Multi-Unit Real Estate & Site Selection Advice - Use a Broker or Not?
Company Added
Company Removed
Apply to Request List

Multi-Unit Real Estate & Site Selection Advice - Use a Broker or Not?

Multi-Unit Real Estate & Site Selection Advice - Use a Broker or Not?

Earlier this year, contributing writer Sara Wykes interviewed several multi-unit franchise operators about how they handle site selection and real estate challenges in today's market. She spoke with a number of operators who talked about finding that perfect franchise location, one that augments the odds of success and reduces the risk of failure.

Here are some insights culled from her interviews:

Broker or No Broker?

Jake Alleman, multi-unit operator of Broken Egg Café and Chicken Salad Chick restaurants, believes brokers are important when considering new properties--especially if there's an effective collaboration between types of brokers.

"Local brokers can bring value by having local knowledge and connections in their community," Alleman says. "A lot of times they know of a site that may be available prior to being listed on the market. It also helps with negotiating the Letter of Intent because they know a lot of the landlords in the area and may have had negotiations with them in the past. They know the market, and what the location is worth."

Alleman also likes having someone else's expertise working for him. Brokers, he says, "help tremendously with time. It is very time consuming with so many emails and phone calls going back and forth. Having a broker allows me to continue focusing on running my business." And he likes having the negotiating savvy an experienced real estate attorney can offer--one that has negotiated restaurant/retail leases successfully is critical, he says.

Published: July 9th, 2019

Share this Feature

Smoothie Factory
SPONSORED CONTENT
Smoothie Factory
SPONSORED CONTENT
Smoothie Factory
SPONSORED CONTENT

Recommended Reading:

Comments:

comments powered by Disqus
Firehouse Subs
SPONSORED CONTENT

FRANCHISE TOPICS

Kona Ice
SPONSORED CONTENT
Conferences
Hotel Savoyen, Vienna, Austria
JAN 28-29TH, 2020

We're looking for franchisees and qualified investors with a passion for food who want to invest in a brand that will lead the fast casual barbeque...
Cash Required:
$500,000
Request Info
If you are looking for a solid business opportunity designed for growth, consider the advantages of the Newk's Eatery franchise opportunity.
Request Info

Subscribe to Multi-Unit Franchisee Report

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2019.
All Rights Reserved.