Securing the right site and negotiating a competitive lease may significantly impact the sales and profitability of your store. NTY Franchise Company provides extensive knowledge and assistance with finding a great location for your store as well as help negotiating your lease. After you have secured financing for your business, your first major step is to go through the real estate process.
NTY Franchise Company has adopted a standardized real estate process that features a clearly defined, all-in-one strategy for site selection, lease negotiation and legal review. In order to accomplish this, we have teamed up with real estate experts, Colliers International. By outsourcing the real estate services, our franchisees receive many benefits such as money and time savings and a faster store-opening process.
Colliers International is a leading global commercial real estate services organization defined by their spirit of enterprise. With more than 16,300 professionals in 502 offices worldwide, they are dedicated to creating strategic partnerships with NTY Franchise Company and our franchisees, providing customized services that transform real estate into a competitive advantage.
Real Estate Process
Phase 1: Franchise Location Evaluation and Broker Assistance
Understanding various aspects of site selection and identifying the perfect location for your store. For Clothes Mentor, we recommend the following general location features:
- Within a suburban power strip center
- 2,500 to 3,500 square feet
- Near regional or fashion malls where women who are 25 years old and older shop for high-quality, name-brand clothing, shoes and accessories
Phase 2: Site Selection and Letter of Intent (LOI)
Negotiating and submitting proposals and assistance with preparing an LOI.
Phase 3: Lease Agreement (LA) and Space Preparation
Reviewing your lease agreement to make sure it matches your LOI and understanding when the landlord will turn the space over to you.