carmencs  /   February 8, 2024

Expert’s Advice for New Business Owners in Chicago

If you are a startup or already an established business looking to expand in a different area, here is some advice from our expert real estate consultants at CARMEN Corporate Real Estate. In this blog, we’ll discuss:

  • Taking Care of Your Space
  • Interior and Exterior Looks
  • Business Protection via Insurance
  • Treating Everyone Equally
  • Building Community Connections

1. Taking Care of Your Space

As a food or dental chain or retail store owner in Chicago, it’s crucial to discuss how to handle maintenance and renovations during your lease. Who’s responsible for regular maintenance? Or who can handle it more efficiently without making mistakes?

Some aspects of your real estate portfolio might seem little, but they can impact your operation cost. Like replacing old windows, or any other renovations. Clarify if it’s on the landlord or the tenant. Remember, any renovations might need the landlord’s approval, and they may even have a say in choosing the contractor.

2. Look Matters – Outside and Inside

Know what you’re responsible for. Figure out who takes care of fixing things and who pays for it. If anything about the exterior or interior is unclear, ask. If you’re not sure, consider a professional consultant like CARMEN Corporate Real Estate. It’s like teamwork – everyone needs to know their job.

NOTE: It’s not just about signs; it could be parking spaces, flower beds, porches, or even window displays.

If you are a tenant, ask before changing these things inside or outside the property. Furthermore, if you want to paint or add decorations, you should ensure permission. Landlords might have some rules, and it’s essential to follow them.

Sometimes things break or need fixing. It’s a good idea to save some money, just in case. So, if something happens unexpectedly, you’re ready to tackle it without worry.

3. Protecting Your Business – Insurance Talk

Regarding insurance, commercial leases usually demand more than residential ones. Be clear on what type of commercial insurance you must have. If the landlord has insurance, determine if you need to cover the premiums during your lease. It’s all about making sure your business is well-protected.

The right type of insurance serves as a shield that protects you and your business. You can trust our experienced lease consultants at CARMEN Corporate Real Estate to choose the best option for you.

Secondly, a neat shop is a safe shop. Regularly check for any hazards and fix them. It could be a broken door lock or anything else that might put your security at risk or even damage your reputation in the town.

4. Treating Everyone Equally – ADA Compliance

As a business owner in Chicago, you must adhere to the “Americans Disabilities Act (ADA)”. This means you can’t discriminate against people with physical or mental disabilities. Your lease should include a clause ensuring that you always comply with the ADA.

This includes not refusing service or denying access based on disabilities. It’s about making your place welcoming and accessible to everyone.

5. Being a Good Neighbor – Community Connections

Connect with your neighbors. It’s super important for your business to be a friendly part of the neighborhood. Host events, join local groups, and be a positive presence. Happy neighbors mean happy customers. What’s more?

  • Keep the noise down. Make sure your store isn’t too loud, especially if it’s near homes. Nobody wants loud music or machines disturbing their peace. Let’s all be good neighbors.
  • Support local causes. Get involved in community projects or charities. It’s a fantastic way to show that you care about the community. Plus, it feels great to give back.

In Conclusion

In conclusion, taking care of your business space is essential in Chicago. You need to team up with your landlord and make sure everything is clear, from maintenance to renovations.

Knowing your responsibilities both inside and outside, is crucial. If you need help, consider professional consultants like CARMEN Corporate Real Estate. We can play a crucial role in making your business shine.

By combining the strategies mentioned above, you not only protect your business but also become a valuable member of the community. Your business in Chicago can truly be a place where everyone feels welcome, and success follows.