Article of the Month:
Restaurant Lease Negotiation
(The most important clause in your lease)

So what’s the MOST important clause in the lease of a restaurant owner? Well, that’s hard to say – but I can tell you what I think is ONE of the most important clauses related to selling a restaurant business.

It’s the clause which gives you the right to assign a lease to a purchaser of the business and which prevents the Landlord from “unreasonably” withholding consent. A restaurant lease should be reviewed by both an attorney AND an intermediary specializing in restaurants, both of whom represent YOU. The knowledgeable intermediary can offer insight to the attorney on business issues which the attorney may not pick up.

So why is this so important? I think it was Warren Buffet, the stock guru, who said that the profit on the sale of a business is made when you structure the purchase of the business correctly. If you haven’t structured the purchase correctly, including getting your lease language drafted properly, this could make a dramatic difference in price and terms when you get ready to sell your restaurant business.

There is nothing worse than ..

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