Starting a new business can be an exhilarating time. Perhaps this has long been a dream of yours, or maybe it was just a split-second good idea, either way, you’re looking forward to the future. But even though the future may be bright, there’s a lot of hard work required to achieve that future. At Tomarchio Enterprises, our team of realtors has been helping small business owners in Maryland for years and wanted to go over some of the basics of store rentals for new store owners.

Make Sure You Have a Business Plan

Once you’ve got things set up in your new store, you’re going to have to start paying your bills, something that can be hard to do without a steady stream of income. Before you open your doors, and even before you choose your location, you need to develop a plan for how your business is going to operate and how you’re going to turn a profit.

Ensure You Completely Understand the Terms of Your Rent

No two locations are the same, and the same can usually be said for most rental contracts. If you’re not experienced with real estate terms, then understanding your contract can be impossible. If you’re working with a Maryland real estate agent, you’ll want to go over the contract with them and have them explain any terms you don’t recognize. Failing to know your contract when you first sign it can lead to some serious hiccups down the line.

Know How the Premises Can Be Used and What Alterations Can Be Made

Different locations and storefronts are permitted for different things, which is a big consideration. If you’d like to apply for additional permits, this is going to cost you, and you’re not guaranteed you’ll get them. You also need to know what kinds of alterations and renovations are allowed. Some locations won’t allow you to make any serious alterations, so be sure to talk to your realtor about this beforehand if it’s something important for your business.

Work with an Experienced and Trusted Real Estate Company in Maryland

No matter what kind of business you’re looking to open, we know we have the location for you! At Tomarchio Enterprises, we’ve worked with small and medium-sized businesses from many different industries. We have the perfect storefront for your business. Get into contact with a member of our team today.