business plan for a shopping mall

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Shopping Mall Business Plan

Published Mar.17, 2023

Updated Apr.24, 2024

By: Cynthia Turner

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Table of Content

1. Shopping Mall Business Plan Sample and Template

This business plan for building a shopping mall can be a great resource for entrepreneurs looking to start their own shopping mall.

It provides an overview of the mall’s structure, operations, and financials to help them understand the market and make well-informed decisions.

Lastly, it includes a marketing strategy that outlines how to start a shopping mall and how it will differentiate itself from the competition, which can be used for various business plans like Supermarket Business Plan .

2. Executive Summary

Business overview.

The Arcade Shopping Mall is a one-stop shopping destination for quality products and services. It will offer its customers various products and services, from clothing, electronics, and health and beauty to entertainment and leisure activities. The small shopping mall business plan will also feature a large food court, a play area for children, and a variety of specialty shops.

The mall will provide a safe, pleasant shopping experience for its customers and will strive to create a sense of community within the mall. The mall will be conveniently located in a densely populated area, making it easily accessible to customers.

We plan to use the latest technology to create an enjoyable, stress-free shopping experience. Our mall will feature a variety of high-end stores, restaurants, and entertainment options, including a movie theater, bowling alley, and arcade. We plan to use innovative marketing strategies, such as social media campaigns and targeted advertising, to reach our target customers.

Our Wholesaling Business Plan offers a wide variety of products for customers. We offer a selection of luxury and everyday items, including

• Clothing and Apparel: T-shirts, jeans, dresses, jackets, activewear, sweaters, and accessories.
• Footwear: Athletic shoes, sandals, boots, and dress shoes.
• Electronics: Phone accessories, tablets, laptops, headphones, and speakers.
• Home Goods: Furniture, bedding, kitchenware, and home décor.
• Beauty Products: Makeup, skincare, hair care, and fragrances.
• Jewelry: Watches, necklaces, rings, and earrings.
• Toys: Action figures, dolls, and educational toys.
• Sporting Goods: Exercise equipment, team sports gear, and outdoor recreation gear.
• Books and Movies: Books, DVDs, and video games.

Customer Focus

Same as our Sandwich Shop Business Plan , we will ensure that our customers are always our top priority. We will provide excellent customer service in all aspects of our business. We will ensure that our customers always have access to the products and services they need. We will strive to create an enjoyable shopping experience for our customers. We will also use customer feedback to continuously improve our services and products.

Management Team

Our management team will consist of experienced professionals from various backgrounds. We will have a team of experienced managers and supervisors who will be responsible for overseeing the day-to-day operations of the shopping mall. Compared to our Food Truck Business Plan , we will also have a team of experienced marketing and sales professionals responsible for driving customer traffic and sales.

Success Factors

Our success will depend on several factors, including our ability to provide excellent customer service, our ability to source high-quality products and services, and our ability to market our products and services effectively. We will also need to be able to manage our operations and finances effectively. Additionally, we will need to be able to develop and maintain relationships with our suppliers and vendors.

Financial Highlights

Our financial highlights include revenue projections, capital and investment requirements, and estimated profits. In the business plan shopping mall project, we will generate revenue from selling products and services and tenant rent payments. We will also have initial capital and investment requirements to construct the shopping mall and purchase equipment and supplies. Our expected profits will depend on the success of our operations and our ability to generate customer traffic.

• Revenue growth of 8.5% year over year
• Operating profit of $5.0 million in Year 1
• Positive cash flow from operations of $2.5 million in Year 1
• Total capitalization of $20 million
• Debt-to-equity ratio of 1.0:1
• Return on equity of 15% in Year 1
• Payback period of 5 years

3. Company Overview

Who is arcade shopping mall.

Arcade Shopping Mall is a modern shopping complex located in the heart of a major metropolitan area. The mall offers a wide variety of goods and services and has grown to become a destination for shoppers from all over the region. The mall is owned and operated by a private developer who has invested significant capital into the mall to keep it competitive and up-to-date.

Arcade Shopping Mall History

Arcade Shopping Mall was opened in the year 2020 and since then has quickly become a popular shopping venue. It is conveniently located near public transportation and other nearby amenities. The mall business proposal offers a wide selection of department stores, specialty shops, and an array of dining and entertainment options. The mall also features an indoor play area for children and a movie theater.

The mall has a management team that is dedicated to providing excellent customer service and creating a safe and comfortable shopping environment. The team works hard to ensure that the mall is clean and well-maintained and that customers have an enjoyable shopping experience. The mall also works to keep up with the latest trends and to stay ahead of the competition.

The mall has grown steadily since its opening, and the management team is always looking for ways to improve the mall and make it more appealing to potential customers. The mall is committed to providing an enjoyable shopping experience for all who visit.

The key elements of the business concept of Arcade Shopping Mall are:

• Convenience: Arcade Shopping Mall provides customers with a convenient and easy-to-use shopping experience that can be accessed from any device.
• Rewards: We offer a variety of rewards programs that allow customers to earn rewards points for their purchases and redeem them for discounts.
• Variety: Our selection of products ranges from the world’s leading brands to unique and hard-to-find items.
• Quality: We are committed to providing customers with the highest quality products and customer service.
• Engagement: Our interactive shopping experience encourages customers to engage with our products and services.

4. Industry Analysis

The shopping mall industry has grown tremendously over the past several years, with the number of shopping malls in the United States nearly doubling since the 1980s. Shopping malls have become a staple of American consumer culture, providing various goods and services in one convenient location.

The global shopping mall industry is estimated to be worth $1.4 trillion in 2018, with the U.S. contributing the largest share of that figure. This growth is projected to continue, with the global market expected to reach $2.7 trillion by 2025. The growth is driven by several factors, including changing consumer preferences, technological advances, and an expanding global middle class.

The shopping mall industry is highly competitive and fragmented, with major players such as Simon Property Group, Westfield Corporation, and Brookfield Property Partners controlling a large market share. These companies operate large, regional shopping malls that are often the destination of choice for consumers.

Despite the competition, there is still room for smaller, locally-owned shopping malls to succeed. These malls can focus on providing a unique experience that appeals to local shoppers and differentiates them from larger national players. In addition, these malls can focus on providing services and amenities that larger malls may not have, such as specialty stores, local restaurants, and entertainment options.

Overall, the shopping mall industry is expected to remain a lucrative market for the foreseeable future. With the right approach, locally-owned malls can still achieve success in this crowded and competitive space.

5. Customer Analysis

Demographic profile of target market.

The target market for a shopping mall should be identified based on the location, the types of goods and services offered, and the demographic makeup of the local community. The demographic profile of the U.S. target market is highly diverse and includes a mix of gender, race, ethnicity, income level, and age. The U.S. population is estimated to be 329,064,917, with an estimated median age of 37.9 years. The population is 68.6% non-Hispanic White, 13.4% Hispanic, 13.3% African American, 5.9% Asian, and 4.3% of other races or multiple races. The average household income is estimated at $59,039, and the median is $50,895.

Customer Segmentation

Shopping malls should segment their customers based on their purchasing behaviors. For the shopping mall business plan, customer segmentation can be based on age, gender, income level, and geographic location. The segmentation can be further divided into sub-segments such as age (under 18, 18-25, 25-45, 45-65, and 65+), gender (male and female), income level (low, medium, and high), and geographic location (city, suburban, and rural). By segmenting the customers, the business can better understand the needs of each segment and develop marketing strategies to target specific segments.

6. Competitive Analysis

In developing a shopping center business plan, the shopping mall industry is highly competitive and there are a number of established players in the market. In order to succeed, our shopping mall business plan must consider the market competition and identify ways to differentiate our product offering and create a competitive advantage.

Direct and Indirect Competitors

Direct Competitors

The direct competitors of our shopping mall business plan include national and international shopping malls, department stores, specialty stores, and online retail outlets. We must consider the services, prices, location, and convenience factors that these competitors offer in order to compete effectively.

Indirect Competitors

Indirect competitors include other entertainment venues, such as movie theaters, amusement parks, and other leisure activities. We must consider how our shopping mall will provide unique experiences and services that will draw customers away from these competitors.

Competitive Advantage

It is important to identify the unique features and benefits the shopping mall offers to make it stand out from its competitors. Competitive advantages include low prices, convenient location, extensive product selection, and excellent customer service.

Our competitive advantage lies in our ability to offer a unique shopping experience. We will focus on creating an inviting atmosphere with high-quality customer service and an extensive selection of products and services. We will also focus on providing exclusive deals, discounts, and innovative shopping experiences, such as virtual reality tours and interactive displays.

7. Marketing Plan

The marketing plan for the shopping mall business model will focus on five key aspects:

• Target market identification: The target market for this shopping mall business is consumers who are looking for a convenient, wide selection of products at competitive prices. The target market will consist of individuals with various income levels and spending habits.
• Branding and positioning: The shopping mall will be positioned as a premier shopping destination offering an extensive selection of products at competitive prices. The brand will be associated with quality and value.
• Marketing mix: The marketing mix for this shopping mall business will include traditional advertising, direct mail, online marketing, and public relations. The focus will be on reaching the target market and communicating the message of value and quality.
• Professional website: The shopping mall will have a professional website with an e-commerce platform for online shopping. The website will feature information about the mall, including store listings, events, promotions, and more. The website will be optimized for search engines and will include social media links.
• Promotions strategy: The promotions strategy for this shopping mall business will include discounts, coupons, loyalty programs, and special events. The promotions will drive traffic to the mall and increase sales. These promotions and discounts could include special offers on particular days, “buy one get one free” offers and more.

The direct competitors for this shopping mall business are other shopping malls in the area. These competitors include large retail stores, department stores, and other shopping centers. The indirect competitors are online retailers and other e-commerce sites.

Promotions Strategy

We plan to offer a variety of promotions to attract customers to our shopping mall. As the owner knows how to open a mall, he suggested, we will offer discounts and special offers on a regular basis to encourage customers to purchase products and services. We will also host events and activities, such as fashion shows, product launches, and special offers.

We plan to partner with local businesses and organizations to offer exclusive discounts and promotions to our customers. We will also employ loyalty programs to encourage repeat customers.

Our pricing strategy will be based on offering quality products and services at competitive prices. We will offer high-end products and services at premium prices and budget-friendly products and services at more affordable prices. We will also offer discounts and special offers on a regular basis to attract customers.

We plan to offer various payment options to make our products and services more accessible to our customers. We will accept cash, debit, and credit cards, as well as e-wallet payments.

8. Operations Plan

Operation functions.

Security: The mall must ensure that customer safety is a top priority. This will include having a security team on-site to monitor activity and respond to emergencies.

Maintenance: The mall will need a team to keep the building and grounds in good condition. This will include regular cleaning, repairs, and upkeep of the facility.

Customer Service: The mall must provide customers with an enjoyable shopping experience. This will include providing friendly, helpful service and responding to customer inquiries and complaints.

Marketing: The mall must have a marketing plan to promote the mall and attract customers. This will include advertising, public relations, social media, and other promotional activities.

Management: The mall will need to have a management team in place to oversee the day-to-day operations of the mall. This will include setting goals, creating policies, and ensuring the mall operates efficiently and profitably.

4/15/202X – Obtain Funding

4/22/202X – Develop Business Plan & Hire Professional Team

5/1/202X – Lease Property & Secure Necessary Permits

5/8/202X – Begin Construction

5/15/202X – Hire & Train Staff

5/22/202X – Finalize Construction & Buy Necessary Fixtures & Equipment

6/1/202X – Launch Marketing Campaign

6/8/202X – Open for Business

6/15/202X – Monitor & Evaluate Performance

9. Management Team

The management team of the shopping mall will include a team of highly-skilled professionals who will be responsible for the day-to-day operations of the mall.

Company Staff

The Company Staff consists of experienced professionals who are dedicated to providing superior customer service. The staff is responsible for ensuring that the mall is safe, clean, and enjoyable for customers.

• VP of Retail
• VP of Real Estate
• Store Managers
• Sales Associates
• Support Staff
• Maintenance Staff
• Security Staff

10. Financial Plan

The financial plan for this shopping mall project is based on an initial investment of $10 million. This investment will be used to renovate the mall, purchase new inventory, and hire personnel to manage the mall. The investments will be made in the following areas:

• Renovation: $3 million
• Inventory: $2 million
• Personnel: $2 million
• Advertising/Marketing: $1 million
• Legal Fees: $500,000
• Miscellaneous: $1.5 million

The total cost of the project is estimated to be $10 million.

Key Revenue & Costs

The primary sources of revenue for the mall will come from rent from tenants, sales from tenants, and from other sources, such as parking fees and food court revenue. The mall is estimated to generate approximately $15 million in total annual revenue.

The primary costs for the mall will include rent for the space, personnel costs, and advertising/marketing costs. The mall is estimated to incur total annual costs of approximately $10 million.

Funding Requirements and Use of Funds

The total project cost is estimated at $10 million. To finance the project, the mall will need to secure loans and/or equity investments. It is estimated that approximately $7 million in financing will need to be secured to cover the project’s cost.

The funds will be used as follows:

Key Assumptions

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To successfully launch and operate the mall, the following assumptions will need to be made:

The mall will have a total of 140,000 square feet of retail space, including anchor stores and smaller shops.

The start-up costs for the project will be approximately $15 million.

The mall will be open for business 12 hours a day, seven days a week.

The mall’s primary target market will be middle-income shoppers in the local area.

The mall will have an initial occupancy rate of 75%, with an average rent of $25/square foot.

The mall will offer amenities such as a food court, movie theater, and play area.

A team of experienced retail professionals will manage the mall.

The mall will generate approximately $20 million in gross sales in its first year of operation.

The mall will generate a positive cash flow by the end of its first year of operation.

The mall will have an average annual occupancy rate of 90% over the next five years.

Financial Projections

All tables in PDF

• What is a shopping mall business plan? A shopping mall business plan is a document that outlines the operational and financial objectives of a shopping mall. It typically includes market analysis, marketing strategies, financial projections, operational details, and other information necessary to start and operate a successful shopping mall. The plan should also outline strategies for managing the mall, including leasing strategies, customer service, and marketing.
• Strip mall : A strip mall, also known as a strip center, is a shopping center that consists of a row of storefronts, typically with surface parking in front.
• Enclosed mall: An enclosed mall, or indoor mall, is an indoor shopping center that usually features a variety of stores and restaurants.
• Outlet mall: An outlet mall is a shopping center that features discounted, name-brand merchandise from various stores.
• Super regional mall: A super-regional mall is a large shopping center with numerous department stores, specialty stores, and restaurants.
• Lifestyle mall: A lifestyle mall is a shopping center with a mix of upscale retailers, restaurants, entertainment venues, and services.
• What are the main sources of revenues and expenses for a shopping mall? The main sources of revenue for a shopping mall include retail sales from stores, rental income from tenants, and income from food courts and other amenities. Retail sales are generated from the stores within the mall, which typically includes clothing stores, shoe stores, and other specialty shops. Rental income is generated from tenants who pay to occupy space in the mall. Finally, income from food courts, movie theaters, and other amenities can be a significant source of revenue. The main expenses for a shopping mall include property taxes, rent payments, utilities, maintenance costs, and marketing expenses. Property taxes are typically based on the assessed value of the mall’s property. Rent payments are made to the mall’s landlord and to the tenants who occupy space in the mall. Utilities include electricity, water, sewer, and other services. Maintenance costs include the repair and upkeep of the mall’s grounds and facilities. Finally, marketing expenses include advertising, promotions, and other activities to attract customers to the mall.
• How do you get funding for your shopping mall business plan? One of the most common ways to fund a shopping mall business plan is to approach investors. This can be done through a variety of options, such as through angel investors, venture capitalists, private equity firms, and crowdfunding platforms. Through these sources, investors can provide funding in exchange for equity in the business, meaning that they will be part-owners of the mall. Additionally, some investors may provide debt financing, which involves the mall receiving a loan from the investor that must be paid back, usually with interest. Other sources of funding may include grants and government programs, bank loans, and personal savings.

Download Shopping Mall Business Plan in PDF

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Home » Sample Business Plans » Real Estate

How to Write a Shopping Mall Business Plan [Sample Template]

Are you about starting a shopping mall? If YES, here is a complete sample shopping mall business plan template & feasibility report you can use for FREE . One of the good businesses that you can start that will guarantee you steady income for a very long time with little or no stress is building a shopping mall.

With the right location, top-notch facility and good marketing skills, you can accommodate top profile retailers and businesses who would want to run their business from your facility. But opening up a shopping mall requires pretty huge startup capital; it also needs solid planning, and attention to detail in order to keep your business profitable.

