What the Term Base Rent Means

What the Term Base Rent MeansWhat the Term Base Rent MeansIf youre renting your home, you probably dont have to worry about cousine rent provisions in your lease. This term relates mainly to businesses, and its most commonly associated with leases for retail stores in malls. Most of these commercial leasesare formulated around some level of base rent. What Does Base Rent Mean? The term base rent refers to the minimum amount of rent thats due under the terms of a lease. This type of lease will also require the tenant to pay additional rent based on one or more factors. This add-on is typically a percentage-of-sales or participation requirement. For example, Karens Kat Corner, a pet shop, might pay a base rent each month of $1,500. Her lease also has a percentage rent requirement that she must pay on top of her base rent. This is usually a small percentage of the sales she makes each month- usually somewhere in the neighborhood of 2 percent- over a certain threshold. Base rent is t ypically calculated according to the amount of square footage youre renting, and in some cases, its negotiable. It can depend on how high-risk your landlord feels your business is. Are your customers likely to cause damage to community use areas? You may have some negotiating tools at your disposal as well. If youre a dentist, how likely is it that your clients will be purchasing sweets at the ice cream stand just outside your door immediately after exiting your office? Additional rent add-ons can include a contribution toward taxes, insurance, and maintenance on the mall property. If this sounds unfair, consider what youre getting in exchange ample parking for your customers, a food court outside your door, and a security guard at the malls entrance. Consider how much these things would cost if you had to foot the bill yourself, Under a base-rent agreement, youre sharing these costs with other tenants who are also renting retail space in the mall. Calculating Your Rent Obligatio n Incorporating base rent into your business budget can be a tricky calculation. It helps to understand that your rent will never be less than the base rent amount, and you must make provisions in your budget for an extra rent percentage.If youre just opening your business, this means forecasting your most likely sales scenario. It can be tempting to estimate low, but be careful so that youre elend hit with a big rent payment if you do much better than anticipated. The Bottom Line Weigh your options carefully before entering into such an agreement. Leasing a stand-alone building with more advantageous rent for your business might give you the security of knowing youre liable for a set amount of rent each month, but youll lose the advantage of mall traffic. Consult with a professional who can accurately weigh the pros and cons of your business type before you decide. If youre selling earrings and baubles that require a lot of foot traffic, mall traffic might be worth it. If your e a dentist, probably not.

This is how working long hours affects your mental health

This is how working long hours affects your mental healthThis is how working long hours affects your mental healthGone are the days of the traditional 9-5.It may notlage exactly come as a surprise that work hours are shifting for some lucky employees, that means four-day work weeks and more flexible schedules. But for another slew of us, the opposite has taken root Were working longer hours, and sometimes on weekends, to get the job done.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreThat change begs the question What does a 24/7 business operation mean for our mental health? Studyfindings recently published in the Journal of Epidemiology and Community Health aim to answer that very question. The results arent exactly positive.Researchers in the United Kingdom used data from Understanding Society, the UK Household Longitudinal Study, to see how professionals reacted to havinglonger work weeks. They found that the problem welches at least partially gendered Women who worked 55 hours or more per week tended to have more depressive symptoms.More stressful for womenThe research reports authors hypothesized that this could be because of a number of reasons Women who are working long hours may feel pressure if their schedule goes against social or professional norms, they may be working in male-dominated fields, or they may feel the potential double-burden experienced by women when their long hours in paid work are added on to their time in domestic labor, they wrote.Men do not experience the same increase in depressive symptoms when they have a longer work week, but they do have more symptoms when they work weekends. The same is true for women who work most or all weekends, but not for those who only have to work some weekends.All in all, it seems its not great for our mental health to work the long hours some of us are taking on in a newly globalized business world. Perhaps its time to slow down a little after all, theres a reason why the five-day, 40-hour work week became the standard.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people

The Hidden Job Market in the Beauty Industry

The Hidden Job Market in the Beauty IndustryThe Hidden Job Market in the Beauty Industry When you walk into your favorite department store - lets say Bloomingdales - did you know that most of the employees on the sales floor arent actually employed by the store? The associates clad in all black attire or white lab coats are often actually freelancers hired directly by beauty brands themselves. Why? Well, in any industry, one of the hardest tasks is hiring the right candidate . Many employers would rather hire from within, or through their personal network, to avoid the onerous task of open application review. In retail, the task of vetting for great employees is very difficult, due to the sheer size of the industry and fluctuating staffing needs. It can be challenging to place the right person in the right store at the right time - but as we move into the gig economy , there lies a great opportunity to take advantage of the growth in freelance talent.With hundre ds of thousands of retail-based positions in the US alone, from beauty advisors and counter managers to brand account executives and education consultants , its no surprise that this market is complicated to navigate. Who are these people and where do we find them? The freelance retail talent market is largely hidden.As with any retail industry, beauty talent serves to provide an in-person experience, with hopes of inspiring the customer to purchase a product and build a relationship with the brand. Beauty, in particular, is all about teaching consumers about what products do, how to use them, and why your brand is the best. Freelance talent serves to educate, as well as play the role of a liaison between the brand and the customer. Some freelancers earn their income through both a traditional job and a side-hustle something generally geared towards a personal passion. Others freelance full-time, putting all of their efforts into becoming a professional in their passions. Most beauty professionals start out because of a passion for the creative . Starting with yourself as your first customer, as your love for beauty grows, you begin to share your passion with others. The key to future success lies in sharing artistry tips and connecting with each other - often selling relationships and experiences more than the products themselves. As your skills and relationships develop, so does your career.Its estimated that 34 percent of the American workforce is freelancing thats over 50 million people. So why are all of these people making the change from traditional employment? Freelancers have more power over their schedules, more control over their career growth, and a greater ability to balance personal interests - like traveling or starting a family. The four most popular reasons people freelance are freedom, flexibility, skill-building , and the pursuit of a passion.Companies hire freelancers for many reasons - for one, the talent helps in providi ng a better experience for customers. In an increasingly online world, its vital for brands to create in-store experiences that draw in consumers to make purchases 92 percent of global consumers trust earned media, like word-of-mouth recommendations, more than traditional advertisements. Through the use of social media, in-store talent can maintain relationships made on the floor, while also building their careers through exposure and bringing in new clients who find them online.And if you needed more reasons to believe in the true potential behind these opportunities, some of the biggest names in beauty started out on the sales floor. Before launching her empire and becoming a household name, Bobbi Brown worked for seven years as a freelance artist - achieving her big break when she styled Naomi Campbells face for her American Vogue cover debut. Brown remains a loyal supporter of freelance talent, citing the flexibility and wide variety of experiences held by freelancers as tw o of the major reasons she considers them exceptional employees.The bottom line? People become freelancers and people hire freelancers for the same reasons. So if youre seeking a job that offers freedom, flexibility, and the gunst der stunde to both learn new skills and exercise your passion, consider this hot field .Glenn Laumeister is an experienced technology leader who is currently the CEO of AllWork , a platform for brands and retailers to find, manage and pay retail talent.