Thread: Rent

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    Rent
    I have a simple question about rent.

    Would you rather choose a cheaper rent space with lesser foot traffic or a more expensive rent space with more foot traffic?

    Your suggestions and recommendations would truly help a lot. Thanks guys!


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    If money allows and the price difference is not really big I'd have to go with the more expensive rent space. The more people go by your business the better. More customers, more money and more word of mouth marketing.

    One thing to watch though is the type of people that populate the area you open shop in. Why? You need to make sure you're selling the proper stuff to the proper people. If say, students, make the most of the foot traffic in your area I see no success in selling houses, for example. They can barely afford schooling, buying a house is out of the question. But sell cheap food, drinks and other stuff the students are interested in and you'll find that your business is booming.


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    Quote Originally Posted by alec View Post
    If money allows and the price difference is not really big I'd have to go with the more expensive rent space. The more people go by your business the better. More customers, more money and more word of mouth marketing.

    One thing to watch though is the type of people that populate the area you open shop in. Why? You need to make sure you're selling the proper stuff to the proper people. If say, students, make the most of the foot traffic in your area I see no success in selling houses, for example. They can barely afford schooling, buying a house is out of the question. But sell cheap food, drinks and other stuff the students are interested in and you'll find that your business is booming.
    Yes!! All of this is great advice.
    I agree it depends what you're selling.


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    I suppose it would depend on how much more foot traffic you would gain by the larger space. I think that the more expensive way might be the way to go if it will get you more sales in the long run. Either situation would be a risk.


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    It depends on what kind of business it is. Some kinds of businesses don't require to be in the immediate shopping center.
    For shops, it's better to be close to other shops and have more foot traffic.


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    to choose more expensive rent space with more foot traffic is bettter than the cheaper rent space with lesser foot traffic



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    It depends on the nature of your business, presence of competitors and how much is your capital. Certain businesses run on appointments (Eg. Bridal studio, Spa, etc) so lesser foot traffic doesn't affect as long as it is still pretty accessible.


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    Location is a key prime factor to consider when you are starting a business.
    It would depend on whether your business is driven by customer traffic.
    Another suggestion would be to do a cost vs benefit analysis to conclude whether paying an expense rent space is worth the cost.

    Sincerely,
    http://www.madanca.com
    Madan Chartered Accountant


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    For me, I would rather choose a cheaper rent space with lesser foot traffic than more expensive rent space with more foot traffic. It will lessen my time to go to my work or school. And i can save my money.


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    Yeah, there is no need for you to spare money on something like that. The more people would come by, the more money you will get. So if you had any problems with the rent increase form, then you definitely need to contact Royal York Property Management. This way you will get professional help to solve most of your rental questions.


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    Last edited by Brownii; 11-21-2020 at 11:51 AM.
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