A Sample Shopping Mall Business Plan Template

1. industry overview.

A shopping mall is a modern, essentially North American, term for a form of shopping area or shopping center in which one or more buildings form a complex of shops with interconnecting walkways, usually indoors. It is on record that in 2017, shopping malls accounted for 8 percent of retailing space in the united states.

The Shopping Mall Management industry consists of companies that develop, lease, maintain, repair and secure large commercial property in exchange for rental payments from retailers and businesses. For industry operators, rental income generates the largest portion of industry revenue with income from property management fees following.

Industry revenue primarily fluctuates in line with rental rates and occupancy levels. During a five-year period, the price of commercial real estate, benchmarked by the Green Street Commercial Property Price Index, grew at an estimated annualized rate of 5.8 percent. Furthermore, retail vacancy rates dwindled as mall foot traffic steadily grew due to boost in disposable income and consumer spending

The Shopping Mall Management industry is indeed a growing sector of the economy of the United States of America and it generates a over $23 billion annually from more than 8,326 shopping malls management companies. The industry is responsible for the employment of over 44,292 people.

Experts project that the industry will grow at a 0.2 percent annual rate between 2013 and 2018. The companies holding the largest market share in the Shopping Mall Management industry are Simon Property Group Inc. and Brookfield Property REIT Inc.

Research conducted by IBISWORLD reveals that over the past five years, the Shopping Mall Management industry has grown by 0.2 percent to reach revenue of $23bn in 2018. In the same time frame, the number of businesses declined by -2.4 percent and the number of employees declined by -2.2 percent.

The shopping mall line of business is very open to any aspiring entrepreneur who has the capital and capacity to open and run his or her shopping malls. Just ensure that your facility is located in an environment with the right demography and you will just be fine.

2. Executive Summary

Simone Cooper® Shopping Malls, Inc. is a licensed shopping mall management business. We have been able to secure a standard and well – positioned facility in a central district in 8322 Sheldon Road, Elk Grove, CA 94624. We are set to compete in the highly competitive shopping mall management industry not only in Elk Grove – California, but throughout the United States market because we intend building and opening our facilities in key cities across the United States.

Simone Cooper® Shopping Malls, Inc. will run a standard shopping mall that will be involved in the rental of commercial space, property management services, consulting, shop appraisal and listing services, construction services and other related services. Our business goal is to become one of the leading shopping mall management companies with world class shopping malls in the United States.

Our workers are going to be selected from a pool of certified, creative and highly experienced workers in and around Elk Grove – California. We will make sure that we take our workforce through the required training that will position them to meet the expectation of the company.

At Simone Cooper® Shopping Malls, Inc., our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Simone Cooper® Shopping Malls, Inc. is owned by Simone Cooper. A civil engineer, astute business man and core professional with hands – on experience in running shopping malls.

3. Our Products and Services

Simone Cooper® Shopping Malls, Inc. was established with the aim of maximizing profits in the shopping malls management industry. We want to compete favorably with the leading shopping malls in the United States which is why we have put in place a competent team that will ensure that our facilities meet and even surpass our customers’ expectations.

We will work hard to ensure that Simone Cooper® Shopping Malls, Inc. is not just accepted by retailers and businesses in Elk Grove – California, but also in other cities in the United States of America where we intend opening chains of shopping malls.

Our facilities and services are listed below;

• Rental of commercial spaces in our shopping malls
• Property management services
• Consulting, appraisal and listing services for shops in our shopping malls
• Construction of shopping malls
• Other related services.

4. Our Mission and Vision Statement

• Our vision is to establish a standard shopping mall management company whose facility and brand will not only be accepted in Elk Grove – California, but also in other cities in the United States of America.
• Our mission is to provide standard shopping malls and shopping mall management services that can attract some of the leading retailers, commercial offices, hairstylists, barbers and similar businesses who may not want to shoulder the responsibilities of owning a standard shop facility in a busy business district.
• We want to build a shopping mall management brand that can favorably compete with other leading brands in the industry.

Our Business Structure

We intend starting small in Sheldon Road, Elk Grove – California, but hope to grow big in order to compete favorably with leading companies in the industry both in the United States and on a global stage. We are aware of the importance of building a solid business structure that can support the kind of world class business cum brand we want to own.

We will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer
• Project Manager

Human Resources and Admin Manager

• Sales and Marketing Executive

Facility Manager

Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Project Manager:

• Serve as project manager of the organization; works directly with employees
• Develops strategic plan by studying the trends in the industry and financial opportunities; presenting assumptions; recommending objectives.
• Evaluates building plans and permits
• Reviewing and approving plans that meet building codes, local ordinances and zoning regulations
• Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
• Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
• Maintains quality service by establishing and enforcing organization standards.
• Makes certain that the project team performs efficiently, coordinates employee efforts, and facilitate communications between management and the workforce
• Ensures that the organization works in line with international best practices.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversee the smooth running of the daily office activities.

Sales and Marketing Manager

• Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Model demographic information and analyze the volumes of transactional data generated by customer
• Identifies development opportunities; follows up on development leads and contacts
• Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Create new markets cum businesses for the organization
• Empower and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization
• Responsible for making sure that our shopping mall facilities meet the needs of the people that rent, lease or purchase them
• In charge of leasing and renting out accommodations and other properties under our ‘to let list’
• In charge of inspecting and reporting on the structural attributes of a building
• Responsible for evaluating the component systems of a building (electrical, fire, roofing and plumbing)
• Assesses compliance with building, electrical, plumbing and fire codes
• Ensuring that basic facilities, such as water and heating, are well-maintained
• Ensuring that facilities meet government regulations and environmental, health and security standards
• Overseeing building projects, renovations or refurbishments
• In charge cleaning, security and parking, to make sure the surrounding environment is in a suitable condition to work
• Welcomes clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the Human Resource and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Simone Cooper® Shopping Malls, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured shopping mall management business that can favorably compete in the industry in the United States and the world at large.

Here is a summary from the result of the SWOT analysis that was conducted on behalf of Simone Cooper® Shopping Malls, Inc.;

Our shopping mall is located in Sheldon Road, Elk Grove – California which happens to be one of the busiest commercial centers in California. We can boast of having a result and service driven team and we have access to pool of finance from our partners who are accredited investors. These are some of the strength of business.

As a new shopping mall management company in Elk Grove – California, it might take some time for us to break into the market and gain acceptance especially from top profile clients in the already saturated industry; that is perhaps our major weakness. Another weakness is the ability to compete with big – time players in the real estate industry when it comes to bidding for choice facilities.

• Opportunities:

The opportunities available to a business such as ours are enormous because, as the number of businesses increases, demand for commercial and retail space is assumed to increase at a parallel rate. Additional businesses entering the US economy provide a greater pool of potential clients for mall managers. Interestingly, the number of businesses in the United States is expected to increase in the coming years, presenting a potential opportunity for the industry

It is a fact that online shopping poses a direct threat to traditional brick-and-mortar retailers. With more consumers opting to shop online, many retailers have shuttered physical locations to preserve margins.

As more stores downscale operations, a business such as ours lose out on rent, thereby depleting our projected revenue. E-commerce sales are expected to increase in 2018, posing a possible threat to shopping mall management companies.

7. MARKET ANALYSIS

• Market Trends

The national retail vacancy rate has fallen during the five-year period. The fact that renting a shopping mall can be a cost-effective and efficient solution for retailers and related businesses and workers makes it an ideal Business model for retailers who just want to start small and grow big. The continued rise of online shopping will pressure brick-and-mortar locations out of malls.

This business model gives room for aspiring retailers and businesses to pitch their business tent in highbrow areas without necessarily breaking the bank. All they need to do is to ensure that their products and services are top – notch and they won’t have to spend loads of cash maintaining the facility or marketing their services.

It is the responsibility of the shopping mall management company to promote and maintain their facility. As a matter of fact, retailers are finding their freedom while renting small studio and shop spaces in larger, collective shopping malls.

8. Our Target Market

Before starting our business in Sheldon Road, Elk Grove – California, we conducted a thorough market survey and feasibility studies and we are certain that there are loads of retailers, business centers, hairstylists, barbers, tanning specialist and nail specialists et al who need large, medium and small spaces in our shopping mall facility to run their business.

In view of that, we have created strategies that will enable us reach out to various groups of people who we know will need our services. Below is a list of the people that we will specifically market our facility to;

• Business Centers
• Hairstylists
• Manicure and pedicure specialists
• Tanning specialists

Our competitive advantage

Surviving in the business world as a shopping mall management company operator requires more than your expertise, creativity, and knowing how to deliver standard services but also how to network with key people that matter; entrepreneurs that can rent your shops / spaces.

Because of the competitive nature of the shopping mall management business, there is an increasing degree of related business activities, with big players dominating the market. We are quite aware that to be highly competitive in the industry, you are not only expected to make available safe shops, and office spaces, but you must be able to meet set targets.

Our competitive advantage is anchored on the state – of – the art shopping mall facilities that we have. We also have a team of certified and experience workers. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

Another strength that counts for us in the location of our shopping mall management; it is located in one of the most must busiest places in Sheldon Road, Elk Grove – California.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups shopping mall managements businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of Income

Simone Cooper® Shopping Malls, Inc. is established with the aim of maximizing profits in the shopping malls management industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Simone Cooper® Shopping Malls, Inc. will generate income by offering the following facility and services;

10. Sales Forecast

One thing is certain, there would always be business owners who would need to cut cost of starting the business hence need to rent a small space in a shopping mall facility.

We are well positioned to take on the available market in the industry in Elk Grove – California and we are quite optimistic that we will meet our set target of renting out all the spaces that is available in our facility and generating enough income/profits from the first six month of operation and grow our shopping mall management business to enviable heights.

We have been able to examine the shopping mall management market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Simone Cooper® Shopping Malls, Inc. It is based on the location of our shopping mall facility and of course our target market;

• First Fiscal Year:  $1 million
• Second Fiscal Year:  $2.5 million
• Third Fiscal Year:  $4 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same facility as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Our marketing strategies will be directed towards achieving specific objectives that will support the strategic goals of the organization. The truth is that all that we do will be geared towards creating new market channels, increasing sales and our market share.

Our unique selling proposition is that we are well positioned, we offer state of the art facility/services and people can easily access our facility. Our sales and marketing team will be recruited based on their vast experience in the shopping mall management industry and they will be trained on a regular basis so as to meet their targets.

Our corporate goal is to grow Simone Cooper® Shopping Malls, Inc. to become one of the top 10 shopping mall management brands in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Sheldon Road, Elk Grove – California but also in other cities in the United States of America.

Simone Cooper® Shopping Malls, Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Open our shopping malls with a big party.
• Advertise our shopping malls on national dailies, local TV and radio stations
• Promote our business online via our official website and all available social media platforms
• Introduce our business by sending introductory letters alongside our brochure to retailers, business operators, hair stylists, barbers, tanning specialists and manicure and pedicure specialist and key stake holders in Elk Grove – California
• Print out fliers and business cards and strategically drop them in offices, sport facilities, libraries, public facilities and train stations et al.
• Make use of attractive hand bills to create awareness and also to give direction to our shopping mall facility
• Adopt direct mailing coupon marketing approach
• Position our signage / flexi banners at strategic places in and around Elk Grove – California

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for retailers and business center operators in the whole of Elk Grove – California and other cities in the United States of America where we intend opening our chains of shopping mall facilities which is why we have made provisions for effective publicity and advertisement of our business.

Below are the platforms we intend to leverage on to promote and advertise Simone Cooper® Shopping Malls, Inc.;

• Place adverts on both print (newspapers and real estate magazines) and electronic media platforms
• Sponsor relevant community – based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our tanning services
• Install Bill Boards in strategic locations all around Elk Grove – California
• Distribute our fliers and handbills in target areas
• List our shopping mall management business in local directories / yellow pages
• Advertise our shopping mall facilities in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized facility and services) and we don’t intend to charge less than what our competitors are charging their clients.

• Payment Options

The payment policy adopted by Simone Cooper® Shopping Malls, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Simone Cooper® Shopping Malls, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via Point of Sale Machine (POS)
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for renting our shops and office spaces without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget of establishing a standard shopping mall management business and here are the key areas where we will spend our startup capital;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
• The total cost for hiring Business Consultant – $5,000.
• The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• The total cost for purchasing a landed property for the construction of our shopping mall – $1 million.
• The total cost for building a standard shopping mall – $4 million
• Other start-up expenses including stationery – $1000
• Phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $200,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• The cost for our grand opening party – $15,000
• Miscellaneous – $10,000

Going by the report from the market research and feasibility studies conducted, we will need about $5.5 million to successfully construct a medium scale but standard shopping mall business in the United States of America.

Generating Funds/Startup Capital for Simone Cooper® Shopping Malls, Inc.

No matter how fantastic your business idea might be, if you don’t have the money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business. Raising startup capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Simone Cooper® Shopping Malls, Inc. is a private business that is solely owned and financed by Mr. Simone Cooper and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the Bank

N.B: We have been able to generate about $1.5 million (Personal savings $1 million and soft loan from family members $500,000) and we are at the final stages of obtaining a loan facility of $4 million from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Simone Cooper® Shopping Malls, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to lease our shopping mall spaces a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Simone Cooper® Shopping Malls, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

We know if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard facility and reconstructing the facility to fit into the kind of shopping mall facility we want to manage: Competed
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed office furniture, office equipment, software applications, electronic appliances and facility facelift : In progress
• Creating official website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress

More on Real Estate

How to Create a Business Plan for a Shopping Mall: A Complete Guide

By henry sheykin, get full bundle.

Welcome to our blog post on How To Write a Business Plan for Shopping Mall and Retail Center Construction in 9 Steps: Checklist. In this article, we will guide you through the process of revolutionizing the shopping experience with a multi-level retail center that incorporates state-of-the-art technology, sustainable design, and unique pop-up shops curated by local entrepreneurs.

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The shopping mall and retail center industry is experiencing significant growth and transformation. According to recent statistics, the global retail industry is projected to reach a value of $31.88 trillion by 2023, with an annual growth rate of 5.3%. This presents a tremendous opportunity for innovative and forward-thinking businesses in the retail sector.

Now, let's dive into the nine essential steps to write a business plan for your shopping mall and retail center construction project:

• Identify your target market and choose a strategic location.
• Conduct thorough market research and analysis to understand your customers' needs and preferences.
• Assess the competition to identify your unique selling points and stand out in the market.
• Determine the feasibility and financial viability of your project by performing a detailed analysis of costs, revenue projections, and return on investment.
• Create a comprehensive construction budget to ensure you have a clear understanding of the financial resources required for the project.
• Develop a robust and tailored marketing strategy to effectively promote your retail center to your target audience.
• Establish partnerships with local entrepreneurs and secure funding from investors or financial institutions to support your project.
• Hire an experienced project management team to oversee and execute the construction process efficiently.
• Ensure you obtain all necessary permits and approvals from relevant authorities to comply with legal and regulatory requirements.

By following these nine steps, you will be well-equipped to write a comprehensive business plan for your shopping mall and retail center construction project. Stay tuned for our upcoming articles, where we will delve deeper into each step, providing you with invaluable insights and tips.

Identify Target Market And Location

Before embarking on constructing a shopping mall and retail center, it is crucial to identify your target market and select an ideal location for your venture. Understanding your potential customers and finding the right location are key factors in the success of your business.

Start by conducting thorough market research to determine the demographics, preferences, and shopping behaviors of your target market. This information will help you tailor your retail center to meet their needs and preferences. Additionally, it will allow you to curate a collection of pop-up shops that align with the tastes and interests of your target customers.

Consider the location carefully when choosing the ideal spot for your shopping mall and retail center. Evaluate factors such as accessibility, visibility, and proximity to your target market. Is the location easily accessible by public transportation? Does it have ample parking space? Is it located in a high-traffic area? These are all important considerations that will impact the foot traffic and potential success of your retail center.

Here are a few tips to help you in identifying your target market and selecting the right location:

• Research local market trends and consumer behaviors to gain insights into your potential customers.
• Conduct surveys or interviews with your target market to understand their preferences and shopping habits.
• Consider partnering with a retail consultant or market research firm to gain a deeper understanding of the market.
• Visit potential locations personally to assess the surrounding area and its suitability for your retail center.
• Engage with local business associations and chambers of commerce to gather information about the area and its potential for growth.

By thoroughly researching your target market and meticulously selecting the perfect location, you are setting the foundation for a successful shopping mall and retail center construction venture.

