It’s the same concept and renting a home verse purchase the upfront cost of leasing the same is a lot less but you never own the property. You will always have to answer the owner in a lease space . If you own the space it’s gone building you can do whatever you want
I thought I found a great space but did a lot of my process backwards and wish I would have been came across your videos earlier. Now I am getting out of a lease that I had already signed and now looking for another space because even though my 1st scenario was mess I am not giving up! Looking at the 2nd space or option I am super precautious so reading through the lease that I have not signed yet it has that I am responsible for HVAC replacement and roof repair that to me is was too much for a tenant to be responsible for!!
Thank you so much for all this information, I’m currently interested in starting my event venue biz I don’t have a legit business what should be my first time . Should I do sole proprietorship or an LLC
so helpful!! I hope to open my event venue space soon. thank you so much for your information! i do have a couple of questions-where do you find your local vendors? also, where do you purchase your table and chairs? thanks!!
I used this LoopNet methods and currently working with a great real estate group. They’re renovating an old office space into a venue and their paying for my walling demolitions and floor. Good tips!
Hey fam!!! Thank you for your content it’s extremely helpful especially as a single mom. I do have a question, did you have issues with zoning or changing the permit use of the space?
Hi there typical this type of lease works for an office setup or office suite where there are multiple tenants splitting the cost of things such as utilities ! Event spaces are different we have to worry about CAM or Triple Net !
Thank you for the knowledge queen. Very much appreciated❗️Thank you for sharing and NOT being a gatekeeper. 🙂
You are so welcome!
Very informative!! Thank you 😊
Thanks 🙏🏾 no problem
Awesome video and knowledge. Do you have any suggestions on negotiating tactics, i found a building and ready to put in an offer?
Thanks for those I’m hoping to open my venue soon working with realtor now
Yeah !!!!! Please keep me Posted!!!
What are the pros/cons of leasing an event space vs financing it to own the space? Thank u :)
It’s the same concept and renting a home verse purchase the upfront cost of leasing the same is a lot less but you never own the property. You will always have to answer the owner in a lease space . If you own the space it’s gone building you can do whatever you want
I thought I found a great space but did a lot of my process backwards and wish I would have been came across your videos earlier. Now I am getting out of a lease that I had already signed and now looking for another space because even though my 1st scenario was mess I am not giving up! Looking at the 2nd space or option I am super precautious so reading through the lease that I have not signed yet it has that I am responsible for HVAC replacement and roof repair that to me is was too much for a tenant to be responsible for!!
Exactly Shelly!!! That’s a big red flag 🚩 my dear !!!! On to the next space
!!!!!
Thank you so much for all this information, I’m currently interested in starting my event venue biz I don’t have a legit business what should be my first time . Should I do sole proprietorship or an LLC
You got this! Ashton you should start off with and LLC in my opinion !!!
so helpful!! I hope to open my event venue space soon. thank you so much for your information! i do have a couple of questions-where do you find your local vendors? also, where do you purchase your table and chairs? thanks!!
Hey Kiki I would go Facebook groups for local businesses. Type in the vendor services and I’m sure plenty will pop up
I used this LoopNet methods and currently working with a great real estate group. They’re renovating an old office space into a venue and their paying for my walling demolitions and floor. Good tips!
Fantastic! Wow I would love to see pictures !!!! Join my free community and drop the pics !!!
@@Bossupwiththehayes how would I do that?
Hey fam!!! Thank you for your content it’s extremely helpful especially as a single mom. I do have a question, did you have issues with zoning or changing the permit use of the space?
Hi Ciera , great question! Problem , no I was just super aware of zoning before signing my lease
Where can we find vendors to decorate??
How are you covered when they even has liquor Would I need a liquor license?
My question is how do u know which property is event space friendly
Check with city to see if it is zoned for it
So we don’t have to pay the realtor for finding the space??
Nope not at all
For a venue of 100 guests, how much square ft would you recommend?
It depends on the city the business will be licensed in but roughly 2500-3500
Whats your view on modified gross lease agreements? @
Hi there typical this type of lease works for an office setup or office suite where there are multiple tenants splitting the cost of things such as utilities ! Event spaces are different we have to worry about CAM or Triple Net !
Business insurance... what options?
You will need liability insurance
Which is better CAM or Triple N?
CAM is better when your renting your own space
Hey what is CAM?
How much sqft is your space?
Hi Shakeel , my space is 1440sq ft !
How many people can you fit ?