I have a confession. In my career as a restaurateur, I have signed three leases for restaurants without having a broker represent me. Somehow, I had it in my mind that it would save me money. I even asked for “better terms” because I was going direct to the landlord’s agent, without realizing he was laughing at me the whole time. I should say my self-negotiated deals weren’t all bad – that is until the recession shined a spotlight on the weaknesses that could have easily been prevented with the help of California Restaurant Consulting’s restaurant lease negotiation services.
Now that I approach transactions from the real estate side of the game, my perspective has changed completely. I wish I had known more about restaurant lease negotiation when I was the restaurateur, but how could I? I had a restaurant to run and so do you.
CRC is here to help you. After 30 years in the biz, the head of my team has taught me more about restaurant real estate deals than anyone I know. Jack Anderson makes me laugh because he knows what is going on everywhere, but never goes out past nine at night! I have to work hard to keep my restaurant groove on (so to speak), but he just has the wireless coconut going all the time. It is our job to know the market street by street, concept by concept. Use our expertise to make your chance of success that much higher.
The Restaurant Lease Negotiation Lesson
The biggest piece of information I was missing in those earlier years is simple: it typically doesn’t cost anything to have California Restaurant Consulting represent you in a restaurant lease negotiation. The lessor commonly pays the broker commission. In smaller deals, it might cost you a bit up front, but those costs quickly pay for themselves as you save exponentially over the life of the lease.
I have talked to several budding restaurateurs who have recently signed deals without representation – big mistake. Most of them have all been left feeling like their deals weren’t ideal, but they couldn’t really tell either way. They don’t know what they don’t know.
Even if it’s not California Restaurant Consulting, for God’s sake get someone to be on your side in your next restaurant real estate transaction before you sign.
Call us at (949) 531-9313. You will get a better deal and sleep at night.
California Restaurant Consulting is the premier Southern California consulting firm for small restaurant chains, independent operators, franchisees, and start-ups who are lacking resources when it comes to in-house operations, real estate, marketing, menu development, strategic planning, and start-up strategy. Our team of consultants are not only advisors, but also hands-on partners. We are your second set of eyes. We are your mentors who have been there and tried that in our own restaurants. We know what works, and we want you to succeed.
At California Restaurant Consulting, we understand the demands of opening a new restaurant or expanding the one you have. Contact us today for a FREE consultation.