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Looked at a potential shop today

J

john1

Guest
Hey guys!

I have a business friend i have been working with for about 6 years now and we both went and looked at a shop location today. He currently has a very small shop just up the road he is outgrowing.

He currently does digital printing of business cards, postcards, letterheads etc. We exchange services weekly and it has been working great for both of us.

The location is commercial of course, has 2 large separated rooms that are about 20x40 each. Totally open with plenty of outlets and space. Has 1 bathroom we can both share. Perfect for my versacamm and even a larger one if i was to upgrade to a 54" (hopefully).

I would be subleasing from him as this is my first shop adventure. The landlord is totally fine with that as we spoke today.

Everything is looking real good and i hope to move forward on it after some more research.

Signage will be directly on a main 4 lane high way which is near a truck quary and 2 major gas stations.

Woot!
 
J

john1

Guest
The two rooms are separated by a door way but you can access each one by their own door. We are sharing the retail space. One room is mine and the other is his.
 

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2B

2B

Active Member
are you looking to keep the same arrangement of exchanging services?

IE someone comes to you for a sign, like the work & want to make it into a business card. you say X amount walk next door and get Y amount?
 
Gino

Gino

Premium Subscriber
What if the other guy can't keep the rent going ?? Will you get kicked out or could you afford both sides if he decides to bail ??

The other question would be.... you need proof he is INDEED using your money to pay rent and whatever utilities might be additional.


Be sure to have an ironclad agreement between the two of you that doesn't interfere with the original lease.... and have it signed, witnessed and notarized.
 
Mike Paul

Mike Paul

Super Active Member
Sounds like a bad idea.
You better have your *** covered from all angles. Lots to think about, insurance etc.
Subleasing is frowned upon in most municipalities and usually not allowed.

What if your arrangement falls apart in a few years and he decides to add signage and decals to his business at the
same location after he give you the boot...
 
J

john1

Guest
Why does it sound like a bad idea? I WAS excited. Thought i was getting somewhere but guess not.
 
G

GypsyGraphics

New Member
i think people just want to warn you of the pitfalls john. entwining your business with someone else's is a big deal... so many things that can go wrong... especially if you don't get EVERYTHING in writing.

don't be discouraged... i think you're going to have a lot of people saying it's a bad idea. but know why, will be good even if it does work out well for you. better to go in with your eyes wide open. in fact, the horror stories will probably be more helpful than just hearing "good for you." let people who have gone through this help you realize what needs to be addressed in your agreement.
 
Mike Paul

Mike Paul

Super Active Member
Many print shops now offer signage, lettering, banners and such.

Lets say you were there for 5 years and he decides he needs more space and terminates the sub-lease and starts offering your services at that time because the (your) customers are still coming in for that.

Make sure you get attorney.
 
allamericantrade

allamericantrade

New Member
Mike Paul said:
Many print shops now offer signage, lettering, banners and such.

Lets say you were there for 5 years and he decides he needs more space and terminates the sub-lease and starts offering your services at that time because the (your) customers are still coming in for that.

Make sure you get attorney.
Click to expand...

:goodpost:
 
JKADesigns

JKADesigns

New Member
Get your own lease from the landlord for that half of the building. Specify in the lease that your "half" of the building cannot be used for a sign shop for a period of two years after you have terminated your lease. Utilities can be split with your partner and everything else. That's my personal outlook on it. That way your partner can't tell you to leave and he can't wait til you go broke and buy all your equipment and rent your space. Yes, he could do it in his own space, but not the whole building.
 
James Burke

James Burke

Being a grandpa is more fun than working
I say be excited, but also be cautious. Reality has a way of setting in once the honeymoon is over...just make sure all your (and his) expectations and obligations are in writing and are agreed upon before signing on the line.


JB
 
Mosh

Mosh

New Member
I just put up a 80'x200' , with 20' sidewalls, metal building on my farm, installed was $65K. this does not include any concrete or interior doors or windows...my point is have you looked at just building somrthing?

Check into it, cause that sounds like a chicken shed size wise.
 
CheapVehicleWrap

CheapVehicleWrap

New Member
Mosh said:
I just put up a 80'x200' , with 20' sidewalls, metal building on my farm, installed was $65K. this does not include any concrete or interior doors or windows...my point is have you looked at just building somrthing?

Check into it, cause that sounds like a chicken shed size wise.
Click to expand...


Maryland is still considered civilization. You can't just plunk down whatever you want.

I'd insulate that baby with 4-6" foam boards if not just for the float factor.
 
Mosh

Mosh

New Member
http://www.wickbuildings.com/buildings/

This is what i got...duh, insullate and good doors and windows...
what i got was to park $500K++ of combines and tractors in! not to work in.

Seriously look into getting a building made. Rent is just like flushing money down the toilet!!!
BTW I have rental property so I know!!!
 
Mosh

Mosh

New Member
I don't stay sober for one.... Seriously, I got one of these put up last fall. If you put concrete in it and insulated it they would make a great shop. Check out the link I put.

http://www.wickbuildings.com/buildings/

40x40 all done would be around 100K or less...cheaper than rent any day. Can't ague that...
 
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