Conduct Market Research And Analysis

When embarking on the construction of a shopping mall and retail center, conducting thorough market research and analysis is crucial. This step will provide valuable insights into the demand for your project and help you make informed decisions throughout the planning and development process.

One essential aspect of market research is identifying your target market. Understanding the demographics, preferences, and shopping behaviors of your potential customers will enable you to tailor your retail center to meet their needs. Consider factors such as age, income level, and lifestyle when defining your target market.

Furthermore, it is important to assess the overall market dynamics in the area where you plan to build your shopping mall. Evaluate both the current and projected population growth, economic conditions, and consumer spending patterns. This information will aid in determining the potential demand for retail spaces and the viability of your project.

Market Research Tips:

• Diversify data sources: Obtain information from various sources such as government statistics, industry reports, and customer surveys to ensure a comprehensive understanding of the market.
• Analyze competition: Identify existing and upcoming competitors in the area and evaluate their offerings, pricing strategies, and target markets. This will help you position your retail center strategically.
• Engage with the community: Connect with local business associations, chambers of commerce, and potential customers to gather insights and build relationships that can support your project.
• Consider future trends: Stay updated on emerging retail trends, technological advancements, and sustainable practices to incorporate innovative elements into your shopping mall design and offerings.

By conducting thorough market research and analysis, you will gain a deep understanding of your target market, assess the market dynamics, and identify key competitors. Armed with this valuable information, you will be equipped to make informed decisions that will drive the success of your shopping mall and retail center construction project.

Assess Competition

Assessing the competition is a crucial step in developing a successful business plan for a shopping mall and retail center construction. Understanding the existing and potential competitors in your target market will allow you to position your retail center effectively and differentiate it from others.

First and foremost, identify your direct and indirect competitors . Direct competitors are those retail centers that offer similar products or services in the same geographical area. Indirect competitors, on the other hand, may not offer the same products or services but still compete for the same target market.

Next, analyze their strengths and weaknesses . Look at what your competitors are doing well and areas where they may be lacking. This analysis will help you identify opportunities for differentiation and improvement within your own retail center.

Additionally, examine their pricing strategy, marketing tactics, and customer experience . Understanding how your competitors position themselves in the market and attract customers will enable you to develop a unique value proposition and marketing strategy for your own retail center.

During the competitive analysis, look for any gaps or untapped opportunities in the market that your retail center can fulfill. These could be unmet customer needs, underserved demographics, or emerging trends that your competitors have not capitalized on.

Tips for Assessing Competition:

• Visit competitor retail centers to observe their operations, store layouts, and customer dynamics.
• Conduct online research to gather information about their online presence, customer reviews, and social media engagement.
• Engage with the local community and target market to understand their perceptions and preferences regarding existing retail centers.
• Stay updated on industry trends, emerging technologies, and innovative retail concepts to gain a competitive edge.

Determine Project Feasibility And Financial Viability

Before embarking on any construction project, it is crucial to determine the feasibility and financial viability of the endeavor. This step involves carefully analyzing various factors that can affect the success of the project, such as market demand, cost implications, and potential return on investment.

Market Demand: The first aspect to consider is the market demand for a multi-level retail center. Conduct a thorough market analysis to understand the needs and preferences of the target market. This will help determine if there is sufficient demand for the proposed shopping mall in the chosen location.

Cost Implications: Assessing the cost implications is vital to ensure that the project remains within budget and generates a reasonable return on investment. Calculate the estimated construction costs, including land acquisition, permits, materials, labor, and other related expenses. Consider consulting with professionals in the construction industry to obtain accurate cost estimates.

Potential Return on Investment: Analyze the potential return on investment by projecting the expected revenue and profit margins. Consider factors such as rental income, sales from the curated pop-up shops, and additional revenue streams like advertising or event hosting. Compare these projections with the estimated construction costs to determine if the project is financially viable.

• Engage with local real estate experts to understand the market dynamics and trends.
• Consider conducting a feasibility study to gain deeper insights into the project's viability.
• Explore potential revenue streams beyond traditional retail, such as hosting events or offering unique experiences.
• Factor in future growth potential and scalability of the retail center.

Create A Detailed Construction Budget

Creating a detailed construction budget is essential for the successful completion of any shopping mall and retail center construction project. A well-designed budget helps to ensure that all necessary expenses are accounted for and that the project remains financially viable.

When creating the budget, it is important to thoroughly analyze all aspects of the construction project. This includes determining the cost of materials, labor, equipment, permits, and any additional expenses that may arise during the construction phase.

Here are some key considerations to keep in mind when creating a detailed construction budget:

• Be realistic: Take into account the current market conditions and prices of materials and labor.
• Include contingency funds: Allocate a portion of the budget for unforeseen expenses or changes that may arise during the construction process.
• Consider sustainability: Factor in any extra costs associated with incorporating sustainable design elements into the construction.
• Engage with suppliers and contractors: Get accurate quotes and estimates from suppliers and contractors to ensure that the budget is as accurate as possible.
• Regularly review and update the budget throughout the construction process to account for any changes or unforeseen expenses.
• Consult with a financial advisor or construction expert to help you create a realistic and comprehensive budget.
• Consider building a buffer into the budget to allow for potential cost overruns.

By creating a detailed construction budget, you can effectively manage the financial aspects of your shopping mall and retail center construction project. This will help ensure that the project stays on track and within budget, allowing for a successful and profitable outcome.

Develop A Comprehensive Marketing Strategy

When it comes to successfully launching a multi-level retail center, a strong marketing strategy is essential. It allows you to create awareness, generate excitement, and attract potential customers. Here are some important steps to develop a comprehensive marketing strategy:

• Identify your target audience: It is crucial to understand your target market and create buyer personas. This will help you tailor your marketing efforts to reach the right audience.
• Set clear marketing goals: Establish specific and measurable goals that align with your business objectives. Whether it's increasing footfall, driving online sales, or securing long-term leases, these goals will guide your marketing activities.
• Define your unique selling proposition (USP): Highlight what sets your retail center apart from competitors. Focus on its state-of-the-art technology, sustainable design, and curated pop-up shops to create a compelling message.
• Create a strong online presence: Leverage the power of digital marketing by developing a professional website, using social media platforms, and implementing search engine optimization (SEO) techniques to ensure your retail center is easily discoverable online.
• Engage in content marketing: Share valuable and engaging content through blogs, videos, and social media posts. Provide updates on construction progress, sneak peeks of pop-up shops, and expert advice to build anticipation and create a loyal following.
• Implement targeted advertising campaigns: Utilize both online and offline advertising channels to reach your target audience effectively. Consider Facebook ads, Google AdWords, local newspaper ads, and outdoor billboards to maximize exposure.
• Organize captivating events: Create memorable experiences by organizing launch parties, fashion shows, and collaborative events with local entrepreneurs. These events not only attract potential customers but also foster a sense of community around your retail center.
• Collaborate with local influencers or bloggers to amplify your brand's reach.
• Offer incentives such as exclusive discounts or limited-time promotions to incentivize customers to visit your retail center.
• Regularly track and analyze your marketing efforts to identify what strategies are working and make necessary adjustments.

Establish Partnerships And Secure Funding

In order to successfully execute the construction of your shopping mall and retail center, it is crucial to establish strong partnerships and secure adequate funding. These partnerships will not only provide financial support but also offer valuable expertise and resources to bring your business idea to life.

1. Identify potential partners: Research and identify potential partners who share your vision and have experience in the construction and retail industry. Look for partners who can provide financial backing as well as contribute their expertise and resources.

2. Network and attend industry events: Attend industry events, conferences, and trade shows to meet potential partners who can support your project. These events provide opportunities to connect with industry professionals and discuss potential collaborations.

3. Create a compelling pitch: Develop a persuasive pitch that outlines the benefits and potential returns of investing in your project. Clearly articulate how your multi-level retail center will revolutionize the shopping experience and attract a diverse customer base.

4. Approach potential investors: Reach out to potential investors, including private equity firms, venture capitalists, and banks, who specialize in financing construction projects and commercial developments. Present your business plan, construction budget, and marketing strategy to demonstrate the financial viability and potential profitability of your project.

5. Consider government grants and incentives: Research government grants and incentives that support sustainable construction and economic development projects. Explore opportunities for public-private partnerships that can provide additional funding and resources.

• Highlight the unique features and benefits of your project to attract potential partners and investors.
• Build relationships with industry professionals through networking and attending relevant events.
• Prepare a comprehensive and well-researched business plan to instill confidence in potential investors.
• Consider seeking guidance from a financial advisor or consultant to optimize your funding strategy.

By establishing strong partnerships and securing adequate funding, you will be equipped with the necessary resources and expertise to successfully execute the construction of your shopping mall and retail center. These partnerships will not only ensure financial support but also provide valuable insights and support throughout the entire process.

Hire An Experienced Project Management Team

Hiring an experienced project management team is crucial for the successful execution of your shopping mall and retail center construction project. This team will be responsible for overseeing and coordinating all aspects of the project, from procurement and scheduling to quality control and budget management.

When choosing a project management team, it is important to consider their expertise in the field of construction and their track record of successfully delivering similar projects on time and within budget. Look for professionals who have a deep understanding of construction processes, regulatory requirements, and best practices in the industry.

Tips for hiring an experienced project management team:

• Seek recommendations from other business owners or industry professionals who have previously undertaken construction projects.
• Interview potential project managers to assess their experience, knowledge, and communication skills.
• Ask for references from past clients and take the time to check them.
• Consider hiring a team that has experience working with shopping mall and retail center projects specifically, as they will have a deeper understanding of the unique challenges and requirements of these types of developments.
• Ensure that the project management team has the necessary certifications and licenses required by local authorities.
• Discuss the project timeline and budget with the potential project management team to ensure they are able to meet your expectations.

By hiring an experienced project management team, you can mitigate risks, streamline the construction process, and ensure that your shopping mall and retail center is completed on time, within budget, and to the highest quality standards.

Obtain Necessary Permits and Approvals

In order to proceed with the construction of your shopping mall and retail center, it is crucial to obtain the necessary permits and approvals from the relevant authorities. This step ensures compliance with local regulations and safeguards the legality and safety of your project. Here are some important points to consider:

• 1. Research local regulations: Begin by thoroughly researching and familiarizing yourself with the specific permits and approvals required for constructing a shopping mall and retail center in your chosen location. Different municipalities may have varying requirements, so it is essential to be well-informed.
• 2. Identify the responsible authorities: Determine the specific government agencies or departments responsible for granting the permits and approvals you need. This could include zoning boards, building departments, fire departments, environmental agencies, and others.
• 3. Compile necessary documentation: Prepare all the required documentation and complete any necessary forms or applications. This may include architectural plans, site surveys, environmental impact assessments, engineering reports, and financial statements.
• 4. Secure support from experts: Engage the services of experienced professionals such as architects, engineers, and lawyers who are well-versed in the local regulations and can guide you through the permit application process. They can help ensure that your documentation is accurate, complete, and meets all requirements.
• 5. Submit your application: Once you have compiled all the necessary documentation and completed the required forms, submit your permit application to the relevant authorities. Be aware of any filing deadlines and ensure that your application is submitted well in advance to allow for processing time.
• 6. Follow up regularly: Keep track of the progress of your permit application and regularly follow up with the authorities to ensure that it is moving forward. Address any inquiries or requests for additional information promptly and cooperatively.
• 7. Address any objections or concerns: If there are any objections or concerns raised by the authorities or members of the community, address them in a professional and respectful manner. Work towards finding mutually agreeable solutions to ensure that your project can proceed.
• 8. Receive approvals: Once your permit application has been reviewed and evaluated, you will receive official approvals from the relevant authorities. These approvals will grant you the legal authorization to proceed with the construction of your shopping mall and retail center.

Tips for a Smooth Permitting Process:

• Be proactive and start the permitting process early to allow for potential delays or unexpected requirements.
• Communicate openly and effectively with the authorities, providing clear and concise information to facilitate their review process.
• Maintain a cooperative and collaborative approach when addressing objections or concerns, as this can help build positive relationships and foster support for your project.
• Stay organized and keep copies of all your submitted documents, correspondence, and approvals for future reference.
• Stay updated with any changes in local regulations or requirements that may impact your project, and adjust your plans accordingly.

In conclusion, creating a business plan for shopping mall and retail center construction in nine steps is crucial for the success of your project. By identifying your target market and location, conducting market research, assessing competition, and determining project feasibility, you will lay a strong foundation for your venture.

It is essential to create a detailed construction budget, develop a comprehensive marketing strategy, and establish partnerships to secure the necessary funding. Hiring an experienced project management team and obtaining the required permits and approvals will ensure smooth execution and adherence to regulations.

With careful planning and consideration, you can revolutionize the shopping experience by incorporating state-of-the-art technology, sustainable design, and unique pop-up shops curated by local entrepreneurs. By following this checklist and utilizing professional expertise, you can navigate the complexities of building a shopping mall and retail center successfully.

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SHOPPING MALL BUSINESS PLAN TEMPLATE

Explore Options to Get a Business Plan.

Introduction

A shopping mall is a large, often indoor, building with various stores representing many different businesses. Shopping malls are usually located in high-traffic areas near busy intersections or along major highways. The first shopping mall in the United States was the Country Club Plaza in Kansas City, Missouri, which opened in 1922. Today, thousands of shopping malls in the United States are popular destinations for shoppers and tourists alike. If you are thinking about starting your shopping mall, there are a few things you need to know. First, you will need to find a suitable location. Second, you will need to obtain the necessary financing. And third, you will need to develop a business plan. Starting a shopping mall can be a rewarding and profitable venture with careful planning and execution.

Global Market Size

The global market for shopping malls is estimated to be worth $1.2 trillion in 2015, according to a report by JLL. The U.S. alone is home to over 1,200 malls, which account for about 10 percent of the country's retail space. Several factors have contributed to the growth of shopping malls around the world. One is the rise of the middle class in many countries, which has led to more people having disposable income to spend on shopping. Another is the growth of online shopping, which has made it easier for people to compare and find the best deals on products. Despite the growth of the shopping mall industry, malls face several challenges. One is the rise of e-commerce, which has made it easier for people to shop from the comfort of their homes. Another challenge is the economic slowdown in many countries, which has led to less spending on non-essential items like clothing and shoes. Despite these challenges, the shopping mall industry is expected to grow in the coming years. This growth will be driven by the continued rise of the middle class in many countries and the growth of online shopping.

Target Market

If you're thinking of starting a shopping mall business, one of the first things you need to do is identify your target market. Your target market is the group of people who are most likely to shop at your mall. To identify your target market, you need to consider a few factors, including:

-The location of your mall. If you're in a densely populated area, your target market will likely be different than in a more rural area.

-The type of products or services you'll be offering. If you're selling high-end fashion, your target market will be different than if you're selling budget-friendly fashion.

-The demographics of your potential shoppers. This includes factors like age, income, gender, and so on. Once you've considered all of these factors, you should have a good idea of who your target market is. You can start planning your marketing and advertising strategies to reach these potential shoppers.

Business Model

Many different business models can be used when starting a shopping mall business. The most common and successful model is the anchor tenant model. This model relies on having one or more large anchor tenants, such as a department store or a grocery store, that act as draws for customers. The anchor tenant(s) then leases space from the shopping mall owner, and the smaller stores in the mall lease space from the anchor tenant(s). This model is successful because it gives customers a reason to come to the shopping mall and smaller stores with a built-in customer base. Another standard business model for shopping malls is the specialty leasing model. In this model, the shopping mall owner leases space to a variety of different stores that all specialize in a specific type of merchandise. This can be anything from a mall specializing in clothing stores to a mall specializing in electronic stores. The advantage of this model is that it can be easier to attract customers to a shopping mall with a specific type of merchandise they are looking for. Whichever business model is used, it is essential to have a well-thought-out business plan for the shopping mall. This plan should include a detailed marketing strategy, a financial plan, and a plan for operations.

Competitive Landscape

As you develop your business plan and start to think about opening a shopping mall, it's essential to understand the competitive landscape. Who are your potential competitors? What are their strengths and weaknesses? How can you position your shopping mall to succeed in the face of competition? Here are a few things to keep in mind as you research the competitive landscape for your shopping mall business:

• Know your market. Before you can understand the competitive landscape, you need to have a good grasp of the market you're targeting. Who are your potential customers? What are their needs and wants? What are their shopping habits? The more you know about your target market, the better you'll understand the competitive landscape.
• Understand your competition. Once you know your market, it's time to start researching your potential competitors. Who are they? What do they offer? What are their strengths and weaknesses? What is their market share? The more you know about your competition, the better you'll be able to position your own business for success.
• Develop a competitive advantage. Once you understand the competitive landscape, you must develop a competitive advantage. What can you offer that your competitors don't? What can you do better than them? If you can't find a way to stand out from the crowd, your shopping mall is likely to struggle.
• Keep an eye on the future. The competitive landscape is constantly changing, so keeping an eye on the future is essential. What are new shopping malls being developed in your area? What changes are happening with your existing competitors? You'll be better prepared to adapt and change as the landscape shifts by staying ahead of the curve.

