F+B Hospitality Leasing Brokerage’s Post

Why are these factors so important, especially in Miami? With prices soaring out of control, restaurant owners face tough challenges. Here's our advice for navigating these turbulent waters: 1️⃣ Find a space that costs less than $100 per square foot. In Miami's competitive market, this ensures affordability while maintaining a desirable location. 2️⃣ Ensure your grease trap is updated and compliant to avoid fines and closing your doors for updates which can take up to 18 months🤯 3️⃣ Opt for second-gen locations to avoid hefty impact fees for changing the designated use of a space, ensuring smoother transactions and quicker openings. 4️⃣ Get creative and consider setting up shop in a hotel or food hall. Leveraging existing foot traffic and amenities can attract customers and enhance brand visibility. 5️⃣  Work out flexible lease agreements, such as percentage-based rent structures or natural break clauses, to adapt to changing market conditions. 6️⃣ Delay lease payments until after obtaining the certificate of use for new construction projects to mitigate financial risk. 7️⃣ Keep rent below 10% of overall revenue to safeguard profitability and weather economic fluctuations. Surviving and thriving in Miami's competitive restaurant landscape demands strategic decision-making and meticulous planning. As a restaurant broker, these insights are invaluable for guiding clients toward sustainable success in the industry. You think you have what it takes to open a restaurant in Miami. F+B has your best interest in mind so DM us and let's talk about it. Do you agree with these tips or have others? Let us know in the comments below!

Leasing a restaurant is a common approach in the industry, offering various advantages for buyers. Here are some key reasons why leasing is the preferred choice for many restaurateurs: Leasing a restaurant offers numerous advantages that make it the preferred choice for many restaurateurs. 🍴 FEATURES: 🏢 Lower Initial Investment: With leasing, you can start your restaurant with a smaller upfront investment compared to purchasing real estate. This makes it a more cost-effective option, allowing you to save money for other business needs. 🌟 Flexibility: In the ever-changing restaurant industry, flexibility is crucial. With leasing, you have the freedom to adapt to market conditions and relocate if needed. This allows you to stay competitive and make strategic business decisions. 🔒 Reduced Risk: By leasing, you shift property-related risks to the landlord. This includes market fluctuations and property maintenance, giving you peace of mind and allowing you to focus on running your restaurant. 📍 Access to Prime Locations: Leasing gives you access to prime locations that may be financially out of reach for purchasing, especially in high-traffic areas. This allows you to attract more customers and increase your chances of success. When considering leasing a restaurant, it's essential to review administrative costs and have a team to support you during negotiations. Understanding all financial obligations is crucial to avoid future financial strain. Interested in leasing a restaurant? Explore opportunities today to benefit from financial flexibility, reduced risk, and access to prime locations while minimizing future financial exposure. #RestaurantLeasing #BusinessDevelopment #FinancialFlexibility #Restaurant #Bar #Cafe

In New York City, the scarcity of 2nd generation restaurant spaces has led to a resurgence in key money deals, presenting a unique opportunity for both restaurateurs and brokers. With fewer turn-key spaces available, key money deals offer a fast track to securing prime locations with existing infrastructure, which is becoming increasingly valuable in a competitive market. For restaurateurs, this means quicker openings and lower build-out costs, allowing them to capitalize on high-demand areas without the long wait times associated with new builds. For brokers, this trend highlights the importance of identifying and negotiating key money deals to meet the growing demand for ready-to-go restaurant spaces. In a market where time is money, key money assignments provide a strategic advantage in securing desirable locations and expediting the path to profitability. Leverage this knowledge to make informed decisions and set your restaurant up for success from the start! #RestaurantLeasing #CommercialLeasing #KeyMoney #NYCRestaurants #BrokerTips #LeaseNegotiation #TenantRepresentation #FoodAndBeverage #CommercialRealEstate #LeasingStrategy

Nice to see long term client D&D back in the press for all the right reasons. Having right sized and recalitlaised the estate, there is no reason why they can’t move forward again and gain momentum. It’s important to emphasise what David Loewi says and undeline it and put it in capitals, growing restaurants is all about location and property deals. I have seen many groups lose momentum and come unstuck on the back of poor property choices. Treat each site as if it’s your first. If you are not agonising over every site choice, that should be an alarm bell. Looking forward to watching D&D (or D as David jokingly referred to it after losing the irreplaceable Des Gunewardena) developing some beautiful restaurants.

Spending more to acquire a Restaurant location does not mean you will have more customers Who even told you food business works that way? I have encountered lots of food business leaders loaning to acquire property in a "High Traffic Location" And in less than one year, the business packed up You may have made this location mistake already Spending tons of naira to keep the location that brings zero revenue Listen, High Traffic Locations only mean you have a high chance of making more sales It doesn't mean the sales would come without building the right CONCEPT and the necessary WORK People would rather drive to another Restauranteur in a less busy location than walk into your space Good location is important But what you do in that location is core When the right location meets the right Concept, the right team, the right service and the right marketing, A restaurant needs no permission to succeed! Quote me!

