Tips to Lease a Restaurant

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Tips on Leasing a Restaurant

• If youre interested in leasing a restaurant,
  there are a lot of details to be aware of. With
  proper planning and assistance, you will be able
  to get the best possible outcome for your lease.
  Below are some of the things you should know.
• Beware of the Time Element
• Time can be very helpful to you. At the same time
  no pun intended, it can cause specific
  challenges. Many new restaurant owners dont
  estimate enough time when it comes to finding the
  best location. They frequently underestimate the
  amount of time for negotiating a restaurant lease
  and building or remodeling the space.
• Do you want to lease restaurant space? If so, be
  sure to give yourself more time than you would
  expect. Typically, you can estimate around 12
  months to find the right space and to get the
  appropriate permit, to remodel the space and to
  open for business.
• Always be Ready
• Once you find the right location, which usually
  takes around six months, the rest of the process
  for starting a restaurant goes very quickly. You
  will need to be ready for things to progress
  quickly, once the space is found. Below are some
  factors you should already have figured out.
• Know Your Business Plan
• Some of the primary elements of your business
  plan will include your menu, your pricing and
  your target customers. These factors will impact
  where to lease your restaurant. A menu with low
  pricing will fit one location better than a menu
  with higher priced items. Think of the people who
  want to purchase your food. Where do they like
  to be? Where do they work, where do they live,
  where do they go for fun? This is something to
  think about. You want your restaurant to be where
  you customers are.
• Know Your Budget
• Nobody wants to pay too much rent on a lease.
  Your business plan will help you determine a
  realistic budget for your restaurant lease. Here
  are some general rules.
• Your total occupancy cost will not be greater
  than 6-10 of your gross sales.
• Your exact lease rate will depend on other
  specifics about your restaurant.
• More Tips for Leasing a Restaurant
• The tips above were all talked about in How to
  Lease a Restaurant. If you want more
  information, Id encourage you to go to that
  website and read the full blog post. There is a
  lot that needs to be done to be a successful
  restaurateur. The original article will arm you
  with more valuable information.

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Good luck with your business and if you need to
find commercial real estate in the Los Angeles
area or anywhere else in California, let me
know and Ill be happy to help! Article Source
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ing-a-restaurant