Pop up restaurants: the advantages of a short term lease
Interested in bringing a new food offering to the table? Business Agent, Will Langton tells us why investing in a short term lease will help you to succeed in the rapidly changing eating out market.
Over the past few years, we have seen the pop up restaurant market sprout rapidly – especially in London where rents are higher than the rest of the country so taking out a more temporary space presents a far smaller risk for budding entrepreneurs.
Whether it’s an online catering service testing the water with its first physical presence or a keen cook with a niche business idea, the pop up market represents a melting pot of culinary possibilities and this is a trend which is here to stay. From a customer point of view, there is an insatiable demand for new and exciting food concepts so temporary spaces cater for the growth of these new ideas extremely well.
So why are pop ups a good place to start? A short term lease offers the flexibility to operators before committing to a long term lease, giving them the opportunity to perfect their offering and experiment with what works. It gives business owners the opportunity to get instant feedback from their customers, hone their product, test new locations and get to grips with the logistics of running a business before looking for a more permanent base.
Short term leasehold sites are widely available in the marketplace and Christie & Co is currently marketing a variety of venues which suit this specification. These include City Sports Pub & Grill in Aldgate, a 150 capacity venue with a late licence to 4am from Thursday to Saturday, as well as a restaurant in Marylebone. Both offer ideal locations for a pop up concept with short term lease agreement options.
Restaurateurs are becoming more innovative and this benefits an industry which is facing strong headwinds rooted in challenges such as the increase in National Living Wage, changes to business rates and Brexit which is negatively impacting the availability of staff in the hospitality sector according to many operators. As long as businesses adapt to the changing landscape of the eating out sector and have an idea that they’ve tried and tested, they are sure to flourish.
