The Top 5 Real Estate Tips For Your Franchise
Suppose you’re in the process of acquiring
a commercial property to buy or lease for
your business. In that case, it’s important to do your due diligence in becoming familiar with the property history and conditions. Some might view connecting with a national GC at this stage too early in the process.
However, it’s wise to bring them on
during this evaluation stage, so you don’t
overlook possible deal-breakers in your
new space.
Below are the top five best-in-class
assessment tips to follow when assessing
your next franchise space.
UTILITIES & UPGRADES
Your new franchise’s existing utilities can
affect just about every step of the design
and build process and their respective
expenses.
As you start to invest your time and money
into your commercial property, your
national GC will document the types of
utilities your space requires. Certifying
whatever upgrades you have in mind will
match the energy source.
You want an expert eye because you don’t
want to get too far in your upgrades and
suddenly realize your gas line might not be
up to code.
ACCESSIBILITY
Making sure to adhere to accessibility
conditions in your new franchise is central
to your space’s functionality. If your new franchise is a medical clinic, restaurant, medical spa, or any public property, you might want an expert opinion about ADA regulations.
Things can turn into a liability real quick if your franchise is inadequately prepared.
CODE COMPLIANCE
Following suit with the previous advice, general code compliance and permitting go hand-in-hand when prepping your next franchise location.
Things could be much easier if we could all
bypass getting “permission” to design a
space we purchased, but that’s not the
case and with due cause.
If you bring your national GC on board
during this stage, you’ll quickly find to your
benefit how much faster and easier the
permitting process can be.
Contact Ferrandino & Son at (866) 571 – 4609 or email
sales@ferrandinoandson.com to talk more in-depth about your local franchise build-out now!
DEMOLITION & HAZARDS
In terms of dealing with the demolition
stage and the abatement of hazardous
materials, it’s highly-recommended to
enlist a contracting partner.
You don’t want to go through the hassle of
doing this part alone.
By acquiring a GC, you’ll not only feel
comfortable with the completion of the
task, but you’ll feel better knowing that the
vetted crews (responsible for tackling this
stage) have the right protective gear and
personal protective wear.
HIDDEN FIGURES
Finally, the one thing that is perhaps of the
highest-priority is dealing with your
franchise’s hidden costs (e.g., subsurface
conditions).
Now that you’ve purchased your space, the
last thing you want to do is put the budget
you have aside for your projects to go into
other spontaneous things that will raise
your bill.
Spontaneous hidden fees could include
unanticipated groundwater (static or
percolating), muck and excessive rock
formations, and other artificial
human-made obstructions.
Again, your national GC will come to the
rescue, and make sure to catch all these
issues first so that you won’t deal with any
hidden surprises.
In the end, your partner can help save you
tens of thousands of dollars through their
experience and perspective.
They know the ins and outs of your
structural conditions, city inspections, and
the necessary details of the work that’s
required.
Most importantly, your GC can weigh in on
your project’s true scope of work and cost.
For additional reading, please check out
these resources below:
Check out our latest blog HERE for more information!
Check out our latest case study HERE for more information!
CONNECT WITH US TODAY!
Did you purchase a franchise and require a contractor to develop your space?
Please email us at sales@ferrandinoandson.com to connect with one of our dedicated representatives to launch your franchise today!
866-571-4609
sales@ferrandinoandson.com