SBDC Template

Blog

Top 5 Business Leasing Tips

Monday, February 15, 2016
by Kat Rico

Leasing property is confusing, but it gets exponentially more complicated at the business level. At one point or another, many businesses are likely to need to rent property, either for a retail storefront, manufacturing or for storage. What do you need to know? What should you expect from your landlord? Here are five great tips to help you get started asking the right questions when it comes to leasing property as a business owner:
1. Everything is negotiable - This includes everything right down to the tenant finish costs; can the landlord front the cost for any finishing and add it to the monthly cost of the lease? It’s worth asking!

2. Find a real estate broker to represent your interestsThe landlord has a broker, but that broker is working for the landlord’s best interests. You want to have a broker working for your best interest. If you engage a broker, your broker has a fiduciary duty to you and only you. Worried that the landlord will not want to work with your broker? Actually, it’s the opposite; most landlords prefer to work with someone (like a broker) who already speaks their language.

3. Think about your timeline, now double itThese things take time! The days of 2-3 page leases are gone, most are more like 20-30 pages now. Along with a broker, it’s recommended that you retain an attorney to review and interpret the lease for you, so you know what you’re getting in to.

4. Location, location, location - Is the space you’re looking at good for its convenience or as a destination? If it’s for convenience, it’ll probably be easily seen from a major street and have ample parking and your customers will be going there for you. If it’s for a destination, your customers will go to the area as an attraction. Destination spaces tend to have a higher rent premium. 

5. Parking and pedestrian traffic - Does your lease include specific parking spots for your customers or employees? Is the parking in front of your business leased to another nearby shop? Clarify these details before signing a lease. Also, the city should be able to provide you with vehicles per day and pedestrian counts for the area you’re looking at leasing, but you have to ask.

Are you looking at leasing a space? Meet with an SBDC consultant to discuss what that means for your business before you make the leap! Schedule an appointment by calling 303-460-1032, or send us a request at:http://www.northmetrosbdc.com/consulting.

Deltech, Inc.

Tuesday, March 31, 2015
Deltech, Inc.
Owner: Mary Stevenson

Story written by: Chris McCloskey
Photography: Chris McCloskey and courtesy of Deltech, Inc.


Deltech Inc. designs and builds furnaces for the production of scientific products, from laboratory implements to semi-conductor components.

Deltech is a small, family-run company with a large impact. It began in 1968 as an engineering services company for the mining industry. The co-founders, Calvin L. Stevenson and Donald J. Drinkwater, were mining engineers. Deltech built its first furnace for Coors Tek, then known as Coors Porcelain. Their second customer was Los Alamos National Laboratories. 

Mary Stevenson, Calvin Stevenson’s wife, is the current president of Deltech and their son, a master’s-level mechanical engineer, is Deltech’s engineering manager.  Stevenson explains the company’s focus, “We listened to what the ceramist wanted to accomplish and what his processes involved, and then set out to design and build the furnace to help him do the job.” 

In the 1990’s, Deltech supplied lab furnaces for use in processing semiconductors and fuel-cell, biomedical, and fiber-optics components. In 2000, the company built its largest furnace for use in the manufacture of a composite mirror for the Jet Propulsion Laboratory’s F.I.R.S.T. project. Stevenson describes the most interesting product Deltech designed and built as a positive-pressure furnace for the National High Magnetics Lab at Florida State University.  Stevenson adds, “Deltech was the only bidder for this job, which is not uncommon.” Today, Deltech furnaces can be found at universities and laboratories worldwide.  Stevenson said, “The company’s best advertisement has always been the referrals received from its customers.”

As Deltech celebrates its 47th anniversary, Stevenson looks back on an exciting track record for leading industrial scientific manufacturing and learning how to translate their expertise into business success.

In 2007, the company’s accountant pointed out that Deltech’s high-end production and position in the competitive market were not reflected in the company’s profits. At that point, Stevenson attended a meeting of the Adams County Economic Development Council where she heard about the services of the Small Business Development Center.  

The North Metro Denver SBDC matched Stevenson with a manufacturing consultant who began working with her from the first meeting, providing specific ideas for a business plan to align the sides of engineering and accounting. The consultant was able to translate his years of experience working in manufacturing into innovative solutions for Deltech’s financial stability.  After fully utilizing this consultant’s production expertise, Stevenson was referred to a consultant who specializes in marketing. This consultant joined the effort to provide Deltech with insight on effective advertising, competition research, and market analysis.


Today, Stevenson describes the high point of the company’s progress as providing the next generation the ability to take over the business in terms of engineering education and experience, combined with a solid grasp of business finances and marketing. 

Deltech’s trademark, “We Build the Furnace to Fit Your Need” is stronger than ever.