Lease negotiation and landlord proposal

Hi supergirl!

Everybody is giving good advice, all a little different.

There is another way to think of how to prepare yourself for negotiations. Think of buying a major appliance. When you go to purchase an appliance, you know before you start what you can afford. Buy if you plan on making payments, then you must show that you will have the ability to make those payments. That is what your business plan does for you. With the added plus of presenting you as a prepared professional in your business.

As far as a landlord taking advantage of those figures, if you have prepared conservative figures (which is the recommended method) then you will know what your ceiling for rent is before you initiate the meeting! And if you are investigating several locations, with the proper research you will know the approximate rent that will be required. Your business plan may well be contigent on the income a particular location will produce. So tailoring it to reflect that location would be appropriate.

As you will be considered a professional restaurant owner (and should consider yourself as such) your demeanor will influence the meeting and the negotiations. All of this is of course is dependent on the proper research having been done on what a restaruant/retail lease would normally entail, including the particular costs of build-out in the chosen location.

Obviously, being thoroughly prepared will be the major factor in easing the negotiating process for you! And the tips on how to handle the meeting, such as being the one to bring it to a close, will all work together to put you in a professional appearing position to everyone that you deal with.

My opionion is you are hiring a service. Not an employee, more like a sub-contractor, mutually benefitial to each other. Show a landlord that you are ready to be a perfect tenate! He is giving you the service of a great place to operate in and you are giving him a great tenate that he can rely on to produce the income he is looking for and an attractive business occuping his space making all of his holdings look better! Show him your business is the ONLY one that is best for him.

Have you had any meetings yet? How have they gone and did you feel like you presented yourself well? I would love to know!

Cheryl Ann