Young Entrepreneurs are Awarded Start Up Funds

For the third year in a row, the Lake Zurich Area Chamber of Commerce sponsors the Young Entrepreneur Academy (YEA!).

A panel of investors from the Lake Zurich Area Chamber of Commerce (LZACC) sponsored program, the Young Entrepreneurs Academy (YEA!) recently awarded four businesses from YEA! a collective $5,154 They also chose Jason Krasavage and his business, Modern Media Conversions, to compete in the Saunders Scholars Bright Idea Competition in Rochester, NY. “He presented the best and his business plan was very solid," said Lynn O’Brien, investor panel judge. The awards were presented at Lake Zurich High School. Krasavage, 13-year-old eighth grade student at Middle School North will travel to the competition in May and compete against 30 other YEA! chapter winners by presenting his business idea. Scholarship money to Rochester Institute of Technology…

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Lake County Small Business Owners Get Growing

The College of Lake County's Illinois Small Business Center helping small business owners through ongoing workshops, new programs and expert advice.

For more than 25 years, the College of Lake County’s Illinois Small Business Development Center has been helping small businesses reach their full potential. The number of business it has supported is on the rise. Jan Bauer, Illinois Small Business Development Center director, said the grant-funded center provides confidential business advising and counsel in both English and Spanish, access to their resource library, interactive workshops and referrals and support in securing loans. The majority of people who seek out the center’s support are already in business. “Many are looking to grow their business," Bauer said. "We help with strategic planning, look at their marketing objectives, understanding the financial picture and how to make …

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Lisa Explains the Law

Don't Let Employees Steal Your Business

Competition is a fact of life in business, but you can prevent a key employee from leaving your company, opening up shop across town, and competing with you.

I own a company that sells and repairs tires (Yes, a woman is very able to sell and repair tires! Let’s not stereotype here). I have four employees and am concerned that one of my best employees might leave my company, open his own company, and put me out of business. He is really smart and our customers love him. Is there any way to prevent this from happening? — Sheila Hello Sheila. Touché!  This should be a concern for any business that has employees. Unfortunately, I have seen too many companies suffer financially because one of their key employees leaves the business and opens up an identical business or goes to work for a market competitor in the same vicinity. Yes, there IS something you can do to head off this problem. In the legal…

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Lisa Explains the Law

Operating Your Business as a Partnership – The Pros and Cons

I am starting a new business with a friend. Is a partnership the best way to operate the business?

Editor's note: Lisa Lehman is off this week, so we are sharing one of her columns from early 2011. Enjoy! My friend and I are starting a new business that we will both operate. We will equally share the profits. I think we should be a partnership, but am not sure.  What are the advantages and disadvantages of operating our business as a partnership?  — Jim Dear Jim, You didn’t mention the type of business you and your friend are starting. That will often impact the decision as to whether you should operate as a partnership, or some other type of business entity.   Today, I will only discuss the pros and cons of forming a partnership. In future columns, I will write about other types of business entities available to you and your friend, …

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Patch Picks

Here's a List of the Best Boutiques Around

Looking for a little something out of the ordinary to add to your wardrobe or accessories?

Every Thursday, Lake Zurich Patch will run a new weekly feature called Patch Picks, highlighting editor and reader picks of great local businesses, destinations, services, organizations, ways to spend a day off, and more. You’ll find useful lists to help you, your family, friends and significant others find the best places for everything from Sunday brunch to New Year’s Eve celebrations, pumpkin patches, date night destinations, florists, girlfriend nights out, kids party places, parks and more. Our list this week is of the best boutiques around: 1. Volle’s Bridal & Boutique, 53 S. Old Rand Rd., Lake Zurich, 847-438-7603, www.vollesbridal.com A family-owned bridal tailoring shop that’s also a great place to find prom dresses and …

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Lisa Explains the Law

10 Commercial Lease Provisions To Consider

Here are some of the important provisions in a commercial lease which prospective tenants should consider before signing the lease.

Lisa, I own a restaurant and found space in a large strip mall that I would like to rent. The owner gave me a lease to sign. Which provisions of the lease should I be particularly concerned about? — Brian Dear Brian, Well, sir, you have given me a tall order!  Commercial leases can be very complex, and this column is only able to skim the surface. But I welcome the opportunity to answer your question and explain some of the lease provisions that may impact your business and pocketbook.  I will address 10 aspects of a commercial lease that often cause financial and other hardships for tenants. I will only raise issues – their resolution will be a matter of negotiation between the tenant and the landlord.   Here's a “Top Ten” list for Brian…

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The Exercise Coach Poised to Flex Its Muscles

CEO of Lake Zurich-based personal training facilities plans new headquarters, franchise growth and launch of nutrition system.

At this time of year, lots of people are looking to keep their New Year's resolutions and lose some weight and get in shape. Brian Cygan is confident he can help them in a big way in only 20 minutes twice a week and he's got big plans this year. "Our passion is to help the average person integrate exercise into their lives," he said. The Exercise Coach is getting ready to flex its muscles in 2011, according to Cygan, who is CEO of the Lake Zurich-based chain of personal training facilities. First, the company will move its headquarters from 538 N. Rand Rd. to a larger location at 500 S. Rand Rd. The new location will house franchise operations and serve as a training facility for franchisees, explained Cygan. "We're excited about taking a …

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Veteran Stylist Launches Full Service Salon

Couture 360 offers women all-around pampering.

When you enter Couture 360, a new salon in Lake Zurich that opened its doors Oct. 28, the name's significance becomes evident. It's not only that the fashionably appointed 3,500-square-foot space is arranged in a circle, but that the salon is set up to take care of every aspect of a woman's appearance, from every angle, said owner Rose DePaola. "I've been in this industry for about 30 years," said DePaola. "I felt women need a place to do a total transformation." The salon offers a full line of hair, face, nails and body services, including therapeutic massage. There's a color bar. And there's a separate shampoo area DePaola calls the lather lounge, where clients get a head, neck and shoulder massage with every hair service. A veteran of …

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Wise Women Gallery Features Unique Finds

Shop gives artists a common place to display works year-round.

The works of more than a couple dozen local artists are on display and for sale at Wise Women Gallery and Gifts, a Rand Road business that celebrated its grand opening in October 2010. "There's a lot of local artists that are in the area that are extremely talented," said store owner Sue Briesch. "I've been in the arts all my life. I thought it would be an opportunity for people to show all year round." Artists who work in a variety of media – painters, photographers, potters, glass blowers, artists who work in fabric, jewelry – bring samplings of their goods to the 1,200 square foot shop. "They rent their spaces. They make a three-month minimum commitment. I take a percentage of what they sell," said Briesch, who runs the store at 91 S. …

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Ask Christy, the Career Coach

RIP: The Cover Letter?

Christy, I've heard that cover letters are a thing of the past. Can I stop sending them?

Thanks for your excellent question, neighbor. Some career coaches say that writing cover letters is a waste of time because hiring managers are too busy to read them. In my experience as an HR director, I would add that more than 90% of cover letters are irrelevant to the reader, egocentric and just plain boring. I stopped reading cover letters long ago until… The day when I was reading my 278th resume in a search of a mechanical engineer (Venti Latte extra shot please!) and a cover letter caught my attention. This cover letter shouted, "Call me, I'm a perfect fit for you." So what was so compelling about this letter? The cover letter: Here is an outline of an effective emailed cover letter.  Salutation Dear Mr./Ms. Last Name, (Take the …