If you are thinking of establishing a mall, you must do a feasibility study of a commercial mall project, so you can be sure that the project is viable and that your available financial possibilities are enough to cover the costs of the project in full, and the team of the technology office can help you prepare a feasibility study of your mall, this office has long and extended experience in the field of feasibility study, so you can rely on the technology office in the implementation of a commercial mall feasibility study covering all aspects of your project to ensure its success on the ground.
Mall feasibility study
The idea of the mall project is to create a commercial center that provides a variety of services (shops, supermarkets, cinemas, children’s playgrounds, commercial offices, entertainment games, restaurants, and cafes). the project targets individuals, tourists, companies, and merchants, whether retail or wholesale. this type of project also aims to create new opportunities for investment that bring them good profitable returns, and also achieves a good financial return for the owner of the mall.
This project is characterized by providing distinguished services of cafes and restaurants and providing a range of games for children of different ages, the mall is characterized by large areas and there are many different sections, in addition to the presence of trained staff in all required areas, the mall also features a parking lot, all goods and services required in the mall are available.
Therefore, the mall project is characterized by increasing demand for the services of the center with an increase in the number of residents in the area where the mall is located, and this project will provide its services through the use of the best means with the highest possible quality, in order to provide all goods, supplies, and services in the mall.
Feasibility study mall project
Let us know, dear reader, in this paragraph the most important contents of the feasibility study of a commercial mall project and then talk to get to know them more clearly, and these contents include the following:
Study the idea, nature, and components of the project.
Study the services provided by the mall project in addition to studying the specifications, components, and features of those services.
Study the demographic and economic indicators of the project in the target market, in addition to studying the location of the mall.
Study the size of the target labor market.
Study the positions of competitors.
Develop a successful marketing plan in addition to setting a pricing line for the products and services available in the mall.
Study and determine the costs of the Mall of supplies, tools, operating requirements, and others, as well as marketing expenses for the project and salaries of employees and other costs.
After what we know together on the most prominent contents of the feasibility study of a commercial mall let us know the most important details concerning the establishment of this huge project, whether it will be implemented in a region or a city, we have mentioned earlier that it is preferable to establish a commercial mall project in areas where there are many people, where we find that there are many commercial malls that were created but were far from the population, and most of these malls did not achieve the desired success of their creation.
So don’t venture and set up your mall in a densely populated residential area or at least areas that you trust will be populated in short periods, such as universities, new cities, and other places that are being rebuilt.
Commercial mall feasibility study
You must do the following to be able to carry out a feasibility study of a successful mall project:
First, choose a suitable location for the mall project:
You can buy a ready-made mall in advance, meaning that there are many people who build large or even small malls but leave it for rent or sale, you can at this time take advantage of this opportunity to complete the purchase of that mall for sale.
Or you can buy a piece of land with a suitable area provided that it is in one of the residential areas where there is a large number of residents, then build the project from the ground up as it is said, and then you can establish it according to your own desire, and must be available at the site of the mall:
The mall should be located in one of the crowded places and preferably close to transportation.
It is necessary to establish a large group of shops inside the mall, so you must know the more the number of shops, the greater the percentage of your financial profit from the mall.
A sufficient number of restrooms must be established, as well as a special children’s area called Kidz area.
Second, the cost of establishing a commercial mall:
When you build a mall, you must have sufficient capital to buy a plot of land and then build it, in addition to covering the costs of construction and all the materials required for construction, you must calculate the costs of construction and finishing workers, and the costs of the necessary equipment for the mall in terms of design, lighting and other finishes, and you must calculate the wages of specialized engineers, whether civil engineer, electrician or decorator.
If you buy a ready-made mall, you will not need to waste more time and money, but also wait until the completion of construction, all you have to do is negotiate with the mall owner to get the best possible price for the mall.
Third labor required for the mall project:
The size of the labor in the mall project is determined by the activity that you will carry out inside the mall, in case you rent the shops in the mall you will not need workers for those shops, but you will need security personnel to guard the mall and secure it from inside and outside, this is next to the cleaners.
If you are going to set up business for your account within these stores, you will need people to manage these stores, each store must have at least two workers in order to be able to meet all the needs of customers.
How to market a mall project
After the completion of the construction of the mall or buy it and when you start to operate it and during the work of the last equipment of the mall, you must advertise and promote your project so that many people know, and there are several different ideas from which you can good marketing of the mall, and below we will give you the:
Make a big opening of the mall and then make a lot of discounts but make this announcement before it.
Print propaganda papers and distribute them in the main streets and areas with a large population.
Create a page in the name of the mall through various social media platforms and then publish all the services available within the mall.