Some time back we told you a bit about the gentleman building The Gents Place in Chicago, Peter Terracina. In this article we’ll give you some insights into his latest progress and this stage of his experience as part of The Gents Place and Elevated Brands.
Peter is excited to be in the final stages of lease negotiations with the landlord in Chicago. While we understandably can’t release the name of the location, it’s definitely in an up and coming Chicago neighborhood with exciting brands already in position nearby. “To be honest, I’m happy to be as busy as I am at the moment.” Peter shared that prior to major progress on lease negotiations there was simply a limit to what he could do. Now that the negotiations are at an advanced stage, he has a lot to get ready for.
Once the lease is signed, the landlord will go into the property for a period of 60 to 90 days to ensure that the space meets all the minimum specifications laid out for a Gents Place location. After that, Peter will get the keys and the buildout of the space will take anywhere between 8-12 weeks. With the current progress in lease negotiations, that means that the Chicago space will probably open in Spring 2018.
“What I’m witnessing now is the power of the franchise model. Every week I am in contact with a minimum of 7-8 people from the Elevated Brands office, receiving advice, assistance and guidance on how to tackle the long but exciting list of things to be completed. In a certain sense I understand that they are there to work for the franchisees, but I can’t help feeling like a colleague in a positive and familial atmosphere.” Peter notes that it would take many resources, with an expertise in a wide variety of fields, if he were left on his own to deal with the things that the team at Elevated Brands deals with. Because of this, he says he is even more convinced that the franchise model was the best opportunity for him.
“I’m getting my loan lined up and requesting bids from architects and contractors, and I have to be honest, I’m really excited at the moment. I’m not saying it’s the finish line yet, but it’s definitely close to the end of the beginning.”
There is lots of impressive growth happening at The Gents Place. We will keep you updated on this pending Chicago opening, along with the other nearby locations that will soon be in the buildout phase.