For generations, owning and operating a restaurant has been a common dream for would-be entrepreneurs. Unlike many other businesses, most of us think we understand how restaurants operate (we all eat at restaurants, don’t we?), and there is a certain charm and allure to the idea of welcoming our friends and neighbors to a place […]
Read more...Author: smorris
Three Common Mistakes to Avoid When Starting your Business
Let’s get one thing out of the way: when you are starting a business you are going to make mistakes — a million of them. That’s okay. It’s how we learn and grow, and it also keeps things interesting. But what’s not okay is when we make mistakes that are easily avoidable, and which can […]
Read more...What are Your Options? Negotiable or “Market Rate” Lease Renewal Provisions
In a changing real estate market, especially one with rising commercial property values and rental rates, whether you have a renewal option in your commercial lease and the terms of any such option can be critical. It is highly preferable to have an option provision that specifies the rate of any renewal, e.g. some set […]
Read more...How a Glitch in Local Liquor License Laws is Hurting Fast Casual Restaurants
I’ve written here before about how one of the distinguishing and appealing elements of fast casual restaurants is that, unlike more traditional “fast food” outlets, they often serve alcohol. Most often, however, these restaurants do not have a full bar and only want to serve beer and wine. That more limited offering can make things […]
Read more...Listen: Founder Sean Morris Featured on the Law Entrepreneur Podcast
Our founder and principal attorney, Sean Morris, was recently interviewed by Neil Tyra for his popular new podcast, The Law Entrepreneur. Take a listen here as Sean speaks to Neil about, among other things, why he decided to build a practice focused on the needs of restaurant owners — or, as Neil puts it, how […]
Read more...12 Questions to Ask (and Answer) Before Signing Your Restaurant Lease
As I’ve written here before, perhaps the document that will have the greatest impact on the success of your restaurant will be your lease. It sets the terms of your relationship with your landlord, governs the manner in which you may use your space, and determines what you must pay – each and every month […]
Read more...Yes, Your Business Needs an Operating Agreement
Imagine this scenario: A couple of years ago you partnered up with a few associates and started a new restaurant business. Because you did not know much about the business, you opted to take a background role, with your contribution largely being financial. You trusted your partners, who had experience as chefs and restaurant managers, […]
Read more...The Facebook Trap: Social Media, Solicitation, and Securities Law
You have a great idea for a new business – it is a fantastic new restaurant concept that incorporates some of the hottest trends in the industry, with a new twist that is uniquely your own. You put together a business plan, determine how much money you will need to get it off the ground, […]
Read more...Last Call for Georgetown Liquor License Moratorium
Starting next week, for the first time in 27 years, restaurants in Georgetown will be able to apply for new liquor licenses. The District of Columbia’s Alcoholic Beverage Control today voted not to extend its decades-old moratorium on liquor licenses for restaurants, which had been set to expire on April 8. The moratorium was instituted in […]
Read more...Is Granting Equity to Early Backers of Your Business a Good Idea?
The New York Times had a terrific story this weekend on a matter I see all the time in my practice: entrepreneurs who hand out equity in their businesses at the startup stage, then years later want to buy those equity-holders out, but lack the resources to do so. The piece opens with the story […]
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