PRESENTATION OUTLINE
Are Shopping Malls Dying? (Short Answer: No!)
Have you been considering opening a mall franchise, but find yourself deterred by rumors that shopping malls are a dying breed?
Don’t let the gossip fool you – shopping malls aren’t dying, and a mall franchise isn’t an ominous curse on your business’s future. In fact, research is showing that malls are on the rise, and many are expecting to see increases in business in the coming years.
Topics of Discussion
- Read the Cold, Hard Facts
- Why Do Malls Die?
- What This Means to Potential Franchisees
1. In order to qualify as “dead,” a mall needs 40% or more vacancy. But the fact of the matter is that only 3.6% of malls have met this criterion, meaning that 96.4% are alive and kicking! Furthermore, stats show that a mere 20% of malls are struggling at 10% vacancy, which leaves the other 80% as healthy and thriving. A study by CoStar shows that by the end of 2014, the average mall vacancy rate was 5.5%, which is well below the threshold for concern. In fact, this statistic is actually considered healthy by many economic experts.
2. While it is true that some malls are indeed dying (which is the natural process of an economy), it’s important to also look at why this is. When you look at the data, you’ll find that the main reasons that malls are dying are demographics and competition. In certain areas, populations have seen a decline. Naturally, less people means less business. In middle class areas, wages are struggling, which can also contribute to mall downfalls.
In addition to demographic struggles, many malls have been on the decline simply due to competition. Shoppers are abandoning old malls in favor of newer, better malls. This is a stark contrast to the theory that people don’t enjoy malls – it’s actually the opposite!
3. So for those who are hesitant to open a mall franchise, this information is a true game-changer. A mall franchise is not any less likely to succeed than any other business if it’s in a good location with booming business and a strong local economy.
Additionally, mall franchise owners are more likely to succeed when they buy into a strong, trusted brand. For this reason, Marble Slab Creamery is a great mall franchise opportunity for entrepreneurs looking for their next investment.
Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. Franchise offerings are made by Franchise Disclosure Document only.
