As a new shop owner in downtown London, Jason Kenny is facing a long list of start-up expenses he needs to handle to attract customers to his Richmond Street store.
“There was a lot of fees for the signs and the permits,” said Kenny, owner of Vape All Inc.
He took over an existing business that was operating from a storefront on Richmond, just north of York Street. Shortly after buying it, he moved his retail shop to an empty storefront space just a few doors up.
The new location is better and bigger. However, this move has brought along new costs for updating the storefront and signage.
Jason Kenny purchased a vape business this year and moved it to a new storefront on Richmond Street. (Andrew Lupton/ )
For now, he has to rely on bright yellow printed signs to let people know he’s open for business. Kenny is also busy ordering a lit storefront sign, but that comes with a price tag of about $2,500.
‘”[The costs] could definitely stop someone from opening up a store,” he said. “Any kind of grant would help.”
The City of London is looking to support store owners like Kenny who are facing hefty expenses in turning vacant office spaces into thriving businesses.
For now, owner Jason Kenny is using this signage but plans to soon upgrade to a proper storefront sign. (Andrew Lupton/)
Currently before the council, the Vacant Commercial Space Fit-Out Grant would reimburse store owners up to 50 percent of their upgrade costs in previously vacant spaces, including signage, lighting, awnings and other enhancements. The grant will cover up to a maximum of $50,000. City staff expect the program-which improves upon other community improvement plan grants-to cost about $975,000 each year.
A city news release indicated that if approved, this program could support as many as 75 projects within the core by 2027.</html Aaron Bakker owns Dug Out Vintage clothing store which used to have a spot on Dundas Place before moving his shop last month over at Covent Garden Market; he also operates another location at Western University campus. Bakker feels these grants could provide some assistance but believes local entrepreneurs face major challenges in their area; regarding his own experience-he stated that upgrades made at Dundas Place didn’t meet all expectations. “The market has been a world of difference; it’s night and day here,” he said.
Bakker supports broader initiatives aimed at revitalizing downtown including offering free rent opportunities for startups-which would need backing from property owners.
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Storefront upgrades can surprise new business owners
Kristin Nielsen chairs the Downtown London Business Improvement Area. She mentioned that upgrading storefronts in new retail spaces often catches some new business owners off guard with its expense. “It can be one of the last things you consider, and it can be surprisingly expensive,” she said. Nielsen noted that promotion and awareness around these incentive programs are essential for their success. “Incentives like this are great if people know about them and know how to use them,” she said. “They have to be accessible and promoted.” The program will require some effort from the business owner; applying for the grant must be tied to any necessary city building permits. Additionally, any work submitted for funding will need two quotes provided by contractors. The applicant must also have at least two years remaining on their lease for that space along with other required documents; city staff will need to inspect the site before and after work takes place. Mayor Josh Morgan highlighted this incentive plan during his State of the City address as an approach toward filling empty downtown areas. London recently earned unwanted recognition for having more vacant downtown office space than any other city.A city news release indicated that if approved, this program could support as many as 75 projects within the core by 2027.</html Aaron Bakker owns Dug Out Vintage clothing store which used to have a spot on Dundas Place before moving his shop last month over at Covent Garden Market; he also operates another location at Western University campus. Bakker feels these grants could provide some assistance but believes local entrepreneurs face major challenges in their area; regarding his own experience-he stated that upgrades made at Dundas Place didn’t meet all expectations. “The market has been a world of difference; it’s night and day here,” he said.
Bakker supports broader initiatives aimed at revitalizing downtown including offering free rent opportunities for startups-which would need backing from property owners.
The incentive proposal goes before city’s Planning & Environment Committee Tuesday afternoon; if approved there-it’ll then move forward towards final vote set April 22nd!
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