Inspirational and Empowering Child Care Business Owners To Build Successful Child Care Businesses

Posts tagged ‘Leasing a building’

Your Dream Will Come True (Get Focused)

Your Dream Will Come True (Get Focused)

On October 1, 2014, my husband and I signed the lease on our Dream Location!

That was an exciting day for the both of us! In fact, that was the day that I realized that I am finally moving in the Direction of my dreams and I could hardly believe that we were sitting at the table with the children of the man who built our new location over 20 years ago.

While we were signing the lease, the Owners of the building revealed to us why they chose us and they said this: “We chose you because we loved the name Learning Days and we also love the fact that your husband (who happens to be a contractor) will help you maintain the building.”

I shared this with you to let you know that, your name speaks volumes about your Business! Also, be sure that you have an assigned maintenance person when negotiating a lease or even buying a building.  Read the entire eNewsletter now!

 

Inspiring You to Succeed….

Shiketa

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Category:

Business Expansion, Business Management, Child Care Center

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To Lease or To Buy?

rent-vs-buy

Do you own a Child Care Center? Are you leasing or buying your Building? I signed a lease my first Child Care Center in 2003. In fact, at the time that I was searching for a building for my first Child Care Center  and  I preferred to lease.

Leasing just seemed to be an easier route for me back in 2003. There was no closing cost and I didn’t have to put down 20% of the price of the building.

Furthermore, if I discovered that my first location was not great, I could leave at the end of my lease and not worry about having to sell the building.

After leasing the building for 11 years, I have decided to buy the building. It has been established that the location is profitable and also, after speaking with a banker and doing lots of research on the owning the building, it is in the best interest of your business to own the real estate.

Furthermore, after doing the math, owning the real estate increases the value of your business and it makes sense in the long run to buy the building.

For example, for 11 years I paid over $24,000 a year to lease my building. However, I have discovered that a mortgage could save me $12,000 a year! Now that makes sense to me and I could use another $12,000 a year in my budget!

If you have been leasing your building for at least 5-10 years, its probably time for you to buy your building and increase the value of your Business. In the event that you decided to sell your Business, you will get more for the business, if it comes with the real estate!

Are you currently looking for a building? Not sure if the location is a profitable location? I’m not a real estate expert, however, I believe that it is safe to say that you may want to lease the building for at least 3- years, before you commit to buying it.

Do you Lease or Do you Own Your Building? Leave your thoughts below…

Shiketa

Think about expanding? Schedule your Expansion Coaching Session with me today! 

Resource Articles

http://www.bizfilings.com/toolkit/sbg/office-hr/your-workplace/business-facility-lease-or-buy.aspx

http://www.inc.com/guides/2010/07/how-to-purchase-commercial-real-estate.html

Category:

Business Management, Start a Child Care Business

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