Will You Add? - Beginners Guide to Your Commercial Real Estate Lease

Negotiating a commercial real estate lease needn't be a battle. Remember, and you shouldn’t have to remind the landlord of this, that it is in both of your best interests that you are successful. If you lease on bad terms, you go out of business, and they have no tenant. In fact, many landlords now recognize that providing "superior tenant service" begins by making the lease negotiation process as simple and efficient for tenants as possible. As important as it is to arrive at a lease agreement that meets the needs of both tenant and landlord, long delays over minor details serve neither party.

It has become more commonplace that landlords have ‘standard’ alternate clauses prepared to substitute should the situation dictate. This prevents delays in legal counsel having to re-prepare specific language repeatedly.

If you choose to deal with an agent, make sure that they are looking out for YOUR best interest. Just hiring an agent doesn’t commit them to your success. Bear in mind that oftentimes they are going to be paid by the landlord for filling the space. Building a relationship with your agent can be done, just as building a relationship with your banker, your realtor you bought your home with, or your advertising agent – with communication. Ask around, ask other agents, ask the agent questions, leave nothing to question.

Terminology

Some basic terminology, to simplify the explanation process.

Request For Proposal (RFP): To be sent, via your agent, to the landlord to request a copy of their standard lease form agreement. The RFP will address many important issues but should always include a section outlining the tenant's expectations with respect to Common Area Maintenance (CAM) and Tax Escalation.

Standard Lease Form Agreement: The standard lease that every landlord has prepared for any commercial property up for lease. Terms and language may differ from property to property, landlord to landlord, but remain very similar in structure.

Base Rent: The asking price for the space itself, not including any taxes, maintenance, insurance, or any type of financed money that may be used for buildout.

CAM: Common Area Maintenance. Do not assume or mistake CAM for Triple Net, or you may be in for a surprise.

Triple Net: The total between the CAM, taxes, and insurance. Depending on the number of other tenants, you may pay a pro-rata share of this cost, or if you are a free-standing unit, you may have the entire cost.

Gross Rent: The base rent plus the Triple Net. This should be the amount you expect to pay throughout the lease.

Vanilla Box: Very vague terminology that can vary tremendously. Generally defined as primed drywall shell, concrete floor, basic commercial lighting, electrical to breaker box, and basic HVAC. Depending on the landlord’s understanding of a ‘vanilla box’, you may walk into more or less than this. Make sure the ‘vanilla box’ is clearly defined in the lease.

CPI: Consumer Price Index. CPI is a government derived number to measure the value of a dollar relative to previous years. CPI is typically the factor used to figure any increase in lease amounts from year to year or during option periods because the government updates the number on regular intervals and it is easily accessed.

Build Out: Also called TI, or Tenant Improvement. This is the amount of money estimated to go from ‘vanilla box’, to a finished club minus equipment. Build out is a major bargaining tool for you, especially while trying to startup with little cash on hand.

Option Periods: Option periods are the time periods, if any, following the initial lease period. Option periods are very important because of the potential fluctuation of lease amounts that may occur. This reveals the importance of the CPI and asking for a cap on the increase. You must define as stringently as possible the costs operating in the future of your business. If not, you may end up paying whatever the market will bear, and that could either put you out of business, kill your profits or business value, or make is simply impossible to sell.

Before getting into specifics of the lease, remember your objective: Secure the space you want, at the best rate possible, keeping as much money in your pocket as possible, until you decide you want to/are able to, sell at a good price to someone who can continue to make money. When you sell your business you are selling this lease also, so make sure you negotiate with that in mind.

A brief overview of the basics of a lease:

An initial lease period of (x) years, option periods to extend after the initial period. If the landlord is uncomfortable with the option periods, you may extend your initial period to 7 or even 10 years, depending on your assessment of the area. For a longer lease term, if your business plan and financials are strong enough, you may negotiate for a lower lease amount per square foot. Security over a longer duration is more valuable to the landlord than high dollar, short term, shaky tenants.

When negotiating option periods, your objective is to define your future rent as accurately as possible. To do so, the rent should be adjusted relative to the CPI, and a cap of no more than three percent yearly should be in place.

