Are You Signing a Good or Bad Lease?

If you are starting or buying an existing business in which the location is key for walk-in customers, you must have a GOOD lease.  It is not only vital to the future potential of your business but, more importantly, if you ever want to sell your business and your ‘Goodwill’, your lease must be transferable.  Many times I have met with a business owner and reviewed the lease only to have to tell them that their lease may not be transferable. They are shocked that their lawyer did not brief them on the repercussions of signing such a lease.  A lot of lawyers tell their client that all leases favour the landlord so, if they want the location, sign it.

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