In case you are planning to take shopping mall leasing and eager to know what aspects to take into consideration then you are at the right place. In the following sections we will try to explain various things which will help you in finding the place to take on lease and avoid future problems.
Factors Affecting Selection of Location
One of the steps you need to take is to request a pro forma copy for the lease and go through it thoroughly to check for any caveats it may have. Some of the other aspects you should keep note of include:
- Make sure the mall space for lease is in a safe location where customers will not have inhibition in going to.
- Secondly mall leasing will become easier if you choose a location which you consider as your target market. For this you will have to figure out where most of your customers are.
- Another thing which may seem to be counter intuitive at first is to rent a space where your competitors are also located.
The reason for doing so that you will have the assurance that people interested in your product will be close to your location. This is particularly beneficial for any new business with not so good customer base.
- When talking about shopping mall for lease, you should try to find a location where other complementary or compatible businesses are also located.
As for example, coffee shops close to a restaurant, which ensures customers can have dinner as well as go for a coffee if they like.
- You also need to make sure the mall is not in any remote location where it would be difficult for people to reach. The place should be easily reachable by using means of public transport.
Factors Affecting Monthly Rents
Let us now check some of the main factors which will have a role to play in how much you will have to pay as your monthly rent for the mall space.
- If it is in prime location then rent will be high.
- In case your store is next to a big brands store like support Nike then expect higher rent.
- For longer term the rate will go down and vice versa.