Leasing Retail Space – Types Of Retail Space

What Type of Retail Space?

A great retail space for your business needs to be the right type of space in the right location. The previous portions of this article addressed location. This section will address options for the type of retail space.
Impulse versus Destination

Some purchases are made on impulse and other purchases are made after careful planning. Retail for the carefully planned shopping will be termed destination retail. Starbucks is a great example of an impulse purchase. You see a Starbucks location and decide to pullover and have a coffee and perhaps a pastry. Have you noticed how Starbucks almost always has incredible locations?
Impulse

If they are in a shopping center, they’re almost always in an end-cap location. If they are part of a larger shopping plaza, they typically have the best a location within the shopping plaza. If the retail space you are seeking involves impulse purchases, you should see prime space. Great visibility and great access are both important. Even though it will be painful, you probably need to pay for the very best possible location.
Destination

If you are seeking retail space for destination retail, an incredible location is not necessary. You need to be in the right area but you do not necessarily need the finest location within the shopping center. Almost all destination retail has a convenient location with good visibility. While access is a factor for destination retail, it is much less important in comparison to impulse purchase retail.
Types of Retail

Following are various types of retail space:
Freestanding store
Strip center
Neighborhood Center
Community Center
Regional mall
Power centers
Definitions
Anchored retail space has a retailer who generates an amount of traffic. The anchor is typically a larger store or perhaps even a set of larger stores. A grocery store is the anchor for most neighborhood shopping centers. Department stores have typically been the anchors for regional malls.

Shadow anchor refers to a shopping center (typically a strip shopping center) which has a mall by virtue of being proximate to a major retailer. Target, Wal-Mart, Sands, Costco and IKEA are all stores which would be good draws for a shadow anchor shopping center.

End-cap is the space at the end of a shopping center, typically at the end of a strip center.

In-line space is space in a shopping center which is not at the end. In other words, it is space between the two ends of the shopping center.

Select a Type of Space

The optimal retail space for your business will be obvious in many cases. If you’re planning a gas station/convenience store, you would clearly not open it within an enclosed shopping mall. If you are planning a department store, you would not open it in a strip center.

Tradeoffs

However, there are variations in judgments regarding the best location for a retail store for many types of businesses. Many retailers have a combination of in-line shopping store space and freestanding stores. A freestanding store will likely be more expensive. However, a freestanding store gains more visibility. In most cases, you can effectively place advertising or signage on each side of the building. Your business has much better visibility in comparison to in-line space.

Prime Space?

An end-cap space in a shopping center which is perpendicular to the street also has excellent visibility. Restaurants frequently locate in end-cap spaces. If your product or service is an impulse purchase with a relatively low price point, give serious consideration to obtaining premium retail space. Consider paying the additional cost for either a freestanding location or end-cap. Enclosed regional malls can provide a good option for impulse purchases or high-end merchandise.

Regional Malls

Enclose regional malls have recently bifurcated into either prime or secondary/tertiary quality malls. The prime malls are doing great. They tend to be full and have an excellent array of tenants. The secondary and tertiary malls are doing fairly to poorly. In many cases, the highest and best use of the property has changed. Many second-tier regional malls are either being redeveloped as retail, perhaps as a power center, or are being scraped and rebuilt in a variety of land uses.

Destination Retail

Conversely, if your product or service relates to destination retail, consider cost-effective retail options. In some cases, space in a neighborhood shopping center where the anchor tenant has gone dark (anchor tenant has left the states but is still paying rent) they provide a great overall location and a modest price for rent. For tenants who need larger retail spaces, second-generation grocery store space can be a great option. And the big boxes also provide retail space typically in a good location at much more moderate prices. As Wal-Mart has revised their basic template, they have vacated many medium-sized retail stores. In general, second-generation retail space provides a much less expensive cost of occupancy than first-generation space.

The Market Research and Consulting division of OConnor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.

Revealing The Key Stepping Stones For The Future Of The Internet Marketing In 2015!

What constitutes a successful business strategy!! A successful business strategy is mainly comprised of the key success mantra for outstanding internet marketing! Many marketers have been all geared up, with not disclosing their cards for the key battle ground of the advertising! Theres a famous saying on the execution of the key strategies execution is all that counts but its not. The key premises through which the execution is done, is what which count even more

For the upcoming year of 2015, the marketers have promising foregrounds for the internet marketing key grounds. Much kudos to the advent of the PPC, CPA & CPV models, being reckoned in the affiliate fraternity!

The well-laid strategies for the internet marketing would focus more on the best practices for the SEO with the relatively predominant consistent content management!

The market experts have the key findings which constitutes the main key findings for the internet marketing! The main foundation would be laid by the synergy between the proven business models with the workable customer acquisition models.