I recommend asking for a number of months free rent and/or half rent for several months, from the date the Certificate of Occupancy is issued. Your business needs time to get healthy and grow, and this no rent/reduced rent period facilitates that.

When negotiating the buildout, the ideal scenario for you would be that the entire amount will be paid by the landlord. Again, if you have the financials and the business plan, the likelihood of this happening goes up. Even if you don’t have strong statements, you can still get some help here. You may get a percentage of the buildout paid for (ideally the larger ticket items – HVAC, electrical, etc.), or the landlord may factor the amount into your lease and you repay it over time, or a combination. Be careful that any concession on the landlord’s behalf isn’t overcompensated for in your dollars per square foot lease amount. If the landlord refuses to pay for any of the buildout, you may have to get them to move on the free/discounted rent duration, or some other facet of the lease.

You should be able to sublet space in your own space to another small, related business. This may be chiropractic, massage, or physical therapy. All considerations should be included, from insurance and liability to the access to the building allowed to these subcontractors.

There should also be a specific clause in the lease pertaining to your right to assign the lease without undue landlord interference. At any point you decide it is time for you to sell, dealing with a generic right to assign clause is a headache you want to avoid. This is a clause that you may want to have your attorney draw up, to make sure it is strong enough to prevent a problem.

The Lease should contain exclusions that the landlord will not accept competing businesses in the same center or specified area. This should include all other fitness centers, and may include tanning centers, weight loss centers, supplement stores/juice bars, massage therapists, etc.

Signage should not be overlooked by the tenant, as you can be sure that the landlord hasn’t. First, make sure of your legal rights in your community as they relate to signage. Research sign codes and get in writing exactly what those rights and codes are from the landlord. It must be absolutely clear to both parties exactly what the expectations are with the signage. Size, colors, attachment, etc., all have to be defined and understood in order to avoid any last minute surprises due to violations.

One final note, but certainly not lacking in importance, is the required guarantee on the lease. Similar to banks, most landlords will want you to sign as a business, as a personal guarantor, and possibly a co-signor will be needed. It is in your best interest personally to not sign as a personal guarantor, if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person’s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.

To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:

• Describe in detail the landlord's responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.

• Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.

• Provide a method for quick, inexpensive and final resolution of any disputes over the lease.

• Don’t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.

• Negotiate for the future of your business.

Other ideas to consider further:

Option to buy property

Sound proofing the location.

Rent averaging – lower rate escalating yearly to higher rate. The Surprise Inside!
Think about all those Cracker Jacks you ate as a kid. What’s your lasting memory? I’m guessing it’s not the taste, but the surprise inside – that tiny package that contained a simple puzzle, brain teaser or temporary tattoo. Today, I still glance over my kids’ shoulders reliving fond memories every time they open one.The goal of promotional marketing for your small business is to put a smile on the face of the recipient, and give them something to remember you by when you call. It goes beyond the traditional postcards and newsletters approach. It’s 3-D, and it provides perceived value, regardless of the cost.Few people will unceremoniously toss out a box without checking first to see what’s inside. Similarly, if the envelope has a lump in it, people are likely to open it and take a look. That hope of hidden treasure makes folks pay attention.Success Handler Action: If you’re thinking about including promotional items in your marketing campaign, here are some things to consider. (If your small business is selling promotional items, use this as a value-add to help your customers define their goals):What do I hope to accomplish and what response am I looking to receive? Where possible, quantify the expected results: “We’ll send this to 150 targeted prospects, follow-up with every one by phone within three weeks, and set sales appointments with 20.”Who am I sent, via your agent, to the landlord to request a copy of their standard lease form agreement. The RFP will address many important issues but should always include a section outlining the tenant's expectations with respect to Common Area Maintenance (CAM) and Tax Escalation.

Standard Lease Form Agreement: The standard lease that every landlord has prepared for any commercial property up for lease. Terms and language may differ from property to property, landlord to landlord, but remain very similar in structure.

