Lease Terms You HAVE TO Know About When Starting A Restaurant & Small Business 2022

Рет қаралды 49,634

Wilson K Lee - How To Open A Restaurant / F&B Shop

Күн бұрын

Starting a restaurant business? Make sure you know these restaurant lease agreement terms!
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👀 ABOUT THIS VIDEO
After doing business for over a decade and being in both a tenant and landlord position, I've learnt a thing or two about lease agreement terms. Some that many new small business owners and upcoming restaurant owners may not know about.
This short video could help you SAVE $50,000 by you being more knowledgable about what agreement terms to look out for and what to negotiate on. I wish I had this video shown to me when I started my business...
Things like understanding terms, how to properly compare different units, having the confidence to negotiate free rent or ask for renovation subsidy, or whether there are exclusive competitors allowed. ALL these things could make a massive difference for your business.
So if you're an upcoming restaurant owner, restaurateur, small business owner, food business owner, or have aspirations to open your own restaurant in the future...keep on watching this.
Lease Terms You HAVE TO Know About When Starting A Restaurant & Small Business 2021
• Lease Terms You HAVE T...
• Lease Terms You HAVE T...
#wilsonklee #startasmallbusiness #leaseterms
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👤 ABOUT WILSON:
I’m Wilson, your new restaurant business partner. I’m here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) it’s been my mission to share this knowledge with people like you who have great ideas, but just can’t seem to break through. If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
I’ve helped hundreds of restaurant owners and entrepreneurs create explosive Food & Beverage businesses. You don’t have to take my word for it. I’ve been awarded Top 30 Under 30, Young Entrepreneur of the Year, Top 10 Emerging Entrepreneurs, and recently a Forbes Business Council Member.
Subscribe to see what everyone’s talking about and learn how you can achieve the same life-changing results.
Find more great resources, check out www.wilsonklee.com/
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Пікірлер: 103

@mahoganyreynolds 5 ай бұрын

"the devil is in the details" lol 😂 well you might wanna pray before you sign anything. 😂 great video!

@Gravytrain894 3 жыл бұрын

Ive watched countless videos about renting commercial spacing since im embarking on my own business and I can't tell you how wonderfully detailed your vid is! Compared to others, you have the softest voice and you explain it so thoroughly understandable, you make it exciting for me to jump into my business even quicker. Thank you Wilson, you earned my sub!

@WilsonKLee 3 жыл бұрын

Wow, thank you! Im happy to hear you found this helpful and motivating! Best of luck!

@maxmcnamara8382 2 жыл бұрын

Thanks so much for taking the time out to school us; this was extremely helpful.

@algordon5965 Жыл бұрын

Thank you for the intel.

@elkrenew 2 жыл бұрын

Thank you. Good information 🥳

@Msbusinesss 2 жыл бұрын

Amazing! Thanks for sharing this information

@rafaelriveramestre7976 3 жыл бұрын

Thank you for your time. Being prepared is always nice.

@user-ip2yh5hy6i Жыл бұрын

Thank you so much for this! Suuuper helpful!

@ishabee8789 3 жыл бұрын

Thanks so much I learned alots

@yourtimeyogawithyasmin9811 Жыл бұрын

Great informative video.

@johnjunior22 6 ай бұрын

One of the greatest videos so far.

@arslanmoghal5472 9 ай бұрын

Nicely explained Thanks 👍

@naomipino2722 5 ай бұрын

thank you for this very helpful information

@BlackSugarRibCompany 19 сағат бұрын

Fantastic!

@indrajitgurung9828 3 жыл бұрын

first of all thankyou sir i enjoyed watching your video its really informative .

@arttsai7665 4 жыл бұрын

100% Great Video! Many landlords will provide tenant improvement fees to go towards one's location of F&B establishment :) Also, do not forget potentially some leases may require paying common area maintenance [CAM] eg. strip mall/retail centres/busy locations. Some landlord may even require Triple Net Lease which may require the tenant to take care of insurance, property taxes and maintenance of the space leased which needs to be factored into the owner's operating expenses.

@WilsonKLee 4 жыл бұрын

totally! triple net and base rent should be added factored in together as the rent. sometimes triple net can add to 30%+ of the whole gross rent.. so becareful guys!

@karimerios5593 Жыл бұрын

Thank you!! You are absolutely amazing. I have learned so much from you. You are great teacher, you simplify the info and it is easy to understand each step.

@grandmastersethy 3 жыл бұрын

Great video! So helpful!

@WilsonKLee 3 жыл бұрын

Glad it was helpful Sethy!

@ericahill4271 3 жыл бұрын

Thank you so much for all your videos.

@WilsonKLee 3 жыл бұрын

You are so welcome!

@sandychoi8165 2 жыл бұрын

Thank you for the video. I am a new Real Estate agent and has no experience in commercial rental, and your video really helped me understand what to look for and things i can explain to my clients.

