Strip malls are a great place to start a small business. They are easy to get into and they offer a variety of businesses. You can choose from retail stores, restaurants, bars, entertainment, etc. You can find strip malls in almost every city and town across America. If you live in a rural area, you may have to drive a little further to find one.
There are two types of strip malls: open air and enclosed. Open air strip malls are usually near busy roads with lots of traffic. These strip malls are often surrounded by parking lots. Enclosed strip malls are usually in suburban areas away from major highways. They are usually surrounded by residential neighborhoods.
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What Is The Most Synergistic Group Of Business Types That Will Make A Strip Mall Successful?
The most synergistic group of business types that will make a strip mall successful is the combination of retail stores and dining establishments. This type of synergy has been proven time after time. It’s also very profitable for both parties involved.
Retailers love having customers who want to eat while shopping because it means more sales. Diners like being able to sit down at their favorite restaurant when they need some downtime or just want to relax. Both retailers and diners benefit greatly from this kind of synergy.
What Is The Best Kind Of Business To Do In A Mall?
If you are going to do any sort of business in a mall, what would be your best bet? Would it be something related to food? Or maybe clothing? Maybe even electronics? There are so many kinds of businesses available in a mall.
However, if you’re looking for a good idea, I’d recommend doing something that’s not too expensive but still makes money. For example, selling jewelry might seem like an easy decision, but people buy little jewelry anymore. So unless you know how to market yourself well, you probably won’t see much success. If you sell high-quality products at reasonable prices, then you’ll definitely succeed.
Here are some of the best strip mall business ideas:
Following are some ideas regarding this business;
Pet Stores
People always enjoy spending time with animals. And since pets require constant care, pet owners tend to spend quite a bit on them. Therefore, owning a pet store could prove extremely lucrative.
Coffee Shops
Another popular choice among consumers is coffee shops. Since everyone needs caffeine to stay awake during the day, these places are guaranteed to keep busy all day long. Plus, they provide a nice atmosphere where people can hang out and chat.
Gift Shops
Who doesn’t like receiving gifts? Especially ones filled with delicious treats! Selling gift baskets full of goodies is another way to earn extra income as a retailer.
Clothing Boutiques
Many women prefer buying clothes online rather than visiting physical stores. But why pay $100+ dollars for only a few items when you can purchase everything you need for less than half price online?
Electronics Repair Services
With technology advancing rapidly, we rely heavily upon our electronic devices every single day. If anything goes wrong with one of those gadgets, chances are someone else wants to get rid of theirs. You can fix almost anyone’s broken device, which gives you plenty of opportunities to generate revenue.
Beauty Salon
Everyone loves getting pampered once in a while. Whether its nails done, hair styled, or makeup applied, beauty salons offer great services that leave clients feeling refreshed and beautiful.
Childcare Centers
Kids aren’t cheap, especially toddlers. That’s why parents often choose to hire childcare centers instead of raising children themselves. These facilities usually have experienced staff members ready to take care of kids’ needs.
Restaurants
This may sound obvious, but restaurants make up about 70% of retail space in malls. They also bring in tons of traffic, meaning lots of potential customers.
Convenience Store Business
Gas stations, convenience stores, drugstores, etc., all fall under this category. Basically, whatever service you can think of that requires minimal effort to operate, you can turn into a business idea by opening your own location.
Insurance Agents
We’ve already discussed insurance companies above, but agents work differently. Instead of offering coverage directly, they act more like brokers. An agent will search through numerous plans before finding the right one for their client.
Travel Agencies
Ever wanted to visit Paris or Rome? Or maybe even Hawaii?! All it takes is an internet connection and travel agency. The possibilities are endless!
Real Estate Brokers
Do you love real estate? Want to specialize in helping others invest in properties? Then becoming a broker would suit you very nicely. There’s a lot of competition in the industry however, so you must learn what works.
Tutors/Tutoring Businesses
Are there any subjects you find difficult? Maybe English isn’t your best subject after school? Well then tutoring could be just the thing you’re looking for. Why not use your skills to help students succeed at learning new things?
Dog Grooming Salon
Have you ever seen a dog grooming salon on TV? Chances are, if you haven’t heard of them yet, you soon will. Adopting dogs has become extremely common today, and many owners want professional-looking pets.
Massage Therapists
Did you recently experience back pain, headaches, insomnia, anxiety, stress, depression, etc.? Perhaps you suffered from these issues as well as other chronic diseases such as heart disease, diabetes, obesity, etc.. If so, consider setting up shop as a massage therapist.
Mobile Food Vendors
Nowadays, we enjoy having our meals brought straight to us while relaxing at home. Thanks to mobile food vendors, this trend became much easier. Simply order online or download an app to track orders being delivered. 18) Virtual Assistants – With the growth of technology, businesses now realize the importance of keeping employees productive during office hours.
Hair Salon
A hair stylist’s job is to create beautiful hairstyles using various tools and products. It’s both creative and artistic, making it ideal for those interested in starting a career in cosmetology.
Appliance Sales Business
Selling appliances includes selling all types of household items, ranging from microwaves to washers and dryers. This business idea requires little startup capital, giving you low risk potential.
Cosmetic Store Business
Starting a cosmetic store gives customers the ability to customize their own product range. You can take advantage of demand trends and invent new lines throughout different seasons.
Ice Cream Shop Business
Many ice cream shops have been known to start small by offering only one flavor of ice cream. However, over time they may expand into more flavors, toppings, sizes, etc. In addition, some ice cream stores sell frozen yogurt.
Coffee Shops
Whether you like coffee sweetened or unsweetened, black or flavored, make sure that you prepare yourself enough cups to keep your clients satisfied. Having a good relationship with each client allows you to gain referrals when needed.
Fruits Store Business
Growing fruits is another great way to provide healthy snacks for your clients. Not only does fresh fruit give off a healthier scent than packaged foods, but it also tastes better too! Fresh produce doesn’t need to cost a lot either. Start growing your own organic fruits and vegetables for next to nothing.
Breads Bakery
Making breads might seem easy, but preparing delicious loaves takes skill and practice. People often choose homemade because they believe it taste superior to anything else.
Frozen Foods Business
Preparing and freezing ready-to-eat dishes offers convenience for busy individuals. From pizza to pasta, there are endless options available. As long as you find a recipe that works best for you, you could be creating something unique within weeks.
Retail Pharmacy Business
Providing medication has become increasingly popular among people who want to stay fit and healthy. The retail pharmacy industry provides convenient access to quality health care services without breaking the bank.
Conclusion
As strip mall business seems very lucrative. One can open any sort of store, shop there to excel in their work and earn enough money. First, find your skills, look at the resources you have i.e. money, and create opportunity then exercise it. Working on any of the ideas mentioned before will bring beneficial results and you will not regret.