Base Rent: The asking price for the space itself, not including any taxes, maintenance, insurance, or any type of financed money that may be used for buildout.

CAM: Common Area Maintenance. Do not assume or mistake CAM for Triple Net, or you may be in for a surprise.

Triple Net: The total between the CAM, taxes, and insurance. Depending on the number of other tenants, you may pay a pro-rata share of this cost, or if you are a free-standing unit, you may have the entire cost.

Gross Rent: The base rent plus the Triple Net. This should be the amount you expect to pay throughout the lease.

Vanilla Box: Very vague terminology that can vary tremendously. Generally defined as primed drywall shell, concrete floor, basic commercial lighting, electrical to breaker box, and basic HVAC. Depending on the landlord’s understanding of a ‘vanilla box’, you may walk into more or less than this. Make sure the ‘vanilla box’ is clearly defined in the lease.

CPI: Consumer Price Index. CPI is a government derived number to measure the value of a dollar relative to previous years. CPI is typically the factor used to figure any increase in lease amounts from year to year or during option periods because the government updates the number on regular intervals and it is easily accessed.

Build Out: Also called TI, or Tenant Improvement. This is the amount of money estimated to go from ‘vanilla box’, to a finished club minus equipment. Build out is a major bargaining tool for you, especially while trying to startup with little cash on hand.

Option Periods: Option periods are the time periods, if any, following the initial lease period. Option periods are very important because of the potential fluctuation of lease amounts that may occur. This reveals the importance of the CPI and asking for a cap on the increase. You must define as stringently as possible the costs operating in the future of your business. If not, you may end up paying whatever the market will bear, and that could either put you out of business, kill your profits or business value, or make is simply impossible to sell.

Before getting into specifics of the lease, remember your objective: Secure the space you want, at the best rate possible, keeping as much money in your pocket as possible, until you decide you want to/are able to, sell at a good price to someone who can continue to make money. When you sell your business you are selling this lease also, so make sure you negotiate with that in mind.

A brief overview of the basics of a lease:

An initial lease period of (x) years, option periods to extend after the initial period. If the landlord is uncomfortable with the option periods, you may extend your initial period to 7 or even 10 years, depending on your assessment of the area. For a longer lease term, if your business plan and financials are strong enough, you may negotiate for a lower lease amount per square foot. Security over a longer duration is more valuable to the landlord than high dollar, short term, shaky tenants.

When negotiating option periods, your objective is to define your future rent as accurately as possible. To do so, the rent should be adjusted relative to the CPI, and a cap of no more than three percent yearly should be in place.

I recommend asking for a number of months free rent and/or half rent for several months, from the date the Certificate of Occupancy is issued. Your business needs time to get healthy and grow, and this no rent/reduced rent period facilitates that.

When negotiating the buildout, the ideal scenario for you would be that the entire amount will be paid by the landlord. Again, if you have the financials and the business plan, the likelihood of this happening goes up. Even if you don’t have strong statements, you can still get some help here. You may get a percentage of the buildout paid for (ideally the larger ticket items – HVAC, electrical, etc.), or the landlord may factor the amount into your lease and you repay it over time, or a combination. Be careful that any concession on the landlord’s behalf isn’t overcompensated for in your dollars per square foot lease amount. If the landlord refuses to pay for any of the buildout, you may have to get them to move on the free/discounted rent duration, or some other facet of the lease.

You should be able to sublet space in your own space to another small, related business. This may be chiropractic, massage, or physical therapy. All considerations should be included, from insurance and liability to the access to the building allowed to these subcontractors.

There should also be a specific clause in the lease pertaining to your right to assign the lease without undue landlord interference. At any point you decide it is time for you to sell, dealing with a generic right to assign clause is a headache you want to avoid. This is a clause that you may want to have your attorney draw up, to make sure it is strong enough to prevent a problem.

The Lease should contain exclusions that the landlord will not accept competing businesses in the same center or specified area. This should include all other fitness centers, and may include tanning centers, weight loss centers, supplement stores/juice bars, massage therapists, etc.

