Tips for businesses to thrive with rising rent
Yesenia Rodriguez, owner of Sweets & Things, opened her bakery’s first brick-and-mortar location on Dec. 16 in Cypress Hills.
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Yesenia Rodriguez, owner of Sweets & Things, opened her bakery’s first brick-and-mortar location on Dec. 16 in Cypress Hills. To meet high demand, she bakes 350 Tres Leches cakes a day by herself, drawing customers from as far as Connecticut and Pennsylvania.
“I got another pan because people are selling me out and I need cakes,” Rodriguez said.
Opening the store was no small feat. Rodriguez said she invested $160,000 — the largest financial commitment she’s ever made — after years of running her business from home while working full-time.
She urges other business owners to be patient and build their operations gradually.
“Do not rush it. We sometimes want to just make money, but no, I don’t think it’s going to work,” Rodriguez said. “You need to take your time.”
After the upfront investment, Yesenia pays $3,300 a month for rent. High rents compound the risk of moving to a storefront. According to Apartments.com, renting 880 square feet in Brooklyn costs an average of $4,500 a month, compared to under $3,000 in the Bronx.
Despite the challenges, Rodriguez believes calculated risks are worth taking.
“It’s a gamble, but you’re either going to do well or you’re not. You won’t know unless you try,” she said.
Rodriguez credits her success to years of preparation and encourages aspiring business owners to stay creative and persistent.
