Denver Business Attorney Elizabeth Lewis, MS, JD Assists Retail Store Owners
As every store owner knows, retail is a very competitive space. Each year, many retail stores end up closing their doors due to economic pressures and other factors. Facing legal issues can make the ongoing viability of your business that much more challenging. Elizabeth Lewis, your Denver business lawyer, guides owners on how to get a retail operation up running and also provides ongoing assistance with all aspects of business law to help small business owners maximize their chances of success. Having access to the expertise of a skilled Denver business attorney who has the best interests of your small business in mind is very important.
Establishing Your Retail OperationIf you are opening a new retail store, it is critical that you choose the proper entity type for your business. Will you operate the store as a sole proprietorship, LLC, partnership, or corporation? Having guidance from a business lawyer can help you choose wisely.
- What licenses do you need to obtain?
- Are there zoning restrictions you should be aware of?
- Does the property need to be inspected?
- Do your employees need any certifications?
Reviewing Contracts from a Business Law PerspectiveFor most retail stores, one of the largest expenses is the cost of their lease. Consequently, it is critical that owners who lease space analyze every provision of their rental agreement before signing or renewing it. And, it can be very helpful to get an outside perspective. Identifying an opportunity to negotiate even a small amount of savings can be a significant advantage, especially over the life of a lease. Ensuring that there are no hidden risks to the business within the legal verbiage of the lease is also crucial. There is a big difference between a fixed-rate lease, a triple net lease, and a modified lease. There is also a big difference between “repair” and “replace”. If you don’t know the difference, it could be thousands of dollars over the term of you lease. Purchase agreements and bills of sale are another area where guidance on business law can give your small business a competitive edge. It is important to ensure that the terms of these kinds of agreements are favorable to your company, both financially and in terms of liability. Failing to do so can put you at a disadvantage in your industry. The rate and other provisions you sign off on in your wholesale agreements can also have a significant impact on your profitability. Elizabeth can review all of the different types of contracts and agreements you are a party to and provide feedback on any changes that should be made before you sign.
Documenting Relationships with Employees and Service ProvidersAs a small business owner, some of the most important relationships you have are with your employees and service providers. Creating clear, concise employment contracts can help eliminate any ambiguity about employee roles and responsibilities and provide a framework for your interactions with staff members. This includes clarifying their responsibilities when they are performing work on your behalf, since their actions can result in you and your business being liable for any damage or injuries they cause. Similarly, it is important that your dealings with service providers and independent contractors are clearly defined and agreed to in advance of any transactions. Without the protection of a service agreement or contract, you are at risk of incurring significant losses or legal liability. And without knowing if your independent contractors are truly independent contractors, you may incur personal liability for issues even if you have a LLC or corporation.
Helping to Position Your Retail Store for Success
Denver business attorney Elizabeth Lewis has extensive experience in helping retail store owners launch their businesses and stay on top of legal issues moving forward. Whether you have a long list of issues you want to work through with her or just the occasional question, knowing that she understands your business, your goals, and you as a person can enable you to move forward with confidence.
Contact Elizabeth today to learn more about the services she provides and how they can give your retail store a strategic advantage.
Multiple Ways to Serve You
The Law Office of E.C. Lewis, P.C. understands that not all business owners can take the time out of their busy schedules to come to an office, appointments are available by phone, online, and through video-conferencing for those individuals who are on the go. Contact the Law Office of E.C. Lewis, P.C. today to schedule an appointment!
Do you use contracts with evergreen clauses? (Evergreen clauses being those where a contract automatically renews if neither party cancels it within a certain amount of time before the end of the current term.) If so, changes came into play at the...
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Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
501 S. Cherry Street, Suite 1100
Denver, CO 80246