Searching out that perfect space for your business - whether a bar, restaurant or retail store - can be exhilarating, filling your mind with images of a packed house generating sale after sale.
Before you can begin your build out and get those doors open, you must wrestle with legal and regulatory obstacles as well as negotiate the commercial lease. Plenty of diligence goes into making sure that the space is fit for your purpose:
- Is the space certified for your intended use?
- Are there any problems with the building's owner or management company?
- Can this location be licensed by the State Liquor Authority?
These and many other questions require careful consideration before any deal is signed.
When it comes to the lease itself, it is essential that you negotiate terms that are unique to your business. This is especially true when it comes to restaurants and bars.
- Can you get a few months of free rent while you build out a new kitchen?
- If you don't get a liquor license, will you be able to get out of the lease?
- Does the lease have an assignment clause?
Signing a lease that significantly impairs your ability to run your business is a non-starter.
It is imperative that you hire a professional to help you navigate complex process full of contingencies and written in often-incomprehensible language. I offer legal representation for the full commercial lease process, helping you find the space that fits your needs, drafting and reviewing key documents including letters of intent/term sheets, and negotiating a lease that works for you. I can also connect you to other professionals to help with building permits and insurance. My services are much more than just marking up documents and talking on the phone - I offer holistic advice and counsel, personally invested in setting your business up to succeed.
If you are on the hunt for commercial space, contact me to talk about how I can help you with your legal needs.