Re:I just don’t want to be busy anymore
by caminante on Monday September 27, 2021 @08:55AM
(#28670081)
> if you don't own the property the restaurant is in, the land lord will just increase rent until the any profit is barely OK anyways.
Then, contract around it with a capped escalation factor? And doesn't this apply to any <insert business> renting space?
Re:I just don’t want to be busy anymore
by rightbyte on Monday September 27, 2021 @10:36AM
(#28671144)
No, I don't think it applies to all businesses. Like, restaurants are tied to a location and reputation. An office not so much. Bigger corporations like McDonalds or Starbucks probably have more bargain power and a better picture of how much a location will pay out, etc.
Are you sure most restaurants aren't renting their premises in any case? Owning a property sounds like a massive investment before you're even able to do any business.
Of course the restaurant business is probably hit-and-miss and risky, and owning the premises might give you more stability, at least if you don't have a large amount of debt. It sounds to me like your stance might be quite cynical in the sense that almost nobody would try starting a restaurant if they considered owning their premises a necessity.
A friend is thinking about to open a restaurant in a very attractive location, but I said, if you don't own the property the restaurant is in, the land lord will just increase rent until the any profit is barely OK anyways. There is no money in that.