Business Lessons

I've mentioned my business idea before.  It evolves slightly as my skills and interests change, but the basic idea is still the same.  I looked into renting this building in Old Mandeville, which seemed perfect for the plan.  I thought surely, it must be a sign that I should rent this space for my business since it's been sitting there for so long. 

So everything's not a sign.  I finally did some real research on this place and found out why it's been for rent for so long - it's an "as is" property and the rent is high, and to purchase it is even more expensive!  I did learn a few things in my research, though.  NNN stands for net-net-net, which translates to the renter paying for property taxes, insurance, and any maintenance the building needs while you are paying rent.  It comes with a TI, however, which means that any improvements that the renter would need to aide their business,  like a wall that needed to be moved, would be taken care of by the owner of the building. 

Either way, the owner is looking to make money whether it's by selling the building all together or making a living off of renting it out.  It was surely flooded by Katrina and Rita, and has been sitting vacant for three years, so no telling what the wall conditions are like.  This has gotten me curious to look into other places to rent, though.  If I would decide to finally pursue owning my own business, it definitely couldn't happen until our daughter is at least three.  Plenty of time to research places to rent and firm up exactly what I want to offer customers.

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