You're a new franchise owner. What real estate services do you need to succeed?

Real estate services are critical to understand some key points. - Rental bandwidth - property dynamics - past tenant history - competition - tenure - lock-in period, rent free period - rental waiver in case of unforeseen circumstances - landlords ability to understand the business you are prospecting for - Infrastructure - Safety - Compliance to municipal requirements (OC, CC, etc) - traffic density - parking facilities

Regardless of whether you are new franchisee or just a new business owner it is important set yourself up for success by having a great team behind you. That means you need a great real estate attorney, a great CPA and a great agent who knows the market. Individuals that can help with construction/maintenance is important to. The first item that will come into play is the actual site selection and the understanding of cars driving by or pedestrians walking. You then need to take a look at the lease AND make sure it coincides with your franchise agreement. Insurance is key as well. Again, if you align yourself with people that can act as your team, the aspect of real estate for your business becomes much easier!

Selecting the perfect location is crucial for franchise success, involving a detailed assessment of market demand, competition, visibility, accessibility, and demographics, alongside compliance with franchisor standards. Utilizing a specialized franchise real estate service is key. These professionals offer expertise in evaluating potential sites, ensuring alignment with both market opportunities and franchisor requirements. Their support streamlines the site selection process, helping to secure a location that optimizes growth and meets strategic goals within the intricate landscape of franchising.

This service involves identifying and selecting the best location for your franchise. Factors such as demographics, foot traffic, visibility, competition, and zoning regulations must be considered. Real estate professionals specializing in site selection can conduct market research, analyze data, and recommend suitable locations based on your franchise's target market and business goals. For example, if you're opening a fast-food franchise, a site selection expert might identify a busy intersection with high visibility and proximity to residential areas.

Once you've identified a potential location, negotiating the lease terms is essential. Lease negotiation involves discussing rental rates, lease duration, renewal options, maintenance responsibilities, and any additional fees or clauses with the property owner or landlord. Real estate agents or attorneys experienced in lease negotiation can help you secure favorable terms and ensure that the lease agreement protects your interests. For instance, a lease negotiation expert might negotiate a lower rental rate or request favorable lease renewal conditions for your franchise location.

Do not try to negotiate your own lease without involving a commercial leasing expert. Too many new franchisees make the mistake of thinking they can handle the lease negotiation process on their own. Mistakes made during the lease negotiation process can become very costly over the term of a lease especially in the CAM area. A good lease negotiator can also usually get a new franchisee much better terms on free rent or tenant improvement allowances. Don't leave money on the table with a new lease.

If you're building or renovating a space for your franchise, construction management services are vital. This includes overseeing the construction process, managing contractors, ensuring compliance with building codes and regulations, and adhering to budget and timeline constraints. Construction managers can handle everything from obtaining permits to coordinating subcontractors and resolving issues that may arise during construction. For example, a construction management team might oversee the renovation of a commercial space to customize it according to the franchise's branding and operational requirements.

Once your franchise location is operational, ongoing compliance with regulations and maintenance of the property are essential. This includes ensuring compliance with local zoning laws, building codes, health and safety regulations, and franchise brand standards. Additionally, regular maintenance of the property, including repairs, inspections, and upkeep of facilities and equipment, is necessary to provide a safe and pleasant environment for customers and employees.For example, a compliance and maintenance service provider might conduct regular inspections to identify and address any issues promptly, such as repairing plumbing or electrical systems or maintaining landscaping and parking areas.