How Do Your Business Cope With Shop Rent Increment

[Setfragil]

My mother manage a small business in a shop for like 20 years now. Every year since 2013 the landlord of the shop has always been increasing the rent without carrying out any renovation on the shopping complex where my mother has her shop.

There was a time the roof of the shop was damaged by wind, the landlord refused to repair it. We had once considered changing her shop but the fear of losing her customers made her not to do so. How can she cope with the yearly shop increment?

 

[WhiteHouse]

First of all, the shop increments will have to justified and it won't just suddenly be increased, it will have some Influence and impact on the whole business.
You've to re-strategize, maybe slightly increase prices or you just reduce your profit gain.

 

[Ibrahim1]

Yes Business will Cope With Shop Rent Increment because the renter is going to gain everything because from Is products he or she will get is gain and shop rent increment from what he or she realised and still get extral money to boost his business​

 

[Frank]

There is absolutely nothing you can do when there is such an increase in rent. It is his land and he can charge any fee for rent. If your mom is not making money that is enough handle the rent, then looking elsewhere for a new shop is good.

 

[Trexxxy]

I think your mum needs to confront the landlord of the shop about the yearly increments, also she can leave if she feels the rents are not justified. There are going to be customers anywhere else, she could just tell the customers her new location.

 

[Shaffy]

This sounds like unfair treatment because she has been silent for a long while about it.

If she can, it will be best to move to a different location, since such people will never be considerate, from my experience.

 

[Psalmsavatar]

Most often, increase in shop rent is a deliberate action done to frustrate the growth of the business. Sometimes it is done out of envy or pride. The best thing to do is find a nearby alternative which won't lead to loss of patronage but if the alternative is not feasible, the business owner will continue to endure.

 

[sam386150]

The only way you can cope with shop rent agreement is to increase your product like added more product into the shop different here in Nigeria we sell different things in the shop the enable you cope with the shop rent you cannot deal with one item in the shop and then you think you can make it

 

[Peppul]

The problem with shop owners is that they don't care if you make sales or not all they are after is how they will make their own profit. Increment of shop rents is really affecting business owners because if you calculate your sales and profit at the end of the day most times it will be difficult to meet up with shop rent. My wife run a small business and most times she make sales and sometime she doesn't at all, but the one thing she always complains about is how high the rent is and how it's affecting her profit because most of her profit goes to the shop rent. That's why you see people now adapting to the trend of buying a small piece of land and putting up a small shop that way the cost will be little or building a shop in fornt of their houses.

 

[kayode10]

This can be very tough as you might not be expecting this before. When this increments arises, it intercept somebody's plan. that's why it is good to save ahead of the time in case of unforeseen circumstances.

Haven't said that, the simple way out for your mum is to plead with those people and pay them at least six months rent. Then she should fashion way out to pay the remaining of the money.

 

[Kelly5]

My mother manage a small business in a shop for like 20 years now. Every year since 2013 the landlord of the shop has always been increasing the rent without carrying out any renovation on the shopping complex where my mother has her shop.

There was a time the roof of the shop was damaged by wind, the landlord refused to repair it. We had once considered changing her shop but the fear of losing her customers made her not to do so. How can she cope with the yearly shop increment?

If the owner of a shop where you run your business increases the rent one has no choice about it but to bear the cost which invariably will transfer to our teaming customers. This increment in rentage where we run our businesses is a very very major challenge in business

 

[Sariana23]

The increase in the rent payment from the owners is generally made when the contract is renewed, therefore you should anticipate this increase in the business and include it in the expenses. The repairs that must be made is also an agreement reflected in the contract and agreements must be reached with the owner.

 

[Erik4150]

This is a very difficult situation and it is something that a lot of business owners don't want to encounter. But as for me, if the rent is too much I will probably find a new shop. Paying huge rent will affect my income negatively.

 

[joy101]

I think there is nothing you can do about the shop increments, what you can do is to look other side if there is any cheaper one to rent, this is very difficult situation that no business owner will like to encounter.

 

[Sammyesx]

That is unfair, the increment is not supposed to be a yearly thing, she should make an agreement with the landlord for any amount she spent in renovating the shop then it should be deducted from the rent she is supposed to pay.

 

[eenya001]

This is one of the many issues surrounding folks that businesses are based offline, you get to deal with various factors that could slow the growth of your business from increment in shop rents, to various government levies, cost of running the business and lots more

 

[Dylinks]

It is normal to expect an increment in the rentage of shop within 3 years as stipulated in the law governing tenancy. You need to increase your products to match the ever increasing rentage. Most owners of shop increases rentage once they discovered that you products/services is booming. Here in Nigeria, things are highly skyrocketing. You can join with another person in your line of business to rent the shop if the money is too much.

 

[Ridorz]

I think the only thing to do about the increasing of the rent price is to leave the shop and if your mom don't want to Leave the shop due to that she don't want to loose her customers, I will advise her to find another shop around the street that will no far to formal shop. That is my own opinion.

 

[Donkiz]

Unfortunately there's nothing you can do because the landlord's attitude is like he's saying if you are not okay with the increment you can pack out. If the shop location is inside a market, he can be reported to the market union so they can call him to order, but the best thing is to look for another shop within the location and relocate.

 

[tyrim88]

If your mum cannot cope with the rent increase base on your cash inflow,you can decide to find another place for your business. Concerning your customers you can always get new once,if you leverage on price slash on few products and leave some at normal price