RetailBX.sg - "Box" Shop and Shelf Space -What's Your Views?

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Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by Takeshi (Post 12960)

Ya lorx. 1 thing to add on. If you rent a box right, you can't put any of your contact no. name card or what so ever. They called it the conflict interest. If you want to put in your contact no or name card, you need to pay extra money or rent 2 boxes instead of 1! That's lyk OMG!

sure? i saw in cactus, a lot of owners put their name cards

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by xoxoxo (Post 12956)

12 days to die....dying a slow death then :p Oh but thanks for the reminder on deposit, comm, POS charges and signage & props. Any other costs we need to take note of? Hopefully the signage and props you can still use them when you move to other places.

Hahaha....yes dying very slowing & bitterly....:D no thanks, just need to share my views & pts that's all. Yup i sure can use back my props so it's not too bad lah...i think that's all with the charges. Will update when there's more....:)

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by pokerface (Post 12971)

sure? i saw in cactus, a lot of owners put their name cards

Ya, for cactus they allowed. Maybe some at Plaza Singapura don't allow. I can't say the shop name but I know you can guess. =)) Just went down to cactus today and talked with the boss. There is quite a potential there. I saw quite a few of my products selling there. Yet, at a sky high price. Pricing is above $20+. I am selling only $15 and below! I am not sure. I saw a long list of people queuing up for the boxes. Maybe is good?

I am still observing the crowd and etc. The rental is around 300+. Kinda hard. Expecially, there are quite a no. of boxes selling accessories. I heard from the boss that at central, it might be higher due to the shop rental. So I am still considering.

I hope this helps a little.

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by Takeshi (Post 12979)

Hi n how r u? what is the sz of the box? when u said 300+ is it for 1 box? maybe you can share more cos i believe there are more besides the rental. I actually wanted to take the space there but i went 3wks ago when the internal are still renovating. To me the building is ie a puzzle, i don't really like it when you go up from the escalator facing the OG building. I personally feel that the crowds are more for the yongsters so my kids wear will not work there. Anyway, i already give up the thought of putting my stuff in those boxes. Small & interesting things should be fine. :)

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by Takeshi (Post 12979)

haha good for u then! :) i just signed up a box for OC yesterday. a bit rush and last min, so now busy busy with the set up and making of more handmade accessories :D

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by annies.Knicknack (Post 12982)

hi annies, each box is 50 x 50 x 55, but i think they can combine box. yah for kids wear, i also not sure if work there. my target crowd is teenagers and working ladies

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by Takeshi (Post 12979)

300+ and that is only rental :juggle: So to cover rental alone, we need to earn at least $10+ a day. Sounds easy but so much competition from the other boxes and times are so bad :( If your selling price is $15, must sell a few pieces a day to cover rental, commission, cost of your products, transport and dont-know-what other expenses lor, otherwise how to earn a decent profit. Alternatively, go for special products and mark up higher but too expensive customers also don't want to buy :( Sianz... I think we end up helping the shop owner pay rental :mad:

Re: "Box" Shop and Shelf Space -What's Your Views?

hi all,

I read all your comments about box shops etcs.I'm very interested & intending to rent one of those but no ideas how's it likes.Hope to hear all your comments.As these feedbacks will help those intend to rent/intend to rentout.

Would like to ask those that had rented before whats the spaces given likes & roughly what prices range are they charging for?According to eye level or to sizes given.
What kind of locations will it be considered a good location & what kind of crowds to attract is the best?
other then REntal what others charges do they charge us & how much?
Like one of you mention in e forum,what happen if your products are damages what do they do &what u expect them to do?
Normally how much deposits & for minium how many months must we take just to rent?
Would you prefer a shop that sells che pa langs stuffs of any items & decorate in ur own styles or prefer a shop tat sells on one theme & decorate in one styles?
What happen if few boxes are all selling accessories but of similar types or differents types does it affects your sales?Which would u prefer.Would u still intend to takeup a box or what will the owner do?do they still rent out to you.
What are your ideal rental charges?Thru your experiences do you all give infos to e sales person for them to help u with your sales or they simply cant be bother to know?

Above are some comments i wonder after reading the forums.Anyone got anymore to add on?

Re: "Box" Shop and Shelf Space -What's Your Views?

Hi Secret Garden,

That's a lot of questions...
but all good ones...
will try to answer as much to my knowledge.

Quote:

Originally Posted by secretgarden (Post 12998)

Would like to ask those that had rented before whats the spaces given likes & roughly what prices range are they charging for?According to eye level or to sizes given.

