The One Financing Risk Never to Take When Starting a Business: $50-Million-A-Year Restaurant Mogul
Author: Kerry Boyle
In an article published on June 2, 2017 by CNBC.com, Kerry Boyle offers guidance to individuals who are considering certain financial risks when starting a business. The article details that individuals should structure their business wisely and bulletproof leases, such as negotiating with your landlord to limit the term of your personal guarantee. Boyle states, “For example, on a five-year lease, ask for what’s called a burn-off, where your personal guarantee will expire, say, after 2.5 years.”
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