5 Advantages of Non-Mall Locations for Businesses
For most businesses, the ultimate site location is the mall. If your business has a branch located at the mall, the immediate thought or reaction of customers is that your business must be reliable and flourishing big time.
There are really good reasons why in-mall locations are in demand. First, foot traffic is extremely high. You need not worry about customers seeing your brand and buying from your store because the likelihood is there are always people coming and going.
Second, the security is established since malls are almost always well-guarded by excellent security systems and well-trained personnel. Finally, in this time of pandemic, the malls have become more accommodating in terms of rental discounts.
However, looking at non-mall locations also opens up unmissable advantages. Here are five reasons to go non-mall:
1| Longer or more flexible operating hours
Businesses in non-mall locations have the liberty to set their own operating hours as long as they are following the local community protocols. Meanwhile, malls strictly abide by their open hours and businesses located at the mall have to follow or adjust their time and operations accordingly.
2| Cheaper rent
For a kiosk size business, the rent could be as low as P10,000, or even P5,000 to P6,000 in some provincial areas. Moreover, there are usually no other additional fees on top of the rent charges when you go for non-mall locations. This means that businesses opting for non-mall locations can save up in terms of rent.
3| More lenient on approvals
Non-mall locations are usually faster when it comes to approving rent applications. Some businesses can even open their store as fast as two weeks from the approval date. This allows businesses to immediately start selling their products and serving their customers and the community.
4| Flexibility to have multi-brands in one store location
If your business is focused on food, you can sell various brands aside from your brand when your store is located in a non-mall location. You can also do this if your business is into retail or service. Including other brands in your store that will complement your brand can increase income and invite more customers.
5| Easier accessibility for deliveries and for the community
Nowadays, delivery is the first and best option for most people when it comes to buying food, items, and more. When businesses opt for non-mall locations, they make it easier and more convenient for delivery riders and the community to access their store.
In-mall or non-mall?
If you are looking for a location for your franchise business, you have the option to go for in-mall or non-mall locations. Both have their own benefits, but both also present some challenges.
The best thing to do is to look at your business and determine which location—in-mall or non-mall—will be the most feasible and will give the most benefits to your business.
Sam Christopher Lim is the CEO of Francorp Philippines; Co-author of 12 Strategies for Franchising; President of U-Franchise Sales & Management; Chairman for ASEAN Integration of the Philippine Franchise Association; and Chairman for ActionCOACH Philippines.