Are you considering turning your love for coffee into a reality? In today’s world, 63% of young people want to start their own business. So, why not go for it? It is quite the intimidating process; however, it is achievable. Sure, you have to develop a business plan and the delicious coffee you’re going to sell, but do you know what the most important is? The answer: the space. In order to run any successful business, you’re going to need the perfect commercial real estate space to operate. One of the fastest growing industries in Chicago is small coffee cafes. In order to survive in this fast paced industry, there are a number of things that you must look at and consider:
1. Is the space big enough the serve the goal of the business: Can you see your business growing and flourishing in the environment? It is always important to determine if the potential space can contain all of your equipment, products, and projected clientele.
2. Is the space affordable: Are you going to be able to afford the space? Think about whether or not the space will make or break your business. You want to have the perfect balance between spend and return on investment.
3. Is the space owned by someone you can see yourself doing business with: Is the landlord fair and ethical? Always make sure you can have a working professional relationship with the person that owns the potential space.
4. Is the space in a part of the city that will draw in potential customers: Is the space located in a hip or heavily populated area of the city? You always want to make sure you target a good audience of people.
5. Is the space under a fair, negotiable lease: Is the lease something that makes sense to sign? Is it legal and fair? Always pay attention to the detail in the lease.
There are many notions to think about when you’re planning to open your own business, and it is vital to ask all the right questions when considering a space for your business. You may even consider looking for help when you’re searching for commercial real estate. Don’t be afraid to make the process easier.