Betty French latest Broomhill retail victim

[Duckegg 10]

Well, they said it might happen.... Betty French, lovely independent jewellers in Broomhill cannot withstand the extortionate rental rates - as they themselves word it on the notice on the door. Another one bites the dust.

 

Wonder which charity shop will move in?

[ECCOnoob 1,020]

Well, they said it might happen.... Betty French, lovely independent jewellers in Broomhill cannot withstand the extortionate rental rates - as they themselves word it on the notice on the door. Another one bites the dust.

 

Wonder which charity shop will move in?

 

So they should get subsidised rather than market rate rent should they??

 

God sake its business. The Landlord has a business to run too. The reason for the so called "extortionate" rent will be because the area demands it.

 

Prices are only high when something is of value or in demand.

 

Maybe the store should have considered increasing their income, customer base, prices or lowering their own profit margin or (now here is a novelty) move somewhere cheaper if they cannot afford to stay where they were.

 

A shop in Knightsbridge charges more than a shop in Camden. Wonder why that is??

 

.......always someone else's fault.

[Duckegg 10]

Crikey! calm down, your not the landlord are you by any chance?

 

Dunno why people get so rattled on this forum

[Guest sibon]

I live in Broomhill.

I buy things from shops.

Sometimes I buy jewellery.

I've never been into Betty French.

Ecco has a point.

[ECCOnoob 1,020]

No I am not a landlord and im sorry if I am ranting but things like this really wind me up.

 

Any business fails these days and its always seems to be someone else's fault. Landlord and rent always seem to be part of the blame.

 

Woolworths collapse is a good example. Despite it being clear that its product offering was dire, retail style was dated, supermarket competition increased and biggest of all us consumers failing to buy anything more than pick and mix. Its initial statements put all the blame on their "extortionate" rent bill.

 

If I run a business and I am struggling to pay my rent what do I do? I think about how I can increase my income. I think about whether I really can afford to be in x location. I think about cutting down my other overheads. I think about whether my product/service is actually attracting enough custom. I think about narrowing down my profit until things improve.

 

To (what it appears) close down and stick a notice on the door effectively blaming the landlord and their "extortionate rent" is just a cop out.

Edited September 18, 2014 by ECCOnoob

[Duckegg 10]

Ecconoob, I'm not blaming anyone. I have no idea about running a business or the rates that are paid. I just think it's sad that from a buyers point of view, that there are only the big boys like Tesco, Costa etc.in the area apart from a couple of indie shops like the record place. I cannot say what the real reason is that Betty French failed - except that jewellery is not something purchased every week, though I understand that they have tried to offer jewellery repairs, small gifts etc. to keep afloat.

 

Sharrowvale Road and the surrounding area seem to fair better with small shops. Maybe it was too ambitious to take on Broomhill but it's not exactly Covent Garden is it? I hope they make a go of it somewhere else anyway. The "if they can't afford it, tough" attitude will lead to a very dull faceless retail area.

[geared 302]

Can't the shop just move a little way to cheaper premises??

 

Broomhill is fairly busy so the rents must reflect that.

 

---------- Post added 19-09-2014 at 13:16 ----------

 

I can't see any kind of website for them either.

 

How you can expect to run a successful retail business these days without a decent online presence is beyond me.

[charmer 10]

If the charity shop can afford to pay the rent then why not? They obviously have more people interested in what they sell than "Betty French".

 

I agree with ECCO, we always seem to blame the "evil big people". The business failed because it wasn't good enough. Imagine not having a website in this day and age.

[alchresearch 214]

I found this Facebook page:

 

https://www.facebook.com/bettyfrenchjewellers

 

Only 291 likes, very few regular updates, two in May then one from August 2013?

 

And it says the shop is only open 10.15 - 16.30. What's wrong with putting in a 9-5 like most shops?

[sgtkate 10]

If the charity shop can afford to pay the rent then why not? They obviously have more people interested in what they sell than "Betty French".

 

I agree with ECCO, we always seem to blame the "evil big people". The business failed because it wasn't good enough. Imagine not having a website in this day and age.

 

Charmer, charity shops get rent and tax rebates. That's why there seems to be a propensity of them in otherwise fairly expensive shopping areas.

 

"Charity shops benefit from tax concessions under UK tax law because all the profits from a charity shop go to fund the work of the charity, which provides public benefit. Charity shops, therefore, serve a "charitable purpose". Charity shops benefit from exemption from corporation tax on profits, a zero VAT rating on the sale of donated goods and 80% mandatory non-domestic rate relief, on property taxes. This 80% relief is funded by central Government. A further 20% rate relief is available at the discretion of local authorities. Other types of business are eligible for different sorts of relief from full business rates liability; these include small business rate relief, and relief for small shops in rural settlements. "

 

From: http://www.charityretail.org.uk/faqs_shop.html

[trackrunner 10]

Although Broomhill gets a lot of passing trade, and mainly students, it's only a few people that would buy this sort of stuff.

You need a busier place to make this pay especially with the market being flooded with jewellery.

[Guest sibon]

Although Broomhill gets a lot of passing trade, and mainly students, it's only a few people that would buy this sort of stuff.

You need a busier place to make this pay especially with the market being flooded with jewellery.

 

George seems to be doing ok.