Concession shops within a larger retailer

Discussion in 'General Business Forum' started by keepitsecret, Jul 15, 2013.

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  1. keepitsecret

    keepitsecret UKBF Contributor

    287 23
    Hi Guys,

    I'm looking for some advice or even some first hand experience of dealing with potentially owning a concession shop within a larger retailers store?

    We have not yet approached any type of retailers but I'm guessing the way it would work would be a monthly rental of space within the shop itself?

    I look forward to hearing of any experiences or advice on such a venture.

    Regards
    Mark.
     
    Posted: Jul 15, 2013 By: keepitsecret Member since: Nov 26, 2008
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  2. mhall

    mhall UKBF Legend

    2,520 1,120
    plus a percentage of your sales usually
     
    Posted: Jul 15, 2013 By: mhall Member since: Sep 8, 2009
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  3. Stevie Wonder

    Stevie Wonder UKBF Contributor

    93 19
    We have a small concession within our showroom.

    It's a good idea for a site which already receives footfall and will be low in overhead.

    Points to consider; you can only use the opening hours of the larger retailer, be careful with your security in terms of stock, access to money etc, get a good broker to do your insurance.

    In my experience a retailer would be happy to let go some unused space and have somebody contribute to their overhead.

    There are loads of things to consider, just think about how the day to day operations will work, and are you going to tread on the toes of the main retailer? In our case the concession has a display with literature etc but no deliveries are beings made to the premises ( all go direct to their customer ), sorting little things like that will make the transition smoother as you establish yourself.

    Remember this isn't quite like having a landlord because in this case you are also working alongside them!

    Feel free to pm me if you have any questions about our setup.

    A good thing to also remember when discussing your rental is that you are not just paying for space, there is also; the use of their facilities, car park, rates, water rates and other points to take into consideration.
     
    Last edited: Jul 20, 2013
    Posted: Jul 20, 2013 By: Stevie Wonder Member since: Mar 5, 2011
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  4. John_Orcus

    John_Orcus UKBF Regular

    155 56
    If dealing with any of the big boys you'll need plenty to tide you over - some of them insist all takings go through their till, and they hold on to it for a couple of months after deducting all the rent etc from it.
     
    Posted: Jul 22, 2013 By: John_Orcus Member since: Nov 19, 2010
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