20% 20% Identify Short List of Prospective Sites
Step #1: Exhaust all prospective locations both on and off market, determining where potential deals may exist. Rank those locations according to desirability and begin developing a short list of 1-3 locations.
40% 40% Submit LOIs for Short List
Once short list is identified, begin submitting Letters of Intent ("LOI's") to each location's owner/landlord representative.
60% 60% Negotiate Preliminary Term Sheets for Short List
Commence the redlining process of the negotiations for top locations.
80% 80% Select Top Site and Begin Formal Lease Negotiations
Once the LOI for your top site has been signed off by both parties, begin drafting the final lease agreement.