NEW ORLEANS — As part of their educational sessions at Clean 2013, Coin Laundry Association (CLA) presented a panel discussion for coin laundry store owners on the logistics of leases in a session titled Advanced Laundry Lease Analysis.
Brian Wallace, CLA president, moderated the panel, which featured Brian Grell, executive vice president at Eastern Funding; Van Merrill, vice president of Vended Laundry Development & Sales, CG West; and Charlie Pasquale, founder of Pasquale Properties and CEO of BCC Payments.
Though Wallace explained that hiring proper representation is key in making decision on leasing property, the panel talked about several aspects of the leasing process, like lease assignment agreements, how to pitch a laundry business to a landlord and the overall tactics and strategies to the art of negotiation.
“Try to be reasonable if you’re not using a professional and you’re doing it on your own,” said Pasquale. “There is a calculation to what real estate is worth and what the landlord needs to make his business function.”
For Grell, the key lies in being professional through reaching out to local distributors in the lease process, and utilizing their knowledge to help store owners show what they have planned for their business to the landlord.