Find the "Perfect" Location--Get help from a Realtor

You need to find the "perfect" Location

There are a number of questions you must have answers to before you finalize your location.

Start by working with a reputable COMMERCIAL real estate agent. Be certain that the agent does not just sell houses.

Most of the questions in this blog were answered by:

Bob Sypolt

Northwood Realty 201Associates

1179 Rostraver Road

Belle Vernon PA 15012

www.northwood.com

For purposes of this blog, we are assuming that the salon owner is going to lease space as opposed to buying a building.

Where can you secure basic information about the community that you plan to open in:

Population

Demographics

Income Levels

Schools

Visit the websites of the towns or city

Visit the website of the local Chamber of Commerce or other business associations

Visit the website of the mall or strip mall that interests you

As much as technology enables us to get information online, I would still suggest that you get out of your car and walk. Walk up and down the streets of the town. Walk the strip mall(s) and the actual mall that interests you. Stop in the stores and introduce yourself. Visit the local city building, police station and mall manager's office.

Review the parking situation.

Is enough parking available for your customers?

Is the parking area properly paved?

Is the parking area properly lit at night? Is it safe? Do the local police protrol?

What is the cost of parking to you or your customers?

If there is a charge to your customers, is it in line with what your competitor's clients have to pay?

Your Lease:

Determine your monthly rent:

Is there an up charge for:

Property taxes?

Property insurance?

Maintenance?

Common fees?

If so, can these charges be changed without notice or negotiation?

Length of lease:

1 year--too short unless the salon owner will have to do nothing to improve building.

3 years--very good especially if it is renewable. Short but allows the average business time to succeed.

5 years--even better than 3

10 years--very long--probably only to considered with a very experienced salon owner. This probably will not happen.

What does the lease include? Most of these items are negotiable.

Flooring? Most salons do not want or cannot have carpeting in their work areas.

Wall coverings? Painting or Wall Paper

New Electric? Must consider the electric requirements of each work station. This is very important if salon has tanning beds.

Plumbing? Location of any existing plumbing should be considered when laying out the salon. If possible, shampoo areas and other sinks should be located so as not to move plumbing.

Water and sewage? Quite often these utilities are included in the rent. Salons do use more water than an average business.

It is important that the above items be settled in writing in the lease prior to signing. Take nothing for granted!

Restrooms?

If it is a free standing building, it must include a restroom.

If it is part of a multi use building, are public restrooms available for your clients?

Determine if the landlord will allow for leasehold improvements?

Again, in writing in the lease.

If in a mall or strip mall, what mall rules normally apply?

Opening time

Closing time

Holiday hours

Use of space outside storefront

Music and/or noise

# of people

Signage

Take the time and spend the money to have your lawyer review the lease.

It will be cheap and quick when a problem occurs and you are prepared.