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How to pick the best location for your golf center and get a great lease
You know the saying in real estate. . . location, location, location. How do you find the best location for your golf center and make sure that you get the best lease. Commercial leases can be complex and many businesses fail to survive in part because they did not get the right location or the right lease. Make sure you aren't one of them. Below is a free commercial lease checklist and a tool to help you find the best location for your business.
Commercial lease checklist:
Given how important it is that you get this right and how complex a commercial lease could be, we strongly advise you consider getting a lawyer to review and help negotiate your lease. It could save you thousands and insulate you against risks you may have overlooked. Below is a checklist to give you some idea of what to think about with respect to your lease:
Golf center location tool:
Picking the best location can be a complicated endeavor. You want to be sure you are convenient to customers, have the right amount of space, aren't paying too much, understand build out for your facility and more. It's a lot to stay on top of as you are trying to start a business. Make it easier with our location analysis tool. With a small amount of data to collect on each property, we give you 8 comparative financial metrics and 11 descriptive comparisons on each property. We also show you have to find out the number of your target customers in a 5 mile radius from each location.
Here are a few screenshots from the location analysis tool:
Commercial lease checklist:
Given how important it is that you get this right and how complex a commercial lease could be, we strongly advise you consider getting a lawyer to review and help negotiate your lease. It could save you thousands and insulate you against risks you may have overlooked. Below is a checklist to give you some idea of what to think about with respect to your lease:
- Non-compete: ask the landlord not to lease space near you to a competitive business.
- Liability: who is liable for damages (I.e. toilet overflow damages building, customer drives into building, etc).
- Prohibitions: are there any prohibitions that could limit your business plan (I.e. cooking, liquor, etc).
- Common areas: how are lobbies, bathrooms, etc shared among tenants.
- Signage: What are you allowed to do, how does it have to look, etc.
- Default and termination: under what conditions and or penalties can either party extract themselves from the lease.
- Dispute resolution: how will disputes be resolved, if you can get arbitration or mediation, it is often cheaper than court.
- Rent: What you pay, what it includes and any caps or minimums around rent increases on renewal, due, late fees.
- Landlord repair obligations: what are they obligated to repair and how does notice of an issue have to occur.
- Term: length of the lease and options to stay or leave and how long of notice you have to give for each.
- Services: what is the landlord obligated to provide and to what service level (I.e. HVAC, water, window washing, etc).
- Taxes: what is your share of the property tax and how is it calculated - make sure only to get your fair share.
- Spatial details: how much of space is being rented, ability to expand, get actual measurements and be sure to note any discrepancy from what is listed as it can be a bargaining point.
- Parking: are there designated spaces, how many, undesignated spaces, how many.
- Additional costs: what do you have to pay on top of rent like electricity, janitorial services, taxes - again be sure you know how share is calculated if other tenants are in the building.
- Security deposit: can good credit replace deposit, how is deposit held, how can deposit be withheld.
- Sublease: if for some reason you cannot use the space, are you allowed to sublease.
- Tenant repair: what are you responsible for as the tenant.
- Storage: do you have storage included if you need it.
- Improvements: What sort of fixtures, modifications or other improvements are allowed, who is paying for them and who owns them at lease end.
- Permitted use: is your desired use allowed by the lease and appropriate for the space.
- Electricity: who pays, is it metered separately, etc.
Golf center location tool:
Picking the best location can be a complicated endeavor. You want to be sure you are convenient to customers, have the right amount of space, aren't paying too much, understand build out for your facility and more. It's a lot to stay on top of as you are trying to start a business. Make it easier with our location analysis tool. With a small amount of data to collect on each property, we give you 8 comparative financial metrics and 11 descriptive comparisons on each property. We also show you have to find out the number of your target customers in a 5 mile radius from each location.
Here are a few screenshots from the location analysis tool:
You are going to spend thousands on your facility, make sure to pick a great location and get the right lease. Get our location analysis tool below and find the location that best suits your business.