How Do Your Business Cope With Shop Rent Increment

[Hena101]

This is something that usually happened time to time the only thing i do is that i will pay the increment if I'm getting more sell but if I'm not getting i will prefer to change shop.

 

[Grandeur]

That was what she did. She relocated her shop to another one closer to the old one and even bigger in size with lesser monthly rent payments.

And how is the turnout now? What difference did the relocation bring that we can learn from, is there another thing you think you may have done better.

 

[Snazzy001]

This highly depends on the degree of dialogue between you and the person renting the shop for you, if you could really reach an understanding limits then it is fine

 

[Niftyyem]

Increase in rent is every tenant's nightmare. In the scenario of the op's mother, I think she should move or find a way to get the Landlord responsible for every renovation she makes by informing him ahead and deducting it from the rent.

 

[Setho]

Whenever there is an increase in the rent that we pay for the apartment that we use we normally reduce the quality of our product a little and also increased the price to meet with this new development.

 

[Setfragil]

And how is the turnout now? What difference did the relocation bring that we can learn from, is there another thing you think you may have done better.

She still maintains her previous customers and have even gained more customers to her business. The relocation really favours her than she would have thought.

 

[Ralphjoe]

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.

I completely agree with you that shop in cream and should not be an obituary action that any landlord or shop owner should do but instead it should really be justified maybe as a result of the rising inflation or probably as a result of the increment of a particular cost of the housing.

 

[Grandeur]

She still maintains her previous customers and have even gained more customers to her business. The relocation really favours her than she would have thought.

Sometimes, the things that we fear often turn out to be something favorable and we just scared all along, relocating a business might be the ground breaking success your business might be waiting for

 

[Setfragil]

Sometimes, the things that we fear often turn out to be something favorable and we just scared all along, relocating a business might be the ground breaking success your business might be waiting for

You are very right because she never thought that the relocation will never affected her business positively in such an impressive way.

 

[kayode10]

This is the reason why you need to employ a bookkeeper for your company. He is the one who will help you to determine how you will deduct the increment from the profit before tax at the end of the year.

 

[Setho]

Whenever there is an increase in shop rent order very important factors I believe that it is the best interest of my business to either increase the cost of the product or to reduce the quality or even both.

 

[Grandeur]

You are very right because she never thought that the relocation will never affected her business positively in such an impressive way.

That's why they say without risk there is no reward, in business one should learn to take calculative risk that would move the business further.

 

[Kubiat-Abasi]

Well, some shop rent increment is too outrageous. Also, the prices of goods at the moment may be static, how do you leverage on the products when other people may be selling such items at subsidized rate? I'll just look for another shop if the options are unfavorable.

 

[Joshua Idongesit]

my main shop is actually in my house and my second shop is rented shop, though my rent is not recently increased but that was done early last year. we had no option than to pay. some online engagement during that period really helped.

 

[Yhubee]

This is not always easy.I would either increase the price of my goods or move to another place,I may lose my customers but if I find a better place I can always get new customers .

 

[Shigobad20201]

It has not been easy to cope with shop rent increment and its normally happening almost everywhere , the landlord increases rent every year without even putting you into consideration by knowing if business is moving or not.

 

[Heatman]

This is actually one of the biggest challenges most people face when it comes to having a business shop and a home to pay for its rent at once. When the shop rent is increased, it affects everything for the man.

 

[Immilash]

The increment of the shop rent will also have effect on the price of the products you sell, that's the best way to handle it, no body wants to be in a business without profits.

 

[Justin]

When your business running cost increases, you should also increase your product price. rent increment increases your business running cost, therefore, when your rent increases you will also have to increase your product price.

 

[Kane]

When rent increases, your business running cost also increases, you have two options, either to add price to your product to cover the running cost or continue selling for the same price for less profits.