Steps leading to opening day.......

[ThePoetSuede]

You've researched the equipment brands, you have a location in mind and now you want to proceed. We know we have to look ahead in terms of lease signing, finance, demographics & equipment purchase.

Can someone provide a clear cut step by step plan indicating what to do 1st, 2nd & 3rd for opening a mat. Let's keep it simple: let's assume we are renting 2000sq ft space, let's not worry about the odds and ends, again let's keep it simple. For instance, should the lease be signed 1st or should you close the deal on financing 1st? Should you contact the landlord directly and get a lease drawn up to show your lawyer? or should your distributor get involved at this point? I am assuming you should get an insurance quote when you're writing your business plan but when should you actually sign it? A Week before opening? Before you get financing?

This all may sound like common sense but sometimes a little direction goes a long way and their may be many readers here who can use the insight from you veterans, myself included.

[SecretarytoBraveDave]

First you should know your market and know it well, find the location and do some demo studys according to your ideas for equipment mix. Find financing or get your money together, hire an attorney negotiate a lease, negotiate with distributors and find one that will assist you the rest of the process for the deal to come together efficiently and successfully.

[ThePoetSuede]

As always its a pleasure Mr. Secretary........

You mentioned "hire an attorney negotiate a lease, negotiate with distributors", when I negotiate the lease with my lawyer and the landlord should I sign anything OR should I involve the distributor?

I am assuming the distributor will have more insight into the installing of the equipment and therefore would want to look at the lease.

[SecretarytoBraveDave]

The distributor should have no need in reviewing your lease, as far as I know. You do want a long lease with as small increases as you can negotiate, you can ask the distrib for his insight, but other than that?

You will want to negotiate your equip prices with the distribs, don't settle on one brand at least don't let any distrib think so. Bid out your equip and let them know you are considering several different brands, be ready to here every possible negative of the opposites brands from each distributor.

If you are capable of doing your due diligence and you are accurate with your assessment of the market and location of your choice, then no I would not seek the help of a distrib with the exact location until after I negoitiated a lease.
Kitty

[ThePoetSuede]

Sounds like good advice........

It seems like the proper steps are:
- Find location / Do Demographics
- If Demographics look good find space /
Check out lease (Do not sign)
- Get estimate from Distributor (based on your
perception of the market as per your demographics)
- Confirm acceptance of Financing
- Confirm lease w/lawyer & sign
- Update distributor & invite them to review the space for
design/layout purposes
- Approve equipment cost
- Schedule construction & opening day !

I think that sound good. Also you mentioned "no I would not seek the help of a distrib with the exact location until after I negotiated a lease". So again I am confirming, I should show the lease to my lawyer and upon his approval I should "sign" the lease and only THEN get the distributor involved?

[SecretarytoBraveDave]

Fly when your ready...............you can sign anytime AFTER your attorney looks it up down sideways and diagonally!

[ThePoetSuede]

When should you get insurance?
After you sign the lease?

[ThePoetSuede]

Again,
When should you get insurance?
After you sign the lease?

[petefritz]

if you have never done a mat before you probably should get a distrib involved before you sign a lease.

[hotwash]

i am doing same.
20 yrs plus 2- 5
free rent till open then 1/2 for 6 mnths
everything pending zoning approval
try get 2" water, 6" sewer, 600 amp 3ph, 3 or 4 nat gas.
handi bathroom
air should be 2- ten ton units for 2000
auto doors- they never do it bt try
look at stores your dist has build already and ask about there construction, who will do , how long to build
insurance should be in place before lease and do an s- corp or LLC
GOOD LUCK and involve your dist in everthing they should be helpfull just from past experiences.
sorry about typing im not that good at english writing