How to Identify Locations, Choose a Site, and Negotiate a Lease
If you’ve decided to take the leap and open your own restaurant, you don’t need us to tell
you that you have a lot of work ahead of you! Don’t fret, though. That work is well worth it.
“Everything is negotiable. Whether or not the negotiation is easy is another thing.“
Before you can start thinking of the creative aspects of your restaurant, like the menu,
décor and general ambiance, it’s important to get the nitty gritty out of the way: finding
the perfect place to house this establishment. Read on to find out how to identify the right
location and site, as well as negotiate your lease to get that restaurant started on the right
foot. After all, according to a 2005 study by Ohio State University, approximately 60 percent
of restaurants shutter within their first year, while 80 percent close within the first
five. Make sure the fruit of your labor isn’t part of that 60 percent.