How Do Your Business Cope With Shop Rent Increment

[Seno inyang]

The only way I cope with yearly increment on shop rent is just by topping an item price. There is another method I used which was of great help to me. I accommodated a friend who needed a small space to sell some pies since my shop was close to a school, so I had to give her a space at the frontage of my shop but we had an agreement that she will be contributing a little to the shop rent.

 

[Toyoabasi]

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?

These days, the situation is becoming alarming. My aunt who rents a shop for her tailoring business now has to pay additional $10. She fears losing her customers or moving to a place where she might not get a lot of customers like in the present location.

 

[Adebayonle7]

This is a tough situation, if your Mum makes very good profits from the shop, she can always do the repairs herself because leaving such location may mean losing the customers. If the rent cost is raised, your Mum has to increase the cost of some of her products.

Another option is for your Mum to search for another available shop which is very much close to the current one, by this, she will easily direct her customers to the new shop without stress.

Some landlords can just be inconsiderate.

 

[eLdavis]

The only way I cope with yearly increment on shop rent is just by topping an item price. There is another method I used which was of great help to me. I accommodated a friend who needed a small space to sell some pies since my shop was close to a school, so I had to give her a space at the frontage of my shop but we had an agreement that she will be contributing a little to the shop rent.

Though toping the price of items is a good way to earn more but I feel with time this would backfire on you. It would get to a point whereby customers would no longer want to purchase goods from simply because what they get from you for $7, they can easily get it somewhere else for $5.

 

[Josan]

I'm actually in this shoe presently and I know what it feels like in the increment. The good thing is that in my company I pay salary to everything I use that's why I'm not really feeling it because all I do is just get to the rent account, get the the money and pay.

 

[Sotherefore]

Well there is nothing special and if my company is able to pay and manage the rent increment fine I will continue staying in the rented apartment but if I am not able to generate enough money that is needed to cope with the rent increment then I have to look for somewhere else that I will be comfortable with.. some tenants over here increase rent unnecessarily.

 

[Godspower]

It's so unfortunate that most building owners tend to increase rent anytime they feel like without consideration. Your mum should try to provide a little space in the shop to someone else and then the person can be paying her little money monthly. This will help when she wants to pay her rent.

 

[YERUS]

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?

This issue of increment in house or shop rent is really a problem for many businesses.
Early this year, my landlord added some money on my shop rent, it was so disturbing because he knew that last year's sales was not very profitable due to the pandemic. Now i have to increase the prices of most products so i can make up for the increased rent.

 

[Immilash1]

That is another major problem business men are facing this days,but I suggest as a business owner you just have to get the shop on your own,you should either buy or build shop.

 

[Shigobad20201]

Shop rent increment has been an issue for small business, small business are the most people facing this kind of issue whereby the owner keeps increasing rent when they realises markets at moving and they know the tenant don't have any option than to pay.

 

[Ub40]

It is rather unfortunate that your mother went through such stress from the said landlord. As far as I know, the tenant has the right to know why his or her landlord is increasing rent. And it supposed to be done following due process as stated by law. It is rather unfortunate that such is not considered in most of the cases.

 

[kinqzbitz]

Well it is normal for this things to happen and so you must always be prepared for things like that no matter what and when things like that happen I try to increase the price of some of my goods

 

[eLdavis]

Well it is normal for this things to happen and so you must always be prepared for things like that no matter what and when things like that happen I try to increase the price of some of my goods

But don't you think increasing the price of some of your goods might backfire on you? Once customers find out your price is higher, they would easily to other shops where they can get it at a lesser price.

 

[kayode10]

It can be very shocking if the implement comes all of a sudden. Youu don't have any other choice than to look for a way to pay the money. I will advise you to start saving so that you be able to meet up with the implement at the end of the year.

 

[Skysaint]

Well, although I am not running any retail stores or business but I do here those in the public market complain about a similar situation. Those who are in a store complain about increasing tax and rent while those without stores do complain about tax

 

[Ghost1]

I really do need an answer for this. Sometimes the profit is the same of reduced and the expenses (rent) is increased. This could crumble the business

 

[Good-Person]

In my country, there is a rule that states that you may increase rent every single year. Inflation is destroying the country and it makes sense for people to increase rent. However, most of the time, people simply cannot afford rent and they move to a poor neighborhood in my city to find a new shop.

 

[Heatman]

That is another major problem business men are facing this days,but I suggest as a business owner you just have to get the shop on your own,you should either buy or build shop.

When you have a bad landlord it is always a very common thing that he will be increasing your shop rent all the time without considering the tough time the whole economy is having on everybody.

 

[Shigobad20201]

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

Its not easy to cope with shop increment most of the time because the landlord decided to increase the price of the shop when he or she sees another tenant that wanted to pay more , and most of the times, moving is somehow hard because of money and the customers.

 

[jay]

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?

This is actually the reason why a lot of people are trying so much to buy their own shop in order for them to be their own landlord and not to worry about having the shop rent being increased on yearly basis.