Consider your current or proposed business as a fast food restaurant. Using appropriate sources such as the internet or newspapers, locate one option for leasing suitable business premises and one option for buying premises. Describe each option and state which one best suits your needs. Explain your choice.
Option 1: Leasing Business Premises
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Location: 123 Main Street, New York City, NY
Description: This option is a commercial space located on Main Street in New York City. The premises are approximately 1,500 square feet, with ample parking space and high visibility. The location is in a busy commercial area with high foot traffic, making it suitable for a fast food restaurant. The premises are currently vacant and available for lease for a period of 5 years with an option to renew.
- Prime location with high visibility and foot traffic.
- Ample parking space for customers.
- Availability for lease, allowing for lower initial investment compared to purchasing.
- Ongoing lease payments, which may increase over time.
- Limited control over the property, as it is not owned.
- Potential restrictions on modifications or alterations to the premises.
Option 2: Buying Business Premises
Location: 456 Broadway Avenue, Los Angeles, CA
Description: This option is a commercial property located on Broadway Avenue in Los Angeles, CA. The premises are approximately 2,000 square feet and are currently operating as a fast food restaurant. The property includes the building and the land, providing full ownership and control over the premises. The location…GET A COMPREHENSIVE ANSWER HERE
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