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100% Great Video! Many landlords will provide tenant improvement fees to go towards one's location of F&B establishment :) Also, do not forget potentially some leases may require paying common area maintenance [CAM] eg. strip mall/retail centres/busy locations. Some landlord may even require Triple Net Lease which may require the tenant to take care of insurance, property taxes and maintenance of the space leased which needs to be factored into the owner's operating expenses.
totally! triple net and base rent should be added factored in together as the rent. sometimes triple net can add to 30%+ of the whole gross rent.. so becareful guys!
Wow! Im in the beginning process of starting a business and doing my homework! This n ur other videos are extremely informative, something that one can only learn thru experience. Knowledge is power. Ur saving me from committing errors! Thank u Wilson!
Ive watched countless videos about renting commercial spacing since im embarking on my own business and I can't tell you how wonderfully detailed your vid is! Compared to others, you have the softest voice and you explain it so thoroughly understandable, you make it exciting for me to jump into my business even quicker. Thank you Wilson, you earned my sub!
Thank you!! You are absolutely amazing. I have learned so much from you. You are great teacher, you simplify the info and it is easy to understand each step.
I appreciate this video, I’m not in the restaurant industry, but I am currently searching for a storefront/warehouse space. This information is all around helpful and I am now even mor confident when speaking with brokers! Thank you
This was super helpful, with a competitive market for for prime space many landlords (or maybe the brokers) are looking for a franchised/corporate company for leasing spaces...... totally get their outlook for that security blanket of cashflow over a long lease...... but what can a small business do to get that competitive edge ?
keep looking. landlords are bleeding now with b&m closing left and right. im lucky to sign a 5 year lease prior to covid to a tenant who has 2 locations + added her in as personal guarantor.
Hi Wilson I’m new businessman and never have experience business before but I have finish bakery skill and I want to open a small bakery shop . So can you me tell what requirement landlord need to lease a retail space ? Thanks
Thanks. Very useful and unique. On the last point of % of sales as commission, financial reports are proprietary information so some kind of trusted intermediate auditor is involved that has to be paid
Wow , I am close to early retirement and thinking of starting a business. I ran across your videos and they have helped me a lot. Thank you so much , what a fine young man
Amazing content! Thank you so much 🥰 when they name you the price /sqft...how much room do you have in term of negotiating down? Right now they’re telling me $37+ $9 TICAMS...which is really high compared to some of the places I looked at...they had some tenants moved out , so I wonder they passed the higher cams to all the tenants still stay behind ? If I want to negotiate down the rate, it’s better to focus on the sqft rate instead of the cams right ? I’ve heard that ticams is often hard to negotiate since it’s pretty set . Thanks so much again! I didn’t realize I commented on this before ...which prove that I honestly found this sooooo helpful, and not just making meaningless comments🤣🥰🥰🥰🥰🖖🏼
So you should ask for renovation subsidies AND free rent? For example they give you 4 months free rent for the renovation period, do you also ask for "free rent" for after the renovation period?
Thank you for the video. I am a new Real Estate agent and has no experience in commercial rental, and your video really helped me understand what to look for and things i can explain to my clients.
My wife is looking to buy a business of a restaurant. She has an application that is asking for her SSN and My (spouse) SSN and our drivers licenses. As well as our date of birth etc. My worry is Identity theft. Is the Seller allowed to ask for all this information?.
you prolly dont care but does someone know a tool to log back into an instagram account?? I stupidly forgot my login password. I love any assistance you can give me
@Conor Ayaan I really appreciate your reply. I found the site through google and im in the hacking process atm. Looks like it's gonna take a while so I will get back to you later when my account password hopefully is recovered.
@@WilsonKLee hey Wilson, firstly appreciate the content! Actually I'm a student participating in a consulting competition to help failing F&B cope during and post pandemic. So I came across your video to get all the intel and I definitely feel more aware about the F&B landscape. Thanks again for the amazing content!!!
