Successful Coffee Shop Expansion

Client

A successful coffee shop/bakery client that has been in business for 10+ years and several locations in the University City area, wants to expand to Center City Philadelphia.

Process

  1. It is determined how much space is needed, the demographic desired to reach revenue projections, the rent that the client can afford – including tenant improvement money needed from the landlord
  2. Search for Location:
    • Direct communications contacts with numerous commercial retail brokers in the region
    • Contact friends and associates with knowledge of the area
    • Internet lease sites searches
  3. Visit potential sites.
  4. Decide on site. Negotiate a letter of intent.
  5. In conjunction with attorneys, write, change, edit, and review lease.
  6. Sign lease.
  7. Build-out space.
  8. April 2015 – Opens another bakery/cafĂ© at a corner location in the Comcast Center area.
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