You are Leslie Shakesphere, owner of the bookstore in the SouthWest Plaza. Your motto: Book Lovers Unite! As one of the last book stores in town, business is going very well. You've always been pleased with the location. The plaza is part of the community. It houses one of the best restaurants in town. You've been able to establish a reputation for your knowledge of books and a strong customer base. Just six months ago, you completed a major renovation of your store

SouthWest is one of the earliest shopping plazas in the city, built back when space was purchased, not leased. You are located close to the clothing store and an old-fashioned shoe repair shop. Actually, you've always thought this was an ideal setup. People would come to your store to browse while waiting for their shoes to be repaired.

But all is not rosy on the horizon. The southwest end of the town is undergoing a revitalization. Several of the big national retailers have opened up in the area - including two that sell discounted paperback books. And, online book sales are on the

You've got to respond to this competition. You're thinking about a second expansion to add a coffee bar. One option is to build on to the back of your store. This would require physical expansion of the building, zoning permission, and legal fees. You have a potential budget of $90,000. A second option would be to use the space occupied by the shoe repair shop that borders your store. This could be a way to save some money, You have $90,000 to spend, but you want to save some of that to build a coffee bar in the expanded store, buy some nice comfortable chairs for reading, and maybe even put in a music section.

And what luck! You've just gotten a call from Mr. Pear, owner of the shoe repair shop, asking to meet with you. (He's a likable character. His real name is Shubert, but everyone calls him "Shui" - "Shuie Pear.") He says he's ready to retire and wanted to speak with you about his space. You remember hearing that Mr. Pear only paid about $25,000 for the space when the plaza was being built, but prices have gone up since then. You're sure he is talking to the shoe-store owner as well.

• What role were you in this scenario?
• Did you sell/purchase the shoe store? If so, for how much?
• How satisfied are you with the result?

Answer rating: 100% (QA)

Role in the Scenario Leslie Shakesphere owner of the bookstore in the SouthWest Plaza Did you sellpu... View the full answer