"I don't believe in failure. It is not failure if you enjoyed the process." Oprah Winfrey, business mogul and actress
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"Success is a journey not a destination. The doing is usually more important than the outcome." Arthur Ashe, professional tennis player and Presidential Medal of Freedom recipient
"Some people want it to happen, some wish it would happen, others make it happen." Michael Jordan, former professional basketball player and business mogul
"All great achievements require time." Maya Angelou, author and civil rights activist
"I just try to be the best I can be and hope that is the best ever." Tiger Woods, American golf professional
Five years ago when you started your online business selling t-shirts and sweatshirts, you never thought you would consider moving into a traditional brick-and-mortar space. A few influential Instagram endorsements and Twitter RTs later, and your online business has more business than you and your team can handle. Whether it is actually time to expand to a physical location is a discussion for a different post BUT if the time is right, there are some things you need to know about entering into a commercial lease. Tip 1: (Almost) Everything is negotiable Commercial leases are usually long, wordy documents full of complex provisions that are oftentimes hard to understand and almost always favor the interests of the landlord. You do not have to accept many of these provisions as they are initially presented to you. You can, and should, look at everything as being negotiable: term of the lease; base rent and additional rent; rent increases/escalators; personal guaranties; exclusive use; maintenance and repairs; co-tenancy clause; who bears responsibility for compliance with changes in state law. Everything. Language that appears to be boilerplate can have significant and unexpected impacts on your business’ bottom line. If you are negotiating a commercial lease for the first time, you most certainly want to retain the services of someone familiar with commercial leases to break down the meanings of various provisions and how they can and might impact your business. "Every person who has grown to any degree of usefulness, every person who has grown to distinction, almost without exception has been a person who has risen by overcoming obstacles, by removing difficulties, by resolving that when he met discouragement he would not give up." Booker T. Washington, educator, author & political strategist
"Since new developments are the products of a creative mind, we must therefore stimulate and encourage that type of mind in every way possible." George Washington Carver, American inventor
"You face the biggest challenge of all: to have the courage to seek your big dream regardless of what anyone says. You are the only person alive who can see your big picture and even you can't see it all." Oprah Winfrey, business mogul
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DISCLAIMER: This blog is for informational purposes only and none of the information contained herein creates an attorney-client relationship. This blog is intended to serve as a resource and should not replace the hiring of an attorney.
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