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January 05, 2010

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This is not the right place for this comment, but Maestro's not moving to the doc's site brings up a connection to an article which ran in the Schenectady Gazette titled Broadway rents force out Saratoga Springs shops. Being a shop owner in Saratoga I took offense to a couple statements made by a commercial realtor from Roohan who stated that why so many businesses are going under is because they didn't start with a solid business plan. Sorry, but what a bullshit statement. Who could possibly foresee a recession 5-10 years ago? She seemed to think that the rental prices in Saratoga were just fine. Is this woman on crack? This lady needed to do some research. Saratoga rental prices are equal to those in Chicago, NYC, Atlanta, and Minneapolis. Last time I checked Saratoga definitely did not have the volume of people those major cites have - which equals less shopper/diner traffic. Just take a look at this month - I know of three businesses that are closing end of January. Does anyone think that they are closing because that business plan just wasn't what it should be? Maybe - just maybe - it is because factors have gone belly up, which means no financing for stock. Or maybe because there is not shoppers which equals no sales. OR - gosh let's just go out on a limb - that they needed to use credit cards to purchase stock, and then had their credit card raise interest rates to 20-30% and a yearly fee of $100. Hmmmm - rents at 40sqft, triple net, utility rates sky high, decrease of sales... yeah - it is definitely due to a poor business plan. What a stupid statement.

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