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Q.
What is an ‘InShops’ Centre?
InShops have a nationwide network of 50 centres that operate
as indoor shopping centres and market halls. Centres provide local independent
retailers and multiples, prime quality, retail space at a minimum level
of capital investment.
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Q. How does an ‘InShops Selections’
Centre differ?
‘InShops Selections’ centres are our new concept centres that
have been specifically developed to provide an exciting and attractive
shopping environment with professionally designed, high quality shopfit
units, contemporary lighting, security and an onsite centre management
team.
We currently have 4 ‘InShops Selections’ centres open; Port
Talbot (Wales), Stratford (London), Kings Heath (Birmingham)
and Kirkby (Liverpool).
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Q. What are the terms
of trading at InShops?
There are 2 ways of trading at InShops:-
- Under a Lease agreement - This applies to some units in certain centres.
- Under a Licence agreement – This is the normal arrangement in most ‘InShops’ centres.
Terms of a Licence
Retailers wishing to operate in InShops centres are required to sign
a licence, the major conditions of which are summarised as follows:
- Designated licence fee is payable weekly in advance.
- A security deposit, usually equivalent to four weeks licence fee, is paid in advance at the commencement of the licence period. This is refundable on vacation of the premises (subject to deductions for any outstanding liabilities).
- The licence agreement continues after the expiry of the initial period, until either party gives the requisite notice. This is usually 12 weeks in the case of a 12 month licence.
- A user clause defining the range of goods permitted to be sold forms part of the agreement.
- Copies of our standard licence and conditions will be made available by our lettings team or Centre Manger. These should be read and understood prior to signing.
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Q.
Will I need Insurance?
It is each retailers responsibility to arrange his/her own insurance cover,
to include:
- Public liability
- Stock, fixtures and fittings for all risks
- Employer's liability
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Q. Who is responsible for
shopfitting?
InShops asks that all retail units are fitted-out to a quality and standard
that is in keeping with the environment created in all our ‘InShops’ centres. While this is the retailers responsibility,
we are happy to advise and if required source merchandising units, lighting
etc. that are suitable for your business.
In the case of food retailers, certain statutory regulations have to be
complied with. Given that it is not unusual for delivery lead times on
food or catering equipment to run from 6-8 weeks, it is essential that
these retailers finalise all arrangements as quickly as possible prior
to commencement of their licence
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Q. Will multiple retailers
be able to sell the same goods?
The company does not grant exclusivity of product to any retail trade
and encourages a reasonable level of competition in certain product categories.
However, common sense will be applied to ensure a healthy, complementary
and sustainable mix of retailers.
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Q. What are the normal hours
of trading?
Centres will normally trade six full days per week, 9.00am to 5.30pm.
Licences can only be issued to retailers who will open and operate the
unit throughout the designated opening hours. Actual opening hours at
each centre will be finalised following discussions with licensees and
will take into account any seasonal trading.
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Q. What is the average cost
of a unit?
The cost of a unit will vary between £150 - £1000 per week,
depending on a number of variables such as; location of centre, size of
unit, position of unit within the centre etc.
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Q. How often will the Licence
fee/rent increase?
InShops reviews licence fees and rents once every 12 month period.
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Q. Are there any additional
fees?
Energy costs are charged separately in accordance with usage, with heavy
users paying a higher rate.
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In certain cases, an in-going fee will be required for popular centres
(premium locations). This payment would normally be required at the time
of signing the licence.
Q. Can I sell my business?
Yes. You can always sell the goodwill of your business
to somebody else. This applies whether you are operating on a licence
or a lease.
However you cannot sell the premises within InShops from which the business operates. In the case of a Lease you can sell (assign) the remainder of the lease to somebody else. In the case of a licence, however, you can’t sell the remainder. The new person would have to sign a new licence with InShops.
InShops has to approve all lease assignments and all new licensees taking
over existing businesses (such approval will not be unreasonably withheld).
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Q. What do I get when I take a
unit in InShops?
A InShops provides the floor, walls, and ceiling
of the unit plus electricity supply. InShops also provides closure to
the unit, in most centres this is a heavy duty vinyl blind.
In addition InShops provides services to the centre as a whole including heating, lighting, cleaning, toilets, delivery facilities, building insurance, repairs and maintenance.
Selections centres benefit generally from the use of higher specification
materials including individual steel roller shutters, feature signage,
strong lighting and embedded merchandising tracks.
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