New franchisee seeking brokerage guidance to compete in market for prime real estate
I am a new franchisee of a quick-service/fast casual restaurant concept with rights to open 10 units over the next 10 years in my market. I presently have an existing lease signed for my first location, which will be a sit-down restaurant with no drive-thru, and hope to be open by end of year. I have a strong and successful business background with solid financials, but this will be my first restaurant venture. I’m seeking what basically everyone else in my industry is…existing drive-thru restaurants and shopping center endcaps with good visibility, preferably 2nd gen restaurants. I have the financial ability and credit-worthiness to lease pads for ground-up construction, but I feel it a bit unwise to do so early on, as I would like a bit more personal proof of concept before I begin spending $1M+ on a single location. So I think I’ll stick with existing for at least the first 3-5 units. I would like to get myself out there in the brokerage community and start building relationships to compete against more established brands/franchisees in my restaurant subset for desirable space. Agents, is there anything you would want to hear from a new kid on the block that would help move the needle over a more established tenant? Any tips moving forward? I am actually a licensed agent with access to CoStar, so I plan on doing a fair amount of prospecting myself in the event I get the cold shoulder over and over. I realize a lot of this inventory moves off market, especially when it comes to existing drive-thrus, so I thought to take some initiative. Thanks to all in advance!
[{"id": "huusc6l", "text": "I would connect with better known retail teams in your area.    Tell them about your concept, criteria, and offer them 1-.5% additional commission as a finders fee.", "replies": [], "depth": 1}, {"id": "huv4vyp", "text": "Your can use CoStar to see who completed similar deals in your area....", "replies": [], "depth": 1}, {"id": "huxjvfo", "text": "I\u2019m also a national tenant who used brokers in different states, the best brokers. You can message me", "replies": [], "depth": 1}]