If you’re thinking of starting a business in a mall, I have 40 key profitable business ideas to start NOW.
If you carefully apply this business strategy, in a short time you will be able to make a difference and stand out from the hundreds of shops that share the same space…
Look what we’re going to see in today’s article…
- Important advice before opening a store in a mall.
- How men and women behave in malls (This will be VERY HELPFUL).
- How to choose the best location.
- Push strategies to get them to enter your store and buy.
- The 40 most successful commercial activities in a mall.
- And I’ll tell you what the current customer is looking for when visiting a mall.
are you ready to start
Perfect. Let’s warm up the engines with this infographic…
Tips before opening a store in a mall
Something to note:
Conduct a market study
Although the mall is a good option for business, you can throw your money overboard if you are not sure who your customers are and what your competitors are.
It is important that you find out what needs or wants you will be filling and if there really is a demand. If you need help, you can read our article: Maslow’s Pyramid to find out what your customer wants.
According to NeuroMobile, men and women in the mall behave like this:
This is how couples behave in the mall:
Read the here Report: User behavior and influence in shopping malls by Neuromobile.
How to choose the best location?
For example, if the mall is next to an Ikea, your cheap furniture store is unlikely to work for you.
However, there are some malls that take this into account in their policies. But if they don’t… Consider it.
See what’s nearby, who the visitors are, and what other stores the mall has so you don’t get frustrated when you’re competing with someone with a very similar store.
“It’s not always good to be next to big brands in a mall – Marketing”
Customers who visit your store already know what they are going to buy
The good thing about opening a store in a mall is that you already know that people are going there because they have greater purchase intentions than most people. What you need to do now is push strategies so that they enter your store and buy too.
You can achieve this with offline and online promotions, coupons and opening (or seasonal) discounts, for example. If you need more help, you can read our article: Sales Promotion: Examples and Techniques for SMEs
How much does a business premises cost?
If your economic activity is listed in the Annex to the Law 12/2012 of Economic Activities Tax RD1175/1990 and if your premises are less than 300 square meters, you are exempt from obtaining a prior opening license.
In this case, all you have to do is make a responsible statement to the city council.
This does not mean that you should not perform a procedure. You must have physical documentation of your work area, pay a municipal fee, and also register your employees for Social Security.
Here I leave you one List of commercial activities who are exempt from the previous license (IF YOUR PREMISES IS LESS THAN 300 M²)
For more information on the responsible declaration, I recommend you to go to the website Certicalia.com
Shopping center in Spain: numbers
Shopping centers have a future in Spain.
According to a report by Cushman & WakefieldEurope would add more than 9.1 square meters of new malls over the next two years.
Regarding the municipalities with more space for shopping centers are: Madrid, Barcelona and Andalusia. In Granada, with more than 85,000 square meters, Parque Nevada is the largest shopping center in Spain and the second largest in Europe.
The future looks bright for shopping centers in Spain
The figures of the Spanish shopping center
Corresponding Spanish Association of Shopping Centers and Parks (AECC)
- In 2015, shopping centers in Spain recorded 1,905 million visitors spending 40,978 million euros. This assumes an average turnover of EUR 2,631 per square meter and year.
- Influx to malls up 3.1% in January, index Experian Fotfall.
- Employment in shopping centers increased by 0.8% with 329,000 employees (AECC).
- 84.3% of the space in shopping centers is less than 300 square meters.
- In July 2016, the influx into shopping centers has increased due to the good work of retail and sales promotion. Summer weather is also believed to make people feel more comfortable going to the mall.
Have you dared to open your own shop in a mall? Then I recommend you to be precise to make profitable trades with these business ideas…
Shop ideas and profitable businesses in a mall
The most successful commercial activities in a mall are:
Regarding the mobile applications of a mall, users behave:
Well yes, I leave you with some ideas of stores that you can open in a mall
40 ideas for stores to open in the mall:
The options can vary greatly depending on your budget, the location of the mall, and the competition around you.
However, with your personal touch and lots of creativity, you can create profitable businesses:
- open a chocolate shop
- Trade in juices and natural juices
- Start with a gourmet shop
- Drink an American coffee
- Start a bakery or confectionery
- Open your own casual clothing store
- Tips to make them love your thrift store
- service shop
- Set up a video game store
- Open a sporting goods store for runners
- Open a sports shop
- Computer products store
- Create and manage your own themed spa
- Open a beauty center specializing in nails
- open a wine shop
- Start a liquor store
- open a beauty salon
- Open a professional makeup salon
- Create an electric hair removal center
- Open the offices of your real estate agency
- Set up a 3D Tattoo Studio
- open a gift shop
- Create a digital printing agency
- Create a healthy eating restaurant
- Open a “pet-friendly” cafe
- Open a costume shop
- Furnishing of the offices of an advertising and marketing agency
- Create the headquarters of your audiovisual production company
- Open a successful franchise location (grocery, clothing, services, insurance, etc.)
- Set up vending machines
- Set up a press, magazine and tobacco kiosk
- shoe stores.
- Movie theater.
- Entertainment centers for children or families.
- Space for events (meetings, exhibitions, congresses).
- live events.
Remember that being in a mall does not 100% guarantee the success of your business. To achieve this, you must consider all factors of audience, architecture, your offer and stand out from other stores.
Customers today are looking for new experiences, better offers, more personalization, and the power of technology to engage with customers at all times.
If you liked the article, help me spread it 😉
Until next time!