Things that people often misunderstand about about opening a store in a department store.

Things that people often misunderstand about about opening a store in a department store.

If you are trying to search about a topic Renting space in the mall? In this article, many people have to think about the trading location. “Department store” Today we have compiled 10 things that people often misunderstand. About opening a store in a department store, let's read.

🔹 Requires a very high investment

It's the top idea. That makes the shop owner discouraged since he hasn't started opening a store in a department store yet. The matter of investment because I think that it must have a very high cost. which if the owner of the shop has a need and intends to open a shop in a shopping center but still worried about the investment with various expenses that will follow, suggest that the owner of the shop come to talk or consult with the department store first Because within the department store there is an area. and diverse locations The department store will help analyze Find a suitable space for your investment. It is not necessary to hold a large investment in order to open a shop. The main expenses that you will encounter, such as a 1-year contract, charge a security deposit of 3 months of rent. in which the insurance money will be kept by the department store When the contract ends, the contract will be refunded or the contract is 3 years, the security deposit is 6 months of rent. This is the criterion that most department stores use. Therefore, the shop owner should have cash flow for this part as well.

🔹 Marketing is difficult

Some shop owners may think that If you open a store in a department store Marketing can be difficult. But in fact, the department store will have a Marketing Support team to give advice. and help with marketing to increase sales for the store Both online channels such as websites, Facebook, Instagram, where shop owners can come to promote their own stores. and offline channels such as LED media, billboards, billboards inside the shopping center within the specified time

🔹If you want to open any store, just have money to pay rent.

Some people may have enough money and want to open a store in a department store and think about opening any store. In fact, the shop owner must survey the readiness of the brand profile of the shop. Making a Brand Profile is another thing that must be done. to be presented to the department store to consider first What type of products or services we sell, what are the strengths? what is the selling price How many square meters of area do you need? All required details must be clarified. Then the department store will consider our products. including considering where the area is suitable as the shop wants and look at the customer groups to match the type of store as well

🔹 Think that renting space in a shopping mall will only be rented.

The cost of renting a space for trading in a department store is not only the rental of the space. There are still many expenses that we should be aware of. Starting from common expenses The price varies from department store to mall. There is also a parking fee. Some may charge monthly. or some that may grant the right to park 1 car, other important expenses such as VAT (How much depends on each business), income tax, property tax For the most part, tenants will have to pay 12.5% of the rent, and there are also some department stores' agreements to ask for cooperation on the department store's event expenses. For example, the department store organizes various discount promotions. then ask us which is a merchant to join the list As a result, the shop may have to bear the cost of the reduced selling price as well.

🔹 There are many ways to contact to rent space within the mall.

Many people may think that we have to contact the mall directly only. In fact, contacting the sales office of the department store is good for us to be clear immediately. But in fact, there are many ways to contact for renting commercial spaces, such as contacting through a rental announcement website, which may be a private company that takes over a large space lease with a shopping mall. Or perhaps we may contact through an organizing company for a short time opening. to make more people know our products which some organizers have rented the space with the department store and have divided the shops to rent the trading area for a short time

🔹 You need to prepare many documents.

Many people hear later that the preparation of documents is complicated, but in reality it is not as chaotic as they understand. Certificate of business license, product information to open a shop , History of the shop, shop layout, shop floor plans, sketches of the shop. If there is a photo of the store layout that is provided as an example, it can be taken into consideration with the department store. 9. The investment in the mall is only renting space.

This is something that many people may misunderstand that if they want to invest in opening a shop in a mall, there is only a way to rent space to open a shop. But in reality, there are 2 types of investment in shopping malls, namely resale and agreement to pay a discount to the department store. From the normal price, about 20-30%, depending on what product it is. And the department store will check the sales to see how well our products are selling. If it sells well, it has the opportunity to continue trading, but if it doesn't sell well, most of the contracts can be cancelled. renting space is the general pattern that we understand There are different rental spaces depending on the size of the store we want to open.

🔹 Open a store in a department store

What many people think is that in department stores we have to pay for the rent which is quite high. and have to face many competitors The mall doesn't support anything, just eat our rent every day. Makes many people think that selling things in a department store is no different from selling stuff outside, just that inside the mall is the center of more people. But in fact, the department store itself has a strategy team, a marketing team, what you can see is various marketing campaigns, events. event Hiring actors and actresses as presenters

We will not encounter these matters if we go to open a store outside the department store. The fact that we think that the mall eats rent and does nothing is a misunderstanding. What department stores do is attract customers from all over the country to use their services. It also gives us the opportunity to sell more products.

🔹 Think that you have to open a large store only

People often misunderstand that department stores only accept famous brands. The investors may be just a small shop. may not be able to bring the shop into in fact The rental space of department stores is divided into 4 types: space for large stores.

1. Area from 50 sq m or more, rent is calculated in square meters. The price depends on each store.

2. Space for small and medium-sized shops Area from 15-36 sq.m., monthly rental fee

3. Locking products, booths and small kiosks

4. Area from 4-6 sq.m., monthly rental fee Sales booths in the promotion yard For those who want to take a booth Promote products in a short time, area 2-4 sq m.

🔹 There are complicated rules, regulations and regulations.

Another reason why the shopkeeper Still haven't decided to bring the shop to open in the shopping center. Partly because I think shopping centers have rules, regulations and regulations that must be strictly adhered to. which some people may think not yet ready to accept the rules at the shopping center Especially with stores that open Stand Alone before, which may not have regulations in some matters. Make some shop owners feel that they have more freedom. It does not have to be in the rules, regulations, for example, rules and regulations on safety. in terms of construction It is necessary to have a fire extinguisher. for safety already Opening a shop outside a shopping center requires a fire extinguisher.

and equipment in the same security But maybe no one will force The shopping center will have specifications that are detailed and must be followed. because if a fire occurs It might not be worth the damage that follows.

🔹Invesment in the mall is only renting the space.

1. Selling consignment, agreeing to pay a discount to the department store. From the normal price, about 20-30%, depending on what product it is. And the department store will check the sales to see how well our products are selling. If it sells well, it has the opportunity to continue trading, but if it doesn't sell well, most of the contracts can be cancelled.

2. Space rental is the general pattern that we understand There are different rental spaces depending on the size of the store we want to open.

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