Now that you have all the information you need to start your own shopping mall business, it's time to take the next step. If you're unsure where to start, consider hiring a professional business consultant to help you get started. With the proper planning and execution, your shopping mall can be a success.

• Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
• Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
• Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
• Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
• Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
• Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
• Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
• Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
• Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
• Business plans allow you to position your brand by understanding your company’s role in the marketplace.
• Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
• Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.
• Executive Summary
• Company Overview
• Industry Analysis
• Consumer Analysis
• Competitor Analysis & Advantages
• Marketing Strategies & Plan
• Plan of Action
• Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

To complete your perfect Shopping Mall business plan, fill out the form below and download our Shopping Mall business plan template. The template is a word document that can be edited to include information about your Shopping Mall business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

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Shopping Mall Business Plan Template FAQs

What is a business plan for a/an shopping mall business, how to customize the business plan template for a shopping mall business, what financial information should be included in a shopping mall business plan, are there industry-specific considerations in the shopping mall business plan template, how to conduct market research for a shopping mall business plan, what are the common challenges when creating a business plan for a shopping mall business, how often should i update my shopping mall business plan, can i use the business plan template for seeking funding for a shopping mall business, what legal considerations are there in a shopping mall business plan.

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Ecommerce may be booming but opening and running successful shops and retail companies of the bricks-and-mortar variety is still a life goal for many.

If you’re planning to make that dream a reality, writing a thorough business plan should be at the top of your to-do list — here’s why.

What is a business plan?

Your business plan is essentially your company’s strategic blueprint. It explains what your business idea is and sets out your goals and how you will achieve them, while considering the environment you’ll operate in.

Typically, it’s the first proper step of getting your retail business off the ground and can be used to get investors, grants, loans or other funding for your company before you open your shop doors.

Something that can also help your planning is a Business Model Canvas . It is a handy tool to help you build out your business plan.

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Do independent shops really need a business plan?

The short answer is yes. Of course it’s possible to do well with a good idea and a bit of luck but you’re more likely to succeed with a solid business plan to help guide your decision-making. Researching your plan will also help you figure out if your products or services are financially viable and in demand before you launch. Here are three things to consider as part of your business planning process:

1. Location, location, location

For shops and retail companies, whether you’re opening a community greengrocer or an exclusive boutique, one of the most important aspects of your business model is your location. Pulling a plan together will encourage you to think about the most viable location for success, as well as the cost implications.

2. Customers

When creating your business plan, you’ll need to research your potential customers. Documenting who they are, how they behave and the circumstances in which they will shop with you will aid you in determining the stock you will carry and how to effectively promote your store to customers.

3. Pricing model

A big part of any business plan is the financial figures that are included. As part of the planning process, you should be doing detailed research on potential competitors and their prices as well as all the expenses that running your business will incur. This will help you determine the prices that you will charge for the products you sell.

What are the other benefits to having a business plan?

• It looks good to potential partners, investors, lenders and funding bodies, and if you want to apply for a business loan, you’ll most likely need a business plan.
• It will help you work out what your unique selling proposition is, identify threats and challenges, and come up with solutions and coping strategies.
• It will make you set short and long-term SMART goals, such as launching a new website within three months or opening a second shop in year three of trading.
• You can use it to benchmark your performance by comparing your company’s results and achievements with the goals set out in your plan.

If you want to increase the chances of your business being successful, it’s worth having a business plan

How to write a business plan for your shop

Your business plan doesn’t have to be a boring document. Given some investors make their decision to provide funding to start-ups and existing firms based on the people as much as the business itself, your business plan should showcase your passion and personality.

However, certain bodies or individuals who can provide funding will expect you to include specific information. Putting your plan together using the following sections can help you make a strong case for securing the required finance:

• Executive summary
• Business overview
• Audience and market
• Products and services

As we’ve discussed, your business plan will be critical to you running a profitable shop, which is all the more reason to ensure that you are thorough in your approach. Here are some top tips for writing your plan:

Be realistic

It’s unlikely that you will be profitable straight away and sales may show steady growth rather than a massive spike. If your plan includes figures that seem unrealistic, you should justify them.

Accuracy is key

As your business plan will help you make decisions, it’s important the information you base those decisions on is correct. Double check everything. We have some great advice on how to get more accurate figures for your business plan .

As your plan will be used to help you manage your retail business and potentially be shared with others, it’s important to avoid waffle. You can always make use of appendices for supplementary information.

Want help with business plan for shops and retail companies?

Your accountant may be able to give you tips and ideas, or ask your bank if they have a small business adviser you could talk to. If you’re ready to start your research and writing, why not use an online template?

To help you out, we’ve created a business plan template specifically for shops and retail companies with physical stores. It’s free to download and takes you through the process step by step with detailed guidance notes.

Don’t forget that your plan should evolve with your business, so you should revisit and update it regularly. Good luck!

Want to create a business plan for your shop or retail company but not sure how to do it? Download our free and easy-to-use business plan template and you can get started.

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How to Start a Retail Store Business in a Shopping Mall

Last Updated: August 4, 2024 Approved

This article was co-authored by Gina D'Amore . Gina D'Amore is a Financial Accountant and the Founder of Love's Accounting. With 12 years of experience, Gina specializes in working with smaller companies in every area of accounting, including economics and human resources. She holds a Bachelor's Degree in Economics from Manhattanville College and a Bookkeeping Certificate from MiraCosta College. wikiHow marks an article as reader-approved once it receives enough positive feedback. In this case, 80% of readers who voted found the article helpful, earning it our reader-approved status. This article has been viewed 195,746 times.

Opening a retail store in a shopping mall can give you immediate access to an existing flow of potential customers. In addition, your store can benefit from the amenities and structures that already exist in the mall, freeing you from having to create your own. That said, for many stores, the mall is full of competitors that sell similar products. This means that you'll have to price your products competitively and draw customers into your store. Setting up a store in this way is relatively straightforward if you use the following steps.

Planning Your Store

• For example, a store selling expensive, handmade men's shoes would not do well in a mall frequented by mostly lower-income customers.

• For example, an underserved demographic in a given market might be plus-size people or Latin Americans. If you notice a lack of stores serving a particular group in the mall, consider building your offerings around that group. [1] X Research source

• A franchise may be relatively simpler to open, but will limit your own freedom to make business choices. In addition, you usually have to pay a large, upfront franchise fee and make regular payments to the franchisor.

• Your store name should be trademarked.
• Your business name, on the other hand, is the legal name of your business, used on official documents like taxes and your lease contract. If your business is a sole proprietorship, your name is the business name.

Working Out Your Finances

• Some places may ask for multiple months of utility and rent payments upfront.
• Next, work with a floor planner and interior designer to determine the cost of upgrading the interior of your store to meet your needs.
• Consider other expenses you will have to pay before opening, like any materials you will have to buy and inventory costs. Also, consider technology costs—you'll have to purchase some method of collecting payments from your customers.
• Finally, think about monthly expenses you might have, such as paying employees and spending on marketing or public relations. [4] X Research source
• Understand the difference between a fixed cost and a variable cost.
• The costs that do not change every month are called fixed costs. For example, the rent, utilities, and payroll.
• The costs that change every month, such as marketing expenses, are known as variable costs.

• For more, see how to fund a business.

Deciding on a Location

• You should also try to locate your store near complementary stores. For example, a jewelry store might want to locate next to an upscale department store. That way, the stores can attract customers to the same corner of the mall together and both benefit from the targeted traffic they receive.

• Kiosks sit in the middle of mall concourses and usually showcase smaller goods, like phone accessories, jewelry, or watches.
• Mall carts, also called retail merchandising units (RMUs), are smaller than kiosks and are located in common areas within malls. They allow for displays of smaller items and can be used to provide simple services like engraving or watch repair.

Opening for Business

• Remember to create a place for your most important or fastest-selling inventory in a dominant position at the front of the store, right in front of the door. [9] X Research source

• Even experienced retail employees will need training in your specific products and in how you wish them to interact with customers.

• Alternately, you can hold a "soft opening" first, where systems and employees are tested before announcing a grand opening. This guarantees that your store is properly functioning before the grand opening.

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• ↑ https://www.nypl.org/sites/default/files/retail_101_nypl_copy.pdf
• ↑ https://www.inc.com/guides/2010/05/choosing-a-franchise-location.html
• ↑ https://www.inc.com/articles/201108/business-start-up-costs-retail-store.html
• ↑ http://fitsmallbusiness.com/lease-retail-space/

About This Article

Starting up a retail store in a shopping mall is a lot of work, but you can set yourself up for success with the right location and products. Identify a need in the mall or your local market that you can fill. It could be a product such as plus-sized jeans, or a service such as a shoe repair shop. Then, write a business plan that lays out your strategy for operating the store and how you’ll turn a profit. Choose the best available location that meets your space and budget requirements. If you can’t finance your own start-up costs, contact a local bank or apply for a small business loan. You’ll also need to purchase inventory from wholesalers or producers of the items you plan to sell. You can also visit trade shows for your industry to find new, quality products that you can sell. For tips about how to design the inside of your business in a shopping mall, keep reading! Did this summary help you? Yes No

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Shopping Mall Design [Floor Plan and Layout Included]

By: Author Tony Martins Ajaero

Home » Business ideas » Real Estate Industry

There are a wide range of reasons why shopping malls have excelled across the globe. One of those reasons is that it ensures that consumers can make choices from the wide assortment choices of merchandise spread across various categories.

However, it is important to note that shopping malls have grown past the stage of offering consumers just shopping platforms.

These days, you will find that shopping malls are where people love to spend their time. They now feature facilities such as game rooms and gaming arenas, movie theatres, multiplexes, and book shops.

Many now include eateries encompassing fine dining restaurants, fast food corners, dessert points, or even coffee shops.

Steps to Design a Shopping Mall

Market research and feasibility study.

Same as with starting any other business, you need to first start by carrying out extensive market research to ensure you have a good insight into the local demographics and consumer behavior, in addition to the retail trends within the location where you intend to build the shopping mall. Evaluate and fully understand the economic viability of the project.

Take your time to carry out a feasibility study to assess the demand for a shopping mall while also taking into consideration factors such as population growth, income levels, and competition from shopping centers already in business.

Site Selection and Zoning Compliance

The proper market research will ensure you are knowledgeable enough to pinpoint the right location to build the shopping mall.

Choose the ideal location for your business based on the market research findings, accessibility, as well as zoning regulations. You have to ensure that the location or site you choose is well situated to guarantee easy transportation access.

Also, check to verify that the location is in line with zoning laws and regulations. Don’t forget to obtain all the requisite permits necessary for the development of the shopping mall.

Work with local authorities to fully comprehend and comply with all building codes, environmental requirements, as well as land use restrictions.

Architectural Design and Layout Planning

You should leverage the expertise of well-experienced architects and urban planners to design a visually alluring and functional layout. Take into account vital factors like traffic flow, parking facilities, and space utilization.

Also endeavor to come up with a comprehensive architectural plan that features the layout of stores, common areas, entertainment spaces, and amenities.

Don’t skip on creating an attractive environment that brings in customers while also boosting the overall shopping experience.

Tenant Mix and Leasing Strategy

It is also essential you take your time to come up with a diverse and mind-blowing tenant mix to ensure that you can attract attention while also satisfying the varying needs of your target audience.

Take into consideration a balanced combination of anchor tenants, specialty shops, restaurants, and entertainment venues.

Don’t forget to put in place a strategic leasing strategy to draw in well-known retailers and guarantee a dynamic and vibrant atmosphere within the mall. Make sure to work out lease terms that are equally beneficial for both the mall management and tenants.

Technology Integration and Sustainability

When designing a shopping mall, it is very essential in this age that you incorporate technology to boost the general shopping experience.

Consider putting in place smart parking solutions, digital signage, as well as functional mobile apps to boost wayfinding and awareness about the shopping mall.

Also, leverage sustainable design principles to limit any impact the mall might have on the environment. Utilize energy-efficient lighting, green spaces, and eco-friendly construction materials.

Tips for Floor Plan, Layout and Dimensions

Understanding target audience and demographics.

Before designing the floor plan of the shopping mall, you must understand your intended audience as well as the demographics of the local community. This is very essential if you want the mall layout to be efficient enough to cater to the preferences and needs of shoppers.

For example, note that a shopping mall in an urban setting can possess some entirely different requirements especially when put in comparison with one in a suburban area.

Zoning for Maximum Engagement

Vone various areas within the mall to boost customer engagement. For instance, consider placing high-traffic retailers as well as popular brands close to the entry point of the mall to draw in substantial foot traffic.

You can also design themed zones or sections within the mall, which would include a dining court or entertainment area since they are known to boost the general shopping experience and motivate visitors to move around and explore.

Flexible Spaces for Retailers

Keep in mind that flexible retail spaces make it easy to accommodate a wide array of store sizes. This gives room for versatility especially when it comes to leasing, guaranteeing that the mall will draw in a vast array of retailers, from small boutiques to large department stores.

Also, seek ways to utilize modular elements in the floor plan because it will work to ensure easy adjustments and make it possible for the mall to align with evolving market demands.

Efficient Circulation and Traffic Flow

Make sure that all the pathways are big or adequate to fit in foot traffic, particularly during holidays or sales events. Don’t also forget to position escalators, elevators, as well as staircases to guarantee easy and premium accessibility as well as reduce any possible congestion. Keep in mind that a properly crafted layout ensures customers have a fun and productive shopping experience.

Adhering to Regulatory Standards and Accessibility

Make sure you fully understand local building codes and regulations. Don’t forget to consider accessibility for persons with disabilities by installing ramps, elevators, as well as designated rest areas.

Conforming with safety standards is very important, and this will most often necessitate the installation of emergency exits, lighting, and ventilation.

Aside from legal adherence, note that these stipulated requirements also work to bolster the overall safety and comfort of the shopping environment.

Factors to Consider When Designing a Shopping Mall

There are essential factors you will want to take into consideration when designing a shopping mall. Although the main intention is to design a place where people will be happy to visit, these factors will ensure you have a visually appealing mall that resonates with the interests of your target audience.

Demographic Analysis and Target Market

Carry out an extensive demographic analysis particularly since it will form the foundation of a successful design. Take your time to evaluate the age, income levels, and lifestyle, coupled with the preferences of the target market.

Be sure to understand the surrounding community as well as its evolving dynamics, ensuring that the mall’s design aligns appropriately with the needs and desires of the local population.

Retail Mix and Tenant Selection

In this line of business, the amount of success you can achieve will more or less depend on the mix of retailers and brands. Ensure to have a varying and well-curated retail mix that meets the numerous needs and interests of your consumer.

Don’t forget to take great care when choosing your tenants, and you will want to do this based on their brand reputation, market relevance, as well as their ability to attract foot traffic.

Having a good balance of anchor stores with niche boutiques ensures you have a functional shopping environment that will draw in a wide array of consumers.

Technology Integration and Omnichannel Experience

You can’t underestimate the need to inculcate and effectively use technology in shopping mall design and operations. Make sure that the infrastructure supports robust Wi-Fi connectivity, and seamless mobile payments, while also providing interactive elements including digital signage and augmented reality.

It is also possible to boost the shopping experience by leveraging an omnichannel approach that integrates online and offline retail, ensuring that consumers will have a seamless and fun shopping adventure.

Sustainability and Environmental Considerations

It is also important you adopt eco-friendly practices when designing a shopping mall. This can include energy-efficient lighting, and green spaces, coupled with sustainable materials in construction. Don’t forget to work on waste reduction and recycling initiatives.

Aside from its widely known appeal to environmentally conscious consumers, keep in mind that it ensures that the shopping mall conforms to broader sustainability goals.

Accessibility, Amenities, and Experience

A shopping mall without the right access is already dead on arrival. Owing to that, you must design the mall with easy navigation, ample parking, and numerous entry points.

Ensure to make available the right amenities, which would include comfortable seating areas, family-friendly spaces, as well as properly designed restrooms.

Ensure to design a welcoming atmosphere by leveraging attractive and visually pleasing landscaping, artwork, and architectural features.

