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Spirit Halloween store pop-ups are only open about 10 weeks a year, yet this year Spirit Halloween opened a record 1,575 stores across the U.S. and Canada and hired more than 52,000 seasonal workers. So how does Spirit Halloween work, and where do all those stores come from? In this breakdown, Sam is a landlord whose biggest tenant, a Party City, went dark in 2025. Then a two-page lease arrives. We follow his empty store as it comes back to life for Halloween: how Spirit's short leases and kick-out clauses work, why landlords say yes to a tenant that leaves in November, and how an empty space becomes a Spirit Halloween store in as little as 30 days. What happened to the competition? 85 of this year's Spirit stores used to be a Party City, a chain that sold Halloween too and still went bankrupt twice. Others were once Bed Bath & Beyond, Big Lots, Toys R Us and Forever 21 stores. We also go back to where it started. In 1983 Joe Marver turned a women's discount clothing shop called Spirit, in a California mall, into the first Halloween pop-up and sold about $100,000 of costumes in 30 days. Today Americans plan to spend a record $13.5 billion on Halloween, including $4.3 billion on decorations and $3.5 billion on costumes, and Spirit Christmas is already being tested. If you've ever wondered what Spirit Halloween is, why Spirit Halloween stores open in old empty stores, or what happens to them after Halloween, these are the real numbers. Chapters 0:00 Intro 0:40 The dead store 1:23 The two-page lease 2:16 Where the ghost came from 3:19 Thirty days 3:59 The witching season 4:42 The other ghost 5:49 Why it keeps coming back 7:32 November The Real Numbers breaks down the real economics of famous businesses. No hype. Just the numbers. This video is for educational purposes and is not financial advice. The Real Numbers is not affiliated with or endorsed by any company mentioned. #SpiritHalloween #Halloween #Business

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