Are you looking to start your own butchery, or expand your already existing butchery? If so, it is essential that you are aware of all the legal considerations associated with entering into a commercial lease as a butcher. A commercial lease is vital to the success of any butcher, as it allows you to operate from a premises that will become an intrinsic part of your business. Without the security of a well-written commercial lease, you could well be risking the security of your entire business. A commercial lease is the only thing that keeps your business where it is, which will allow you to accumulate a loyal customer base, that a trip to your store a part of their routine. Without a well-written commercial lease, you may be forced to move location, thereby resulting in the loss of many of your hard-won customers.
How is a commercial lease important for my business?
A commercial lease will provide your butcher business with the security it needs to function and grow. Without an identifiable property that people can make a part of their daily lives, it can be very difficult to both attract and maintain customers. As such, it is important that you are confident that your commercial lease will stand the test of time, and contains clear and concise procedures that should be followed in the event you want to renew or review the lease. Without these procedures being identified in contract form, you open yourself up to the chaos and pandemonium of human interaction. With these procedures in place, professionalism and organisation will ensure that you are never caught off guard, and that you can use the property in the manner that is best for the continuation and growth of your business.
What should I look for in a commercial lease?
Commercial leases come in many shapes and forms, and it is true that no two commercial leases are alike. However, there are some key aspects of a commercial lease that you should know, in order to ensure that your butcher business has the security it needs.
First and foremost, you should be aware of the duration of the lease. Although there is no set time period as to how long a commercial lease should last, in practice most of them are between three and five years in duration. The duration of your lease will depend on what you believe will work best for your business; too long and you may be stuck in a contract that is not working for you, too short and you will not be able to make an informed decision as to whether or not you wish to renew the lease. Ultimately, you must ensure that the duration that you decide on is clearly stated in the lease that you eventually sign. If the duration is not clearly stated in the lease, you risk losing the lease entirely, placing you and your butcher business in limbo.
Most commercial leases have the option to renew. This allows you to renew the rent before the lease expires, thereby preventing the need to negotiate an entirely new lease. As you can imagine, this is one of the most important aspects of any commercial lease, and it is vital that you get it right. You should ensure that the renewal clause in your lease clearly states the time period within which the lease must be renewed, and how long the lease can be renewed for.
If you are looking to start your own butchery business, or expand your already existing butchery business, you should take great time and care in ascertaining the legal considerations associated with a commercial lease. A commercial lease will give you the security of knowing that the customers you attract will always know where you are. This stability will then assist you in making your business grow. However, you must make sure that the duration and the renewal of your commercial lease are clearly stated, along with any other conditions you feel are vital for the success of your business. Ultimately, it is advisable that you seek legal advice before signing a commercial lease. To see how a legal professional can assist your business before entering into a commercial lease, please click here. If you have any further questions regarding commercial leases, feel free to call LegalVision for a fixed-fee quote.