Ricky’s—New York, New York

One store that has pursued temporary spaces regularly is Ricky’s in New York City. While it is primarily a beauty supply store, they also set up temporary stores for Halloween costumes in September and October, which is apparently a highly profitable business. Outside New York City, landlords are generally happy to make the extra money, but in the city landlords are sometimes resistant to leasing to the store. They generally pay up front in lump sums, $25,000 to $50,000, to lease vacant storefronts about eight weeks. Some are only interested in long-term arrangements. Others think that the presence of a Halloween store will drive potential long-term tenants away, but the CEO of Ricky’s believes that the brisk business his Halloween stores do and the number of customers they draw helps create a vibe and demonstrate the potential of the location. Ricky’s works through brokers to try to negotiate for the spaces. When Ricky’s finds a space, they generally do a quick makeover, putting up wallboard, and installing metal grids for hanging costumes, lights, and other equipment. If a location is particularly successful, Ricky’s will often seek to set up a permanent store in or very near that location.


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