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How to Create a Shopping Mall Marketing Strategy

Discover How Your Mall Marketing Strategy can Encourage Customer Loyalty

Between the popularity of online shopping and the increased expectation for a shopping mall to provide a full ‘day out’ experience , it’s no wonder that 

Today’s retail destinations are facing more competition than ever before when it comes to driving customer footfall in 2024. Due to factors such as online shopping, expanding customer expectations, and increased competition, it has become necessary for shopping destinations to differentiate themselves to drive customer loyalty. 

Implementing a solid shopping mall marketing strategy can help you do just that. By providing unique experiences, well-thought-out journeys, and exciting incentives, it is possible to stand out from the crowd and build a loyal customer base.

An effective shopping mall marketing strategy can help you achieve: 

• Brand awareness and notoriety 
• Uplift in customer acquisition
• Better customer engagement and retention
• Increased visitor traffic
• Elevated shopping experiences 
• Emotional affiliation 

Building Your Shopping Mall Marketing Strategy

Your shopping mall marketing strategy is your blueprint for how to approach best and promote your brand, as well as your tenants and the facilities you offer. A properly executed, omnichannel marketing strategy will drive footfall, increase revenue, and nurture customer loyalty. 

To make this cohesive plan, we recommend that you start by assessing your shopping mall and asking the following questions:  

• What currently sets you apart from your competitors? This could be anything from the tenants that you have, to the experiences you offer. List every differentiator and see which point you could market as “the reason” for customers to visit you.
• How do people find you? Do you have an active social media presence? Have you considered local advertising opportunities? Do customers have to drive to your location or are there public transport links? This can impact how you market your retail destinations and how shoppers engage with you.
• What do customers respond to ? Look at your data and measure which types of events, experiences, or marketing communications have driven the best response rates.
• Have you done any successful marketing campaigns previously?  Think about which marketing channels you’ve used up to now. Measure your email open rates, track loyalty program engagement or use social media to understand which tactics work with your audience.  
• Do you have a loyalty program you can leverage ?  Running an effective loyalty program provides your mall with a wealth of data and customer information that can be harnessed to understand what customers connect with. 

Shopping Mall Marketing Categories

There are hundreds of marketing opportunities within every shopping mall. When building your strategy, remember that doing a small number of things well is more likely to drive results than trying to do too many things at once.

Content Marketing and Communications

• Be selective about the type of content you share with your audience. Ensure you present relevant and concise content that speaks to your shoppers at every touch point. Think quality over quantity. For example:
• Promote individual tenants, including any special offers they have running
• Plan launch campaigns for new tenants, products, facilities, and services
• Share information about upcoming events
• Think about seasonal messages and the activities you could create for each holiday
• Incentivize behaviors via promotions and discounts
• Look at the communication channels you have available to you. Consider the types of content you can promote through each channel and how often you should communicate with your shoppers – it’s best to think about where your customers will most likely interact with you. For example: 
• Your website
• social media account
• email database
• digital adverts
• A loyalty app 

Leveraging digital marketing opportunities and publishing relevant content consistently through these channels can help you build customer engagement and motivate shoppers to visit your location more frequently. 

Host Mall Events and Collaborate with Retail Tenants, Press, and Local Organizations

Hosting events in your mall offers lucrative opportunities to boost foot traffic and spending. Whether you organize events in-house, partner with external businesses, or allocate space for tenant initiatives, ensuring the events are engaging and interactive is paramount. 

Here are some event ideas to consider:

• Product demonstrations
• Brand ambassadors from Facebook and Samsung went on-site at three Brookfield Properties centers to showcase new virtual reality capabilities. Samsung Virtual Reality Goggles were also available for live demonstrations with shoppers. These events drove traffic by utilizing advertising collateral throughout Brookfield’s property.
• Create seasonal experiences like Easter egg hunts or Holiday grottos
• Think about how pop-up events can offer a unique experience that caters to a wide audience.
• Offer workshops such as cooking classes or beauty makeovers
• Interactive activities can be a huge draw to those who wish to learn a new skill or simply want to get involved! 
• Promotional incentives within your food and beverage (F&B) section
• Encourage shoppers to stop by and try a new product flavor, taste a sample or offer them a freebie to take home. 

External partnerships can not only enhance commercial appeal but also strengthen your mall’s community ties, attracting a larger audience. Working with these partners can also double your marketing efforts!

Potential collaborations include:

• Working with local or national sports teams to do meet and greets, promote upcoming games, or interview players
• Create space for local youth clubs, support local organizations, or offer to help grow community initiatives 
• Invite celebrities to open new stores and meet fans
• Invite brands to launch pop-up stores in your shopping mall. 
• Work with local radio stations to host music events

Leverage Your Shopping Mall Loyalty Program

The nature of a loyalty program provides many marketing opportunities that are proven to drive additional revenue and dwell time . Here are some ideas for how to acquire and engage members throughout the year.

• Run specialist campaigns that entice lapsed members to re-engage or new customers to enroll. ‘VIP Event Weeks’ work well, as seen by our clients at Premier Outlet Budapest .
• Allow members to double their points, access discounts, or earn free rewards for certain behaviors or spending patterns.
• Give members exclusive access to VIP events and use these to encourage new membership sign-ups. 
• Loyalty programs can build a strong customer base from day one. Not only can it improve your marketing communications, but loyal customers make purchases 90% more frequently than non-loyal customers.
• If you have multiple shopping malls in your portfolio, utilizing your engagement platform can help you create consistency across branches and build brand authority with your shoppers.

Utilize Your Mall’s Physical Assets

The physical environment you present plays a big part in building an emotional connection with your shoppers. Consider how you can make your shopping mall inclusive to all customer segments. For example, families, young people, and the elderly each have their own unique set of requirements and expectations when they visit your shopping mall.

Think about how your mall flows, and perhaps create walking maps to encourage healthy living and socialization. (Mall of America’s Live Well campaign offers customers different walking routes across their property and is very popular with many different age groups!) Creating multi-purpose spaces that promote fun and socialization while offering places for rest and leisure will help you create an inclusive environment. 

Don’t forget to consider the potential of your outdoor space too. Here are some ways in which you could utilize your exterior:

• Host outdoor events with external pop-up businesses (For example food trucks or smoothie bars) 
• Consider outdoor sustainability initiatives For example, community gardens or gardening groups can be a great way to connect with the local community and promote sustainable practices. 
• Install promotional signage near your property– billboards offer an opportunity for you to promote your retail tenants, entertainment facilities, or your loyalty program to people in the surrounding area.
• Utilize branding opportunities in your parking lot so that your customers’ journey starts as soon as they pull off the road – sell advert space on your shopping carts or print offers on the back of your parking tickets to encourage customer engagement.
• Digital-forward spaces that encourage engagement such as digital maps, notice boards, virtual tours, or check-in tools will create seamless customer journeys. 

The Takeaway

In an increasingly competitive market, establishing customer loyalty from the outset is crucial for the prosperity of shopping malls. By creating a robust shopping mall marketing strategy that prioritizes customer engagement, malls can enhance the shopping experience of their guests and maintain consistent visitor traffic. 

Collaborating with retail tenants, local organizations, and media outlets further enhances your shopping mall’s appeal, strengthening community bonds and extending its influence. Consistency and adaptability play pivotal roles in executing a comprehensive marketing strategy. Leveraging data-driven insights and proactive feedback means that shopping malls can continually refine their approach to surpass customer expectations.

Ultimately, by embracing a dynamic and customer-centric approach, shopping malls position themselves as vibrant hubs of commerce, entertainment, and community, ensuring long-term success in an ever-evolving retail landscape while establishing customer loyalty from the outset.

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7 Shopping Mall Floor Plan Resources and Design Tips to Give Your Layout a Boost

Smart mall operators are using powerful new technology to enhance planning and mall floor plans, and engage users and drive more revenue..

June 9, 2022

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The number of consumers who shop mainly in-store for apparel is down dramatically , according to a report from De loitte Canada. In outlining that shift, Deloitte noted that “Food is the new Fashion” in malls, with dining options replacing apparel as the  main attraction drawing traffic. Dining out has universal appeal across all consumer segments. And, Deloitte notes, the social experience can’t be replaced online. When Deloitte asked consumers what amenities would encourage them to make the trip to the mall, the top response was “a great assortment of food and restaurants for dining or take out, including a food hall.”

Deloitte concluded that “smart mall owners are viewing food and beverage venues as the new anchor that will enhance their destination appeal.” Meanwhile, another study  points to augmented reality as another strong way to drive retail traffic, with 71 percent of respondents saying they would shop more often if they could use AR. On top of that, 61 percent of respondents said they’d be more likely to choose to shop at stores that have AR over ones that don’t, providing another opportunity to set your mall apart from the competition.

Deloitte’s US practice had its own take on how changing consumer behaviors are creating new opportunities for mall operators. While the entire article is an excellent resource, we wanted to focus on their insight to “use consumer behavior analytics to determine the appropriate tenant mix for each location.”

Deloitte notes that there are approximately 750 anchor vacancies in US malls, particularly in Class B & C malls. As traditional anchor tenants like department stores have cut locations, there is an opportunity to reimagine what retailers make sense as anchor tenants. Deloitte’s cross-selling data suggests grocery stores, which not only performed well during the pandemic but which have a “high cross-shopping propensity” with other retailers, could be a viable replacement. Other non-retail tenants being introduced as new anchors include hotels, bowling alleys, and casinos.

Use mall floor plan templates

A great way to get started with, audit, or optimize your mall floor plan is via some of the templates you can find online, like this one from Edraw . You can also study maps for modern, well-received malls to find some design inspiration, such as the American Dream mall in East Rutherford, New Jersey or The Galleria  in Houston, Texas.

Brick and mortar retailers have been late to the game in collecting data about their customers, particularly when compared to online retailers who use it to offer personalized, optimized and profitable shopping experiences. Mall operators now have powerful technology and proven new tools at their disposal to begin to level the playing field.

A   McKinsey report, ”Boosting mall revenues through advanced analytics,”   states that “we’ve found that malls already have access to significant amounts of data, including data on shopper behavior, tenant sales, and category performance. What they don’t typically have are the analytical skills and tools to generate insights from the data. Most mall operators still make decisions based on tradition, experience, or intuition — thereby leaving value on the table.”

There may be no more effective way to gather this kind of data than with the very same mobile navigation apps that help visitors find their way around the mall. On top of getting people where they want to be, they allow owners to collect much-needed data on consumer journeys and traffic throughout their visits. Analytics pulled from modern indoor navigation and wayfaring solutions can help inform the mix of stores in your floorplan, understand and plan store adjacencies to maximize revenue as well as extend mall visits, and even drive more informed rent negotiations with tenants.

The variety and fun introduced by limited-time shopping events shouldn’t be the sole purview of online retailers. Another way operators can adjust their mall floor plan to meet the evolving customer preferences is to introduce pop-up stores selling differentiated products for short periods of time. This is a great way to tap into consumer appreciation of fresh, customized experiences — and will lead to customers coming back to the mall to see what’s new instead of always expecting the same anchors and retailers.

Many new technologies help mall operators compete with ecommerce. One of the most exciting is mobile augmented reality (AR) which can deliver highly immersive and engaging experiences with little more physical infrastructure than the mobile devices your customers already own.

Resonai’s Vera  is a complete digital infrastructure that transforms retail stores and shopping malls into intelligent digital ecosystems.. With Vera, retailers can create new media units anywhere in the space, launch AR content and immersive experiences, personalized ads and promotions,  AR tutorials for employees, and even support their merchandising strategies by using AR to help automate and test strategies more quickly.

Mall floor plan designers can use AR to:

• Vastly improve customer engagement by helping consumers navigate, find relevant products, and access personalized ads and promotions in real-time.
• Automate store planning, and replace planograms and manual systems, while providing real-time visibility & data analytics down to the shelf level.
• Provide more engaging employee training to keep employees connected and address high churn rates. AR tutorials provide visual instructions to ensure better store setup and compliance.
• Enrich customer data. Data is gathered from mobile phones, product interactions, and photo streams to map shopper flows, traffic patterns, access detailed user behaviors, and inform processes.

Consumers love AR too.  A Retail Perceptions report  found that   40% would be willing to pay more for a product if they could experience it through AR; 61% of shoppers prefer to shop at stores that offer AR, and; 71% of shoppers would shop at a retailer more often if they offered augmented reality.

If you’d like to learn more about implementing artificial intelligence and augmented reality to enhance the customer shopping experience and increase revenue in your mall,  download our retail ebook here . Or, get in touch with Resonai today and set up a free demonstration.

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Shopping Mall Building Project Proposal Template

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Looking to build the shopping mall of your dreams? We've got you covered! ClickUp's Shopping Mall Building Project Proposal Template is the ultimate tool to streamline and simplify your project planning process.

With this template, you can:

• Create a comprehensive project proposal that covers all the crucial details, from concept to execution.
• Collaborate seamlessly with your team, contractors, and stakeholders to ensure everyone is on the same page.
• Keep track of timelines, budgets, and milestones to stay organized and deliver your project on time and within budget.

Don't let the complexity of building a shopping mall overwhelm you. With ClickUp's template, you'll have everything you need to bring your vision to life. Start building your dream mall today!

Benefits of Shopping Mall Building Project Proposal Template

The Shopping Mall Building Project Proposal Template offers a range of benefits for anyone involved in a mall construction project:

• Streamlines the proposal process, saving time and effort
• Provides a professional and polished document to present to stakeholders
• Ensures all necessary information is included, such as project scope, timeline, and budget
• Helps to clearly communicate the project vision and goals
• Increases the chances of securing funding and support for the project
• Facilitates collaboration and alignment among team members
• Enables easy customization to fit the specific needs of the project
• Simplifies project management by providing a clear roadmap for execution.

Main Elements of Shopping Mall Building Project Proposal Template

ClickUp's Shopping Mall Building Project Proposal template is the perfect tool to plan and execute your next construction project. Here are the main elements of this Whiteboard template:

• Custom Statuses: Track the progress of your project with two customizable statuses - Open and Complete - to ensure that every task is accounted for and completed on time.
• Custom Fields: Utilize custom fields to capture essential information about your project, such as budget, timeline, materials needed, and any other specific details that are crucial for successful execution.
• Custom Views: Access two different views to manage your project effectively. The Project Proposal view allows you to outline your project's scope, objectives, and deliverables, while the Getting Started Guide view provides a step-by-step plan to kickstart your project.
• Collaboration Tools: Collaborate seamlessly with your team by utilizing ClickUp's built-in features such as task comments, file attachments, and real-time collaboration to ensure everyone is on the same page throughout the project lifecycle.

How to Use Project Proposal for Building A Shopping Mall

If you're planning to propose a shopping mall building project, using a well-structured template can help you present your ideas effectively. Here are five steps to help you make the most of the Shopping Mall Building Project Proposal Template in ClickUp:

1. Develop a clear project overview

Start by providing an overview of the shopping mall building project. Explain the purpose, location, and target market for the mall. Include details about the size and design of the building, as well as any unique features or amenities that will set it apart from competitors.

Use the Docs feature in ClickUp to create a detailed project overview that highlights the key aspects of the proposal.

2. Outline the project timeline and milestones

Next, lay out a timeline for the project, including important milestones and deadlines. Break the project down into phases, such as site selection, design and planning, construction, and grand opening. Clearly define the duration and expected completion date for each phase.

Utilize the Gantt chart feature in ClickUp to create a visual representation of the project timeline and milestones.

3. Detail the financial aspects

Provide a comprehensive financial analysis of the shopping mall building project. Include estimated costs for land acquisition, construction, permits, marketing, and ongoing maintenance. Present a projected income statement, including anticipated revenue from rental income and other sources, as well as operating expenses.

Use the Table view in ClickUp to create a financial spreadsheet that outlines the costs, revenue projections, and potential return on investment.

4. Highlight the marketing and leasing strategy

Explain your marketing and leasing strategy to attract tenants and ensure the success of the shopping mall. Describe how you plan to promote the mall to potential retailers and anchor tenants. Outline any incentives or benefits you will offer to attract businesses to lease space in the mall.

Utilize the Board view in ClickUp to create a visual representation of the marketing and leasing strategy, including lists of potential tenants and their contact information.

5. Include supporting documents and visuals

Enhance your proposal by including supporting documents and visuals that provide additional context and support your ideas. This could include architectural renderings, site plans, market research data, and testimonials from potential tenants or industry experts.

Use the Docs and Whiteboards features in ClickUp to add supporting documents and visuals to your proposal, making it more engaging and persuasive.

By following these steps and using the Shopping Mall Building Project Proposal Template in ClickUp, you can create a compelling proposal that effectively communicates your vision for the project and increases your chances of success.

