Imagine moving into a perfect location for your new yoga studio, and a few months later, a competing yoga studio opens just a few doors away. This would be a major setback.
There’s a solution: the “Exclusive Use” provision. Securing the exclusive right to offer yoga within the complex is useful for maintaining a competitive edge and attracting a dedicated clientele. That's exactly what my client Olivia achieved through lease negotiations for a cozy studio space in a suburban strip mall.
While often pursued by larger businesses, the exclusive use provision holds immense value for small independent businesses like Olivia's.
Drafting this clause involves meticulous attention to detail, including clear remedies for potential breaches. Through negotiation, we secured terms that included rent adjustments until the violation is rectified, as well as the option to terminate the lease if the violations persist.
Ready to unleash your company’s potential? Let's discuss how an exclusive use clause can empower your lease negotiations and pave the way for your business success.