How Do Your Business Cope With Shop Rent Increment

[Shigobad20201]

There is gradual increase in the price of everything in the market lately due to the poor economic condition, so as the shop increment is being implemented , so as the price of goos in the market will also increases.

 

[nana kwasi1]

Is not that easy with rent shop increments but sometimes u have to manage and know how you will keep u will use your profit to feel up all this things

 

[Sincerem]

If the location is perfect I wouldn't have any problem because profit could be generated to pay the rent agreement . It will only be a problem and I have to quit that when I am not able to regenerate that required money.

 

[Eli342]

That is a significant issue, but before a typical landowner would raise a rent, something significant would have to have changed in the neighborhood or shop. You must ask the landowner to feel sorry for you in order to resolve it, or if the landlord refuses to cooperate, you must find another solution.

 

[Sotherefore]

There is nothing much that would be done here . Personally if my business is generating enough profit in the location then I'll continue paying. I only have to look for somewhere if the location I'm staying is not profitable based on the amount of rent I have to pay.

 

[Shigobad20201]

Due to the economic situation of the country right now , every price of produce keeps increasing and that has also affected the shop rentage which always increase almost every year , if I know my business can cope with the increment , then i will pay but if I know it can't , then I will just seek another place .

 

[Alisco]

Actually shop rent is not affecting my business in any way why because in my locality house or any building rent fee is not much. I can rent a shop in a plaza for #50,000 Wich is maximum rent limit.

 

[Danny4cash]

The problem local business owner always have is the fear of relocation. The landlord is increasing rent every year and it's negatively affecting your business yet you stay there claiming you'll lose customers if you relocate. Once what you're selling is valuable, people will patronise you regardless of where you're.

 

[Genie011]

The inflation has caused alot of hike in the rates we do buy products or services.
If the increase in the shop's rent is unrealistically large, you would definitely need to look for alternative.

 

[Jonaville1]

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?

I think the best thing to do is to change the location of the business but make sure that the new location is also like the previous one or even better so that you will make good sales

 

[Shigobad20201]

The cost of living is going higher daily and its even affecting the price of commodities in the market everyday and that's the reason why the landlord are also increasing their rents , and the price of goods will skyrocket due to the process .
The cost of living is going higher daily and its even affecting the price of commodities in the market everyday and that's the reason why the landlord are also increasing their rents , and the price of goods will skyrocket due to the process .

 

[Abigael]

There is nothing much that would be done here . Personally if my business is generating enough profit in the location then I'll continue paying. I only have to look for somewhere if the location I'm staying is not profitable based on the amount of rent I have to pay.

Yeah, if the amount you have to pay for rent is more than the profit you make, then there is no need to continue staying there. But if it is a great location that gives you so much profit and can pay rent and still pay yourself, you should continue renting there.

 

[Trey]

That is why you need to sit down and agree on terms before paying initial rent on any property. That agreement must be properly documented, signed and filed. As it stands, the best solution is for your mom to relocate from the shop.

 

[Ernestnari]

No matter the kind of business you do, truth is, your rent keep increasing by the year. I'd been a victim as well so here's what I did
I paired up with someone who just needed to open a POS agent money point, that way the rent was reduced. I knew I wasn't going to stay there forever so I dedicated my next few months creating awareness, getting my customer's contacts as well as giving out mine as well for proper communication of my future location.