🏡🍽️ Real Estate & Restaurants: A Match Made in Hospitality Heaven! 📌 Key Similarities: • Location, Location, Location! 🌍 • A bad location can be the kiss of death for both. • The right spot can transform a struggling area into a booming success. • Right Concept, Right Place 🔑 • Pairing the perfect restaurant concept with the ideal geographic location can create a recipe for success. • The synergy between the right real estate and restaurant can catalyze incredible outcomes. • Partnerships Matter 🤝 • Involvement of the right parties is crucial for success in both fields. 💡 Extra Tips: • For restaurateurs: Scout locations with high foot traffic and visibility. • For real estate investors: Seek out unique dining concepts that can elevate the appeal of your properties. 📣 Call to Action: Ready to turn your real estate or restaurant venture into a success story? Let’s connect and explore the perfect location and concept together! 🏠🍴✨ #RealEstate #RestaurantLife #HospitalityMagic

Restaurants are a tight margin business; this makes it critical to get off to a good start without unnecessary debt and expenses but with the right location and concept. And the starting line is real estate. Our latest article shares When to Fall in Love with a Restaurant Location and outlines what you need to know before signing the lease: https://lnkd.in/g7iezbQF

7 Reasons Your Restaurant Needs a Brand Package Are you thinking about opening more locations or expanding? I’ve opened restaurants across the country, and one of the most important steps in expanding is defining your brand and creating a clear brand package. Your brand package should explain your theme, menu, vibe, and what makes your brand unique. This is crucial because you’ll be working with different consultants and vendors who may not know your brand. You need to get them excited, build their confidence, and clearly explain what you need. Your opening team should also communicate the brand in the same way. A strong brand package will help you: 1) Find the right cities and neighborhoods for your brand. Location is key. 2) Decide on the type of space you need, including size and other technical physical requirements. 3) Secure financing. 4) Convince landlords that your brand will be successful and add value to their property. 5) Create excitement before opening. Your local marketing team needs to understand your brand to promote it effectively. 6) Attract the right employees. People want to work for a brand that’s exciting and has long-term potential. 7) Work with local / international vendors to get suitable price and quality.

🍽️ Unlocking the Secret to Securing Your Dream Restaurant Location! 🔑 Embarking on the journey of opening a restaurant is a dream for many, yet it presents a unique set of challenges that go beyond mere passion for food. A significant hurdle often encountered is securing a lease for the perfect location. Despite having the necessary funds upfront, aspiring restaurateurs face the daunting task of convincing landlords of their business's viability and security. 🚀 Understanding Landlord Expectations: Discover what landlords are really looking for in a tenant and how to present your restaurant concept as a secure and profitable venture. 💼 Crafting a Convincing Proposal: Learn how to create a compelling business proposal that highlights your restaurant's potential and your financial readiness. 📈 Leveraging Financial Proofs: Find out the importance of showing financial proofs, like bank statements or investment commitments, to secure your landlord's confidence. 🤝 Negotiating Lease Terms: Gain insights into effective negotiation strategies that can lead to favorable lease terms, even without traditional security deposits. 🌟 Building a Strong Relationship: Understand the importance of building a positive, ongoing relationship with your landlord for future opportunities and support. Through the guidance of an experienced restaurant consultant, this clip explores the intricate process of obtaining a restaurant lease, emphasizing the need for preparation, persuasive communication, and strategic negotiation. It reveals that success lies not just in having the funds but in demonstrating the viability and security of your restaurant concept to potential landlords. Now is the time to take these insights and apply them to your own journey in opening a restaurant. Let these strategies be your guide to overcoming one of the industry's biggest hurdles and moving one step closer to realizing your culinary dream. 🔗 Tap the link in bio for more insights. Watch our podcast on Spotify (link in bio): https://loom.ly/aUSHmkM @justcardiff @dontbuyrealestate @asterntalk @lev.gpt @mikeygsd #business #instabusiness #financialreadiness

🏢 Understanding the unique characteristics of various building types is essential when selecting the perfect space for your restaurant! 🍽️ From standalone buildings to strip malls and residential complexes, each presents its own set of challenges and opportunities. By delving deep into the intricacies of these spaces, you'll be equipped to make informed decisions that set your restaurant up for success. Let's dive into the world of restaurant spaces and unlock the potential of your culinary dreams! 💡🏙️ #RestaurantSpaces #BuildingTypes #CulinaryEntrepreneurship 🌟