Alloy Personal Training Business Understanding Your Fitness Franchise Lease
Opening a new franchise location is always exciting, but the complexities of commercial leases can be overwhelming.
In this episode, Rick speaks with Alloy VP of Real Estate and Studio Development, Jared Breen, about the main negotiating points of your commercial lease.
Rick and Jared discuss the key financial terms, such as rent abatement and tenant improvement allowances, that can significantly impact the overall cost of opening a franchise.
They also highlight the importance of timing and coordination between securing a lease and obtaining funding, as well as the need for franchisees to be well-prepared financially.
You'll learn about the importance of educating landlords about the franchise's operations to negotiate better lease terms.
Jared shares his experience in reducing the time from franchise signing to opening, benefiting both franchisees and the franchisor.
Listen now to get the inside scoop on how to navigate commercial leases and set your franchise up for success!
Key Takeaways
Intro (00:00)
Lease negotiation strategies (02:16)
The ideal timeframe for lease negotiations (04:38)
Importance of educating landlords about the franchise model (06:41)
Tenant improvement allowances and rent abatement (12:06)
Financial planning and the importance of liquid capital (18:06)
Timing for securing SBA funding in the lease process (22:41)
Coordinating lease signing with funding availability (24:37)
Understanding the broader financial implications of lease terms (27:52)
Additional Resources:
- Learn About The Alloy Franchise Opportunity
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