Enter in your cash flow forecast the amount of rent you will have to pay for your premises in the months that you will have to pay it.
If you have not yet decided on a particular premises you could contact a local estate agent who handles commercial property to get an idea of how much the rent is likely to be. If you have already given some consideration to the type and location of the business premises that you will require, they will be able to give you some guidance as to how much you will have to pay. Your local planning department will give you guidance on whether planning permission for an arcade is required and, if so, whether it is likely to be granted on the particular properties you have in mind.
Bear in mind your premises should be accessible to customers who are disabled.
Your solicitor will help you with the lease agreement but make sure that you are clear about:
- whether the premises can be used for the purposes you have in mind
- how frequently the rent will be reviewed
- how long the lease runs for
- what you and the landlord are each responsible for
- the position as regards sub-letting