Is it better to buy, rent or renegotiate the lease on your shop space? At some point, every business owner will need to decide.
Fortunately, The Shop tackled this issue in a recent article that guides readers through all the important factors to consider. Here’s an excerpt:
Market conditions can change rapidly, and a well-informed shop owner or manager should continually strive to ensure they’re getting the best deal possible. That means weighing the various options available such as:
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- Does the operation have the funds — or access to the financing — that would be needed to purchase?
- Does leasing make sense — or leasing with an option to purchase that would postpone the available funding question?
- If already leasing property that meets the needs of the business, would renegotiating the existing lease ease the financial burden or provide additional benefits?
Read the full article “Shop Space: Buy, Lease or Renew?” on The Shop. It includes loads of helpful tips and advice every trimmer should consider, whether a rookie or veteran.
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