So which mall will it be?  It’s probably the most important thing you should ask yourself before deciding which mall you’ll be opening your new store.  Many stores suffer a premature death due to unsuitability of the store to the mall.  While some simply cannot cope up with the mall’s high rent, others seem to die from the lack in customer drop-ins.  No matter what the reasons may ensue, there will always be that factor of the wrong choice of mall. 

Here are certain aspects you might want to consider before finally signing the contract of lease.

Customer Traffic.  No matter how good your products may seem, I assure you they will not be sold if there are no customers to buy them.  Before even entering into a contract of lease, you must first consider the location’s customer traffic.  Such a task can simply be done through ocular inspection.  And if you may happen to have spare time, you can grab a clicker and start clicking away as each person or vehicle passes by the mall at a given date and time.  It may sound tedious but through this, you can get a more definite estimate as to the number of potential customers passing through the said area.

Customer Profile.  Aside from customer traffic, it is also critical that you know the local market’s preferences.  Different malls cater to different markets and it is the location of the mall that defines this.  There are malls intended for the more high-end clientele and there are malls that cater to the masses.  Knowing where your product will fit can be the make or break factor for your store’s success.  Bear in mind that there’s no use having high customer traffic if the majority of the mall’s customer population are not willing to buy your goods.

Accessibility.  Customers are opportunistic creatures.  When they need something, they’d probably search for it in a mall most accessible to them.  Given this, a mall’s close proximity to residential condominiums and villages, as well as malls located at the center of business districts, can be a likely determinant in defining the number of potential customers you’ll be getting.

Clustering or non-clustering.  Depending on the type of goods you are selling, you might want to consider setting-up in a mall with a cluster of similar shops or one that has no clustering at all.  There are customers who prefer to shop in locations where there is a clustering of like stores since it gives them more options to choose from.  This type of set-up is typical for stores that sell clothes and apparel, restaurants, health and wellness establishments, and electronics depots.  On the other hand, there are also stores that are more successful in locations without clustering of like industries.  This is archetypal to highly specialized stores whose products are none-the-like.  An example of which are specialized clinics.

Support Facilities.  While the mall’s strategic location will play an important factor in attracting customers, you should also be reminded that customers consider the mall’s support facilities.  A shopper is discouraged to go shopping in a mall without ample available parking.  Shoppers do not like contending with other shoppers just to find a slot to park their cars.  It’s simply too taxing to them.

Aside from parking, the mall should also offer facilities that will cater to commuters.  Bus, jeepney and taxi stations attract commuters to the mall since they will not have to trouble themselves with getting to the mall or going home from the mall.

Rent and Mall Commission.  Another critical factor to consider in choosing the right mall to set-up your shop is the rent and commission you’d have to pay to the mall owner.  Remember that you’ll be signing a contract of lease.  By doing so you will, in turn, be bound by an agreement to pay rent for a certain number of months.  Aside from the rent, you are also obliged to pay the mall owners a certain commission for every good you sell.  Usually, mall owners collect 10% of your gross sales.  If you think your monthly sales will fall short of the dues you have to pay, then I advice that you look for another mall space to rent where your actual sales will be more than enough to pay for your rent expense.

Security.  No matter how strategically located or excessively convenient a mall is, customers will not shop in it if there is no certain level of security implemented inside as well as outside the mall’s premises.  Nothing can be as discouraging for a customer as shopping in constant fear of being nabbed as they shop.  Keep in mind that the peace and order of the mall’s location determines its relative security.

No matter how you look at it, the mall’s location will always play a critical role in determining the success of your store.  Even if you’re selling good products, customers will always consider where your shop is located.  So now I posit the question: Which mall will it be?