Get Started with ClickUp's Shopping Mall Building Project Proposal Template

Real estate developers can use this Shopping Mall Building Project Proposal Template to streamline the process of proposing and managing a shopping mall construction project.

First, hit “Get Free Solution” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to bring your shopping mall to life:

• Use the Project Proposal View to create a detailed proposal that outlines the scope, budget, and timeline of the project
• The Getting Started Guide View will provide you with a step-by-step plan on how to begin the construction process
• Organize tasks into two different statuses: Open and Complete, to keep track of progress
• Update statuses as you complete tasks to ensure everyone is up-to-date on the project's progress
• Assign team members to specific tasks and set due dates to maintain accountability
• Utilize Checklists to break down larger tasks into smaller, actionable steps
• Attach relevant documents and resources to each task for easy access
• Communicate with team members, stakeholders, and contractors through comments and @mentions
• Monitor and analyze tasks to ensure the project stays on schedule and within budget.

Related Templates

• Home Economics Project Proposal Template
• Billing System Project Proposal Template
• Glass Production Project Proposal Template
• Bank Loan Project Proposal Template
• Laboratory Project Proposal Template

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5 Ideas and Strategies for Retail and Shopping Malls Marketing

What can you achieve with a good marketing strategy for shopping malls

Boost sales with coupons and promotional codes, marketing ideas for shopping malls: entertain and engage with games, collect contact details with a giveaway with the registration form, voting contests as part of your mall’s marketing strategy, foster loyalty and trust with client-exclusive promotions.

The success of a shopping mall or retail center depends on a million different factors. What does the competition look like? How easily can people reach your location? Which brands and stores do you carry? How do you fit into the local economy? And how’s your marketing strategy? In this blog post, we take a look at ideas and strategies for retail and shopping malls marketing. Let’s take a look at how to boost your shopping mall thanks to creative online promotions.

Here are just some of the goals that you can achieve with a consistent marketing strategy and relationship marketing for retail malls and shopping centers:

• Attract shoppers.  With a bigger online presence, you can attract new customers through your doors.
• Promote sales.  Use promotions, deals, and online advertizing to make customers an offer they can’t refuse.
• Collect contact details . Target customers with more personalized communications.
• Reward loyal customers. Attracting new shoppers was just the first step! Share exclusive rewards and treats for repeat customers.
• Highlight brands and products.  Run giveaways and promotions to show off your best brands and new product releases.
• Manage periods of low consumption.  If sales have been muted lately, then use deals and online campaigns to revive consumer interest.

We have more than a dozen of promotion templates for shopping malls – and more than 340 templates in total that can be adapted to retail marketing!

  Sounds good, right? But how can you make sure that your digital marketing for retail is effective? In this post, we’ll share 5 easy online promotions , from real malls and shopping centers. Read all the way to the end to get your  free ebook for retail and mall marketing , with even more ideas, tools, and examples.  

Customers love a good deal, so coupon promotions never go out of fashion. In fact, we’ve written before about the power of coupons  in digital marketing for retail. Even if you offer a discount, you’ll see a great return on your investment from increasing sales .

There are lots of different ways to set up a promotion with coupons or discount codes. So start by thinking about the different brands you work with, and your ultimate marketing goals. Do you want to show off products from an exclusive brand? Encourage holiday spending? Reward customers for signing up for a newsletter ?

Harbor Mall Commercial Centre offered a special Back to School discount. They wanted to learn more about their  customer feedback and shopping experiences . So they asked shoppers to fill in a survey, and in return, they invited users to download their discounts.

But what happens when a shopping mall decides to promote a variety of different stores to attract more visitors? What can marketing teams do to grow their mailing list and boost sales at the same time?

Here’s an example of a Digital Coupon Book – a great opportunity to distribute discount codes and vouchers to various stores. The Easypromos digital coupon book allows you to create a coupon directory and to categorize them for easy access and search, allowing customers to find and download the coupons they’re interested in. What does the organizer get out of it? Apart from converting social media followers into qualified leads , they drive traffic to the stores, boost sales , and promote the businesses . Let’s not forget about reinforced customer relationships !

Interested in running a coupon campaign? Learn more about how to make a Digital Coupon Book with Easypromos.

You can be really flexible with how you design and share coupons. Offer a range of discounts targeted at different customers, or share promotional codes in a seasonal countdown. Check that discounts are valid with numeric codes or barcodes and QR codes that can be scanned in-store. If you want to give exclusive rewards to loyal customers, then take a look at part 5 below, where we discuss Customer Loyalty Rewards.

People turn to social media for creative content . So if you want to stay top of mind with customers and increase brand awareness, your content must be top-notch! Luckily, with the development of technology, there are now many ways to launch interactive and engaging promotions that online users don’t mind seeing. Don’t forget that customers no longer want to see hard-sell campaigns. We all prefer marketing campaigns that offer us something in return.

Branded mini-games are an example of such marketing solutions. Organize a mini-game with your shopping mall’s logo and branding colors – and work on brand recognition and exposure why entertaining users with an interactive challenge.

Here’s an example of a Memory game that could be launched by a fashion brand to promote their new collection. Or by a shopping mall to attract more visitors to a new store. Note how the app showcases the brand’s logo and products – wouldn’t that be a great tactic for any shopping mall, too? Users play the game and then register their contact details for a chance to win – and your mall expands their database in the meantime!

The secret to digital marketing for retail is simple. You want to  leverage online technology , to build a relationship with your customers so they keep coming back. One of the most effective ways to stay in contact is with an email marketing list . But how do you collect those contact details in the first place?

You can’t go wrong with an Entry Form Giveaway . It’s very easy for customers to take part. They just fill in a registration form online, then wait to find out if they’ve won a prize. You can add an extra incentive by offering small discounts to all participants, in addition to the final grand prize.

Take a look at the above example to see how your shopping mall could promote a new coffeehouse located in your center. This café offered an adequate prize: five $20 gift cards – because there’s no better prize than free coffee! All they asked from shoppers was their name and an email address for their mailing list.

If you opt for a similar promotion, make sure you share the giveaway link on your social media channels – it’s a great opportunity to convert followers into qualified sales leads. And if they participate in a giveaway for a free gift card to a coffeehouse… you can target them with future deals and bargains offered by the same brand!

Once you’ve developed your email marketing list, use it to supercharge other promotions. Share newsletters, product reveals, and exclusive deals with your email subscribers. Build excitement for big shopping events, such as Black Friday, Cyber Monday, or Christmas shopping .

Voting contest promotions are a fun way to hear your customers’ opinions, and show them that you value their contributions. Create a public gallery with photos, videos, or text , and ask your shoppers to choose their favorite. This is also a great option if you want to run a promotion that’s  easy to participate in .

Here’s a charming festive example from the Greenbank Hunt Club shopping center. Each store in the mall painted their windows with a Christmas theme. Then the mall shared photos of each shop online. Customers could view the photos on their mobile phones, and choose their favorite display. Finally, they could share their pick on social media.

And what was their incentive? Every customer who voted had the chance to win a generous $500 shopping spree. And because Christmas is the season of giving, the mall matched the prize with a $500 charity donation , too. This was a great way to highlight each store within the mall, and show how the Centre contributes to the local community at the same time.

So far, we’ve discussed promotions that encourage sales: discount codes, giveaways, and so on. But you can also reward sales that have already been made. Use the Validate Receipts app to share exclusive rewards with paying customers and increase customer loyalty and trust. These two often lead to repeat purchases and life-long customer relationships!

In this example, it was very easy for customers to take part. Every time they made a purchase in-store, they were invited to take a picture of their receipt and upload it to the online app. The promotion organizers then organized a random prize draw and manually validated if the winner uploaded a valid ticket.

Are you expecting a high number of participants? Or maybe you want to invite each user that uploads their receipt to spin a prize wheel? You can use our Validate Receipts app with automatic ticket validation that is possible thanks to the OCR technology. Find out more about the OCR system and try our Validate Receipts DEMO with automatic receipt validation .

Do you have questions? Or maybe you want to share with us an idea that our readers might be interested in? Make sure to contact us via our Live Chat !

--> Corinna Keefe -->

Content marketer at Easypromos

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Marketing for Shopping Malls

• A marketing guide for large-scale retailers

Everything has changed since the firsts shopping centres opened in the 1980s in Spain. Forty years later, the sector has grown to add more than 500 shopping centres and retail parks , and has evolved from the initial model, based in a hypermarket, to the new conception of shopping centres that has been noticed in recent years, a space that goes beyond the pure commercial transaction .

How this transformation and the emergence of online shopping change the marketing strategies of shopping centres? That is what we are going to analyse. Let’s start.

Marketing challenges for shopping malls

Adapting shopping malls to the new trends in digital marketing, getting to know shopping mall consumers, the keys to a successful digital marketing strategy, an online strategy to attract and retain visitors to a shopping mall, events for shopping malls, customer relations and consistent marketing messages, do shopping malls really need a marketing strategy.

Today’s shopping malls have essentially become centres designed to satisfy visitors’ leisure requirements . In a world where retail formats are constantly being reinvented, nobody can be sure how long these types of spaces will remain active, nor where the sector is heading in the future.

Shopping centres and malls are a global business that is basically controlled by investment funds and large multinationals with converging interests. They normally operate in the real estate sector, as the sole value attributable to retail space was its location in relation to size and territory.

For many years, the key concern of shopping mall owners was to lease their premises : a search for retailers and franchisees that would hang their signs in their spaces.

However, in recent decades the goalposts have moved: the rapid growth of online shopping has forced shopping mall owners to seek ways of increasing traffic to their spaces, which often implies a considerable financial outlay.

Shopping mall managers and their marketing staff are responsible for handling these large amounts of money, faced with the challenge of obtaining measurable results in terms of traffic flows.

This is a complex task , as they must ensure that a single action is not only capable of improving consumers’ experience in the centre, but also of satisfying the metric demands set by the owners and executive teams.

Related information:

• La transformación de los centros comerciales en centros de experiencias

Asset management, new promotions and business acquisitions are a world away from the everyday business of running a shopping mall, which is the responsibility of the managers, their assistants and marketing teams. Nor do these tasks fall to those in charge of leasing the available premises, building work and alterations or major concept changes, which are normally in the hands of the owners themselves, or, in their absence, the executive teams. It’s a completely different league.

Shopping mall managers daily challenge is traffic flow . Each new day is a whole new ball game in terms of the challenges they will encounter in the walkways. Yet in addition to the major responsibilities involved in attracting customers, handling relations with operators and coordinating the security, maintenance and cleaning teams, they must also address the question of marketing . So what are the challenges they face in this area?

New competitors

Shopping malls no longer merely compete with other centres or high street stores in large cities. Now there are new adversaries, namely online shopping, food delivery platforms and on demand television services . In fact, the rapid rise of online shopping and transactions is now the greatest threat to shopping malls and smaller stores. Fighting this trend is futile: the solution lies in adapting and coming up with ideas that will minimise the impact.

Differentiation and budget

Differentiation and optimum use of the budget assigned ‘from the top’ are the major changes facing anyone responsible for retail marketing, whilst complying with the mantra that shopping malls are not just places where people go to purchase items. Indeed, now they are defined as spaces that provide entertainment and services that must deliver experiences that are radically different from those consumers have at home , where they can shop online, choose what they wish to watch on television and order food from their favourite restaurant via a mobile app.

The disruption of the traditional shopping mall has meant that there is still no clear model for success. The same is true of other sectors, such as cars, energy or industry. A shopping mall is more than a place to buy items; it has to be a meeting point for society. The question lies in how the management team of a particular shopping mall can achieve this.

•  Los 5 pasos esenciales de un plan de marketing para centros comerciales
• Centros comerciales: cómo convertir likes en ventas

The first thing is to do away with the myth that marketing can be divided into online and offline. Consumers shop online and offline and there is only one image to get across, and therefore applying a multichannel strategy is the only way of making an impact. Striking promotional actions that attract clients to stores is no longer enough; what’s needed now is to integrate the full range of digital tools into the corporate marketing strategy in order to obtain a full insight into our visitors and offer them an experience tailored to their shopping habits and tastes. The list of possible questions is endless:

• How old are they?
• Who accompanies them on their visit?
• When do they visit?
• How do they keep up-to-date with our latest news?
• What type of services do they most appreciate?
• What type of events and activities would they like us to organise?

Some companies are already introducing pilot systems for marketing intelligence, big data and data processing in order to meet these challenges. Major investments targeting groups that are implemented by the largest consultancy firms.

However, most of the companies that manage shopping malls in Spain have still not latched on to these trends, and it is up to the marketing managers of these centres to collect and take advantage of vast amounts of customer data. The everyday marketing challenges facing shopping malls are more a question of individual, ongoing adaptation. All too often, the marketing managers of these centres have to go into battle alone, practically unarmed .

In the light of this scenario, there are four key issues at stake in term of keeping up-to-date with the latest trends in digital marketing:

Tools that don’t catch on

Many of the initially innovative tools applied by the executive management teams have failed to catch on among their customers . Apps are a particular case in point, a fad that is now outdated; loyalty cards that are used by less than 20% of their customers, or campaigns based on elements such as beacons or geolocation, which failed to be fully implemented.

The major trends

Current trends are centred on the application of CRM systems for segmented communication closely linked to customers . This is achieved by optimising social media profiles, integrating virtual assistants or monitoring visitor satisfactions with the mall’s services through online surveys that send out instant alerts when they detect that things are not working as they should.

Keeping up-to-date

Market innovations occur at breakneck speed , and as a result mall managers are unable to obtain an in-depth understanding of the full range of solutions before others appear. The truth is that they are pretty much on their own when it comes to drawing up an annual marketing plan based on innovative and attractive ideas that not only stick to the available budget, but are also feasible and tie in with the online and offline environments.

The agencies’ role

In this scenario, communication and marketing agencies play a vital role in assisting shopping mall managers and their teams. Having a group of professionals behind you is particularly useful, not only for keeping up-to-date with all the latest marketing innovations, but also when designing and applying new and appealing actions that will boost traffic and contribute to bringing together online and offline environments.

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The behaviour of today’s consumer is radically different from that of just ten years ago . Easy and affordable access to the Internet via mobile devices has revolutionised shopping habits.

Below are the four key characteristics that define their behaviour :

Enjoying the experience

New consumers are looking for experiences as well as the mere acquisition of goods. The traditional transactions involved in acquiring products or services is easier online. However, digital environments are unable to generate the sensation of “having enjoyed an experience”, which is why consumers are eager to purchase experiences and demand courses in nutrition and cookery, health and wellbeing, or even makeup workshops.

Being part of something​

Consumers no longer need to leave their homes to shop; they do so in order to interact with society and to generate a sense of belonging. In this sense, malls should focus less on the notion of ‘shopping’ and more on their function as centres for socialising and culture. In line with this, marketing actions should be tailored towards attracting the general public through musical, artistic and social events.

Sustainability

Today’s customers, particularly the younger segments, are beginning to demand social commitment as well as low prices . As a result, shopping malls have also begun to centre their attention on corporate social responsibility, launching initiatives related to responsible consumption, environmental impact, health and proximity.

Personalisation​

Consumers are beginning to prioritise personalisation over standardisation . The fast fashion retail giants continue to be the driving forces for shopping malls, but it is the small operators, with their exclusive and unique offers that are obtaining the best results. Popup stores selling differentiated products for a short period of time, are one of the possible options.

Innovative shopping malls are incorporating value elements intended to turn them into a new social pole for cities . The actions include promoting concerts or festivals, art exhibitions, encounters, craft fairs, farmers’ markets, popup stores, kiosks and play areas, etc.

Shopping mall management teams often locate these actions in vacant premises or communal areas displaying low heat map levels. The objective is clear: to generate levels of leisure and entertainment that could never be achieved online.

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Shopping mall operators seek to provide shoppers with a special experience by introducing new and innovative stores or experiences. In many cases, traffic will be generated by the classic ‘driving forces’ (large supermarkets, major fast fashion retailers, cinemas, etc.), although there are always alternatives whereby an effective digital marketing strategy will impact on shopping mall traffic and digital engagement levels.

What follows are just a few ideas that will contribute to improving the results of your mall’s digital marketing campaigns:

Make it fun

Failing to engage the target market is the worst mistake of any marketing strategy. Shopping malls need to reach out to their customers and connect with them through emotions, experiences and becoming part of their leisure and entertainment choices. This requires informal communication based on everyday language, whilst adapting the tone in keeping with the shopping mall’s style.

Promotions and prize draws

Social media interaction is on the rise and advertising works well when communicating prize draws, free gifts and promotions . A good marketing agency will know what to give away, how to go about it and who to target. What are the hottest trends? Just one expensive prize or lots of smaller ones?

