Converting a High St store to an Indoor Market, where to start? Is there demand?

[BigTimeTrader]

Good morning,

I own a High St property (12000 sq. ft) from which I run our retail shop and currently have two tenants.

I would like to decrease the size of my shop and convert some (or all) of the floor space into an Indoor Market or similar.

Any ideas on how I would start researching this at all?

Has anyone done this before or been involved in a similar project? A few other traders I speak to are always unhappy, or put off coming to the High St, due to the high costs - rent and rates.

Thanks.

(I am in Essex)

 

[deniser]

I would start by speaking to the Council to see if this is something they might give you planning permission for before you do anything else.

 

[jimjamuk1]

I think it's a really great idea giving lots of entrepreneurs the chance to have a business. I'd check though with your local council etc re the planning.

I genuinely hope that this works as its a brilliant idea

 

[BigTimeTrader]

Thanks for the input thus far, keep them coming.

I will speak to the council and see what their take on it is, they also might have some new suggestions.

Another idea could be just reasonable size floor space/ unit within my store which I lease out on a rolling short term contract. This could give others the platform to test products or services face to face with the consumer.

 

[BigTimeTrader]

Furthermore, how would you go about getting research/ feedback on this to try and confirm there is a demand?

I was thinking: notice in shop windows, tills, posts on community websites, small advert in newspaper? Anything else?

 

[deniser]

Try Concessions

 

[vvaannmmaann]

"Pop up" shops ?

 

[Gecko001]

Get an architect or an architectural consultant who is familiar with commercial work.

 

[BigTimeTrader]

Thanks again people, I am starting to put the feelers out locally and will see what reaction I get. If you have any other ideas then please keep them coming as it is very much appreciated.

 

[SweetJo]

I looked into renting one of those units before I got my shop. The terms and the rent seemed good, the only thing I didn't like was the places I looked at seemed dated and had a cheap feel to them. If you do go ahead make sure it feels nice and modern. The signage outside of the buildings I went to didn't seem to have changed since the 80's :redface: Of course you will be starting from scratch so it will be easier to make it look good. Good luck, I hope it goes well. I think there does need to be more places like that

 

[Socio South West]

"Pop up" shops ?

I saw a couple of places on major streets in London that were open for 'pop up shops' on a first come first served basis - open plan space just carved up for those that want it.

Seemed to be quite busy, and an interesting mix of small businesses given the chance to get going.

 

[ashbash]

Quite a few craft shops and antiques markets work this way, with stalls/units and display cases for rent. Some have cashier or manager to run whole thing, others have stall holders running their own concessions.

Depending on where you are and what your local customer base is like, this can be a worthwhile business as you are covering costs with rental, and the risk is with the stall holders. Many artists and craft makers are desperate for reasonable display space.

 

[Bob]

Have you looked at any of the InShops indoor markets? This is one of their markets. There is one in Chatham although it is a bit rundown

 

[JonathanSEO]

Would you even need planning permission for something like this as its already a retail unit?

One set of business rates on the premises too but 50 market stalls

 

[BigTimeTrader]

thanks everyone, spoke to council and planning permission would not be required as usage (retail) will stay the same so providing we do not start external building works which would have an impact on the frontage then all is ok.


"pop up" shops have had quite a bit of flair recently thanks to the Mary Portas "save our High St" action. Possibly some councils have gov. grants to help generate this.

We were thinking more "market / crafts stalls" - something permanent which fits in well with the High St and the regular consumers of the town, something beneficial to the users and shoppers would perhaps have more longevity?

anyway, most grateful for the inputs and links - keep them coming!

 

[UKSBD]

What I would say is be very selective about who you allow.

Nothing worse than going round these types of places (usually crafty/gifty/antique) and seeing unmanned stores.