This post was updated December 3rd 2019.
An endeavor into the restaurant business is, needless to say, a challenging one. Establishments come and go like the direction of the wind, leaving business owners reeling and skeptical. Unless you’re a well-established restaurant with multiple locations, chances are you’ll be looking to lease a restaurant space rather than to buy a property outright. Because of the upfront costs of starting a restaurant, hiring and training staff, and performing any needed repairs or alterations to the property, most restaurant owners prefer to lease a property rather than deal with the upkeep of a privately owned space.
Finding a property to lease is one the most crucial steps in determining whether to open a restaurant, as location is often cited as a critical factor in the success of a restaurant. The right location in the right neighborhood will reap major benefits for a restaurant owner of any experience level.
But before you start searching for the ideal spot, there are some things you need to know about leasing a restaurant space. This guide will transform any aspiring restaurant owner into a well-equipped and savvy commercial real estate expert so you and your partners can find the perfect location for your dream establishment.