Starting, Owning and Marketing A Restaurant Blog|Starting and Owning a Restaurant - Construction, Planning, Marketing, Opening and Managing a New Restaurant

Five days after we anticipated the lease being approved by the landlord and signed a day or two thereafter, we are still waiting. According to the leasing agent, the lease should be ready this afternoon. However, I will be out of town for three days later this week and have no intentions of signing until I get everyone back moving again.

Remember, when you sign a lease the clock starts ticking. In this case there are no lease payments until the Certificate of Occupancy is issued or 180 days, whichever comes earlier. However, CAM (common area maintenance) charges start immediately. When your lease payments start upon the day of signing, you want to make sure you are ready to begin your work to get open. Each day costs you after you sign.

Here is what has occurred in the last few days:

• We are beginning to work the details of the business plan.
• We have the format for the marketing plan, which will begin prior to opening.
• The ventilation hood contractor has been advised to complete his quote according to the preliminary drawing done by the architect.
• Our accountant is working on the formation of the LLC and securing a Federal ID number. He will then set up our initial records for bookkeeping purposes.

This is the time in a restaurant startup that you feel helpless to make things happen. Until the lease is fully signed out, there is always the possibility that something could go wrong. Your investment is starting to climb, with attorney’s fees, architect fees, accountant fees and your incidental costs.