How much to rent a retail store in the mall?

[Mar]

I'm not talking about peak season, just a regular month, is it calculated by square footage? I was thinking about having a retail space to import items and sell them. There isn't any retail competition for this market in Calgary yet so I'm exploring options. I was looking at Crossiron Mills but could change that if that specific one is crazy expensive.

[snowcat]

Why don't you call the mall you're interested in? I don't see your business lasting very long if you can't make a simple phone call.

To not be a total dick, I know Chinook is very expensive - your average smaller store is $15,000 to $25,000 a month.

[rx7boi]

I didn't know Calgary had a market for Transformers.

Good luck!

[Mar]

Originally posted by rx7boi
I didn't know Calgary had a market for Transformers.

Good luck!

You guessed it. I'm spending almost $1000 a month on it and so are at least 5 other people I know. We're already importing them from Japan for resale which is quite profitable but I think it could triple with a retail location. I was wondering if the space would be $1000 a month or $10,000.

[jdmXSI]

What if you started with a small kiosk so you are not hemorrhaging money until your location is made known and then move to a larger location once you get more established?

Good idea though!

[benyl]

Retail space is always rented by square foot.

You also pay property taxes.

Most malls will also charge a percentage of your sales. So you have to report your income and they will likely put a stipulation in the lease agreement that allows them to audit you.

[kenny]

Call up the specialty leasing person at each mall and inquire about their carts. Don't bother calling the big malls (Market, Chinook, South Centre, Cross Iron) as your business is unproven and they won't want to risk taking you in since their carts have waiting lists and all charge percentage rent.

Better idea is to see if you can get in at a farmer's market, North Hill, Pacific Place, Dragon City, maybe Marlborough Mall.

[TomcoPDR]

Wait for that New Horizon Mall to be built. Or once it's built, there probably be stores that offer consignment cubes. (you know those Ikea multi square shelves? there'll probably be stores that'll rent out per cube 1'x1'x1') Place your transformers there, it's locked up in clear door, let the store employees to watch the main store, when your item sells they give you your cut. IMO, from what you're selling, that's kinda all you need, a "foot" cube or two or three. As each doll gets sold, you go back to their store and replace, restock, redecorate your cubes.

[redblack]

What kind of transformers do you have for sale? Cost?

[Type_S1]

I don't see how you would ever make enough to justify a store in the mall. That's a lot of product that needs to be sold. 20k+ per month of transformers seems unlikely. I would go the online route or perhaps the flea market.

You could also get in touch with some of the toy vendors in Calgary and sell directly to them with a small mark up?

[loweg]

That's such a niche business that I would avoid the mall. There's only gonna be so much you recieve from passer byers.

I would go the opposite route. Something a little off the beaten path but accessible. Put all those saved rent dollars towards online advertising (boards, google ads). Build yourself a following from that location , then if need be to so something mall-wise. Leave your other location running, and do a small kiosk in the mall. Odds are your average mall shopper is shopping for something completely different then your hardcore nerdy hobbyist. Your margins for each product will likely need to be different for each as well.

Good luck!

[big A]

Originally posted by TomcoPDR
Wait for that New Horizon Mall to be built. Or once it's built, there probably be stores that offer consignment cubes. (you know those Ikea multi square shelves? there'll probably be stores that'll rent out per cube 1'x1'x1') Place your transformers there, it's locked up in clear door, let the store employees to watch the main store, when your item sells they give you your cut. IMO, from what you're selling, that's kinda all you need, a "foot" cube or two or three. As each doll gets sold, you go back to their store and replace, restock, redecorate your cubes.

I laughed when you called them dolls

[ExtraSlow]

Originally posted by Type_S1
You could also get in touch with some of the toy vendors in Calgary and sell directly to them with a small mark up?

I suspect you could sublease a single displace rack in one of the independent toy stores and do better that way. Having your own brick-and-mortar location for this niche business seems like it would eat all your profits.

[chathamf]

Unsure about prices but Northland Mall is literally empty and I'm sure a good deal would be had for retail space. With that being said I've seen tons of small businesses come and go there and I almost feel bad seeing a new one start up knowing they won't make it there.

Maybe try to cut a deal with a store that already exists and see if they can sell some of your product? There is a little nerdy comic book kind of store near the theatre at Chinook. May be the kind of place that could find a market for your product.

[Feruk]

Originally posted by big A
I laughed when you called them dolls

Isn't that what they are?

[sabad66]

Lenovo Yoga 3 Pro? I think that's going ot be my next laptop when they come down in price a bit.

Also, check out some of the MobileTechReview vids on youtube:
https://www.youtube.com/user/MobileTechReview

She does a really good job of reviewing laptops

EDIT: whoops, wrong thread lol

[flipstah]

I'd take advantage of the low-cost online store option. Be aggressive on online marketing and you're winning.

[riander5]

Originally posted by sabad66
Lenovo Yoga 3 Pro? I think that's going ot be my next laptop when they come down in price a bit.

Also, check out some of the MobileTechReview vids on youtube:
https://www.youtube.com/user/MobileTechReview

She does a really good job of reviewing laptops

lol wut

[ercchry]

strip mall: ~$2k
online: you do computer crap, so basically free
distributer: could run this out of the house, not as much profit margin, but ideally much more volume

[2Legit2Quit]

Time to hit up Dragons Den.