BUYING a Shopping Centre?! - Day In The Life of an Entrepreneur
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- เผยแพร่เมื่อ 20 ส.ค. 2024
- In this day in the life episode we take a look at a potential opportunity with a shopping centre...
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jamessinclair....
In this episode of our day in the life series I take a look inside a shopping centre, share some business growth tips at a local business event and also discuss marketing with Mat Wilson.
#business #dayinthelife #entrepreneur
Seen so many shopping centres in the auctions, the asset managers & agents are too used to just shoving a to let board sign up and getting 5/10 year upward only FRI leases from their chainstore contacts and now that game is over they don't know what to do.
The game has changed. Needs entrepreneurs on the ground to run these centres. You can just walk through some and spot all the missed revenue opportunities.
so true, up and down the country there are 100's of practically empty shopping centres with owners/management companies who have no idea what to do with them now that all the chain stores are slowing dying off or moving to out of town retail parks.
James, their used to be a company called “in-shops”. They too large spaces and divided them down to indoor markets, the mistake they made was allowing too many of their tenants to use the space as storage, a mix of the both would work well in bassledon mall. You need the indoor market to become a destination event, like wembly market or romford Sunday market. So, disguising it during the week and making it a weekend destination, then using it as an incubator to fill other space as some of the market traders/entrepreneurs grow, with you buying your own “shark” in the mix.
A shopping centre near me was full of small, local businesses, and sold at auction.
The new owner called us in to provide a service within the centre. We lasted 3 months. The new owner managed to annoy all the tenants (most leases had expired, and we're rolling monthly ones, previous owner was a charity trust thingy). He brought in new leases, upped the rents, and 80% left.
We left after 3 months due to non-payment of services. The centre is now sat virtually empty, Most agents in town won't deal with the owner any more, and refuse to list the empty shops. I walk through there now and then, and feel sorry for the remaining tenants, as there is now no footfall. The tenants left still have leases from the old owner, with time to run, but will leave as soon as the lease is up.
I know you would never do that, and the new owner is a total tool. I keep looking at the property auctions, expecting it to be listed again.
Keep an eye on it
Clearly the owner doesn't have that entrepreneur spark in him, unless he wants to get all the lease holders out so he can knockdown the entire shopping centre and build blocks of flats.
Where does he come from?
Buy the shopping centre. Put in an e sports cafe, a co working space, family/soft play and a proper on trend food court with bubble tea, smoothies and great healthy options (obvs allow some majors in there like mcdz etc) this place WILL (not can) generate 4+ million a year …
Love the content. Worked for myself selling online for the past 20+ years and completely agree about the shopping centre. I have the exact same thoughts about my local one which has so many boarded up shops. They NEED to be owned and run by business owners who see more than just the numbers. They lack business common sense and seem fairly easy to fix, I guess it comes down to greed a lot of the time!
Want someone to volunteer for you? I need to align myself with people doing good work online
I have a fair bit of experience
What item are you selling and how did you start out?
EMC was awesome! I was there early on the first day and the first guy I bump in to was Mat! He stopped, shook my hand and welcomed me - that's how to make a first impression. And James, both your stints on stage were fantastic, even without SB (in fact, let's be honest, the laughs as a result were worth it!!). Will be back next year!
This was such a great video, I love your mindset and your ambition. Never taking things at face value and looking deeper to find the real opportunity.
Thanks for wasting 13 mins of my life. Thought I'd be watching someone buy a shopping center, not an advert for a marketing conference.
Go big or go home! Brilliant channel as recommended by my husband! Kudos🎉
Love your videos
I'm an artist in scotland James and wanted to get a retail unit but landlords are just so closed-minded and uninterested in doing any kind of deal with small guy starting out, they cannot see the bigger picture! It's so maddening and terrible business
It goes a long way if you have a plan and existing customers to base figures off.
Its the council business rates that are a killer.
Why you want free rent or give the landlord a portion of what you “sell” lol?
What an exciting opportunity. I hope this goes ahead and love this inside view on your business lifestyle.
Love this content!
Gotta love James big thinking 👍👍
Buy it 💪🏻
Yet again amazing video we just need more lol
That's what I thought if a mileage struggling they lower the rent they get more people more customers and more businesses and make more money in the long term
Thanks,I found a cure for my insomnia 👍👍👍
I love your videos hope you’re well
Really inspiring that your looking and dealing with businesses that I have known all my life
Please tell me you're doing a video with Stephen... Or a podcast. 😊
Cool channel! Always been interested in business! And aspire to own one!
Simple james, all companies lease’s are free as long as all items are heavily discounted.
Then charge all customers £1 entry
Pleanty of discount outlets that do not charge entry. This wouldn’t work I’m afraid
So Costco? Lol….
Exactly, the formula does work. That’s why Charlie munger’s family holds shares in it.
@@Tunsgate123 😂 you watch to many TH-cam gurus my friend.
One of my customers bought two shopping centres recently..