Something for everyone

Traffic to shopping malls is always a mix, and therefore targeting a very specific market is not overly important. Unless there is a highly specific promotion or event targeting one of the shopping mall’s key segments, the best policy is to try to capture everyone’s attention.

Big news, online

Digital tools are always the best way of communicating news such as store openings, sales or the arrival of new collections. Generating a sense of anticipation and making followers feel that they are the first to receive the latest news will guarantee positive online reactions.

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Shopping malls are facing growing competition. Shopping online is on the rise, and therefore coming up with and altering offers is a regular, ongoing task. Shopping malls must ensure that their marketing strategy evolves in order to compete for consumers’ preferences, and in this sense, content marketing and social media may turn out to be crucial tools .

Content marketing

In the shopping mall sector, content is an ideal way of securing consumer loyalty as well as attracting new visitors. But what kind of content should shopping malls provide? The answer is clear: store-related content based on consumer offers. Effective digital marketing strategies have to be able to help plan purchases.

Running a blog with tips on the perfect family BBQ, last minute gift ideas for Mother’s Day or how to carry off the latest IT-girls trend is all very well, but including audio-visual content in the form of live social media broadcasts is more likely to get you noticed.

In order to boost engagement levels, content has to be relevant, exciting and shareable .

Social media

Social media have really taken off in recent years. Indeed, they are an excellent free platform for promoting a brand. However, they also have their downside. Dissatisfied customers may share their experiences, and therefore reactions may not always be positive. Yet with the right communication strategy and a team with experience in combating these negative comments, it is possible to turn this situation around.

Consumers expect instant answers and solutions. Being able to deliver them is proof of excellent customer service and consumer loyalty. Response levels can be measured and made public by social media such as Facebook. It is clear that consumers’ already high expectations are growing, and therefore shopping malls everywhere have to be able to react fast and efficiently.

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Can you picture a performance by the Cirque du Soleil in your shopping mall? Or an exhibition featuring the most famous MotoGP bikes of the last ten years? There are shopping malls in the Persian Gulf, Malaysia, China or Indonesia where setting up F1 race tracks, ski slopes or performances by world famous artists are regular occurrences that draw the wealthiest customers to their luxury stores.

It is clear that the challenge facing shopping malls is to offer exciting, first class quality entertainment, yet that at the same time is in line with the budget of the ‘average’ Spanish shopping centre . Attempting to set up a good exhibition, workshop or live event requires planning, a strategy and a team of professionals capable of making things happen.

However, before embarking on such actions, it is important to identify the shopping centre’s commercial mix and take time to gain an insight into consumer demographics, studying the interests and needs that must be met . What’s more, the events should also generate satisfaction among retailers and operators. It is therefore advisable to work closely with them in order to create campaigns and events that will produce notoriety, traffic to stores and partnerships that will contribute value to their products.

How about organising a Carnival makeup workshop in collaboration with the mall’s hairdressing salon? The operator provides the materials and staff in return for brand recognition. Or a Zumba session in the shopping mall given by the fitness centre monitors? Or a fair featuring food products organised jointly with the supermarket?

From a management perspective, t he goals of the events held in shopping malls are clear , and must always be uppermost in our minds:

Brand awareness and notoriety

A goal that is common to digital environments, media and word-of-mouth marketing.

Building relationships and security operator loyalty

Events differentiate operators from stores in other shopping malls in their area.

Increase visitor traffic flows to the mall

Busier walkways will boost sales, making retail leases sustainable.

Generally speaking, shopping mall users and customers do not have a spokesperson to keep them up-to-date or an interlocutor they can talk to.

Beyond the occasional report in local media or presentation by the shopping mall manager, direct customer communication is limited to two options :

Customer service / Information desks

Small and medium size shopping malls do not offer this service. The information desk must be staffed by experts in customer service , capable of assuming the responsibilities involved and delivering effective solutions.

Digital channels are another key form of communication with shopping mall users. Keeping social media channels active and maintaining an ongoing dialogue is essential in order to guarantee customer satisfaction.

Another crucial aspect is to ensure that the same message is transmitted on all platforms . The brand must always send out the same message, regardless of where consumers may be looking.

The tone of the shopping mall’s online communication is perceived in every blog post, Instagram photo and Facebook text. Using the right language for each shopping centre is a complex task, because there is a big difference between communications from a shopping mall in a large city targeting customers with a high purchasing power and those focused on young people in the suburbs or target markets in rural settings.

What’s more, each age group has its own favourite digital tool . Younger, more dynamic segments use Instagram on their mobile phones, whilst the adult population prefers Facebook. That’s why it is so important to entrust your digital communication to the professionals, rather than simply lumping it all together.

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They certainly do; and the scope and flexibility of these marketing strategies is growing rapidly. The number of new technologies and platforms means that it is harder than ever to keep up with the latest marketing strategies . The need to detect and take advantage of opportunities, selecting and integrating the right technologies into the strategies in place is crucial in order to reach an increasingly demanding public.

There is a rapidly growing need for people with the capacity to innovate and sector know-how, as well as communication agencies capable of formulating and shaping action plans . Shopping mall managers seeking success require a solid and constantly evolving strategy and to surround themselves with the people capable of putting it into place.

If you’d like to know how we can help you, fill in this form and we’ll be in touch .

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8 Marketing Ideas for Shopping Malls

Increase foot traffic and create an engaged community with these tested marketing ideas for shopping malls   .

The daily challenge that shopping center managers face is increasing traffic flow. That’s one of the main reasons why they invest time and budget in marketing. Here are a few tested marketing ideas for shopping malls that will help you attract more foot traffic and create a lasting connection with your customers.

1. Create a unique hashtag for your shopping mall

Hashtags make it easier to search for conversations and participate in them. Of course, this goes for the private use of social media, but user-generated hashtag campaigns are also something many businesses leverage nowadays.

Having a unique hashtag for your shopping mall will help you easily monitor and collect the content that visitors post on social media while sharing their shopping experiences. It’s also a great way to discover your true fans. Here’s a great hashtag campaign guide to help you choose a good hashtag.

Encourage your customers to use your official hashtag and post about their experience at your shopping mall, stores, or interactions with customer service. People enjoy sharing unique products and experiences with their community on social media, which is powerful authentic content you can use in your marketing.

The shopping center chain VIVO does a great job creating a unique hashtag for each location. For example, for their Shopping mall in Baia Mare, Romania, they are using the hashtag #VIVOBaiaMare – a combination between the name of the shopping center and the location.

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2. Organize events on weekends and during holidays

People no longer need to leave their homes to shop; they do so to interact with each other, join a community, and get a sense of belonging. That’s why malls should focus less on the notion of ‘shopping’ and more on their function as centers for socializing and culture. 

Marketing actions should target the general public through musical, artistic, and social events. Over the weekend or during holidays, everyone is looking for different events they can go to and enjoy their time off work. Your unused mall space is large enough to serve as an event venue. This opens up opportunities for community groups and non-profit organizations to hold events year-round and increase foot traffic.

You can also host competitions with attractive prizes. For example, you can leverage photo contests to promote your brand and that of the tenants, as well. You can get lots of user-generated content by asking your customers to take photos or selfies of their experience at your mall. You could also do cross-promotions by asking the store owners to share the pictures on their social media accounts. Finally, gather all that fantastic content on a social wall and allow people to vote for their favorite photo using Reactions .

Here are some more event ideas that work well for Ivana Ljušić Ristić, Marketing Manager at Rajiceva Shopping Center.

Ivana Ljušić Ristić, Marketing Manager at Rajiceva Shopping Center

We are constantly organizing various events inside our shopping center. We had a couple of fashion shows and presentations of novelties from the fashion world but also a different type of event, such as the organization of group baby showers.

3. Use social media channels for news and promotions

It would be best if you used all your social media channels to promote new stores, the events you organize, new collections, new movies at the mall’s cinema, or the sales and giveaways your tenants are running. 

Generating a sense of anticipation and making followers feel they are the first to receive the latest news will guarantee positive reactions. In addition, it will drive people to your shopping mall.

If you’re searching for inspiration when it comes to great social media content for your shopping mall, make sure you check out the Instagram account of the world’s biggest mall. The Dubai Mall does a great job mixing different kinds of engaging content on their social media profiles. They have over 1 million followers on Instagram alone.

Source: Dubai Mall Instagram profile

4. Engage website visitors with a social media widget

The content you invest time creating for your social media fans should go beyond the platforms you publish it on. For example, a social media widget lets you display content on the shopping mall’s website from all your social media accounts.

Every new post published on your company’s profiles will be automatically added to the social widget. You can further curate the content, only choosing content around a specific event or campaign.

Apart from the content you create, you can use a social media widget to collect and display posts that customers and influencers share on social media. They will make valuable social proof for your website.

Embed a social media widget on your website in minutes!

If your shopping mall has locations in different countries or cities, you can create a customized social hub that displays content relevant to each site. 

Here’s a great example from STOP SHOP – an IMMOFINANZ-brand for retail parks in Central and Eastern Europe. They have over 90 retail parks in nine countries and do a great job sharing relevant social media updates using Walls.io social hubs on websites in different countries. Each social hub aggregates content from STOP SHOP’s social media accounts suitable for that location and language. Here are two examples from their Austrian and Slovak websites.

5. Combine user-generated content with digital signage

Displaying your social media feed and the user-generated content you collected using your official hashtag on digital signage is a great way to connect your online and offline marketing efforts. 

Setting a social media screen benefits your marketing communication strategy in many ways. It enables you to connect with the audience, boost sales and brand awareness, promote your events and tenants, and keep your community engaged.

Here’s a great example of how shopping malls across South Africa used social media displays to feature authentic user-generated content from Cadbury’s holiday campaign. Cadbury SA encouraged customers and fans to share a message of appreciation using the hashtag #CadburyFestive. The best posts would be featured on billboards throughout the country every Friday. The social displays gave people a good reason to participate in the campaign and share their messages on social media using the official hashtag. Read more about the hashtag marketing campaign.

Set up social media displays for your shopping mall and encourage visitors to share their their experiences.

6. leverage user-generated content in your advertising.

Product reviews from other people influence us. Existing customers provide social proof for potential ones that your brand is worthy of their time and money. Most importantly, you are now selling your products to the first generation of digital natives. And they are incredibly ad-averse. They prefer authentic, inspiring content echoed by the voices of real people. 

Someone might not click on a regular ad for your brand, but they are likely to click on a post their friends have shared about it. Drive conversions with authentic UGC from existing visitors raving about how happy they are visiting your shopping mall, joining events or fun competitions organized by your tenants.

User-generated content lets consumers see what other shoppers say about your shopping mall and can help foster a sense of trust that motivates them to visit and make a purchase.

Through social media advertising, you can maximize user-generated content to attract new customers, establish a positive reputation, and provide value to first-time and frequent visitors.

7. Use influencers related to your target group

When it comes to marketing ideas for shopping malls, influencer marketing cannot be left out. It’s a great way to expand your reach. Find a handful of influencers relevant to your market and ask them to promote your hashtag, tweet, retweet, and create content around events happening at your shopping mall. You can even involve your tenants and get influencers to promote new collections or giveaways your brands are organizing. 

Involving influencers works great for Ivana Ljušić Ristić, Marketing Manager at Rajiceva Shopping Center.

Marketing Manager at Rajiceva Shopping Center

Regarding social network communication, we cooperate with leading influencers related to our target group. We organize a photoshoot at least four times a year; it’s essential to cover the products our tenants offer and the various promotions and benefits we provide. On our social profiles, we often show the specificity of the range we offer.

8. Validate all your shopping mall marketing ideas

You can get creative when it comes to marketing ideas for shopping malls, but it can be that you end up with a bunch of great ideas on the table. Would they all work for your target audience, though?

If you can do it, ask before you invest a lot of time in a new initiative. Validating ideas with the social media community works great for Rana Abdelkhaliq, Senior Marketing Manager at Fairlane Shopping Center.

Rana Abdelkhaliq, Senior Marketing Manager at Fairlane Shopping Center

At our shopping center, I like to survey our followers before introducing a new concept/event at the mall to ensure an audience for it. For example, we started monthly Zumba and Salsa classes as part of our wellness Wednesday health initiative. We have 60,000 followers in our database, so I first suggested the idea on Instagram, and people took a liking to it. We got reposted, and email open rates were higher than ever; that was our green light, so I would always try to get a feel for something before applying it. We also had a sip and dip event for valentines/galentines; people loved that concept!

Make those marketing ideas come true

It’s time for you to attract people to your shopping mall. 

So start benefiting from the marketing ideas for shopping malls shared in this article. Create your official hashtags and incentivize people to share their experiences. Make sure you monitor the hashtag across all social networks and use a social media feed widget to collect and display that content on your website or social media displays . Then, use that content to spread the word about your shopping mall and attract more visitors. 

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How to develop a business plan for your mall kiosk.

Succeeding in business starts with a plan. A kiosk may be tiny compared to traditional retail operations, but it’s still a serious enterprise — just ask anyone who’s tried to run one (or more). In order to be successful, there are important steps you should take and factors to consider as you develop a business plan for your mall kiosk .

Decide what to sell.

Profitability and growth hinge on choosing the right product(s) . Successful kiosks sell merchandise that is different from what shoppers can find elsewhere. You’ll do best with a narrow range of products but an impressive depth of selection within that range. For example, fragrances, small electronics, designer eyewear, and jewelry are some of the most successful products to sell at kiosks. Ask if your mall has a list of embargoed products.

As you’re researching possible products, ask about the ordering process and delivery timing. The last thing you want is to run out of inventory. Make a calendar so you can anticipate heavier sales periods. 

Choose your location.

You’ve already decided a mall is the right venue for you. But which one? Research community and mall-specific demographics to be sure they match your target audience. Placement within the mall makes a big difference, too. Malls typically forbid competing kiosks, but you do want to be located near inline stores that draw customers like yours.

Will your kiosk be temporary/seasonal or a permanent year-round business? 

Develop a budget.

You’ll need capital to cover your startup costs and at least a few months of operating expenses. You also need to know all your one-time and ongoing expenses in order to price your products and know if you’re making a profit. Ask if your mall takes a percentage of your sales on top of your monthly lease payment. Ask about other fees — for advertising, maintenance, etc.

If you need financing, a strong business plan for your mall kiosk will show lenders you’re serious. If you’re a first-time entrepreneur, your business plan will boost your credibility with mall management, too.

Design your kiosk.

Usually, you can lease or rent a kiosk from mall management. Some malls require you to do this, others will allow you to purchase your own kiosk . Find out what your mall’s requirements are, then consult with a display design expert about your kiosk’s details. You want your presence to be as unique as possible, and the physical design and fixtures should be perfectly aligned with the products you plan to sell.

A business plan for your mall kiosk has to address marketing.

Sure, you’ll have a “guaranteed” audience of thousands of mall shoppers. But, how will you capture the attention of passersby and attract them to your kiosk ? Two great ways to do that are providing demos of products and handing out samples. You should also ask mall management about advertising and promotions plans. If there's a mall-wide event, take full advantage. Gather customers email addresses and promise to send exclusive offers. 

Your smartest marketing move will be to learn everything you can about visual merchandising . Even the hottest products won’t sell if your kiosk looks a mess or it’s overstuffed. On the other hand, irresistible displays and friendly, helpful interactions will attract customers and keep them coming back. So make that part of your plan, too.

And don't forget about social media. Millions of people follow business' social media accounts. Use it to your advantage by creating your own business accounts, posting photos, special offers, new products, etc. 

Of course, each entrepreneur's business plan will vary, but this is a great foundation to start from. The most important thing to remember is to take your time and put a lot of thought into this plan. The more solid your plan is, the more likely your kiosk is to succeed. 

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7 Steps to Creating a Shopping Mall Construction Plan

Shopping malls have been a key component of the retail industry for over 100 years. With the rise of e-commerce, malls remain an important gathering place for people who want to experience shopping and entertainment. However, creating a shopping mall construction plan is a challenging task. This process involves a significant amount of research, planning, coordination, and execution. 

In this blog, we will outline seven essential steps involved in creating a shopping mall construction plan.

Site Selection and Analysis

Location is everything regarding any real estate purchase, especially in the retail industry. Not only does the location need to be close to populated areas, but it also needs to be in the right market. During the site selection, the developer, architect, and visionary will weigh the proposed land’s pros and cons. The site analysis will examine zoning, soil type, and other environmental concerns. It will also look at population demographics essential to attracting the right retail and entertainment tenants. Building on the wrong type of land or in an area with special ordinances can deter potential investors and retailers.

