Anyone had a Michael's move into their shopping center?

R

Ron's dog's flea's brain on acid

MGF, Master Grumble Framer
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I just found out through a commercial real estate broker friend that a Michael?s is displacing a large department store in our shopping center. This will be the first one in our area.

I was wondering if anyone else has had this happen and what the results were. I?m specifically interested in how a new Micheal?s store impacted existing independent framing retailers, especially IN THE SAME SHOPPING CENTER.


Thanks,


MAX
 
MAX, you don't have a "non-compete Covenant" in your lease?

I actually tried to lease space in a shopping plaza across the street from a Mike's and because both centers had the same landlord, somehow THEIR non-compete wouldn't let him rent to me.

Near (in?) Woburn, MA there was a shopping center with Mike's and TWO independents and both had been there for some time. They both felt the proximity was not a negative. One thought it was a positive. Said she was "piggy-backing" their advertising. It was a number of years ago that I spoke with her, so I don't remember the specifics. Sorry.

Good Luck,
Cliff
 
Max, A gentleman near me is located in a center that a Michael's moved in to. He started planning an evacuation plan assuming he would have to relocate but, having a Michael's there actually increased his business. Trust me, there are so many framing projects that any smart Michael's frameshop manager will discourage. All the complicated oversized ones that usually are high ticket orders come to mind. Plus, once they have over 1,000 orders in the holding tank their delivery dates will go from 2-6 weeks and they will need someplace to send the overflow.

Just get to know them and offer to chop mistake frames or to cut a mismeasured fancy mat on the CMC and they will be your friends for life.

My friend who benefited from them being in his shopping center almost went belly up when Michael's roof collapsed from a snow storm. They didn't reopen for almost a year and a half. Unfortunately, Michael's was his only form of advertising. But, you are too smart for that to happen.
 
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