Pay Attention to this List When Negotiating Your Mall Kiosk Lease 

For a budding entrepreneur, getting the keys to a mall kiosk lease can be better than getting the keys to a new car. After all, when your kiosk takes off, you’ll be able to buy a new car. But if you negotiate a less-than-great lease, your business could suffer. So let’s take a closer look at what you need to keep in mind as you negotiate your mall kiosk lease.

Here are 13 keys to a mall kiosk lease.

1. Will your kiosk be a seasonal placement, or permanent?
   You should be able to get either a monthly or annual lease, depending on the mall, their availability and your goals. Temporary leases during high seasons such as Christmas will cost more.
2. Make sure your lease is renewable.
   But when it comes time to renew, review it closely to see if you want to make changes rather than just blindly signing on for another year. Is there a cap on how much rent can increase from year to year?
3. Will you have to pay a percentage of sales in addition to your rent?

    

4. If mall sales decline, can you get out of your lease?

    

5. Can you choose your location within the mall?
   It’s best to be near businesses with high foot-traffic, particularly shoppers similar to your own prospects.
6. Can you custom-design your kiosk, or will the mall design one for you?
   What is the extra cost for that? You want your space to be as unique as possible, to attract maximum attention.
7. Will you get product exclusivity within the mall, or at least your section if the mall is very large?
8. Is there storage space available?
   Does it cost extra?
9. What are the mall’s marketing plans?
   Is there an additional assessment for that? What promotional activities will incur other costs for you – coupons, additional sales hours, etc.?
10. What is the additional assessment for common area maintenance? Does the mall have major renovation or repair plans for which you’ll have to help pay?
11. What are the mall’s requirements regarding product approval, merchandising, lighting, staffing and hours of operation?
    If you want to alter your product line, how limited will you be?
12. What kind of security does the mall provide, both facility-wide and for your kiosk?
    Some malls have covers for carts and kiosks as well as personal on duty after hours.
13. Is sampling allowed?
    This could pertain whether you sell perfume, hand lotion, music or snacks.

Along with understanding the logistics of your lease, make sure you also understand other kiosk success basics.

Leave nothing to chance.

Don’t assume conditions will be in your favor just because they aren’t covered in your lease. Be sure you understand clearly what is included and what is not. You may not have much negotiating leverage if you’re a brand new entrepreneur, but using these keys to a mall kiosk lease will get you off to the most profitable start.

Palmer Retail Solutions strives to offer our clients the absolute best combination of innovation, quality, service, and value for our diversified custom store fixtures and merchandising displays. For more information about our designs, retail fixtures, cash wraps, kiosks, or point of purchase displays, visit our website at: http://www.palmerretailsolutions.com.