Design and Vision

The right land can majorly impact the overall design of a shopping mall. The lot’s size will determine the building’s size and consider the customer’s needs, including parking, pedestrian and public transit access, and safety. The mall’s layout should also consider the location of anchor stores, specialty stores, food courts, and additional entertainment, such as movie theaters. 

During the design phase, the architects will work with the customer to bring their vision to life in drawings and 3D models. The design phase for a large-scale project like a shopping mall can take several months with multiple rounds of revisions. This phase is crucial to the project as it can help bring in early investors and store renters.

Financing and Budgeting

The financing and budgeting step is critical to determine the project’s feasibility. The budget should include all costs associated with the construction, including land acquisition, permits, design, and construction. Other considerations to include in your budget are marketing and a contingency budget to account for any potential unoccupied storefronts.

After finalizing designs and costs, the next step is securing additional funding. Large commercial properties used for retail and entertainment can be a lucrative opportunity. Obtaining early funding will help bring the project one step closer to reality. Having additional capital can also help retailers feel secure that you are willing to invest in their location’s upkeep, security, and safety.

Permits and Approvals

Before breaking ground, the next step is to obtain the necessary permits and approvals from the local governing authorities. This step involves obtaining a construction permit, environmental permit, and other regulatory approvals. Additionally, you will need insurance coverage before the project starts. Depending on the provider, you may need coverage for the project, materials, workers, and land.

Construction and Project Management

Shopping mall construction can take months to a year or two to complete. During this time, the project manager can help ensure everything runs smoothly. It is important to vet your project manager and choose one with experience in large-scale and preferably retail/shopping mall construction. An experienced project manager can greatly improve the flow of the project. Commercial construction involves many elements, including site preparation/excavation, foundation work, framing, electrical and plumbing work, and finishing.

Tenant and Store Selection

In some cases, tenant selection can begin during the construction phase. Larger retailers may want or have specific requirements before agreeing to sign a lease. Regardless, most tenant selection begins once the building is complete. This step involves negotiating leases, selecting tenants that fit the mall’s concept well, overseeing the store build-out process, and advertising. 

Some retailers may work with the original builders to design a storefront to their specs. At the same time, franchises may be bound to work with specific crews that are trained according to company policy. 

Marketing and Grand Opening

Once stores are selected and occupancy reaches satisfactory capacity, the final step is to market the shopping mall and plan the grand opening. While there may have been buzz build-up as soon as you break ground, the big reveal will require much more planning. The final marketing campaign should be designed to attract customers and create buzz around the mall’s opening. The grand opening should be well-planned and executed to ensure a successful launch. It may include collaborating with tenants to help promote their specials and giveaways for the big event.

Creating a shopping mall construction plan is a complex process that involves many steps. It requires careful planning, coordination, and execution. Following these essential steps and working with an experienced team like Division 9 Commercial Construction , you can create a successful shopping mall that will attract customers and provide a unique retail and entertainment experience.

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How To Start A Shopping Mall Business in India – Complete Guide

• March 15, 2024
• by Next What Business Research Team

The shopping mall is an emerging and lucrative business in India. However, the business demands the right strategic planning with financial and marketing planning. Here in this article, we intend to explore the steps to follow to start a shopping mall business in India.

Nowadays, the shopping mall is not a business only for metropolitan cities. This big retail business venture is fast becoming successful in Tier 2, and Tier 3 cities, and small towns as well. If you have a good location with sufficient capital to invest, you can think of opening a shopping mall. However, there are a lot of other factors that you must consider before starting this business.

Is the Shopping Mall Business Profitable in India?

Shopping malls are gaining tremendous popularity these days. And definitely, there are several reasons behind it. According to retail industry experts, the demand for the mall will increase in the coming years. And we can expect significant growth in the shopping mall business throughout the country.

Generally, shopping malls offer a comfortable and luxurious shopping experience. Additionally, a mall offers a lot of activities and means of entertainment. Apart from the shopping, it offers movies, a games plaza, a banquet hall, a food court, and enormous events throughout the year. As a result, shopping malls are becoming popular hangout destinations for city residents.

10 Steps to Start a Shopping Mall Business in India

1. Market Research and Feasibility Study

Conduct thorough market research to identify potential locations, target demographics, and competition. Analyze consumer preferences, purchasing behaviour, and demand for retail spaces in the selected area. Assess the feasibility of the project by evaluating factors such as population density, economic growth prospects, infrastructure development, and regulatory environment.

2. Business Plan Development

Develop a detailed business plan outlining the objectives, target market, value proposition, revenue model, operational strategy, and financial projections for the shopping mall. Define the mall’s concept, theme, and tenant mix based on market research insights and consumer preferences. Determine the size and layout of the mall, as well as the amenities and facilities to be provided.

3. Secure Funding

Estimate the initial investment required to acquire land, construct the mall, and cover pre-operational expenses such as licensing, permits, and marketing. Explore financing options such as bank loans , equity investment, or partnerships with investors or developers. Prepare a comprehensive financial model highlighting projected revenues, expenses, and return on investment (ROI) to attract potential investors.

4. Site Selection and Acquisition

Identify suitable sites for the shopping mall based on location, accessibility, visibility, and proximity to residential areas, commercial hubs, transportation hubs, and major thoroughfares. Negotiate with landowners or developers to acquire the land or enter into lease agreements for long-term development.

5. Obtain Necessary Approvals and Permits

Obtain the required approvals, permits, and licenses from local authorities, municipal corporations, urban development authorities, and regulatory bodies for land acquisition, construction, environmental clearances, fire safety, building codes, and zoning regulations. Ensure compliance with applicable laws and regulations governing real estate development and commercial operations.

Read :  How to Register a Company in India

6. Design and Construction

Hire experienced architects, engineers, and construction contractors to design and build the shopping mall according to the approved plans and specifications. Focus on creating a visually appealing, functional, and efficient layout that maximizes retail space, enhances foot traffic, and provides amenities such as parking, landscaping, security, and utilities.

7. Tenant Acquisition and Leasing

Attract reputable retail brands, anchor tenants, speciality stores, entertainment venues, restaurants, and service providers to lease space in the shopping mall. Develop attractive leasing packages, negotiate lease terms, and sign agreements with tenants based on rental rates, lease duration, tenant improvements, and revenue-sharing arrangements.

8. Mall Management and Operations

Establish effective mall management systems and procedures to oversee day-to-day operations, maintenance, security, cleaning, tenant relations, marketing, and customer service. Hire qualified staff, security personnel, maintenance crews, and service providers to ensure smooth functioning and a positive shopping experience for visitors.

9. Marketing and Promotion

Implement a comprehensive marketing and promotional strategy to create awareness, generate footfall, and drive sales at the shopping mall. Utilize a mix of traditional advertising, digital marketing, social media engagement, events, promotions, loyalty programs, and partnerships to attract shoppers, enhance brand visibility, and foster customer loyalty.

10. Monitor Performance and Adaptation

Regularly monitor key performance indicators (KPIs) such as foot traffic, occupancy rates, sales per square foot, tenant turnover, customer feedback, and financial metrics to assess the mall’s performance and identify areas for improvement. Continuously innovate, adapt, and optimize operations to meet evolving market trends and consumer preferences.

Cost of Starting A Shopping Mall In India

There are various types of costs when you are building a mall or shopping center. The entire process starts with market research and ends with marketing and maintenance. The start-up investment will also depend on the size and location of the shopping mall. Here we put some of the basic input costs to open a shopping mall.

• First of all, you must do some market surveys or market research . It helps in making an informed decision. Therefore, it makes the project profitable and eliminates the possibility of failure.
• Finding the location and acquiring the land. You must be prepared to invest a considerable amount of investment. The right location is extremely critical for the success of a shopping mall business.
• After that, you will need to create an architectural drawing and design including the estimate. And definitely, this costs a lump sum amount. In the designing part, there are several design formats. And you have to create those formats for permission from the authority. It includes the site map, elevation, structural design, electrical design, overview, etc.
• After getting the plan, the next part is sanctioning the project from the corporation or Municipal authority. And here, you will need to pay the fees.
• Next is the construction cost. It includes material costs, labour charges, and consulting costs.
• Additionally, you must prepare the interior of the mall. It includes a ceiling, flooring, toilets, doors, windows, lighting, air conditioning, etc.
• Furthermore, there are some costs for the exterior facilities. Here the list includes pavements, security room, parking space, landscaping, etc.
• After building the complete infrastructure, some costs are required for marketing and promotion.
• For running the mall, you will need to employ employees. According to the size of the mall, this cost varies.
• And finally, You must have the capital for expenses like maintenance, utility bills, etc. Because in initiating a shopping mall business you must have working capital for the first 6 months.

Frequently Asked Questions

What is the typical timeline for building a shopping mall from start to finish.

The timeline can vary depending on factors such as land acquisition, regulatory approvals, construction complexity, and tenant leasing. On average, it may take 2 to 4 years or more to complete the entire development process.

How much capital investment is required to start a shopping mall business?

The capital investment can vary significantly based on factors such as land cost, construction expenses, infrastructure development, tenant fit-outs, marketing, and operational costs. A rough estimate could range from several crores to hundreds of crores of rupees.

What are the key factors to consider when selecting a location for a shopping mall?

Important factors include demographics, population density, purchasing power, accessibility, visibility, proximity to transportation hubs, road networks, parking facilities, competition, and potential for future growth.

What are the common revenue streams for a shopping mall business?

Revenue streams typically include rental income from tenants, revenue-sharing arrangements, parking fees, advertising and promotional revenue, event hosting fees, and income from ancillary services such as property management and facility rentals.

What are the legal and regulatory requirements for operating a shopping mall in India?

Legal requirements may include obtaining permits and licenses for land use, construction, fire safety, environmental compliance, signage, food safety, and entertainment licenses for cinemas or event spaces. Compliance with local municipal laws and building codes is essential.

What are the risks and challenges associated with operating a shopping mall business?

Risks include economic downturns affecting consumer spending, changing retail trends, competition from e-commerce, tenant turnover, regulatory changes, security threats, and operational issues such as maintenance and tenant disputes.

Is it advisable to invest in a franchise or partner with a developer for a shopping mall business?

It depends on individual circumstances and preferences. Partnering with an experienced developer or investing in a reputable franchise can provide access to expertise, resources, and established brand recognition, but it’s essential to carefully evaluate the terms and risks involved.

Small Business Trends

50 small business mall kiosk ideas for aspiring entrepreneurs.

Steps for Maximizing Your Mall Kiosk Business Potential

It’s not just about picking a product you’re fond of – the essence of profitability and success of your mall kiosk is in the selling approach.

No.	Strategy	Description
1	Differentiate Your Offerings	Focus on a specific product category and offer a comprehensive range of options within it. For instance, if you're selling purses, provide various designs, hues, and sizes. This sets your kiosk apart and increases the chances of customers finding what they want.
2	Prioritize Universal Appeal	Aim to cater to a broad audience by offering products that appeal to many rather than niche items. Instead of specific designs like "Hello Kitty" cases, offer a range of phone cases suitable for multiple models. This ensures you reach a wider customer base.
3	Enable Product Interaction	Allow customers to physically engage with the products. Let them try or test items before buying, which can lead to increased sales. If people can touch and feel a product, they are more likely to make a purchase.
4	Aim for Affordable Price Points	Opt for products that are generally priced below $30, catering to the impulse-buying nature of kiosk shoppers. However, ensure these products still offer a good margin to cover your costs and generate a profit. It's counterproductive to sell a $15 item if it doesn't provide adequate returns after accounting for rent, overheads, and other expenses.
5	Prioritize Product Quality	High-quality products are essential for building trust and credibility. Gone are the days when kiosks were associated with low-quality items. Ensure that your products not only satisfy customers but also enhance your brand's reputation, paving the way for future growth.

Evaluating the Top Mall Kiosk Ideas: Our Methodology

50 mall kiosk ideas to consider, 1. snack foods.

Shoppers often get hungry in the middle of their shopping trips. And snack foods like pretzels, cookies and other easy-to-carry items can be popular.

2. Quick Service Food

7. electronics, 8. mobile phone repairs, 9. mobile phone accessories, 10. artwork, 11. posters, 12. custom portraits.

For the artistically inclined, you can even set up a stand where you offer custom portrait services for shoppers looking for unique purchases or gifts.

13. T-Shirt Customization

14. engraving service, 15. embroidery service, 16. airbrush service, 17. handmade items, 18. sporting goods, 19. flowers, 20. pawn shop, 21. used books, 22. gold exchange.

You can even set up a gold exchange where customers can bring in their jewelry and other gold or silver items in exchange for cash.

23. Cosmetics

24. makeup artistry, 25. spa services, 26. hair products, 27. temporary tattoos, 28. ear piercing, 29. jewelry, 30. jewelry and watch repair, 31. sunglasses, 34. shoe shining, 35. vintage clothing, 36. leather goods, 37. baby products, 39. kids’ activities, 40. vitamins, 41. home improvement services.

If you offer home improvement products or services, you can set up a mall kiosk where you speak with customers and show them samples of your work to get them to sign up or purchase a service for a later date.

43. 3D Printing

44. virtual reality headsets, 45. video games, 46. pet items.

Pet owners are known for buying a lot of different products for their furry friends. You can offer anything from artisan dog treats to Halloween costumes for cats.

47. Balloons

48. face painting, 49. caricatures, 50. gift baskets, what sells the best at a mall kiosk.

Mall Kiosk Business Plan – 9 Things You Have To Include

We know what it takes to get into a high-foot-traffic mall, and we also know how difficult writing a mall kiosk business plan can be. Creating a business plan is one of the most important steps as it serves as your road map for the early years of your business. Follow this mall kiosk business plan from Scan Retail and you’ll end up with winning deck:

• Business Overview – If you want to woo mall management, then you need to start with a brilliant pitch and business vision. The purpose of your pitch is to develop a blueprint of your business’s vision and strategy and then use this plan as a guide to develop and grow your business. Your business plan will also be used to align the various elements of your brand to create a consistent and articulate system of sustainable customer satisfaction and profitability.
• Management Team – How experienced are you at running a mall kiosk business or any business? Talk about your sales and entrepreneurship experience, as well as your team’s experience. You don’t have to go overboard, just mention a few very brief highlights of each member’s background that relates to the business at hand.
• Products and Services – How unique are your products or services? What problems do they solve? Mention your key competitors—but always be humble and nice. Explain what gives you the competitive edge over your competitors.
• Market Potential – Are your products and services a growing industry, and what makes your products and services a good fit for this mall? Introduce a problem that is relatable to both your target market and the mall. Statistics can help you support your comments but mention only a couple at best. You want the mall manager to relate to the problem/s or at least understand how it affects their mall. Briefly describe in simple terms how your business has figured out how to alleviate the problem you have mentioned and make sure the mall manager understands that you have a unique approach.
• Pricing Strategy – How are you going to pay your rental bill? Discuss your revenue sources as well as your pricing structure, and then talk briefly about how you expect to profit.
• Marketing Strategy – Very importantly, how are you going to drive traffic to the mall? Who are your customers, are they male, female, both, or are they, children? If you’re going to create a dynamic advertising and promotional campaign, present your marketing plan in a few short words with specifics. Let mall management know you have a plan for marketing.
• Retail Space Requirement – How does the kiosk fit into the mall environment? Can your Kiosk be positioned away from similar in-store businesses?
• Sales Forecast – Every business must have a long-term strategy and this is where you should show a clear financial projection with a three-to-five-year forecast. Explain the method you used to arrive at your numbers.
• Important Milestones – Show mall management where you are at present, what have you done thus far and how are you are looking to move forward. Present a positive call to action based on what you’ve accomplished to date and what you’ll accomplish in the future.

Being an entrepreneur is one of the most rewarding yet challenging things you can do in your lifetime. It offers the opportunity for incredible achievements, but also great failure, so keep in mind that even though you’re operating out of a mall kiosk , you will deal with the very same challenges as an in-store business. If you’re determined to be successful and have a good service or product-line with a flexible free-standing mall kiosk that is unique, sophisticated, interactive and modular, the money will follow.

You can download a free mall kiosk business plan here and adapt it for your own business. After which Scan Retail can help you secure a mall space and implement disruptive technology which has an enormous impact on the in-store retail industry. Scan Retail will not only get you into a high-foot-traffic mall, but we can customize your mall kiosk to the exact design to suit your products and mall needs. In addition to our standard and customized modular mall kiosks, we also offer excellent finance options and free consultation to help you secure a mall space.

Contact us now to find out how we can help you set up your mall kiosk business.

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