs) on both spaces to start the leasing process. In many ways, the two spaces could not be more different but each has it's own pluses and minuses. I have a lot of thinking to do!
My broker confirmed for me that the Henry Street location is no longer an option. I'm sad but it means it wasn't the right space. Better to know now than later.
Yesterday afternoon was spent reviewing many, many websites to determine what I like and do not like about each one. This is in preparation for my lunch meeting on Thursday. Last night, I also did some research on apparel businesses for sale in Virginia. There is a site that shows general information on the amount of inventory, furniture/fixtures/equipment, cash flow, and selling price and, frequently, the reason the person is leaving the business. It is very educational to see what others have experienced and I may ask to look at the books for some of the businesses just to compare to my own business plan. My financial advisor had suggested this and I believe it would be a worthwhile endeavor.
I am also considering trademarking the logos and name of the boutique and spent some time reviewing the process on the Patent and Trademark Office site.
Had a delightful lunch with my friend Wayne today, who tells me he is living vicariously through me. No pressure for me to succeed, eh Wayno? :)