From Italy to Independence: The Realities of Buying a Business
Italy is teaching me something: business can be built around lifestyle. Owners close their shops for a few hours, and no one bats an eye. Work...
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Buying a business is one of the smartest ways to build wealth, but finding the right deal, structuring an offer, and navigating the process can be overwhelming. That’s why we created The Buyers EDGE Club—a game-changing membership designed to give you the tools, knowledge, and exclusive access needed to acquire the right business at the right price.
3 min read
Carl Quindel
:
Sep 9, 2025 7:30:00 AM
When buying a business, most people get laser-focused on revenue, expenses, employees, and customers. But there’s one factor that can quietly make or break your deal: the real estate.
Now, before you picture yourself in a hard hat flipping through blueprints like you’re on HGTV, let me clarify: I’m talking about the lease (in most cases) or the property itself (in fewer cases). Either way, you can’t afford to treat the real estate side of a transaction as an afterthought.
In fact, if you ignore it, you might end up with a fantastic business…that you can’t operate because the landlord decided to double the rent. And trust me, it’s hard to sell a million tacos a year if you don’t have a kitchen.
The right location drives everything, customer traffic, visibility, parking, employee commutes, and even how much the business is worth. A neighborhood bakery tucked into a cozy strip mall has a very different future than one stuck behind a warehouse next to a tire dump.
Even if the real estate isn’t part of the sale, the lease terms absolutely affect the value of the business. And when the real estate is included? Congratulations, you’re actually buying two separate things: the business and the property. Think of it like buying a car and the garage it’s parked in. Both matter, but they’re valued differently.
Bottom line: Most small business buyers will inherit a lease. Which means you’re going to have to win over not just the seller but also the landlord, and some landlords treat lease approvals like auditioning for “Shark Tank.”
If you’re buying both the business and the real estate, here’s rule number one: value them separately.
Mixing the two is like trying to figure out the worth of a cheeseburger by adding up the price of the bun and the cow. Doesn’t work.
In fact, many deals are structured as two separate transactions: one for the business, one for the property. This makes financing cleaner (since lenders treat the two assets differently) and can also create tax advantages. Your lender, CPA, and broker will all thank you for keeping things organized.
If you’re buying a business with a lease, the devil is in the details, and those details are usually hidden somewhere in the fine print. Things to look for:
Don’t just skim. Read carefully. And if the lease reads like it was written by Tolstoy, bring in an attorney.
Let’s be real: landlords hold a lot of power in these transactions. Some are cooperative partners. Others…see a pending sale as their chance to “renegotiate” (translation: raise rent).
That’s why buyers should:
Because nothing says “deal breaker” like a landlord who refuses to approve your lease transfer.
Here’s something most buyers don’t realize until it’s too late: lenders scrutinize lease terms almost as closely as your tax returns.
Translation: If you ignore the lease, your financing could vanish faster than free pizza in an office break-room.
Leases and real estate aren’t DIY projects. You need:
It might feel like an extra cost up front, but compared to losing your deal (or overpaying for bad terms), it’s the best investment you’ll make.
When buying a business, it’s tempting to focus only on the numbers, revenue, expenses, profits. But the real estate side of the deal can be just as important.
Remember: you’re not just buying a business. You’re buying the right to keep it in the space where it succeeds. And that makes landlords, leases, and property terms some of the most important details in the deal.
Pro tip: Don’t fall in love with the business until you’ve made peace with the lease.
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