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Advice on leasing an existing coffee shop

  • 02-04-2018 2:07pm
    #1
    mrpgri
    Registered Users, Registered Users 2 Posts: 10 ✭


    Hi, my partner has been asked by a local coffee shop owner if she would be interested in leasing the business. Neither myself not my partner have any experience in this, however she has a passion for baking and has wanted to set up a small coffee shop for some time. Needless to say this offer seems like her dream come true.
    I know we need more advice than just from here, however any help would be appreciated.

    My question are

    What are the norms of leasing a small coffee shop?

    What exactly should the lease entail (premises, contents, name of business)?


Comments

  • #2
    DubTony
    Registered Users, Registered Users 2 Posts: 3,267 ✭✭✭DubTony


    Leasing as a going concern will likely require you to take on, and recognise service of, the current staff.
    You'll be leasing a premises on a full maintenance basis - if something goes wrong, you fix it. This will likely include fixtures, equipment and the structure. You'll have to insure the building, or pay the landlord to insure it (most likely) as well as your regular insurance for public liability etc.
    The lease will have a time frame. You'll be responsible for paying the rent for the full length of this time, even if you go out of business.
    There's quite a bit more. A solicitor will need to be employed to examine the proposed lease. This is standard stuff for most of them and the best place for good and complete advice.

    Elephant in the room question - why is he looking to lease the business premises?


  • #3
    Bandara
    Registered Users, Registered Users 2 Posts: 3,282 ✭✭✭Bandara


    mrpgri wrote: »
    Hi, my partner has been asked by a local coffee shop owner if she would be interested in leasing the business. Neither myself not my partner have any experience in this, however she has a passion for baking and has wanted to set up a small coffee shop for some time. Needless to say this offer seems like her dream come true.
    I know we need more advice than just from here, however any help would be appreciated.

    My question are

    What are the norms of leasing a small coffee shop?

    What exactly should the lease entail (premises, contents, name of business)?
    simply speaking don't do it

    You 99% being offered a pup and you have no experience. its a horribly tough business.

    And the baking comment, whereas it is a lovely sentiment, is very far removed from the reality of running a cafe. You will be buying all your cakes in, it makes far more sense and is more cost efficient and make life so much easier.


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