Our traders are varied, some with a very colourful personalities. They know that friendly and efficient service is as important as the goods they sell. Their businesses sell everything from buttons to beauty products, clothes to clocks, sandwiches to saris, tables to technology and the latest fashions to the freshest food. We also have beauty and health professionals - a chiropodist, a hairdresser, a manicurist and a denture repair technician.
Some of our stallholders have learned their trade from their parents. Others are first generation entrepreneurs enjoying the challenge of running their own businesses. The common thread is that they love being their own boss and having very few business overheads.
We have made it very easy and straight-forward to become a trader at Romford Market Hall - much easier than trying to lease a high street shop.
Step 1 - Contact our markets manager Shaun Barker on 01708 740492 or
07814 863689
Step 2 - He will arrange to meet you and go through everything you need
to know
Step 3 - Using our many years of experience, he will also be able to advise you on how to make the most of being in one of our markets.
Step 4 - You take time to reflect and consider the opportunity
Step 5 -Confirm your interest and complete all the necessary documents
Step 6 - Agree a start date and complete your shop fit
Step 7 - Open for business
During your initial meeting, Shaun will explain how the market works and the benefits of trading with us. We do everything we can to remove excessive paperwork and leave you to run your own business as efficiently and profitably as possible.
When you're starting out, we ask for a deposit of 8 weeks' basic rent. We will normally give you one week rent free to give you time to fit out your unit and buy stock. Rents are collected weekly in cash or by direct debit, whichever you prefer. Don't fall behind or you'll soon be getting the balance of your deposit back.
Your weekly rent covers everything your business needs to trade in one of our market halls - from 24 hour security, repairs, rates through to buildings insurance (you insure your own stock).
Your business will inevitably take time to build up and the results may not be instant. We have our own marketing program in place and we will work with you on new business initiatives. You need time to establish a regular customer base and benefit from the repeat transactions. If you haven't got the patience and cash to give it a proper go, then don't try.
However if having started it cleary isn't working, all you have to do is give us one weeks notice and we will give you your deposit back. Simple as that!
As a comparison if you wanted to rent a high street shop, you will normally sign a 5 to 25 year lease and getting out of is not easy. You will be liable for the rent whether you are trading or not and if you can't find a sublessee acceptable to the landlord you could be in real trouble
This situation doesn’t benefit you or the market hall and is why we make things simple, easy and straightforward
During your meeting with Shaun, he will explain how we calculate the rent. Here's an example.
At Romford Shopping Hall, for an average unit with 10ft frontage you'll pay £123 a week in rent, plus approximately £40 per week for lighting . That's much better than taking a unit on the high st.
|
Market Hall Unit
|
Small Shop
|
| Rent |
6500
|
9500
|
| Rates |
-
|
3166
|
| Electricity |
1000
|
2000
|
| Lighting |
|
-
|
| Water rates |
-
|
450
|
| Maintenance |
|
550
|
| Shop cleaning |
|
260
|
| Window cleaning |
-
|
260
|
| Burglar alarm contract |
-
|
520
|
| Buildings insurance |
-
|
350
|
| Public liability insurance |
-
|
250
|
| Refuge disposal |
|
520
|
| Marketing activity |
|
1050
|
|
|
|
| Total for the year |
7500
|
18876
|
All this means that your start-up costs are nearly £10,000 less per annum than for a small shop in the High Street. Don't forget the benefits of less paperwork, joint marketing opportunities and a quick exit if the business doesn't work. It makes sense.
The success of a market depends upon the co-operation of everyone involved: you, your fellow traders and the market operator.
We expect you to open up on time, and keep to the agreed opening hours. Closed shutters give the wrong message to customers, and demoralise your fellow traders.
We expect you to display your goods in an attractive way, and provide clear and professional signage. This is clearly in your own interest, but also helps the market as a whole.
We expect you to present a cheerful, competent and helpful attitude to customers, even if they are not immediately interested in your offerings. The friendly attitude of our traders is one of our most valued traditions, and even one sour faced or rude trader can spoil it for everyone. Some traders have a natural ability to draw in customers and make them feel interested and comfortable - their businesses will thrive and we all value their contribution.
We would like you to be involved in promotional and advertising activities. If you come up with an idea, and are prepared to put some energy into making it happen, we will back you. We have found that promotions done jointly with traders are more effective in bringing people into the markets than ones done on our own.
