PnutGallery Co. Posted August 20, 2011 Share Posted August 20, 2011 I recently scored a nice group of Beaver Tower machines and am interested in trying to secure a mall location. I am wondering what the typical arrangement might be for a mall? Rent or Comission? I am wanting to get out and talk to some managers and want to know what I should be negotiating for in my best interest.I would like to do toys only if this is possible. Link to comment Share on other sites More sharing options...
Enck's Vending Posted August 20, 2011 Share Posted August 20, 2011 I recently scored a nice group of Beaver Tower machines and am interested in trying to secure a mall location. I am wondering what the typical arrangement might be for a mall? Rent or Comission? I am wanting to get out and talk to some managers and want to know what I should be negotiating for in my best interest.I would like to do toys only if this is possible. malls are good locations but you have to have insurance and most malls want you to have a 2 million policy sounds like alot but its really not if you dont have ins already just call your local statefarm or other ins company and see how much ins will cost . Once you have done that then most malls are owned by a corporate but have individual ppl who take care of renting of spaces find out who that is and talk to them. Also when u talk to them they will tell you how much commission they will ask of you then u have to decide if you want to take it then sign a lease. My mall is a year to year lease. YOU have to work out the pay agreements with them. I have one 11rack in there a 7 rack and a 3with a 4 rack and sticker machines.Hope the info helped and i answered your questions. Good luck on your mall adventure Oh yes and toys are great since most malls have candy kiosks already toys is all i do at mine since there are candy and gum kiosks already there so the toy idea is the way to go however if there are no candy gum kiosks in a mall and u can get in the kids hit the gum kiosks like crazy also good luck Link to comment Share on other sites More sharing options...
lurtsman Posted August 20, 2011 Share Posted August 20, 2011 Around here they demand flat rent and a commission if you exceed the sales ceilings. They can be profitable, but you'll need to do your homework. You'll need insurance, you should talk to multiple agents and figure out which one understands your business. It's a rare policy, so some agents have no clue what you are doing and will ask irrelevant questions. Go for the person who understands how to do it if the prices are comparable. Also, some malls the people are completely oblivious to how any business operates and turns a profit. Other places they are understand precisely. It's really hit or miss. Don't get down on yourself if you can't explain it to one of them. Yeah, it's locating, if you can't get in it is always your fault--but sometimes the requirement for what it would take to convince them is just insane. Think of it is as shooting a basketball. Ultimately, it's on you. Sometimes it's lay ups and sometimes it's full court shots. Link to comment Share on other sites More sharing options...
PnutGallery Co. Posted August 20, 2011 Author Share Posted August 20, 2011 Thanks guys. I already have the 2 million liability policy so am set there. What is the average a mall might want to rent space and or average commission that would be required with them. Some of the malls I have scoped out are all set with gum/candy but no one has done the toy thing which is making me think there is potential. Link to comment Share on other sites More sharing options...
Enck's Vending Posted August 21, 2011 Share Posted August 21, 2011 Thanks guys. I already have the 2 million liability policy so am set there. What is the average a mall might want to rent space and or average commission that would be required with them. Some of the malls I have scoped out are all set with gum/candy but no one has done the toy thing which is making me think there is potential. well if they are like the mall that i am in i dont have anything electrical all self vending so if this is the same with the vending you do and nothing electrical make sure they no that because that makes a difference on the amount u are going to pay. You should be able to get in for under 40% but again thats between you and them but the mall ppl seem to understand that we are in this as a job to make money so unlike most stores they dont try to suck every penny from you . but again this is from the mall im in and im sure they are all not the same so give it a shot u have nothing to lose but everything to gain again good luck let us no how u make out . Link to comment Share on other sites More sharing options...
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