AR Workshop is a DIY studio franchise, and Patrice Chatman was once just a happy customer. Then she became a part-time teacher. And in 2023, she bought the Westfield, New Jersey, location- inheriting a studio she loves, and a lease agreement with a steep learning curve.
“Before I officially took ownership, I think we were forecasting that somewhere between 27% and 30% of our gross revenue would go toward rent and utilities,” she says. About a year in, that number is 43%. “Rent is definitely a struggle.”
Chatman is not alone. In April, the business networking platform Alignable reported an uptick in small businesses that were unable to pay rent in full. A poll of 4,171 small business owners showed that 43% were delinquent on rent that month, a high not seen in similar surveys by the platform since March 2021.
Esta historia es de la edición December 2024 - January 2025 de Entrepreneur magazine.
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Esta historia es de la edición December 2024 - January 2025 de Entrepreneur magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
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