Tweaking the Innovation

For this post, I'll go into what we in the business call the "product/service mix." As you're all well aware already, my vision for Gainesville is a luxurious shopping mall that includes fine dining, designer-brand stores, and high-end bars/nightclubs. There will also be a high-end movie theater with stadium-style leather seating. The idea came to me after a conversation with a co-worker regarding limited date-night options for her and her husband. They're both in their early 20s, and I could not agree more. Malls today aren't necessarily just for shopping, as they also provide plenty of entertainment and leisure options, as well. As an entrepreneur, the product/service mix is a bit untraditional, as we're not necessarily selling something tangible, so our revenue streams are a bit different than your standard shops. Below is a list of potential revenue drivers for my concept and vision for a new mall in Gainesville.

Rent fees for tenants

• Store rental fees
• Kiosk rental fees
• "Break point" clause in all rental agreements -- if tenant's annual sales exceed a certain level, the mall is entitled to additional rent. 

Parking

• Parking garage -- fee on a per-hour basis
• Valet parking 
• Metered parking 
• Electric-car charging area, which requires payment for usage
• We'll also have a car-cleaning services in place where patrons can get their cars washed while they shop

Marketing/advertising 

• Sponsorships
• Posters
• Floor decals
• Free-standing scrollers
• Cars in the malls
• Promotional give-aways in mall

Weekend events

• Concerts in courtyard
• Brand-promotion events
• Art shows
• Holiday events 
• Children/family events
• Movie-watching in courtyard 
• Movie-premiere events

As a mall, our primary customers are our tenants, so our main goal is to keep them happy so there aren't any issues when it comes to renewing their leases. We can do this by ensuring that paying customers come to the mall on a regular basis, not just for their shopping, but for their primary source of entertainment and leisure.