Signage should not be overlooked by the tenant, as you can be sure that the landlord hasn’t. First, make sure of your legal rights in your community as they relate to signage. Research sign codes and get in writing exactly what those rights and codes are from the landlord. It must be absolutely clear to both parties exactly what the expectations are with the signage. Size, colors, attachment, etc., all have to be defined and understood in order to avoid any last minute surprises due to violations.

One final note, but certainly not lacking in importance, is the required guarantee on the lease. Similar to banks, most landlords will want you to sign as a business, as a personal guarantor, and possibly a co-signor will be needed. It is in your best interest personally to not sign as a personal guarantor, if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person’s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.

To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:

• Describe in detail the landlord's responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.

• Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.

• Provide a method for quick, inexpensive and final resolution of any disputes over the lease.

• Don’t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.

• Negotiate for the future of your business.

Other ideas to consider further:

Option to buy property

Sound proofing the location.

Rent averaging – lower rate escalating yearly to higher rate. What Does a Legal Cashier Do? Choosing the Right Law Job
The legal cashier’s job can be ideal for someone who finds the idea of working for a solicitors or law firm appealing but doesn’t have the experience or desire to work directly on legal matters. Normally a legal cashier is responsible in one form or another for the finances of the company. As the financial needs of solicitors and law firms are quite unique, a niche has opened up for those with the skills and expertise to carry out these kinds of jobs.There are a number of different jobs which could be described as a legal cashier:Legal Accountant – The responsibilities of a legal accountant are in many ways similar to a traditional accountant however there are some distinct difference unique to the industry. For example the large transfers of money for house purchases and legal fees are quite different to that of a traditional business. Though the tasks carried out by a legal accountant may differ from other industries many of the skills required to carry out the role are quite transferable.Financial Controller – typically a financial controller has a lot more strategic role than a legal accountant, they might not be as involved in the day to day, invoices, payments and bank reconciliations but are still heavily involved in how a legal firm manages it finances.Accounts Manager – This might be a role for someonee very important because of the potential fluctuation of lease amounts that may occur. This reveals the importance of the CPI and asking for a cap on the increase. You must define as stringently as possible the costs operating in the future of your business. If not, you may end up paying whatever the market will bear, and that could either put you out of business, kill your profits or business value, or make is simply impossible to sell.

Before getting into specifics of the lease, remember your objective: Secure the space you want, at the best rate possible, keeping as much money in your pocket as possible, until you decide you want to/are able to, sell at a good price to someone who can continue to make money. When you sell your business you are selling this lease also, so make sure you negotiate with that in mind.

A brief overview of the basics of a lease:

An initial lease period of (x) years, option periods to extend after the initial period. If the landlord is uncomfortable with the option periods, you may extend your initial period to 7 or even 10 years, depending on your assessment of the area. For a longer lease term, if your business plan and financials are strong enough, you may negotiate for a lower lease amount per square foot. Security over a longer duration is more valuable to the landlord than high dollar, short term, shaky tenants.

When negotiating option periods, your objective is to define your future rent as accurately as possible. To do so, the rent should be adjusted relative to the CPI, and a cap of no more than three percent yearly should be in place.

I recommend asking for a number of months free rent and/or half rent for several months, from the date the Certificate of Occupancy is issued. Your business needs time to get healthy and grow, and this no rent/reduced rent period facilitates that.

When negotiating the buildout, the ideal scenario for you would be that the entire amount will be paid by the landlord. Again, if you have the financials and the business plan, the likelihood of this happening goes up. Even if you don’t have strong statements, you can still get some help here. You may get a percentage of the buildout paid for (ideally the larger ticket items – HVAC, electrical, etc.), or the landlord may factor the amount into your lease and you repay it over time, or a combination. Be careful that any concession on the landlord’s behalf isn’t overcompensated for in your dollars per square foot lease amount. If the landlord refuses to pay for any of the buildout, you may have to get them to move on the free/discounted rent duration, or some other facet of the lease.

You should be able to sublet space in your own space to another small, related business. This may be chiropractic, massage, or physical therapy. All considerations should be included, from insurance and liability to the access to the building allowed to these subcontractors.