Brave move if you try and buy it need a massive investment to get footfall through the door especially with Gen Z just buy commercial units with 5 year leases and less stress and put it into a SIPP. You need the brands in there and even thought 6k people came through the door what was average spend? Just look at a few local ones in Midlands Bull Ring, Merry Hill lost £ millions, now spending £ millions just to get occupancy up to prob try and sell. im struggling getting a new commercial unit as landlords and pensions to greedy and don't help small business and the Rates a killer, if debenhams can't do it then not many can, should of rented a level in there than spend £500k on function Room. Flyer drops always a winner direct marketing and most people cant even cold call.
Great content
Very risky the shopping centre at £30m
I think that’s a sign that physical shops haven’t a secure future
Do I need to dress like a snooker player
I don’t think it’s that important.
Most shopping centres are depressing by their very architecture and design, there's good reasons why most are failing
Did you but the centre?
People in the property World are complete Luddites. I’m sure you taking over a shopping centre would work well but you’d need to find like minded tenants and that could take time which you’d have to bank roll. Mind you, I know you already know that!
Would love to know what the surrounding demographic and footfall looks like. That’s the key in my view.
I was in Birmingham city Centre recently and although it has been revamped it was dead. There was no diversity there from an experience point of view. City Centre Leeds however is just booming. Why? Because there’s something there for everyone.
Amazing amazing video yet again and only getting better. Never stop James your too inspirational
One minute pulling 10 milli together, cause yano, its doable; next minute standing on stage like David Brent.
A day in the life of an entremanure
Yeah I don’t think the smart money is getting out of these places for no reason.
The future of retail is bleak and you’ll end up with a succession of small start up lifestyle businesses on short leases that will probably do a runner when it doesn’t work out.
Buy the shopping centre 10 million cash
Unless you are going to repurpose a shopping centre then you are probably going to fail. People still want a destination, and that used to be driven by consumerism, but online ecommerce was killing retail before the pandemic went and finished it off.
I still see some opportunities for retail shopping centres. Sure retail in some sectors is evaporating. But look at tech companies actually opening brick and mortar! Amazon are opening physical stores.
Lakeside is a shopping create we operate whilst it was laden with debt and offering stupidly high rents, still 23m people visit a year.
Centres will become hubs in the future IMO.
With car show rooms, office space, community services and experience based retail, the showrooms for the online world.
Offering 10 million for a shopping center that was 100 million and is on sale for 30 million isn’t cheeky. It’s just rude. This wasted the seller’s time just like I wasted mine watching this video.
that person that wanted to buy the mall from me, i’ll find out where he lives and pay someone to take a dump on their porch front door
Nothing is personal in business, it's a game of intelligence, not emotions. An offer can't be "rude"; but can be either accepted or rejected.
Not really rude at all. They are unlikely to sell for that price right now... But if conditions change or they urgently need cash and they know that they can get a deal done quickly with you there may be a deal to be had at some point in time.
It's the oldest trick in the book and flushes out the boys (you and I) from the men (James). Not rude as it's only business and isn't personal. They knew too well they wouldn't get that price.
Basildon is a shit ole , £10 million generous
If these guys are so successful why do they waste time making these videos? Doesn't make sense. Surely their time is worth more than this?
Because maybe they like doing it? Maybe they believe in branding? Maybe the videos help keep a large workforce informed on everything we’re up to? Maybe also the power personal brand gives businesses now is the most important currency of the new age - “ attention”
Why did Steve Jobbs do it?
Why did Walt Disney?
Why does Alan Sugar do the apprentice?
There’s a few ideas why I might do it.
@@JamesSinclairEntrepreneur touched a nerve there 😂
if you are gonna pretend you can afford commercial property, at least wear a suit instead of a gillet with a rucksack
Who says you have to wear a suit to buy commercial property?
I regularly see all my tenants dressed like this.
Why waste time putting in the effort doing business yourself when you can charge idiots a fortune to give them generic business lessons then use that fund to buy more businesses - perfect strategy only it’s being done across TH-cam relentlessly at the moment
There are plenty of people doing business for real, youre just seeing the TH-cam ones because......youre on TH-cam.
@@readmycomment3157 I’m referring to this plank on this channel
@@jeztickles4361 I don't get why, he has loads of businesses
@@readmycomment3157 so why bother selling ‘seminars’ and waste valuable time making videos on TH-cam to lure his prey into paying extortionate sums of money for generic crap business lessons which are no more than common sense
@@jeztickles4361 You don't have to go and see him speak, that is optional. Lots of successful people speak at events and are a thought leader in their industry. People appreciate it when someone with James's experience and background wants to share their knowledge and wisdom. I think youre on the wrong channel mate.
Hi James, great video ... Do you work with deal sourcers at all or do you source you own opportunities ? If you do, can I pop you an email ?
People sent me stuff all the time. I’m always proactive in looking at opportunities. You can send me stuff on LinkedIn or Instagram @jamessinclairentreprenuer
boiler room BS