Julie Zulanas’ Post

Buying a restaurant versus leasing and building from scratch cuts down your time to launch by a factor of many months. In the restaurant industry, where time is a critical factor that can make or break a business, it’s essential to consider this option. While leasing a brand-new restaurant space that has never been occupied may seem appealing, the reality of hiring a contractor, getting plan approvals, waiting for permitting and more will often involve both lengthy delays and unexpected costs. Check out our article to learn more about Why Buying Existing Restaurants Beats Building from Scratch. Read Now: https://hubs.la/Q02JQcsX0 #WeSellRestaurants #RestaurantTips #BusinessOpportunity

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

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.

Imagine signing a lease for your dream restaurant, only to find the terms heavily favor the landlord, leading to unexpected costs or restrictions. For instance, you might be unable to add certain items to your menu due to lease limitations. This is a common issue because landlord representatives prioritize their client's interests, leaving tenants exposed. To avoid this, we recommend hiring a Certified Restaurant Broker for independent representation. Click the link below for more details on Leasing a Restaurant: Why Someone Must Represent Your Best Interests https://hubs.la/Q02KG0gt0 #wesellrestaurants #Certifiedrestaurantsbroker #RestaurantLeasing #LeasingTips #RestaurantBroker #CertifiedRestaurantBroker #LeaseNegotiation #RestaurantSpace #LeaseSmart #TenantRepresentation #ProtectYourInterests #IndependentBroker #RestaurantLife #SmallBusinessAdvice #RestaurantOwners #BusinessLeasing #LeaseTerms #RestaurantBusiness #LeasingAdvice #RestaurantIndustry #RestaurantSuccess

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!

There is still an issue with restaurants. There is an old saying in CRE "once restaurant space, always restaurant space". I wonder how the author of this article explains the vacant, de-branded restaurants on the market at terribly high costs. Some poor soul went and purchased a NNN or worse yet an ANNN leased asset, often from out of town. Then the tenant terminates their lease or does not renew. Now that property that they paid well over $350 PSF [the highest I've seen was $2.2K PSF] is barely worth $200 PSF. When the comparable sales for former de-branded restaurant buildings point to a $125 to $175 PSF sale price, it is very hard to justify some of the excessive prices out there. I would say the unexpected restaurants are actually the small specialty stores, i.e. pretzels, cookies, just BBQ, etc.

It's fascinating to see the restaurant industry booming like never before, I was nervous for my fellow culinarians for a while there. The rise of "foodie culture" and shifting demographics are clearly driving this trend. As someone deeply embedded in the industry, an avid traveler, and a connoisseur of unique dining experiences, I allocate a good portion (maybe too much) of my food budget to exploring new restaurants and culinary adventures; as well as providing these experiences. On occasion, I will take hit financially for the good of the industry! It's not just about the food; it's about the experience and the community. It's only logical for residents to seek out quality dining options near their homes, especially in city environments filled with busy professionals. Interestingly, I noticed during my years visiting our vacation home in the Blue Ridge Mountains, I've noticed this trend extending to rural communities as well. Small, abandoned towns are getting makeovers, with big city chefs returning to their roots, seeking a more relaxed lifestyle. These revitalized areas are now culinary hotspots, blending the charm of rural living with top-notch dining experiences. Moreover, this resurgence is not limited to public dining establishments. Private dining is seeing a notable comeback, as highlighted in a recent article on Boston.com. Many of us who have traveled and experienced dining in alleyways of Barcelona or the yards of neighbors in Naples understand that it's more than just about the food. We are craving connections and positive environments that support each other. This growing trend underscores our desire for meaningful interactions and community through shared meals. Seen through the addition of community kitchens and private dining spaces being a added amenity to any new development whether residential or commercial. Should I plug my business now?? Why not, you've read this far. I special is delivering such an experience.. www.foodsaucy.com

Property owners have long seen restaurants as risky tenants with a high rate of failure. Now, the restaurant business is emerging as the hottest corner of retail real estate, Kate King reports. Food services accounted for more than 19% of all retail leases last year, rising in recent years to the highest proportion for any category since data firm CoStar Group began tracking the statistic in 2007. The uptick reflects how Americans are spending more time and money at restaurants, from fine-dining hot spots to fast-casual chains. Total restaurant sales have never been higher. They are on track to top $1.1 trillion this year, a 5.4% increase from 2023’s record-high level, according to the National Restaurant Association, an industry group. Low unemployment, rising wages, the ascent of “foodie culture” and millennials’ tendency to marry and have children later than previous generations have likely contributed to increased restaurant spending in recent years, analysts say. Single households are less likely to grocery shop than families. It is a far cry from the depths of the pandemic, when tens of thousands of restaurants permanently closed. Four years later, robust restaurant leasing has helped power the retail-real-estate sector to its strongest position in years. How does restaurant spending fit into your budget for food? 🔗 Read more: https://lnkd.in/eHeX5X2H 

Restaurant Leases – Tips for Tenants You’ve found an ideal property in which to set up your restaurant and you can almost smell the aroma of your business’ success. You can’t wait to get started. The last thing you probably feel like doing is wading through the legal issues. Unfortunately, this is a necessary evil. Get your lease terms right and you will reap the benefits. Like most people who open a new restaurant, you’ve probably decided that you will be renting the property (at least to start with) as you probably don’t want to waste valuable cash on buying the freehold. So, the first thing you’ll probably need to do is negotiate the main lease terms. Landlords and agents call these terms the ‘Heads of Terms’. They’re not binding, but they do set out the structure of the deal, so it’s well worth spending the time getting the heads of terms right. > https://lnkd.in/e2JmeUUx #LandlordTenant #Restaurants #CommercialConveyancing #Solicitor #Lawyer #Liverpool #Chester #Wrexham

One of the big insolvency stories of the last week was the news that Hostmore plc, the owner of restaurant chain TGI Fridays, was placed into administration. The restaurant chain operates across 87 outlets in the Uk employing around 4,500 staff. Administration is primarily a rescue procedure and the restaurants will continue to trade as a buyer is sought for the business and assets. As it stands they have been no closure but the sites are at risk. The administration appointment came following a failed attempt to merge with the its US parent company, a move which would have aimed to create a viable business in the long term. However, this is more the straw that broke the camels back as struggles in the casual dining sector, which have resulted in a number of administrations and restructuring in the past five years, remain and the TGI Fridays brand itself is not the force it once was. The surge in US-styled restaurants in the UK over-saturated the market and as TGI fell behind it fell into one of the biggest issues facing the casual dining sector, the desire to improve margins means costs are cut, often resulting in lower quality ingredients, and prices rise, with consumers concluding that the restaurant is not the value for money it once was especially in a cost of living squeeze. Even with all the steps management had taken, sales fell 12% year on year. Whilst the administration brings the possibility of someone acquiring and rescuing the brand the real challenge will be returning it to relevance in the casual dining sector and as we have seen with other US-inspired chain restaurants like Byron Burger, this is not an easy task. #insolvency #businessrecovery #restructuring #turnaround #business #restaurant #casualdining #accountant #london