Successful Coffee Shop Expansion

Coffee Shop

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 that work with the menu and pricing, the rent and other monthly property expenses 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.
    • Direct contact with property owners
  3. Visit potential sites.
  4. Decide on site. Negotiate a letter of intent for rent, term of lease, guarantees, tenant improvement money, landlord’s work, contingencies.
  5. In conjunction with attorneys, write and review lease.
  6. Self financing
  7. Sign lease and begin build-out.
  8. Opens another café at a corner location in the Comcast Center area.