The jargon for the internet marketing which has been implemented by much portion of the market experts is Make money online marketing As it has been undoubtedly been the best marketing practice for making money online in a way creative! Internet marketing or the online marketing comes under the category of the most refined niches online, one of the most innovative in its kind. The main components which constitute the critical niches for the internet marketing have been: Blogs for the branding, Articles for the better brand promotion of the brands.

The main essentials for the online advertising will be consisted of the main key findings as mentioned below:

1.Customers tracking & their records would be significant
2.Niche focused tools would expand
3.The trend of the e-books would gradually be dead
4.The era of the DVDs would die
5.The new trend in the pod casting which would be the blogging new language!
6.Sophisticated and proctored communities will begin popping up everywhere.
7.Blogs would be the most powerful brand building formula for empowering the online ventures.
8.Your customers will need to use your product and be successful for you to have a sustainable online marketing business
9.Personal freedom is slowly starting to be articulated as personal sovereignty.
10.Your customers will need to use your product and be successful for you to have a sustainable online marketing business
11.In-person events and training will explode
12.The daily podcast format will become prominent
13.More and more, content will need to be delivered with high-level consulting
14.More 4th wave internet marketers will emerge.
15.University educations will start to look more like internet marketing training, and internet marketing training will start to look more like university educations
16.If you want to start a blog about entrepreneurship or personal development and you dont have an angle that gets everyone in the room FREAKING PUMPED and saying theyd buy products from such a publisher
17.Apprenticeship is back.

What Is Buzzworthiness How Do We Create A Marketing Buzz

What pops into your mind when you hear the word buzzworthy or even just buzz?

Well for starters, when I hear the word buzz on its own, I think of bees swarming around a hive full of honey. If I think a little further I get an image of a busy New York street, a mall full of people, or even a festival/parade. These things also bring me back to the image of the bees buzzing around a hive of honey, the only difference is that they’re people, and the honey is something that attracts them there.

The honey in New York would be business opportunities, social opportunities, and entertainment. In a busy mall, it’s the stores with the products and services they offer. A festival or parade has festivities, extravagant performances, or entertainment value. All these things are what we could call buzzworthy, because they attract a crowd of buzzing bustling people excited and active.

So now let’s put these images in the frame of business and word of mouth/buzz marketing. When we’re trying to develop a viral marketing campaign, we need something buzzworthy. So let’s look for some honey that’ll get the bees swarming. Since we’re probably not selling honey to bees, we’ll need to find something that is sweet enough that will attract a swarm of buzzing excited customers for a feeding frenzy.

This is where things could get challenging though. It would seem that there are so many products and services out there, with so many marketing campaigns, that the swarms have scattered and become uninterested. They’ve headed for the honey one too many times with the thought of how sweet it will be, only to discover a bitter muck or molasses at best. This causes them to become discouraged, untrusting, and wary of the next guy who advertises honey.

Don’t let this get you down, or stop you from releasing a product. The fact that there are so many dud products out there can be your opportunity to release a good one. According to the contrast principle, those dud products can actually boost your recognition just by your ability to be so much better than the competition.

Now I can sense that some of you are probably thinking “How can I be sure my product is better than the competition?” It’s simple; just make a product that is buzzworthy, which means making your product sweet enough to attract a swarm of buzzing customers. How? Through excellence! People talk and get excited about excellence, and that is buzzworthiness. Here’s a breakdown of how to be sure your product is excellent.

– Don’t overhype your product and then underdeliver. You may get a swarm on the initial product launch, but when those buzzing bees find out that your honey is really molasses, the buzz will be silenced, and you can say goodbye to your customers, because they won’t be coming back for more. Only amateurs focus on the first sale.

– Give your customers a high return on their investment. This means deliver what you promised, at a fair price, and then overdeliver. Give them more than what they asked for. Add value to your product where-ever value can be added. Stick behind your product, give support for your product, guarantee your product or their money back, and tack on some bonuses for buying your product.

– Create a good Unique Selling Proposition (USP). Your USP is an attention grabbing phrase that addresses a few of the following: What you’re selling, how much, key benefits, &/or why buy from you. This is an important part of your product creation process and is best if it’s short, sweet, catchy, and enticing. Pay attention to the word “unique” in there, because you need to have a unique quality that makes you stand out from the rest of the crowd. You also want to make sure that your USP is believable. Most people know the old saying “If it sounds too good to be true, it probably is”, and if that pops into their mind when they read your USP, then you’re sunk.

Hype your product, and then overdeliver! Excellence is buzzworthy, and if you go that extra mile for your customer, and if you exceed their expectations, then they will be excited about you and your product, and they will tell others about it.

