The Business of Boutique Fitness
132: The Must Have Guide to Leases For Brick and Mortar Studio Owners
My first lease negotiations were far from glamorous.
I was 6 months pregnant, across the country from our chosen location, and trying to do the best I could.
Unfortunately, the best proved in time it could have been way better {and that I was lucky I was in a low enough cost community to handle the consequences}.
Since then, I’ve negotiated dozens of leases on my behalf and on the behalf of my clients and with every lease, I’ve gotten more confident in my must have rules to leases….
After all, this one little document is likely the difference between major success and…
FAILURE.
And, no one wants to deal with that seven-letter “f” word.
So let’s deep dive into the nitty-gritty, the often missed {yes, even by commercial real estate agents} and the when to make the leap from home or sublet studio to full on retail space.
Best part, you might just be able to take on some epic lease re-negotiations and use this podcast to save you thousands over the the next few years…
Or in the case of our best negotiations, $300,000 over 10 years… y’all, that’s the cost of a general manager’s base salary in most parts of the country. See why I mean, it’s worth it?
In today’s episode, you’ll learn:
- Why the lease has to be right for all of the parties involved to truly work
- The single most important thing to have when negotiating
- How to know when is the right time to lease (and a calculation to use)
- The basic terms and figures you’ll hear in the commercial leasing world
- The key clauses and phrases in leases you’ll need to be on the lookout for
- Why a shorter lease may not be in your best interest
- Remember to always ASK!
With grit + gratitude,
Lisé
