4 ms·
Yup, if you don't then your landlord gets all the value. You get a 10 year lease, build a successful restaurant (if you make it past the dreaded first year) and
by malandrew 5y ago
Yup, if you don't then your landlord gets all the value. You get a 10 year lease, build a successful restaurant (if you make it past the dreaded first year) and then when your lease expires your successful restaurant has helped increase the land value in the area and the margin you worked up to evaporates when you sign a new 10-year lease that is more expensive because the value of the land has gone up (partly due to your success).
- hinkley 5y agoMy old neighborhood was full of people deciding on their third 10 year or early retirement. Had a few old guard businesses close before people noticed the pattern. Not that the residents could do much about the cause... I imagine them thinking, “I’m 56 and this contract basically says I’ll have to work harder than I have in decades just to keep out of bankruptcy.” And just checking their finances and then the want ads for management positions.