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What are the things that you should be prepared with if you are looking to lease a commercial property for your business?
Number one, you should have your business incorporated.
Most owners would like you to have two to three years in business experience before they’re truly looking to do a long-term lease with you. However, if you’re a new business you should have bank statements that show that you have the assets available to maintain the property and your rents for at minimum six months to a year.
Number two, what is your plan?
So having a great idea opening a taco spot on First Avenue, it’s an excellent opportunity because of all the people who are in the city and looking for great food, however what are you doing differently that’s going to generate additional customers? Are you utilizing platforms for delivery? Do you have a very unique take on your business model? Or do you have a top chef that’s attracting people to your store? Always think ahead on how to truly make your business unique.
And number three, what does your team look like?
As much as owners want to see that you’re financially stable, as well as that you have a great concept, they want to know who’s going to run the business. Is it someone who has a little bit of experience running this kind of an operation or is this someone that’s coming from a completely different business and has zero knowledge of what’s going to happen?
And those are three things you may need to know before releasing a commercial space here in New York City. So if you’re looking to lease a commercial space, feel free to reach out to us. Ask us any questions you’re curious about.