A store in a mall has its pros and cons. You will have to know how to decorate a shop in a mall to take advantage of it. As everyone knows, opening certain businesses near another in the same sector is something that harms one or both. This may or may not occur depending on some factors that are not necessary to discuss in this article.
Given the constant growth in the development of shopping centers and increased competition in this sector, what decisions influence the investment in your complex to be highly profitable? Here are some tips to make the best decisions at critical points in the development of your commercial complex.
Consumer interest
Knowing the preferences and behavior of your potential visitors will help you plan attractive spaces for the public, with mixed offers such as anchor stores, cultural spaces such as museums or exclusive boutiques to mention a few examples. It is essential to conduct a market study of your potential customers. Some data extracted from Neuromobile show us general behaviors critical for the design of commercial real estate such as:
- The majority of couples visiting a mall spend 84% together.
- Their common interests are entertainment, promotions and technology spaces.
Remember that in the end, we expect the public to interact positively with space and obtain unique experiences aimed at loyalty.
Location
Finding an accessible location, with high density and limited offer will determine much of the success of the project, when choosing a site it is advisable to conduct a study to detect the areas of influence that we will have according to travel times and relevant sociodemographic variables such as age, socioeconomic condition to mention a few.
Procedures and licenses
During this stage all the permits required for the construction and operation of the work before the government are processed, some of them are subject to different regulations according to the delegation or municipality but in general, include:
Plans for construction licenses: The plans of facilities, structural and architectural plans at the basic level for the permit and commissioning of the construction with plants, isometric levels and sometimes calculation or detailed reports are presented to the corresponding authority.
Environmental impact: A study is carried out to determine the impact the project will have on the region.
Feasibility of public services: The availability of services and effects is verified. The use of full height turnstiles, for example, is considered important.
Alignment of the land: Procedures to obtain the official number and land use, it is advisable to verify in advance that the property does not have legal or community conflicts to avoid problems during the management.
Project and construction
During this stage, the engineering project is extended, and the development of the work is contracted, this is the best stage to find constructive and design improvements that generate savings at the time of construction and then be verified during the work by supervisors who ensure the compliance with the work program and the quality of the executive project.
Start of operation and project registration
Remember that to start operating, it is necessary to process the operating licenses for the business premises and the advertising permits for the announcement of your project in advance.
Hopefully, with this article, you as a potential investor can understand what essential points need to be considered when it comes time to invest in shopping centers. We hope this article helps. Thank you for reading and good luck!