@angelabowles1767 6 ай бұрын

Thank you. I took lots of notes. I am in the process of moving to our local mall. Fresh Food Matters in Nova Scotia

@SaulLopez-bu6pg 2 жыл бұрын

Thank you very much for this great video!

@WilsonKLee 2 жыл бұрын

You're very welcome!

@seifkhalifa896 4 жыл бұрын

Very useful video!! Keep the work up

@WilsonKLee 4 жыл бұрын

Glad it was helpful!

@antoniodossantos5960 2 жыл бұрын

Thanks Wilson 🌎

@tutorrio8150 4 жыл бұрын

Hey Man, I thoroughly enjoy watching your vids. Its packed full of insights and practical wisdom. Thank you for sharing with your viewers.

@WilsonKLee 4 жыл бұрын

I appreciate you for tuning in!

@lchai7012 4 жыл бұрын

Learning a lot from you. Thanks!

@WilsonKLee 4 жыл бұрын

Glad to hear it!

@Loantt83 3 жыл бұрын

Wowww i learned so much with ur video compared to the 9 other videos I’ve watched! Thanks so much 🥰🥰

@WilsonKLee 3 жыл бұрын

Glad it was helpful!

@paulmontoya3167 3 жыл бұрын

Great and important information! Thank you sir! What a way to give back! Awesome!

@WilsonKLee 3 жыл бұрын

You bet!

@brahimbechar7832 2 жыл бұрын

Thanks, very informative.

@WilsonKLee 2 жыл бұрын

You're welcome! Let me know if you have any video topics you'd like me to cover in the future Brahim

@dolladolldoll2862 3 жыл бұрын

Really informative video

@WilsonKLee 3 жыл бұрын

Glad you liked it!

@Rayxnyc 3 жыл бұрын

Very good presentation, easy to follow & great info.. Thanks 👍

@WilsonKLee 3 жыл бұрын

Glad you enjoyed it!

@Carl0347 Ай бұрын

Wow! Im in the beginning process of starting a business and doing my homework! This n ur other videos are extremely informative, something that one can only learn thru experience. Knowledge is power. Ur saving me from committing errors! Thank u Wilson!

@nubiaperojo5930 3 жыл бұрын

Excellent presentation. Thanks

@WilsonKLee 3 жыл бұрын

Glad it was helpful for you Nubia!

@SERGE_Tech 3 жыл бұрын

DUDE you just made a bunch of good related videos and I'm gonna watch all of them.

@WilsonKLee 3 жыл бұрын

Appreciate the kind words serge!

@nataliewongg 3 жыл бұрын

Wish I found your videos sooner!! I got not as great lease terms as I could’ve 😭

@Ng-wp4sf 3 жыл бұрын

I really enjoyed your video Thank you

@WilsonKLee 3 жыл бұрын

Glad you enjoyed it

@SERGE_Tech 3 жыл бұрын

dang one of the best lease rental tips video thank you!

@WilsonKLee 3 жыл бұрын

:))

@athenanimmer6439 2 жыл бұрын

Super helpful 👌🏾

@WilsonKLee 2 жыл бұрын

Glad you think so!

@anthoniaerieguna2041 3 жыл бұрын

Wow , I am close to early retirement and thinking of starting a business. I ran across your videos and they have helped me a lot. Thank you so much , what a fine young man

@WilsonKLee 3 жыл бұрын

Great to hear!

@jeffharmed1616 Жыл бұрын

Thanks. Very useful and unique. On the last point of % of sales as commission, financial reports are proprietary information so some kind of trusted intermediate auditor is involved that has to be paid

@obeythecrownlifestyle 3 жыл бұрын

I appreciate this video, I’m not in the restaurant industry, but I am currently searching for a storefront/warehouse space. This information is all around helpful and I am now even mor confident when speaking with brokers! Thank you

@WilsonKLee 3 жыл бұрын

Glad it was helpful for you! Best of luck with the brokers!

@byoteeth2233 3 жыл бұрын

you're so smart thank you

@WilsonKLee 3 жыл бұрын

Thank you for the kind words!

@AllThingsVon1277 2 жыл бұрын

Wow super information. I think I'll start with a good truck first . Too much red tape.

@vishnudevindran9787 2 жыл бұрын

one of the best vids by far

@WilsonKLee 2 жыл бұрын

Thanks Vishnu! Are you starting a restaurant or food business?

@vishnudevindran9787 2 жыл бұрын

@@WilsonKLee hey Wilson, firstly appreciate the content! Actually I'm a student participating in a consulting competition to help failing F&B cope during and post pandemic. So I came across your video to get all the intel and I definitely feel more aware about the F&B landscape. Thanks again for the amazing content!!!

