[fa icon="calendar"] 03.19.2019 / by Demetree Real Estate Services
Every restaurant owner dreams of the perfect location for their business. The location has a big impact on the restaurant's success or failure in a variety of ways. From attracting customer interest to being easy to visit. However, there are many challenges to finding a great retail space for lease for your new restaurant.
Here are some factors to look at when choosing a restaurant space.
1. Visibility and Accessibility: Visibility is crucial for new restaurants. Restaurants tucked behind buildings or without signage are significantly disadvantaged. As a restaurant owner, you want to choose a location that is conveniently located and easy to access, or near business and residential areas. Look for a restaurant space for lease that is comfortable and attractive for your customers. There are also some free standing restaurants for lease near the highway so it easier for your customers to find you. Easy accessibility is an essential part of restaurant site selection that must not be ignored.
2. Parking and Other Amenities: Parking is an important part of the location as well. You have to anticipate where your customers will park and ensure that the commercial spaces you’re considering has adequate parking. If your restaurant does not have a designated parking space, customers can easily go to another restaurant that has parking. Also, you have to check if the building or space you have chosen for your restaurant has the amenities you want.
3. Space Size: The restaurant and retail space for lease come in all shapes and sizes. The size of the location is also an important factor to consider during the selection process for the restaurant site and the space must fit your size requirements. The restaurant space should be sufficiently large for all your kitchen equipment such as your cooking stove, freezer or commercial refrigerator. The more spaces you visit, the more likely you will find the right space for your business.
4. Affordability: In terms of overall profitability, your sales and rental costs play an important role. If the rent or purchase of the space exceeds your monthly profits, this location is not feasible at that time. A good place is essential, but spending a fortune on the restaurant site does not make sense.
5. Property Management: Managing retail property is a time consuming and overwhelming responsibility. Renting or leasing a restaurant space means working with a landlord or property management that supervises your lease. Choose a space that has the best property management. Commercial space property managers maintain administrative and financial records and update all applicable maintenance, taxes, mortgages and insurance.
6. Lease Terms and Contract Clauses: Good knowledge of commercial leases should also help you to negotiate a better contract and avoid legal problems. A strong understanding of the lease terms is important. It includes when you can take the space to advertise your new location to customers. Some things you should consider in regards to your lease include the length of the lease, rent increases and associated rents, improvements, sublease and assignments.
Lastly, when choosing a restaurant location, the most important thing you should consider is your customers and your target market. Talk to the people in your chosen area and find out about their dining tastes and expectations. This will give you the best information you will need for your business success.
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When it comes to real estate in Orlando and Central Florida, Demetree has a rich tradition in the Central Florida community dating back to the 1940s. The Demetree family has been a pillar and major contributor to what Orlando and Central Florida are today.
For decades, Demetree Real Estate has been specializing in providing property management, leasing, development, consulting and construction management services to property owners throughout Florida. As Central Florida’s oldest, locally owned, full-service commercial real estate management firm, we believe that business is built on relationships. That’s why honesty and integrity are at the heart of everything we do.
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