If you’re interested in putting up a business inside a mall, the first thing that the malladministration will ask you to submit is the
Letter of Intent (LOI)
.A Letter of Intent is not a document we often see that’s why a good number of people don’tknow what to write inside it.Some might also ask, how should it be written? Or, is there a correct template or layout for making a Letter of Intent?Before I give you the answer to these questions, let me first tell you what a Letter of Intent is.According to Wikipedia:A Letter of Intent or LOI is a document outlining an agreement between two or more parties before the agreement is finalized. The concept is similar to the so-called heads of agreement.Such agreements may be Asset Purchase Agreements, Share Purchase Agreements, Joint-Venture Agreements and overall all Agreements which aim at closing a financially large deal.That really sounds so formal, don’t you think? However, there’s really no reason for you to be afraid of getting your LOI wrong.Although it does usually resemble a contract, it is most of the time,
and is justissued to initiate a formal business transaction.For renting or leasing a space inside a mall or other commercial space, a Letter of Intentwould contain the following information:
A statement saying your intent to lease a space inside the mall.
A description of your business including it’s basic concept, the business model it
follows and a brief background and history.
A list of your products and services which should include pricing,merchandise
packaging design and a description of your target market.
Your space, utilities and manpower requirements including the types of equipmentyou’ll be using and the number of employees you’ll have.
If there’s any, it would also be good to show pictures of your other branches or stores.
Your contact details and the best schedule for you to have a meetingBefore writing your Letter of Intent, it might also help to you
ask the administration if theyhave an LOI template
that you can just follow. They could provide samples that was