@Loantt83 3 жыл бұрын

Amazing content! Thank you so much 🥰 when they name you the price /sqft...how much room do you have in term of negotiating down? Right now they’re telling me $37+ $9 TICAMS...which is really high compared to some of the places I looked at...they had some tenants moved out , so I wonder they passed the higher cams to all the tenants still stay behind ? If I want to negotiate down the rate, it’s better to focus on the sqft rate instead of the cams right ? I’ve heard that ticams is often hard to negotiate since it’s pretty set . Thanks so much again! I didn’t realize I commented on this before ...which prove that I honestly found this sooooo helpful, and not just making meaningless comments🤣🥰🥰🥰🥰🖖🏼

@courtneyziani6045 3 жыл бұрын

Super helpful, thanks for helping me not sound like an idiot (like I was before this video, lol) ❤️

@WilsonKLee 3 жыл бұрын

No worries Courtney! We all start from knowing nothing and this isn't exactly taught in school. Best of luck!

@JadeMizhani 3 жыл бұрын

This helped a lot . Can’t wait to find a location.

@WilsonKLee 2 жыл бұрын

Best of luck!

@dannyvo9895 3 жыл бұрын

Love your material. Really helpful as i am opening a new restaurant soon

@ChawletMelk 3 жыл бұрын

So you should ask for renovation subsidies AND free rent? For example they give you 4 months free rent for the renovation period, do you also ask for "free rent" for after the renovation period?

@danschneider9524 3 жыл бұрын

This was super helpful, with a competitive market for for prime space many landlords (or maybe the brokers) are looking for a franchised/corporate company for leasing spaces...... totally get their outlook for that security blanket of cashflow over a long lease...... but what can a small business do to get that competitive edge ?

@WilsonKLee 3 жыл бұрын

keep looking. landlords are bleeding now with b&m closing left and right. im lucky to sign a 5 year lease prior to covid to a tenant who has 2 locations + added her in as personal guarantor.

@capitalmusic7882 3 жыл бұрын

Hi Wilson I’m new businessman and never have experience business before but I have finish bakery skill and I want to open a small bakery shop . So can you me tell what requirement landlord need to lease a retail space ? Thanks

@diasab 4 жыл бұрын

Very good video, but I need to know how should I choose a good location for my restaurant, on what basis?

@WilsonKLee 4 жыл бұрын

I have another video on my channel that will help you with that :)

@diamondlee5156 2 жыл бұрын

How do you bring up negotiating the rent and ect..??

@oladejioladapo6618 2 жыл бұрын

Hey man I need your help in looking at my response to a property I am trying to rent for my restaurant start up.

@dear1975 4 жыл бұрын

I'm watching

@WilsonKLee 4 жыл бұрын

Thanks for tuning in!

@polkprincess2714 3 жыл бұрын

Is 500 square feet enough for a Cuban sandwich shop ..pressed sandwiches

@emmanuelbayonas6798 3 жыл бұрын

Using these points to negotiate a lease for my barbershop, thank you for the info ! Definitely would not have had know all of this , great content 👍🏻

@WilsonKLee 3 жыл бұрын

My pleasure Emmanuel! Best of luck with the negotiations! Let me know how it goes :)

@francisbraden1309 2 жыл бұрын

you prolly dont care but does someone know a tool to log back into an instagram account?? I stupidly forgot my login password. I love any assistance you can give me

@conorayaan5691 2 жыл бұрын

@Francis Braden instablaster :)

@francisbraden1309 2 жыл бұрын

@Conor Ayaan I really appreciate your reply. I found the site through google and im in the hacking process atm. Looks like it's gonna take a while so I will get back to you later when my account password hopefully is recovered.

@francisbraden1309 2 жыл бұрын

@Conor Ayaan It worked and I actually got access to my account again. I am so happy! Thanks so much you saved my account :D

@WilsonKLee 4 жыл бұрын

💎 [FREE COURSE] Learn how to start an online food business - swiy.co/start-FPF-program 🚀 [FREE COURSE] Learn how to start a restaurant/brick&mortar business - swiy.co/Start-PRO-Academy

@rochaalexandre105 4 жыл бұрын

I'm trying to see which business is the most profitable in London

@WilsonKLee 4 жыл бұрын

any type that you're super passionate about?

@rochaalexandre105 4 жыл бұрын

@@WilsonKLee Hospitality , I would like to open my foodtruck

@rochaalexandre105 4 жыл бұрын

I like it but I don't have enough information,

@petitplie 3 жыл бұрын

They can not increase rent on a fixed term though, right?!

@Its_freemund 3 жыл бұрын

What tax deduction/credit consideration should I know of if I (tenant) am to pay leasehold improvements on a retail (restaurant) space?

@toneymc2674 3 жыл бұрын

My wife is looking to buy a business of a restaurant. She has an application that is asking for her SSN and My (spouse) SSN and our drivers licenses. As well as our date of birth etc. My worry is Identity theft. Is the Seller allowed to ask for all this information?.

@rudafitness9870 2 жыл бұрын

If something were being financed I would assume so. Otherwise no