Marketing Plan for UE Students
We asked the professor some question about our project and this is the some questions:
We have some questions considering this project. We want to put a hair and nail shop in the complex, is this suitable? Does it need to be a national chain or should we base it off local shops that we know of?
How detailed should this report be?
Below is what the professor said so we have to research data based on what he said, I think a nail shop would be fine or a hunting store?
I have not analyzed the data. Jeff and Jim have. Have you contacted them? They will decide which tenant(s) are most suitable based on long-term profitability, payback period, and synergy with the other
tenants. We are looking for critical thinking. I.e., Based on the data, we made this choice because their are X number of people in X target market within our X mile trading area that spend X dollars on hair
and nails, and is underserved because we have X competitive advantage and/or too few competitors in the trading area, and we can generate X number of sales and X number of profits in X time frame, etc.
As far as details, I would be prepared to prove that you can be a profitable tenant in the long-term (e.g., Revenues and Expenses) and have data to support your reasoning for adding synergy to the strip mall
Marketing Plan for UE Students
Project goal is to lease vacant space within Park Terrace Shopping Center and creating the most value and the best use for the shopping center. The student has to identify realistic tenants that would be good
for the shopping center as well as the town. In addition to leasing, there may be other opportunities to create value for the shopping center. Leasing proposal to include tenant (with reason why tenant was
chosen), square feet, location tenant is going in, layout of where tenant is going (can use survey or marketing sheet to draw layout), construction cost, and annual rent income.
Constraints:
1. The tenant should be a tenant that locates in small towns
2. Space sizes
a) Small – 0 – 4,999 sq. ft.
b) Medium – 5,000 – 10,000 sq. ft.
c) Large – > 10,000 sq. ft.
3. Rental rates
a) Rental for small spaces is $12/sq. ft.
b) Rental for medium spaces is $8/sq. ft.
c) Rental for large or anchor spaces is $5/sq. ft.
d) The width to length ratio is no greater than 1:4 (i.e. 20’ width is the minimum for 80’ depth)
4. Construction cost
a) Small space is $50/sq. ft.
b) Medium space is $40/sq. ft.
c) Large or anchor space is $30/sq. ft.
Information provided:
1. Alta survey
2. Renderings of the shopping center
3. Websites
4. Lease abstracts
5. Demographics
6. Louisiana tenant list
Useful Websites
www.regency-prop.com
www.icsc.org
https://www.city-data.com/city/De-Ridder-Louisiana.html
www.cityofderidder.org
I want of you to write one page as a description for the project. also, I will upload some files that you need to look at them.
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