posted on August 26, 2001 09:53:30 PM new
Hello, all!
I am looking at three different locations to put a video store. Please let me know which one you would rather go to ... I am hoping your opinions will help me choose. All three locations are in the shopping section of my town.
#1 Plaza location ~ anchor is a discount store (not Wal-Mart). There are speed bumps every 30 feet or so to slow the traffic of teenagers who each nite drive thru over and over again. Most stores in this plaza (but not the anchor) close around 6 pm. Behind this plaza is a neighborhood. Large parking lot ~ easy on and off the major road, but it sets down a bit. Not too much traffic. Well lit. It is poorly maintained.
#2 Brand new plaza ~ major traffic. Anchor is a major discount drug store. No speed bumps - no kids. Lotsa parking. Well lit. Congested traffic, but there are stop lights to help. It is well maintained.
#3 Small plaza - I could be considered the anchor. Nice parking lot. Easy on and off the major road, yet it is about a block from a good sized plaza. Well lit. No kids hanging out. This plaza is in a neighborhood. It is well maintained.
This store will have good enough bargains to keep you from the major chains and get you to rent from me. Which location would you prefer?
posted on August 26, 2001 10:00:30 PM new
Hi Becky I would narrow it down between the two latter choices mainly so you won't have the headache of dealing with a poorly maintained shopping center. Plus, that's a huge turn off for a lot of people because even if it's not your fault it will still reflect on you.
Between the latter two choices I'd probably go with the one that has the large anchor store if it's well established. The idea being that you'll get some benefit from their advertising as they'll help draw the customers to your area.
posted on August 26, 2001 10:01:49 PM new
I would go with #2.
With #1 you'd always have to worry about maintenance. Also, there's the security & business factors in that you say most of the other stores close at 6pm.
With #3 you say *you'd* be the anchor. A privately-owned video store just isn't a big enough draw to a strip mall or plaza. Such a plaza needs something to bring in a lot of business & there'd be a problem with other small businesses failing or leaving due to lack of business, leave vacancies. Never a good thing.
posted on August 26, 2001 10:04:14 PM new
I'd go for #2. I usually try to kill 2 birds with one stone when going to the video store, which usually means picking up necessities along with the flicks. So it help's to have stores there along with the video place. Also, parking is ultra-important...I normally only rent videos when the little ones are with me and I like to park quickly and not have to walk too far with them through the parking lot.
posted on August 26, 2001 10:12:11 PM new
I did leave out one part ... sorry. I am not looking to draw the people there ... this business plan virtually guarantees they will come. I just want to know where they will feel comfortable coming to rent.
I know I will be just an Independent Video Store, but I am adding a new twist to this industry. I cannot go into what the twist is yet, but as a person who has worked video since 1985 and who has been working on this project for the last year, I know the customers will come. Also, my store was nominated 5 of the last 6 years I was open as "Simply the Best" video store in our town and my store was held in high regard.
Thanks!
BECKY
Edited to add:
The rent at store #2 will be about 3 times that of store #3. The rent at store #1 is about $500 less than store #2.
Also, 3 stores are empty at location #1, location #2 has only one opening but is too new to rate, at location #3 the other stores have been there at least 5 years.
[ edited by MrsSantaClaus on Aug 26, 2001 10:46 PM ]
posted on August 26, 2001 10:14:03 PM new
Even from a "comfort" angle rather than a business one, I would choose #2.
edited to say: You edited while I was posting. Given the rent, then you must make a *business* decision rather than "comfort of shoppers" one. Still, unless you're gonna have naked carhops delivering the video to the customer's cars on roller skates, , being the anchor is a risk. I don't know where you live, but in my neck of the wood independent video stores only hang on by their finger tips--the "big boys" Blockbuster & Hollywood Video make sure to open up real close by to any independent & they are real tough competition to beat!
edited again cuz "Blockbuster" has only one "c"
[ edited by bunnicula on Aug 26, 2001 10:18 PM ]
[ edited by bunnicula on Aug 26, 2001 10:19 PM ]
posted on August 27, 2001 09:50:18 AM new#3 Small plaza - I could be considered the anchor. Nice parking lot. Easy on and off the major road, yet it is about a block from a good sized plaza. Well lit. No kids hanging out. This plaza is in a neighborhood. It is well maintained.
Especially if:
...Blockbuster & Giant Eagle Video are right across the street from location #2
Being only a block from a good sized plaza people will know about it. I'm probably an exception but I used travel about 5 times farther from my house to go to this independent video store than the close by blockbuster. I stopped though. My video store moved. Luckily it moved about a half block from my house! Recently a "hollywood video" opened about a block from my independent and is doing poorly because of the loyalty to the independent.
arttsupplies (webmaster)
ubb
[ edited by arttsupplies on Aug 27, 2001 10:30 AM ]
I just got off the phone with the owner of location #3. I will be going to see it in a couple of hours. He is very excited about the possibility of my coming there and has offered to help me in any way he can. It turns out he has only owned the plaza for 2 years and is planning to totally remodel it once he is done with the apartments. Also, he is willing to dramatically cut the rent for the first year - and let me out of the lease at the end of the first year if it does not work.
The consignment store is in a location that is 2400 sq ft that can be increased to 2800 sq ft if necessary but she is doing poorly so he said he would talk to her to see if she would be willing to move to give me the larger space.
I think in the back of my mind I knew where I wanted to be all along. See, yesterday morning in the shower I asked God to find me a place that would work for me that I could afford. That is when I found this one. The first time in the plaza I didn't even notice this space - this time I was drawn to it.
I never liked dealing with corporations - I prefer people, small business people like myself. Instead of being just another tenant, I can be someone who not only helps myself in this situation - but the other 2 stores, too.
I like that.
Please keep your fingers crossed for me - I am meeting him in a few hours
posted on August 27, 2001 02:22:07 PM new
Best of luck to you, Becky.
My vote is with #3.
If you really want to have two options, why not ask at #2 if they are offering concessions to rent the open spaces (rent discounts, money towards build out, carpeting, signage options,etc).
With #3, I would definitely get the part about the one year opt out in writing.
Crime/shoplifting/etc is about the same in locations 2 & 3, correct?
How do you think the "remodel" will effect business & parking?
Speaking of parking, are the lots well lit?
Is there comparable close parking for rainy night rentals?
Sorry for all the extra questions!
Too many years in retail!
*If you build it, they will come*
Wishing you many more years as ~*~Simply The Best ~*~
Keep us updated!
edit:got too wordy!
[ edited by zoomin on Aug 27, 2001 02:24 PM ]
Given the rent, then you must make a *business* decision rather than "comfort of shoppers" one. Still, unless you're gonna have naked carhops delivering the video to the customer's cars on roller skates, 
, being the anchor is a risk. I don't know where you live, but in my neck of the wood independent video stores only hang on by their finger tips--the "big boys" Blockbuster & Hollywood Video make sure to open up real close by to any independent & they are real tough competition to beat!