Retail Joint Venture and Alliances - Survey
 

Hi Alls

Just need some feedbacks of what you all think

Due to High rental cost, high maintaince cost (include labor,rental, power supply and + others etc) and high startup cost.
it seem unlikely for a common people like us to come out with and the risk is quite high.

if there a retail joint venture program
- located at the prime area

Advantages
1. Having your products Maximum exposure to the crowd

2. Letting you continue with your busy life, be it taking care of your children, traveling or working in a corporate.

3. No worry of stuck with big volume of stocks just to fill up the whole store/push carts unknowing which products sellable.

Able to test out which product is sellable, and bring in one by one and rent more space slowly to increase more earning

4. create a strong promotion advantages at the lowest cost (joint marketing) and increase the sale of the products during the weekend/festival times

5. As it present as a whole shop, it help to increase the value of your products by earning more profits by having a strong competitive edge and image VS other big Player (competitors) nearby

6. Easily to provide an incentive at the lowest cost to the sale staff as commission to maximum selling of your products then having own shop and pay staff commission as might cost alot

7. Lowest cost = lowest loss with the maximum profit exposure ( avoid of heavily investment on it. Be it, opening a shop or push carts.

8. No hassle to startup, no labor problem and still can keep current job and earn extra income.

9. The concept is to create a strong competitive edge. With Every single Alliance we become a powerful retail player. As a image to the customer is -there always an "NEW or IN thing" - found in the shop

10. Slot Rental as Low as $10 per Day


With all above, Will you interested to join the program?

Re: Retail Joint Venture and Alliances - Survey
 

hi, it really depd..... i have tried selling through that kind of concept before, honestly, i have never even covered my rental once for those 9 months. Plus i lost my stocks in the process. i cant even control the display of my stocks. The shop keeps changing staffs, n the new staffs are not keen in the selling as there are too much diff ranges of products n pricing to remember. They just wanna earn money, that all. N the owner of the shop aso cant be bother, so long we keep investing and paying rental. and i cant withdraw due to contract blind.... in fact, i lost a few thousands thru this concept of parthership.

Re: Retail Joint Venture and Alliances - Survey
 

it really all depends on further planning. I.e, there was a building at bugis, dedicated to thoses start ups and what not... in the end, my friends were telling me that there was pratically no business. Could be due to a lack of advertising, amenities, etc etc. $ is always a problem, but if you dun pay enough, no adverting gets done, thats a problem too.

Re: Retail Joint Venture and Alliances - Survey
 

due to high risk and cost for a common people like us, it very unlikely to spend 10k of thousand just for a startup just for a "try"

still break down to the company that provide such a renting service.

anymore feedbacks... problems of such service that anyone faced

please kindly share. ..

there alot of joint venture out there, but just that there no company provide a professional service on that...most of them just care for themself how much they earn from us.

but back to the basic, if we cant earn from the shelving their business cant last also. no one will carry on renting from them either.

Re: Retail Joint Venture and Alliances - Survey
 

erm................ inQbox?

Re: Retail Joint Venture and Alliances - Survey
 

just want to bump up this thread to generate more discussions. this concept seems to be more popular recently... i guess if it's well managed... and that your products have proven to be sellable through other platforms like bazaars, webshop, etc, i guess no harm joining to extend your market share.

anyway, if we decide to work with such business owners who rent the space to you, do we have the right to ask to take a look at their tenancy/ lease contract with their landlords? i mean, these shop owners usually ask for deposits & all that, how do we know if they are reliable & won't close the shop the following month after making you pay 2 to 3 months of deposits?

any idea how do we safeguard our own interests as vendors?

Re: Retail Joint Venture and Alliances - Survey
 

It's quite hard to earn back the rental money it seems. I spoke to several box owners before and none of them are making money. However, one of them told me it's good for publicity and indirect sales to your blogshop. It really increased her sales at her blogshop and she is going to renew the contract with WOW display @ E!hub.

So I guess it really depends on your objective. If your objective is to promote your branding and increase exposure, it may worth it. Marketing "eats" money. Out of all the box concept, I think INQBox rental is really too high to absorb. $300-$500/mth, I rather publish an ad on 8 days better. $60/mth at E!hub is more worth the money. I can put half a year there compare to 1 month at INQBox.

Re: Retail Joint Venture and Alliances - Survey
 

Hmm... how much is the advertisement on 8 days?

Re: Retail Joint Venture and Alliances - Survey
 

yup agree. rental is a killer, especially during these recession times. i find consumers (and even myself haha) looking for bargains - need not be the lowest price - but a good price for the quality. worse, some landlords still want to increase rental. some bazaars rent are also quite high, and sales can be quite poor. the rent u spent, the time u could have better used, the cost of transport to and fro, etc. think i've to stick to flea markets and maintaining my website for the time being

Re: Retail Joint Venture and Alliances - Survey
 

i do agree on the part of giving your products that added exposure but sad to say, the one i've checked out earlier, disallows you to put your flyers, name cards with contact info, let alone your webshop address... :(