Food truck lot concept
I'm considering leasing a lot from an owner for the purpose of renting the space to food truck vendors. It is a private lot in a good residential area; lots of other businesses around like coffeeshops, grocers and salons. The area is 83' x 48' so I figure I can park 6 or 7 food trucks on it. It has been used as a profitable food truck park in recent years.
Can anyone with experience with leasing to food trucks tell me about contract terms with them? How did you negotiate rental rates? How did you incentivize vendors to sign and stay? What risks did you have to deal with?