What Are Leasehold Improvements & How Do They Affect Your Small Business?
JUNE 6, 2019
In some cases the construction budget for these leasehold improvements can exceed a full year’s worth of rent. If the property requires a full demolition and rebuild job, smaller landlords might not want to fund the construction cost of the entire project, particularly if the small business owner is not well established. Let’s look at a 1,000 square foot retail tenant with a construction budget of $40 per square foot ($40,000).