Learn how to properly draft and negotiate a restaurant lease and how to resolve issues that may occur.
Renting and operating a restaurant is a daunting task one that requires numerous considerations, significant expenses and a lot of time and hard work. A good business plan, negotiating a good lease and excellent executions are all critical to success. Spending the time and resources to draft and negotiate strong restaurant lease is an important investment and one that is sure to pay dividends and prevent headaches in the future. With tight margins, high expenses, and stiff competition, one mistake can mean the difference between success and failure. This topic provides a road map for drafting and negotiating the best possible restaurant lease and maximizing ones chances for success.
Develop a Plan of Attack
ï Understand Goals and Objectives
ï Create a Business Plan
ï Create an Implementation Plan/Checklist
Do Your Due Diligence
ï Investigate the Landlord
ï Investigate the Location
Inspect the Premises; Negotiating the Letter of Intent
ï Who Should Negotiate the Letter of Intent
ï What Should the Letter of Intent Provide ñ Key Terms and Provisions
ï Why It Matters
Drafting and Negotiating the Lease
ï Who Should Negotiate the Lease
ï Whose or What Form of Lease Should Be Utilized
ï What Should the Lease Provide
ï How to Resolve Impasses and Successfully Complete the Lease
Jonathan M. Grosser, Esq. with Royer Cooper Cohen Braunfeld Llc
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request.