Opening a new place in Baltimore

[PizzaDiFiore]

Investor secured, location secured!  Looking for more $$ and working on designing the site.  So Stoked! 

[TXCraig1]

How much capital does it take to open a pizza place?

Best of luck to you.

CL

[PizzaDiFiore]

Depends on the space.  Does it need to be totally built out?  Does it already have a kitchen, ventilation, adequate restrooms, water, electricity, gas.  LOTS of variables.  For what I'm looking to do, it will cost about $200k-250 for the buildout.  That includes everything including exterior signage.

[PizzaBrewer]

Howdy!  Did you ever get your pizzeria open in Baltimore?  I'd love to stop in.

[PizzaDiFiore]

Howdy!  Did you ever get your pizzeria open in Baltimore?  I'd love to stop in.

Unfortunately, no.  Ran into some complications, still working on it though.  Just taking longer than expected.  The original location I had picked was in a severe flood area, and floods a few times a year.  My investor is still in, but then we had some family issues that needed attention.  Scouting locations currently, thinking about the county now instead of Baltimore City, it's getting pretty saturated.  Do you have a place?


Terry

[Chicago Bob]

Depends on the space.  Does it need to be totally built out?  Does it already have a kitchen, ventilation, adequate restrooms, water, electricity, gas.  LOTS of variables.  For what I'm looking to do, it will cost about $200k-250 for the buildout.  That includes everything including exterior signage.

Hey Terry,
I hope you're able to find a location and soon be able to open up your own pizza restaurant. If you don't mind, could you please take a moment and explain how a lease works when one is doing the type of very expensive "buildout" you were facing with the property you were formerly contemplating. Thanks alot.
Bob

[PizzaDiFiore]

Hey Terry,
I hope you're able to find a location and soon be able to open up your own pizza restaurant. If you don't mind, could you please take a moment and explain how a lease works when one is doing the type of very expensive "buildout" you were facing with the property you were formerly contemplating. Thanks alot.
Bob

Most developers/landlords want you to be successful.  They want your business to thrive, so they can have a guaranteed income and attract additional quality lessees.  In this case, many landlords (not all) will allow you to build-out/renovate your restaurant space rent free, as long as it's an agreed to amount of time.  Many landlords will also give you the first few months rent free to help compensate for the build out and until the word starts to spread. 

The developer I was working with was awesome.  Hands down, if I didn't back away from the location, I would have definitely been open by now.  He liked me, liked my ideas and my concept.  That isn't always true. The space I liked was an old warehouse.  It needed a complete buildout.  There was no plumbing, electric, or AC.  With a 7000+ square ft space, I was looking at a potential $150k build expense.  And the developer was willing to commit to another $100k in building improvement. Unfortunately, I wasn't as ready as I thought and decided to walk away.  I hope they can find someone for the location, I'm sure someone will eventually.

[slybarman]

Bob:

Landlords will often finance the build out (or a large portion of it) in the form of a tenant improvement allowance. The amount the landlord spends is essentially rolled into a higher rent amount over the term of the lease.

[breadstoneovens]

Hi Terry,

your project sounds great. I am in the Baltimore area and I have heard of couple of space opportunities. You mentioned in a earlier post a warehouse that was 7K ft, are you looking for something that big or you are flexible?

Let me know,

Antoine

[PizzaDiFiore]

7000sqft is a bit much for our concept.  Ideally, looking for around 2500-3000.  Don't get me wrong, there are alot of locations out there.  Just looking for the right one.



T.