There should also be a specific clause in the lease pertaining to your right to assign the lease without undue landlord interference. At any point you decide it is time for you to sell, dealing with a generic right to assign clause is a headache you want to avoid. This is a clause that you may want to have your attorney draw up, to make sure it is strong enough to prevent a problem.

The Lease should contain exclusions that the landlord will not accept competing businesses in the same center or specified area. This should include all other fitness centers, and may include tanning centers, weight loss centers, supplement stores/juice bars, massage therapists, etc.

Signage should not be overlooked by the tenant, as you can be sure that the landlord hasn’t. First, make sure of your legal rights in your community as they relate to signage. Research sign codes and get in writing exactly what those rights and codes are from the landlord. It must be absolutely clear to both parties exactly what the expectations are with the signage. Size, colors, attachment, etc., all have to be defined and understood in order to avoid any last minute surprises due to violations.

One final note, but certainly not lacking in importance, is the required guarantee on the lease. Similar to banks, most landlords will want you to sign as a business, as a personal guarantor, and possibly a co-signor will be needed. It is in your best interest personally to not sign as a personal guarantor, if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person’s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.

To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:

• Describe in detail the landlord's responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.

• Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.

• Provide a method for quick, inexpensive and final resolution of any disputes over the lease.

• Don’t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.

• Negotiate for the future of your business.

Other ideas to consider further:

Option to buy property

Sound proofing the location.

Rent averaging – lower rate escalating yearly to higher rate. Branded Email: Email Branding is the Next Generation of Email
All You Need is Branded Email Or Always Branded Email There to Remind MeFor the past 75 years, almost every form of popular communication has transformed from black and white to color. Newspapers, television, and computers are only a few examples. (Well, some computers went from green and white to color…)That leaves this question: Why hasn’t everyday email communication done the same? Think about it this way – your company probably spends quite a bit of money on building brand image. Billboards, newspaper ads, radio ads, jingles, TV commercials, logo creation, business cards, corporate letterhead, and websites are just a few of the places that corporate marketing dollars might be spent. Why leave out one of the most used (if not the most used) form of communication that you have?Everybody Wants to Brand Their EmailBranded email can be classy enough for more conservative companies (legal, banks, medical, etc) and showy enough for businesses to highlight products or services that have to have that graphical edge. Most companies can develop a template (or set of templates) that’s geared toward how you want to use them. The ability to choose from more than one template is also a nice feature to have, so you can vary the emails you send based on purpose.Me and Branded Email Down By the SchoolyardWhen you’re conly the larger ticket items – HVAC, electrical, etc.), or the landlord may factor the amount into your lease and you repay it over time, or a combination. Be careful that any concession on the landlord’s behalf isn’t overcompensated for in your dollars per square foot lease amount. If the landlord refuses to pay for any of the buildout, you may have to get them to move on the free/discounted rent duration, or some other facet of the lease.

You should be able to sublet space in your own space to another small, related business. This may be chiropractic, massage, or physical therapy. All considerations should be included, from insurance and liability to the access to the building allowed to these subcontractors.

There should also be a specific clause in the lease pertaining to your right to assign the lease without undue landlord interference. At any point you decide it is time for you to sell, dealing with a generic right to assign clause is a headache you want to avoid. This is a clause that you may want to have your attorney draw up, to make sure it is strong enough to prevent a problem.

The Lease should contain exclusions that the landlord will not accept competing businesses in the same center or specified area. This should include all other fitness centers, and may include tanning centers, weight loss centers, supplement stores/juice bars, massage therapists, etc.

Signage should not be overlooked by the tenant, as you can be sure that the landlord hasn’t. First, make sure of your legal rights in your community as they relate to signage. Research sign codes and get in writing exactly what those rights and codes are from the landlord. It must be absolutely clear to both parties exactly what the expectations are with the signage. Size, colors, attachment, etc., all have to be defined and understood in order to avoid any last minute surprises due to violations.

