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Location and Leasing Strategies

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Information about Location and Leasing Strategies

Published on May 23, 2007

Author: cafemakers

Source: slideshare.net

Description

"Location and Leasing Strategies" as presented by Andrew Hetzel of Cafemakers at the 2007 World Tea Expo in Atlanta, GA
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Retail Location Selection and Leasing Strategies Andrew Hetzel, Cafemakers LLC

Retail locations determine the potential success of a business

Suitable sites and leasing conditions create advantages

Intuition and common sense are a gamble

Know where you want to be and why

Develop a location profile for your business

Go where the money is

Identify your customer

Convenience is king

Image is closely tied to location

Analyze the trading area

GIS software maps key data

Time is the measure of distance

Consider quality and characteristics of the population

Consider the cost and availability of store locations

Analyze your competitors' trading areas too

Don't forget about availability of labor

Select the style of site that represents your business

Are you a destination or a parasite?

Identify the size and operational requirements

Isolated stores are adaptable

Business districts offer variety

Shopping centers offer strength in numbers

Everything is negotiable

Landlords balance risk versus dollars

Maintain a positive approach

Set the boundaries of your agreement

Choose an experienced commercial real estate attorney

Letters of intent give you a foothold

Leave nothing to speculation

Have your side draft the lease

Some clauses add tenant value

Choose a term to match your business plan

Renewal clauses hedge your bets

Tenant improvements are your biggest opportunity

Step up rent gives new businesses a break

You can delay rent commencement

Caps put a limit on skyrocketing expenses

Co-tenancy clauses protect you from uncertainty

Beware of clause

CPI rent increases kick you when you're down

Percentage rent makes your landlord a silent partner

Administrative fees can grow unchecked

Continuous operations clauses block your exit

Indemnity goes both ways

Non-disturbance agreements combat subordination

Personal guarantees make you liable

Damage clauses can force you out

Always get notice for default

How do we keep track of all this information?

A good business will not succeed with a bad location

Use the assistance of professionals

Up-front planning can save or make you a substantial return

Every location should be a profitable asset to your business

Andrew Hetzel Cafemakers LLC www.cafemakers.com (808) 443-0290

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