Jun
13
What are the requirements to obtain a retail lease?
ByI want to open a salon spa and I was wondering what type of requirements will I have to meet in order to obtain a retail lease. I know that the lease will have to be personally guaranteed because it is a new business. I want to know if the requirements are based on credit scores, liquid capital, other income, previous work history, etc. Please serious answers. I would like to know what I have to look forward to.
My state is Illinois
Passive Income
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2 Comments
June 15th, 2010 at 8:42 pm
It all depends on your state so i really coudnt tell you. But good luck and find out for your state.
June 17th, 2010 at 7:19 am
They will want to know about your creditworthiness, and probably see your assets, sources of financing, and business plan. You will need to show that you have or can get the appropriate licenses for your business. You will need to show that you have appropriate insurance. It would be a good idea to have market studies showing why this particular market, why this particular location, needs a salon. It would be smart to be represented by a real estate broker- they will keep you from being taken advantage of by the property owners.