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Leasing and Locating Your Business | Intro

The old saw (adage) says retail businesses succeed or fail for three reasons: "location, location, location."

If you are starting a retail business, look for an area with heavy foot traffic, adequate and inexpensive parking (preferably a free lot) and a number of thriving nearby businesses. If every other storefront on the block is shuttered, perhaps there is a problem with the location itself.

Once you find a place you like, find out its history. How many businesses have come and gone in that location over the past ten years? If there is a high turnover, i.e. 5 different businesses in the past 10 years, perhaps there is a location problem.

Know Thy Lease:

Understand thoroughly the terms of your lease. If you are leasing a store in a shopping complex, will you have to pay rent plus garbage and utilities? Find out the hidden costs and fine print.

Terms of the lease: beginning businesses may do best with a "month-to-month" lease rather than a six-month or year lease. If your business fails halfway into a year lease you may be liable for the remaining six months rent. Examine the terms carefully.

To Lease or Not to Lease: Things to Know

Lease Definitions


Start My Own Business?

Choose a Legal Structure for My Business?

Write a Business Plan?

Finance My Business?

Lease and Locate my Business?

Purchase Business Insurance?

Arrange my Suppliers?

Obtain My Employer ID Number?

Obtain a Business Licence and the Proper Permits?

Learn About Business Taxes?

Keep Business Records?

Advertise and Promote my Business?

Hire Personnel and Contractors?

Learn About Labor Laws?