How One Hire Turned Around a Failing Store | Episode 60: I Own a Shopping Center, Now What?
Description
In this episode, I share a compelling story about how collecting tenant sales data helped me identify a struggling franchise tenant—and how one smart hiring decision turned that failing store into a top performer. I emphasize the importance of staying proactive with your tenants, even if you’re not managing a local property, and why absentee ownership can be a serious red flag.
From spotting red flags to celebrating a turnaround, this episode highlights the power of involvement, holding tenants accountable, and simply paying attention to what’s happening on-site.
🔑 Key Takeaways:
✔️ I always collect sales data from my tenants—it alerts me to problems early.
✔️ I’ve noticed that absentee franchise owners often underperform compared to hands-on operators.
✔️ A single great hire can dramatically improve customer experience and store performance.
✔️ I believe in being proactive and vocal when I notice tenant issues—staying silent doesn’t help.
✔️ Visual merchandising and strong tenant visibility drive foot traffic and boost sales.
✔️ I don’t reduce rent as a quick fix—I push for operational improvements instead.
✔️ Even when I manage from afar, I monitor performance and intervene strategically.
United States