One final note, but certainly not lacking in importance, is the required guarantee on the lease. Similar to banks, most landlords will want you to sign as a business, as a personal guarantor, and possibly a co-signor will be needed. It is in your best interest personally to not sign as a personal guarantor, if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person’s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.

To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:

• Describe in detail the landlord's responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.

• Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.

• Provide a method for quick, inexpensive and final resolution of any disputes over the lease.

• Don’t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.

• Negotiate for the future of your business.

Other ideas to consider further:

Option to buy property

Sound proofing the location.

Rent averaging – lower rate escalating yearly to higher rate. Why You Should Use Direct Mail
With the explosion of the Internet coupled with the rising cost of postage many businesses simply no longer use direct mail as part of their marketing. If you’re just marketing online you are missing a wealth of opportunities off-line.Direct mail gives you the opportunity to talk directly to hundreds, thousands, and even millions of potential customers. A letter is like a dialogue between you and your prospective customer. It is a communication, one person talking to another. A letter is an opportunity to make the most compelling case on how your product or service will benefit the recipient.With direct mail you have an advantage over almost every other marketing or advertising form. No one will know the size of your staff or the capital of your company; with direct mail you are playing on a level field. The better you are at utilizing direct mail, the more successful your business will be.When you write your letter it has to be about the person you’re sending it to, the recipient, and his or her interests, not about you and your interests. It needs to focus on the benefits and results the recipient will receive from using your product or service and not about the features.Always keep in mind when you’re writing a letter that you’re not selling an abstract product or service. You’re selling the dynamic change that a product or service makes in someone’s life. if at all possible. If the business guarantees the lease, and something goes wrong, the business is liable, but you are not personally. If you personally guarantee the lease, then the landlord may come after your personal assets to satisfy the amount of the lease. This is extremely important if you are involved in a partnership or corporate entity in which the financial burden is unbalanced, meaning someone in the group has more to lose financially. The personal guarantee will also reflect directly on each person’s financial statements. This will be very important when you decide, either individually or as a company, to borrow more money. All of this should be addressed in the business plan ahead of time. If the financials are strong, you may be able to sign as a business, and not worry about the personal guarantee. If not, one way to negotiate is to ask for a clause which will let you sign personally for a designated time period, and then if your business and financial statements are healthy enough, to resign as a business only, removing the personal guarantee, and continuing the remainder of the lease.

To increase the likelihood that you sign the lease that you need and are going to get what you pay for, make sure that you:

• Describe in detail the landlord's responsibilities to tenant. For example, a carefully drafted lease will set forth the hours during which heating and air conditioning will be provided and will establish agreed-to temperature and humidity ranges.

• Define what constitutes a default by the landlord and describe the remedies available to the tenant if the landlord fails to perform its obligations. Many landlord lease forms eliminate these provisions entirely or severely water down the remedies available to the tenant.

• Provide a method for quick, inexpensive and final resolution of any disputes over the lease.

• Don’t get too emotional about a space or time frame, and make sure you have your money before you sign for anything.

• Negotiate for the future of your business.

Other ideas to consider further:

Option to buy property

Sound proofing the location.

Rent averaging – lower rate escalating yearly to higher rate.

Substantial and Partial Destruction and Timely Remedies.

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You've just reviewed the final results of your last pro-active media campaign to launch that new product or service. The numbers look pretty good: media impressions were in the millions; coverage was evenly split between broadcast and print; and a leading national paper ran three stories on the launch-pretty impressive. But could it have been better?

5 Things to Know about Credit Card Rewards Programs

Credit card rewards programs have come a long way. At first, they were reserved for the elite credit cards, which mostly required high priced annual fees to participate. Now, most every credit card has a rewards program, and most every program doesn’t even require an annual fee.

Make the Right Choice

The rapid growth of retirement-planning options such as 401(k)s, IRAs, and variable annuities has provided an ever-increasing variety of investment choices within each plan to save for retirement years. Yet, a number of reports show that an alarming number of today’s investors are oblivious to the importance of asset allocation in their retirement portfolios’ performance. This is despite the fact that financial advisors and the financial press have emphasized the asset allocation decision as critical to investment selection.

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