small business advice

Ask your landlord this!

So you have decided to relocate your business to a new premises or you are a new business owner looking to open a shop front in a prime location. Exciting times - no doubt! A million things are probably going through your mind, negotiating a new fit out, lease terms, contents insurance, the list seems never ending. 

So here's a thought - prior to signing any lease or contract, ask the landlord how they can help promote your business. If your new premises is in the same location as several other businesses and the property is owned by the same landlord (eg. a shopping centre), you could ask if they have a cooperative marketing fund that all businesses contribute to. If they do, be sure to ask how much is injected into the fund each month. 

If your landlord is smart, he / she should be willing to invest in marketing for your business. After all, the longer you stay in their premises, the more rent they will receive from you. They should want you to succeed.

So let's say your landlord is willing to invest in marketing. Where is it best spent? Who to contact to get the best deal? Well, here you have 2 options. You can employ a marketing agency (like ours!) or you can do all the research, negotiating, media buying and production coordination by yourself. There is a lot of effort involved in getting a successful marketing campaign off the ground. But if you have a background in marketing or are just willing to put in the time and effort, you can make it happen.

It is important to note that traditional media like radio broadcasters, television networks and newspapers are a lot more negotiable in price than they were several years ago and still provide effective advertising methods, particularly in the Darwin market. You can bolster your marketing efforts by contributing to your landlords funding, which will give your business further awareness.

So make sure you have the conversation with your landlord. Promotion of your new premises should be in your business plan and if it isn't - make some changes to include it!! If you would like to find out more about business plans and general business advice, the NT Government has a team for this. Contact your nearest small business champion here. Thanks for reading.