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Gym Business - Business for Unicorns Podcast
Episode 349: Expert Advice for Leasing or Buying a Space for Your Gym with Stu Brauer
Jul 1, 2024
Expert Stu Brauer shares insights on leasing vs. buying gym spaces. Topics include challenges in commercial leases, financing acquisitions, and contrasting perspectives on business management vs. real estate investments.
34:40
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Quick takeaways
- When leasing a gym space, ensure rent does not exceed 25% of monthly gross revenue; consider operational efficiency and revenue per square foot.
- Negotiate tenant improvement allowances cautiously, secure free rent during construction, limit personal guarantees, and conduct detailed market and demographic assessments for strategic leasing decisions.
Deep dives
Considerations for Leasing Commercial Real Estate Spaces
When contemplating leasing commercial real estate spaces, it's crucial to ensure you're financially well-capitalized to afford the rent without exceeding 25% of your monthly gross revenue. Understanding the operational capacity and efficiency of square footage, as well as analyzing revenue per square foot, can guide you in making informed decisions. It's essential to avoid simply choosing locations based on superficial factors and instead focus on detailed market and demographic assessments to make strategic leasing choices.
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