As mobile banking and automated teller machine use increase, diminished foot traffic in bank locations led to shuttered branches. Nine out of ten households now utilize online banking and four out of ten use mobile banking, eliminating the need to visit a branch for normal transactions.
Congratulations! You successfully surveyed the marketplace, jumped through several financial and logistical hoops, and have finally been accepted as a franchisee of a major corporation. Now all that is left is finalizing your commercial lease, hiring your team and getting on with business.
As an entrepreneur, you understand how important it is for you to find the right building for your business. Besides location, you need a property that is in good condition. As you shop for commercial properties in the San Juan Capistrano area, you should take into consideration the leasing requirements each property has. All commercial leases are not the same. If you are not careful, you could end up with a lease that puts you at a big disadvantage.
As a California business owner who rents your premises, you may want to get out of your lease early for a variety of reasons. Perhaps this location no longer works for you or you wish to pursue opportunities elsewhere.
Negotiating a franchise lease can be much trickier than just a simple commercial lease because there is a third party in the mix. Your lease is not only a contract between you and the landlord, but it is contingent on your franchise arrangement with the franchisor. A commercial lease can be hundreds of pages long, and there is a lot to work out before you ever get to signing a lease as a franchisee.
According to Urbanland, the magazine of the Urban Land Institute, commercial shopping centers might struggle in the next year as more stores move toward online shopping instead of a physical presence. That said, commercial real estate is always a good investment, especially as the urbanization trend will most likely continue.
Dealing with a lease dispute can take time and energy away from running your business while you sort out the conflict. The main reason for disputes is a misunderstanding of your lease's terms in the first place. While it is true that your landlord may try to take money from you via the lease's terms, it is also your responsibility to fully understand the terms before signing. Here are some key points of a lease agreement to check: