Should restaurants lease or buy? Buying or leasing is always a prime consideration for a new business, and the question for a new restaurant can be especially problematic. There are pros and cons to either decision.
How to Avoid Risky Relocation Clauses in Restaurant Leases
Finding the perfect spot for your restaurant was not easy. But after months and months of searching you nailed down a great location with excellent street visibility.
The dust from construction is gone and business is booming.
As you are preparing to open for the day, your landlord drops by to have a few words with you. As he delivers a 30 day notice to relocate your restaurant to the rear of the shopping center, your stomach clenches up like a vice. How can this be happening?
This is not a fantasy. Many shopping center leases include a Relocation Clause.
How to Lease a Restaurant
How to Lease a Restaurant
If you are planning to lease a restaurant, there are dozens of details that can go wrong. With a little planning and insider knowledge, you can minimize your risk.
Rent for Restaurant-How to Determine the Right Rent for a Restaurant
Rent for Restaurants- What is the right rent for restaurants?
Determining the acceptable rent for your restaurant is critical to your success.
The general rule of thumb is your total occupancy cost (rent and additional fees for property taxes, insurances, etc.) should not exceed 6-10% of your gross sales.
The numbers that are right for your business may be lower or higher depending on other factors.
4 Things Your Restaurant Can Fix ( And The 1 You Can’t)
In each episode of Restaurant Impossible, Robert Irvine rides in on his white horse to fix broken restaurants. In most cases, the problems are caused by the owners lack of knowledge, systems or ego.
Robert gets down to business and back to basics:
- Menu
- Service
- Ambiance
- Understanding/Controlling Food Costs
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