GUIDELINE FOR NEW LGS LOCATIONS

Demographics

- Minimum street traffic count of 15,00 cars per day at a speed not to exceed 40MPH. Two way local traffic with a traffic light near the store is preferred. (The absence of a median is preferred).

- Easy access to parking.

- Store front visible from all directions. Signs for walking and driving customers.

- Driving, eating, shopping and working habits of the people and the neighborhood should be studied.

- Generally, subs are most frequently purchased by people of all ages.

 

Lease Provision

- Ten-year term with five-year option or five year term with (two) five year option. Clause stating that the lease shall be canceled if tenant is unable to receive all necessary permits.

-Rent start date ninety (90) days after landlord has approved tenant's architectural plans or when tenant opens for business with the public.

- Clause stating that throughout the lease when landlord's approval is needed, such approval shall not be unreasonably withheld.

- The lease terms and conditions are an important part of your investment. If there are any questions, review the lease with a real estate attorney prior to its execution.

- Leasehold improvements can be greatly educated if the landlord pays for the tenant's construction costs.

- Landlord approval or company signage.

 

Construction

The condition of the premises, utilities available and size/shape of the proposed store directly affect the capital outlay for leasehold improvements and their costs. The following are some minimum requirements, cautions and preferences:

- Storefront and width should be a minimum of twenty (20) feet allowing for a good seating arrangement.

- A minimum total of 1100 sq ft is required. 1350 sq ft is preferred and 1500 sq ft allows for the best possible serving and eating arrangement.

- Ceiling height should be a minimum of ten (10) feet which allows for indirect lighting for better product case and menu display.

 

The following utilities should be used:

- 300 amp electric delivered to a main disconnect switch with one 220 volt outlet.

- Hot and cold water with sufficient pressure, temperature and pipe size for store distribution.

- Two handicap accessible restrooms with floor drains.

- Complete heating and air conditioning system.

 

Guidelines for Larry's Giant Subs Locations

There are three types of stores, each having their own advantages and disadvantages:

 

In-line Store fronts. Corner store preferred

Types of stores with neighborhoods on either side, plus visibility to our store and very important.

 

Convenience or strip shopping center

This type of center should have a large, high-volume supermarket entrance (or the highest traffic generator). Visibility to store front and parking convenience should be analyzed.

 

Enclosed Mall

Location is critical. Walking traffic flow and entrance / exits should be studied at various times of the day for flow patterns. Parking should be adequate, convenient and weather protected if possible. Close proximity to proposed store location is essential.

 

Generally speaking, in-line store fronts, convenience or strip shopping centers and enclosed malls, with the proper generators, and demographics are all good locations, providing the rent structure relates favorably to the gross volume.

 

Generators

The following customer generators should be available at various times of the day to satisfy the store hours which are 10:30am to 10:00pm seven days a week.

 

- Theaters in the immediate area with 4 to 6 showings at various times of the day. Quality restaurants, that don't primarily serve submarine sandwiches, should be in the immediate vicinity.

- Churches, schools, colleges, hospitals, office parks, high density residential areas and recreational facilities.

- Shoppers walking or driving past the store.

- Light, commercial daytime traffic from offices, hotels and other businesses in the immediate trading area is a plus.

- High rise apartments, garden apartments and multi-family homes are preferred in the immediate store vicinity to help increase population density.

- Bus stops and train entrances often generate people to the area. Study walking patterns of the commuters at various times of the day.

 

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