Real estate developers and property managers alike are always on the lookout for how they can upgrade their properties. Whether it’s luxury residential apartments or a commercial building with multiple spaces for rent, you may be looking for a tenant that might just be profitable right from the jump. If you have a space made for commercial use (be it in the lobby of an apartment complex, an office building, or a mini mall), Tony Luke’s could be your next tenant.
If the need for a food option is increasing in demand from your other tenants, this guide on food franchise real estate integration will come in handy. We will go over the five following factors on what to consider when evaluating a food franchise that can pair well with your real estate property. Let’s get started now with what to know.
1. Brand Recognition and Local Appeal
First and foremost, one of the non-negotiable factors is brand recognition. The reason why this is so important is because a recognizable name can increase the profile of your property. As a result, you’ll have a greater chance of attracting prospective tenants and consumers. A brand name that is recognized by a specific region of the United States can also apply as well. For example, Tony Luke’s is nationally recognizable but has quite the magnetic appeal to those in the Philadelphia area and parts of the Mid-Atlantic United States.
The brand is known for creating delicious food quickly without sacrificing quality. They might be the sandwich franchise you might consider as your next tenant if a dining option is something you’re looking for. Besides, having a tenant known for delivering the best Philly cheesesteak might just give your location a competitive edge. Especially if you notice your part of the community appears underserved with food options.
2. Target Demographic and Consumer Fit
One other thing to note with restaurant space leasing to see if the potential tenant is a consumer fit based on the target demographic. Tony Luke’s has a broad appeal and does its part to serve customers no matter who they are, what part of town they live in, and the kind of lifestyle they live. Whether it’s college students, families, or even out-of-town visitors, we aim to provide them with delicious food that is delivered at fast speeds. The best part is we do not sacrifice quality and convenience in the slightest.
As such, Tony Luke’s is excellent for college campuses, sporting venues, retail centers, and other lifestyle destinations with plenty of traffic. We aim for this to be the best lunch or dinner place for pretty much anyone. Yes, this includes someone who might normally dine in high-end places, but would rather indulge in something that’s delicious and carefully crafted for once.
3. Flexibility and Site Adaptability
As a real estate developer or property manager, you understand that not all space is created equal. Likewise, not all food franchises won’t be all adaptable. However, Tony Luke’s is one such brand that is more than happy to set up shop in a space, be it 500 or 2000 square feet. We have a model that will fit smaller kiosks or full-service layouts. At the end of the day, you might have a space you never thought would be useful until you bring us in as a tenant.
We work in high-traffic common areas or can bring slow-moving areas of your property to life. Either way, it can work to your benefit and draw in more foot traffic. Plus, businesses that are affected by being in a low traffic area could see more foot traffic coming through their doors as well. Some might even say “how did I not know this place existed”. Yes, we’ve heard stories about that so many times. In other words, a Tony Luke’s could also help out other tenants as well in terms of their own business when it comes to more traffic.
4. Operational Efficiency and Tenant Support
If the operational processes are well-planned and executed, a franchise will thrive. The same applies if the parent brand has a strong support system. Developers and property managers alike will want a food tenant that will be consistent to the point where they see a steady stream of recurring customers. Best of all, they would also want a tenant that requires little to no intervention. Tony Luke’s has you covered when it comes to the heavy operational lifting.
We handle the supply chain logistics, staff training, and marketing. On your end, you do nothing other than get a good bite to eat and consistently get the month’s rent on time. In other words, we might be the closest thing to a dream tenant. We just might be the one tenant that will not bat an eyelash whenever you say “let’s do a long-term lease deal”. After all, that will set the stage for providing a go-to spot for delicious food for years to come.
5. Co-Tenancy Value Increases
Real estate developers and property managers know how important co-tenancy is. So much so that when they consider another potential tenant, they determine if that one in particular might be enough to bring in more. Tony Luke’s is perhaps one of your best bets in improving the value of co-tenancy for many reasons. If it draws in considerable traffic, a potential neighboring tenant will leverage that high traffic for their business as well. The space next to a Tony Luke’s just might be the most desirable space because of the traffic that happens to be nearby.
Final Thoughts
A food franchise like Tony Luke’s has the potential to bring more additional value to your property. It can drive traffic through its brand recognition, its speedy service featuring delicious foods, and the rave reviews from other tenants and customers in your local area. Tony Luke’s could also be quite the traffic driver that other business tenants will leverage for their own success. Of course, that will lead to more profit from you and spaces that previously didn’t seem desirable suddenly are being wanted by potential tenants.
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