Hello,
I suspect a lot of people will say to leave this property alone, and I might be inclined to agree but I am after some ideas because surely there has to be a “problem+solution=cash” scenario.
I am looking at a vacant commercial property. It has been vacant for about 5 years. It is only 8 sqm (hence why I think I can easily afford it) and used to be a ticketing office, and so it looks like that. Glass front with little gaps under so you can pass money/tickets.
It is located within a cinema foyer but is separate to the cinema’s own ticket area. There is also a restriction on the type of business that can go in there, it can’t be retail and has to be “entertainment” oriented (which can include selling food).
It used to be a REDS ticket office.
So my question is, given those restrictions, what sort of businesses could exist in such a place?
Cheers,
QuinnyHello,
This sounds like fun!Ideas, and sorry some of these Im not sure are considered retail or commercial….
1. Money exchange
2. Phone card (kind of entertainment)
3. News agent?
4. Video rental shop (one of those juke box DVD rental things)
5. Take away coffee shop would fit
6. Display case for advertisingWhat type of people traffic will flow?
Good luck Im sure you could make something work.
Mat
Hey Quinny
Do they have another food outlet there?
If not you could do the usual million dollar popcorn,snowcones,and all that stuff.( but do it at a more reasonable price and yll do more turnover!)You could even try a juice and smoothie bar?
,i would recommend finding a tenant to go in there on lease before you purchase the property.You could even leave the decision up to them what business they want to run.
It would probably be easier to find a tenant by deciding on a few possible business s
then go to some similar shops in the same complex and others in the suburb(or city) and put it to them if they want another shop to expand into. Then sign em up.
Be careful to get the property secured some how so they dont buy it out from under you .We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Thankyou Mat and World Changer.
The type of people traffic is mostly teenagers, but as all age groups go to the cinema, it could be anyone passing through. Generally though there is no reason for anyone to go in there unless it is to go to the cinema.
There are other shops, mostly food related. So there is a restaurant which has an entry outside as well as one in the foyer. There is a Chinese take away place in the foyer also. In the same complex there is a McDonalds.
Can’t sell popcorn as the cinema does and a business can’t compete with one that is already there. So no cooked chicken, hamburgers, ice cream and popcorn.
Juice and smoothie bar sounds good.
Not sure about take away coffee but that also sounds good.
Video and DVD rental is allowed but there is already a Video Ezy in the complex. [smiling]Thanks heaps for the suggestions!
Cheers,
QuinnyWhat sort of price are they asking? A friend of mine is getting $130 per week for allowing a ATM machine to be placed in a wall of his shop.
Terryw
Discover Home Loans
Parramatta
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No price, it’s “make an offer”. The real estate agent told me that one of the vacant lots sold for $2000/sqm and that one was external to the cinema so I expect the one I am looking at to be less than that.
That’s interesting about the ATM. That was one of the first things I thought of to put in there. [smiling]
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