Ideas for my 550sq ft shop / commercial unit?

[fizz47]

Have been leasing out a 566sq ft commercial unit (class e) since 2001 to the same leaseee.

The current leasee is giving up the premises so had a few offers via the commercial agent. Clearly giving it back to the agent is the easy life but my parents ( retired but very active ) are sat around twiddling their thumbs and got me thinking is if I should set up something in the shop instead myself that they could run.

The shop itself is in parade of 4 in a middle class residential area and has suitable parking etc. It’s close enough to main route that would warrant people to specifically visit.

Looking for suggestions on potential ideas …( except giving it out to lease again). This is more of a pocket money project rather thank looking to take over the world.

[Stuart70]

Do they want to run a business for you?

[s p a c e m a n]

1. Do they want to do it?

2. What are their interests/hobbies?

3. Profit.

[IJWS15]

Would your parents really want to give up their current lifestyle to go into running a small shop….

One thing I wouldn’t want to do - dealing with the general public face to face every day!

[fizz47]

Parents definitely up for doing it as they are bored and this will keep them busy..

In fact there are two other friends who have asked that they are willing to run something there as a 50 /50 partenership..

They have come with the usual ideas .. bakery , coffee shop etc..

[thebraketester]

What does the area lack?

[Ham_and_Jam]

fizz47 said:

Parents definitely up for doing it as they are bored and this will keep them busy..

In fact there are two other friends who have asked that they are willing to run something there as a 50 /50 partenership..

They have come with the usual ideas .. bakery , coffee shop etc..

I’ve owned a retail bakery for the last 18 years. It can be a successful business, and we have come through every hurdle that could possibly thrown at us (recessions, pandemic, energy crisis, COL etc). It is however a very hard business to be in.

It is physically tiring. Not only being on your feet all day, but early starts, fetching and carrying. Loading ovens. Cleaning at the end of the day etc.

We have seen many similar nearby businesses come and go over the years. They see us and think, we could do that, it’s easy. Unfortunately, they usually last 2-3 years and either go bust or give it up as it’s too hard physically and the demands on their family life are too much. Even having a holiday requires intense planning and adequate skilled cover.

I would say you need to have a passion for the business, or some previous experience in it to make it successful. It is not a part time hobby type business. You need to be full on, passionate and always driving it forward. Is that the type of lifestyle they want?

Edited by Ham_and_Jam on Sunday 11th June 09:53

[Muzzer79]

How old are your parents?

They may be active now, but age creeps up on you fast.

Could be a not-insignificant investment for only a couple of years before they say they can’t handle it.

[gotoPzero]

50m2, not small not massive, good parking major +ve.

How about a pop up shop (for other businesses)?

Your parents could be around on the first day to hand over key and give them any info etc and then later when they are done they can go back and inspect etc and collect keys. Then arrange cleaning and what not for next people.

Would be less time and hassle for parents and a lot more hands off but still giving them something to do?

Refurb costs would be low, just an empty space, plenty of power, water and toilet etc. Empty windows. Good wifi.

You could even offer tables and chairs etc for rent (assuming space to store etc). Offer 1 to 30 days or something like that.

NB I have no idea if this would work just came to mind!!

[Pot Bellied Fool]

I like the pop up shop idea, gives them an interest without having to be there for long hours on the till.

How about a drop in workspace, rent-a-desk by the hour/morning/day type place. Just pop in wifi and some nice chairs/desks/sofa and some coffee machines & snacks. I liked the Ziferblat model and I think it worked well for them for a while. Closed now after a tussle over the space with the landlord. https://www.liverpoolecho.co.uk/news/business/pay-...

How about a drop in craft makerspace with some equipment that can be used? (With suitable induction!) www.doesliverpool.com has everything from 3D printers to laser cutters, electronic test bench, sewing machines, sublimation kit, CNC etc... If there's nothing like that in your area then it could do well.

[Truckosaurus]

Craft beer bar or micropub seems the ideal hobby business for a shop in a nice area.

Stick in a decent coffee machine for the daytime trade.

[Upinflames]

Vapes surely!

[His Lordship]

I looked at cafe / coffee in the past - VERY high turnover needed to make any sort of sense, if youre only getting say 100 people in a day and £3-5 profit from each after costs - I quickly dumped that idea.

Maybe they should be the ones coming up with ideas?

[JimmyConwayNW]

would it work into a beauticians type place? Set up as a salon but a few girls could rent a room ie an eyebrow lady / lash / nail / aestethics etc

They could oversee but 'rent a chair' etc.

Alternatively thai massage place....

[fizz47]

Some interesting suggestions and thanks for everyone’s input.

The idea that’s top of my list is but don’t think I have the time to make it viable in a short space of time is to turn it into a dental practice - nothing else nearby and there is a genuine demand for it.

The only small issue is that I’m not a dentist… my niece is currently studying to be a dentist and once she’s qualified i could easily go into a partnership wit her but that’s a few years off..

I think because I left this too late I will just have to give it for a 5 year lease …

[uber]

You should really consider ear wax removal, great margin, has huge demand and is pretty easy with the correct training/equipment. I have an older lady semi-retired doing 2k a week

If you need advice hit me up

[Ryyy]

Dog groomers, missus was one and worked at the one near us in our little "village", was always double busy and was big news.

It's handy having a decent flower shop a bit further down.

And another busy one is the new barbers.

Any of them?

[sinbaddio]

Barbers shop. Kit it out with 3 chairs, rent all 3 out, should make £2k+ a month per chair.

Parents can take it turn managing the till, bookings, sweeping up etc.

[48k]

fizz47 said:

Some interesting suggestions and thanks for everyone’s input.

The idea that’s top of my list is but don’t think I have the time to make it viable in a short space of time is to turn it into a dental practice - nothing else nearby and there is a genuine demand for it.

The only small issue is that I’m not a dentist… my niece is currently studying to be a dentist and once she’s qualified i could easily go into a partnership wit her but that’s a few years off..

I think because I left this too late I will just have to give it for a 5 year lease …

I'd have thought a dental practice would require a huge amount of capital up front to fit-out and kit-out the unit. Might take years before you break even let alone see any profit.