Q) What is buzzworthiness?
A) Buzzworthiness is something that is buzzworthy.

Q) How do we judge what’s buzzworthy?
A) If it’s buzzworthy, then it will create a buzz.

Q) What defines a marketing buzz?
A) If customers are excited about a product, telling others about it, and coming back for more with a swarm behind them in a feeding frenzy.

So there you have it folks. I hope this gives you a better idea of how viral/word of mouth/buzz marketing works, and how you can create a buzz with your product/service. Just one more key to note is that you should study the concept here, then innovate, and improve upon it. Some of the biggest buzzes I’m sure are still to come, and you might just be the one to start them buzzing.

Double Bottomline Entrepreneurship

Today, I spoke with Dr. Ken Gibson, Founder of LearningRx, and listened to quite a fascinating story of an entrepreneur. Ken was an Optometrist, with a strong interest in business, and at some point, provided business consulting to over 300 Optometrists, before developing the methodology for training people to learn that is now at the heart of LearningRx.

LearningRx provides cognitive skills training that improve the brain’s ability to process information. The LearningRx training programs go beyond the symptoms of academic struggles to attack the root problem – the limitations to the student’s ability to learn. The training enhances underlying cognitive skills required to learn effectively – auditory processing, attention skills, comprehension, visual processing, memory, and problem solving. Once strengthened, these skills enhance the student’s capacity to learn.

Ken stresses, It’s training, not teaching or tutoring. It’s like giving a lecture on Piano versus training someone to play the Piano …

The best competing reading & learning program called Lindamood provides 2.3 years worth of improvement in 142 sessions. Ken’s program provides 4.8 years worth of improvement in 72 sessions.

In 1989, Ken started licensing this methodology to doctor’s offices and such, but soon realized that he needed a franchise infrastructure to reach more people. In 2002, he opened a Colorado Springs center, which within 4 months of existence threw up $225,000, with about 70 students participating over 3-6 month average duration.

Ken believes, engineers, not necessarily teachers, make his best trainers. Many engineers work at his centers, wanting to make a difference. Ken doesn’t allow any trainer to work for more than 15-18 hours a week, or 3 hours at a stretch. The process is intense, hence the precaution.

The first franchisee opened in 2004. Today, LearningRx has 32 centers around the country, with about 50 average active students bringing in anywhere between $250k-$500k / year. The number will surely go up, as the franchises mature! All franchisees have been recruited by Word-of-Mouth. Customer recruitment has been through a mix of newspaper and radio ads, although now moving largely toward direct marketing.

Our VCs invest money in so many incremental businesses … Ken Gibson’s bootstrapped jewel is one that makes a difference in many lives, and in my opinion, is worth scaling!

Consider Sales Jokes For Your Next Sales Training Session

This is a mistake on their part because it has been found that a sales team meeting will be much more productive where the sales manager includes jokes on sales which alleviate any sense of tension or concern amongst the sales team. Quite often when sales meetings are called, the sales team will be anxious particularly if they have fallen short of their targets, quite often there will be an element of fear of the sales manager, simply because of his or her position of seniority.

These emotions are negative and will often counter all the good knowledge on sales skills and techniques that the sales manager may impart during a meeting. By including sales jokes and sales training jokes time to time in a sales training session or a weekly sales meeting to review business volumes the sales manager will engage the team far more effectively and far from creating any element of disrespect, will find that the sales team will relate much better to the sales manager, and as a result more driven to achieve the sales targets set by the company.

A survey of sales mangers conducted in Melbourne, clearly shows that those mangers who introduced humour in their sales meeting by way of a good sales meeting joke here and there developed far greater motivation levels in their sales teams than those who chose to avoid the use of any such sales jokes or sales training jokes in their sessions.

Where sales jokes were incorporated into the training or coaching sessions there was a much greater sense of company loyalty, the sales team was much more cooperative and importantly they felt that they could approach the sales manager and openly discuss any concerns or difficulties they were facing in the sales process.

Simply by including a sales training joke or general sales jokes in any meeting improved the business volumes achieved on a weekly basis and ultimately delivered a much improved profit for those companies where humour has been embraced in their organizational culture. The importance of including all staff in a shared sales joke should not be underestimated.

The re-telling of a good joke about sales or management has a positive influence as each member of the staff shares a laugh with one another through the course of the working day.
While many senior company personnel are concerned about the risk that adult sales jokes or other inappropriate jokes may be told within the office, it should not discourage the use of jokes on sales carte blanche.

Companies can embrace humour but ensure that no offense is caused by putting together some simple guidelines that clearly state what is and what is not acceptable.