Location, Location, Location ... Plan for Yours!

Every business operates from a location. 
... What's yours?

With some businesses, their location isn't quite as obvious as it is with others, particularly if they operate in a virtual environment - using their website as a base, augmented with social media channels, and e-commerce enabled platforms for business transactions and delivery. At the same time, some businesses are mobile - connecting with clients through email messages and cell phone calls, or operating from a vehicle and travelling to meet clients at the client's location or another convenient location.

We've seen a number of businesses over the years that have started from a home based location and moved into larger space, often when the residential location no longer meets their requirements. One example that we've personally had contact with is Jacqueline Jacek, of JACEK Chocolate Couture www.jacekchocolate.com   

We first met Jacqueline a few years ago when she attended a "Business START-UP Seminar Series" that we facilitated in Strathcona County, just east of Edmonton. Since then, her business has grown and expanded from being home-based, to having multiple locations. We were very pleased to video record some great comments provided by Jacqueline. These can be found on a couple of video clips now available for viewing on our YouTube Channel.  Here's a link to a very short video providing a quick overview of Jacqueline's background as well as some comments on starting a business and the value of mentorship for entrepreneurs.   

CLICK HERE to view this video.

Regardless of the approach used by the business owner, you will likely have an actual office location for your business - a place where you can be reached and that you use to run your business. 

Have you done an assessment of your location needs and incorporated that into your business plan? The more complex your business location needs, the more time and energy that will likely be needed to make sure your location won't become a potential problem in the future.

Now, in this guest blog post, here are some insights from the experienced professionals with The Lease Coach.  Thank you Dale and Jeff for providing the following tips for our audience.


Negotiating Commercial Leases & Renewals For Dummies

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach 

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate. 

As explained in our new book, Negotiating Commercial Leases & Renewals For Dummies (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants: 

Meet the Landlord: Frequently, the property manager or leasing agent has some influence, but limited decision-making power when it comes to your lease. While it is not always possible to meet the landlord in person, ask (at least) to speak to him by telephone. Be prepared for this conversation and ask thoughtful questions. Even if you must do most of the deal through the landlord’s representative, you can still call him/her back to clear up a few unresolved issues at the end. Doing this can also set a positive tone for your entire lease term. 

Meet the Property Manager: The property manager is usually available to meet a tenant in person if the landlord is unavailable or otherwise busy. Following negotiating a lease agreement through the landlord’s leasing agent, many tenants will begin dealing with the property manager, Try to meet the property manager before signing your deal and ask about their experience and relationship with the landlord. Confirm any verbal promises made by the leasing agent with the property manager. Your relationship with the property manager is important enough to start cultivating in advance. 

Who Makes the First Offer? Whether you are looking at a new lease or a renewal, it is best if the landlord makes the first proposal. Don’t be surprised if your verbal request (especially for a renewal proposal) falls on deaf ears. Write a brief letter to the leasing agent or the property manager and request a meeting within ten days. If you make the first offer on a new lease, this indicates that you are strongly interested in the unit. When making the first offer on a renewal, this implies that you will be staying … in both cases, making the first offer undermines your negotiating strength. 

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to DaleWillerton@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com. 

Thank you Dale and Jeff for providing our readers with these great tips for their consideration. 

We'd be very pleased to have our readers provide their comments, tips and suggestions to further help our audience of entrepreneurs!

* And please let us know if we can provide some assistance as you develop your business plan and grow your business. We'd be more than happy to talk with you at your convenience!

  CLICK HERE for more information and details from our Website!