Actually, the truth is that it varies from box operator to operator, depending on demand and supply, and sometimes, it really depends on how you negotiate the deal...
What kind of locations will it be considered a good location & what kind of crowds to attract is the best?

A good location is one that has a lot of traffic, what comes to mind right now is the box operator located at Jurong Point New Wing, Cool Little Things or something like that.

Based on my opinion, the people who largely buy are either school kids who are buying a present for their friend or young adults... For the former, price it below $20 while for the latter, unique is the key.
other then REntal what others charges do they charge us & how much?

Really depends, what you want to do is to single out a few operators and then ask them each what is their charges...
usually a monthly rental and a commission basis.
Like one of you mention in e forum,what happen if your products are damages what do they do &what u expect them to do?

Actually, in any agreement, the box operator will always win...
so no point arguing about that, instead factor this into your running costs...
Normally how much deposits & for minium how many months must we take just to rent?

Also depends on how desperate or not desperate the box operator is...
so the trick is not to show yourself as desperate,
tell them honestly you are choosing a few competitors...
and you are just trying...
negotiate, negotiate, negotiate...
Would you prefer a shop that sells che pa langs stuffs of any items & decorate in ur own styles or prefer a shop tat sells on one theme & decorate in one styles?

errr... i think it is difficult to have all stores to have a single theme...
how does a gothic theme go with the current korean flower dresses...
instead, think of how to make your box stand out!
Think of decorating the entire box, not just the base only...
What happen if few boxes are all selling accessories but of similar types or differents types does it affects your sales?Which would u prefer.Would u still intend to takeup a box or what will the owner do?do they still rent out to you.

Actually, in fact, you should choose places where there are a lot of accessories being sold already...
which means accessories might be doing well there...
and just make sure yours is distinctive
and return customers of your competitors may just buy yours!
(classic example: Sim Lim Square)
What are your ideal rental charges?Thru your experiences do you all give infos to e sales person for them to help u with your sales or they simply cant be bother to know?

Rental charges are as ideal as how much cash you have to burn.
Location is more important. Sometimes, it's better to spend a bit more for a good location.

Above are some comments i wonder after reading the forums.Anyone got anymore to add on?

Last piece of advice...
A lot of times, we see entrepreneurs under-pricing themselves
and thereby, working for free...
they don't consider their own time as labour cost...
if some of them were to work out the number of hours they put in...
they would probably be worse off than a mcdonald's crew...
(but if it's passion, that's another thing altogether)

As a guideline, always make sure you have 100% gross profit.
i.e. you sell for $2, your profit margin should be $1.
(what they call keystone pricing)...

Thanks!
Wee

Re: "Box" Shop and Shelf Space -What's Your Views?

Quote:

Originally Posted by xoxoxo (Post 12996)

300+ and that is only rental. So to cover rental alone, we need to earn at least $10+ a day. Sounds easy but so much competition from the other boxes and times are so bad. If your selling price is $15, must sell a few pieces a day to cover rental, commission, cost of your products, transport and dont-know-what other expenses lor, otherwise how to earn a decent profit. Alternatively, go for special products and mark up higher but too expensive customers also don't want to buy. Sianz... I think we end up helping the shop owner pay rental

i took the rent and divide by no of weeks. so i know how much sales i should make each weekend. i dun really bother with the no of weekdays cos weekday crowd at shopping centres.. really depends lor.

so after dividing by no of weeks, the rent is about $50+ to $60+ per week. then add the % of operation cost / commission. i roughly know what is the amount i need to break even.

so at this $50+ to $60+ rate, i figure out it's almost the rent that i pay for the flea markets and bazaars. just that i no need to be present in those warm flea markets & bazaars and carry my luggage here and there. so why not give a try? haha

and why i chose cactus in the end over all the other box concepts?

1st the rent is paid on a monthly basis. cashflow is easier on me. and i agree with the owner, who said that this is to encourage the tenants to come back to the store on a regular monthly basis - to pay the rent and to collect the payment cheque. this way we can check our own box ourselves regularly.

2nd i like the store better. really. shelf-concept store seems messy and have quite a few friends of mine telling me that their goods get damaged cos squeezed together with other tenants. box-concept store - others seem so dark and some look dirty. this is not the image i want to present to my customers.

3rd after talking to the bosses, i felt they are much more business savvy compared to the other concept-store owners. the amount of advertising, marketing, branding. how the terms are stated out clearly - when the owner explain, and in the contract. while i too am afraid that i cant earn my rental back, i believe that all businesses have a certain amount of risks lor. just that i take calculated risks.

good luck with ur biz too! :D