Location Location Location

Which Way Should I Go?

Need Help in Making Travel Plans What are all the questions you would need to ask in order to know . . . “Which Way Should I Go?”

Which Way Should I Go? How do the questions we asked about my travel plans relate to those questions that would need to be addressed for where to locate a business?

In this Section of Your Business Plan Factors that influence site selection Different factors to consider for type of business Service vs. Retail vs. Manufacturer Information on where to locate Determining to lease or buy Trends in location Layout and interior design of business

For Tomorrow Worksheet- Article- Preliminary Thoughts on Location Entrepreneur Magazine Location, Location, Location Identify key points Due Tomorrow

Options for Site Selection Two options Lease Buy Why might a person rent (lease) an apartment? Why might a person buy a home? Why might a business lease a site? Why might a business buy a site?

To Lease or To Buy Buying a Space Advantages Tax Benefit Develop equity Disadvantages Initially a large expense Locked into a location Added expenses

To Lease or To Buy Commercial Lease What do we call the following? Owner/manager of the property Leasing agreement Person leasing What is generally covered on the lease?

Types of Leases Gross Lease Net Lease Percentage Lease Landlord covers everything from the rent paid by the tenant Net Lease Tenant would have additional expenses after rent, such as taxes, heat, etc. Percentage Lease Most common Rent + % of sales Anytime this may be good?