Franchise Business Real Talk
Franchise Business Real Talk shares conversations, ideas, and suggestions to help new, early-stage, or struggling franchisees increase their profitability as quickly as possible. If you aren't at 20% or more profitability yet, you can be, and you will be. This show will help. Always feel free to reach out to Guy Coffey at guy@frenchiesnails.com
Franchise Business Real Talk
How Effective Lease Renewals Can Transform Your Franchise Business ft. Dale Willerton
Dale Willerton is the Founder and Lease Consultant of The Lease Coach, North America's #1 Authority on commercial lease negotiating for tenants and has been working exclusively for commercial tenants since 1993. He is also the author of the book ‘Negotiating Commercial Leases & Renewals for Dummies’.
In this episode of Franchise Biz Real Talk, Guy Coffee sits down with Dale Willerton, the lease coach and author of "Commercial Lease Negotiations for Dummies." Dale shares his expertise and insights into the world of lease negotiations, specifically focusing on lease renewals.
Dale begins by discussing the challenges of negotiating lease agreements, drawing from his experience working with Anytime Fitness clubs. He highlights the importance of understanding the timeline for opening a new store, especially in a post-pandemic world where delays are common. Dale Willerton also emphasizes the need for a floating commencement date to mitigate issues caused by contractors, permitting problems, and equipment unavailability.
They also delved into the benefits of lease renewals and how they can significantly impact a business's bottom line performance. Dale Willerton emphasizes the significance of negotiating lease renewals as if dealing with a new tenant, seeking benefits such as free rent and tenant allowance. He shares real-life examples of businesses that successfully negotiated improved lease terms, including a case where a proactive approach led to a lower base rental rate and tenant improvement money being offered by the landlord without being asked.
Throughout the episode, Guy Coffey and Dale Willerton exchange valuable insights on the lease negotiation process, debunk common misconceptions, and highlight the importance of working with professionals like Dale to secure favorable lease agreements. Join us to gain a deeper understanding of the intricacies of commercial lease negotiations, learn valuable tips and strategies to navigate lease renewals, and be inspired to take a proactive approach in securing better lease agreements for their businesses.
Takeaways
- Approach Lease Renewals with a Fresh Perspective.
- Understand the Power of Timing.
- Working with Professionals Yields Positive Results.
Quote
“It's better to have a brand new lease than to take over someone's old lease." -Dale Willerton
Connect:
Dale Willerton
LinkedIn: www.linkedin.com/in/dale-willerton-2a1188238
Website: www.theleasecoach.com
Guy Coffee
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.frenchiesnails.com
Instagram: @guycoffey
Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.frenchiesnails.com
Instagram: @guycoffey