Foxtons on Lordship Lane soon to become a Poundland Local

[ken78]

Agreed.

It's been going on ad nauseam for years.

She once announced she was leaving and never coming back.

But no. She saw an opportunity to have another go at the people living in this area who she appears to hate so much.

 

Oh I do have to laugh. The usual suspects goading left right and centre, then choosing to play the ‘shut down’ Louisa’ card when the argument goes against them. The above quoted forum members are a good summary of what is wrong with society today. ‘We don’t agree with you so we will shut your opinions down to make ourselves feel good’. Yawn. I barely use the forum, I really don’t give a toss if I’m “relegated to the lounge”. Bring it on! Haha. Losers.

Louisa.

 

Nah. We're just all bored of your boring twuntiness. And your dishonesty about being eallowed back in if you behaved. Despite your protestations to the contrary; a class warrior you ain't.

 

Sounds like you feel threatened by Louisa and I don't know why she's only saying how she thinks it is

[Earl Aelfheah]

Re. Farmers - I just said that I hoped they wouldn't lose business to Poundland. You may be right about the latter competing more with the other chains.

[ken78]

Re. Farmers - I just said that I hoped they wouldn't lose business to Poundland. You may be right about the latter competing more with the other chains.

 

Do you not think that some shops on the lane have to make so much just to pay the rent, I think that's why we have so many food outlets as the profit is very high and the rent is no problem so when you see a shop like Farmers it makes you think about the mark up they have

[Penguin68]

the rent is no problem so when you see a shop like Farmers it makes you think about the mark up they have

You are making the assumption (unless you know) that Farmer's is a tenant or leaseholder. As they have been in place for so long it is not impossible that they own the property. In which case their big fixed overhead will be just business rates rather than rates and rent. They will still need to price so as to cover fixed and variable costs together with an 'allowance' for profits. Even if they are a leaseholder the terms and length of their lease may be such that 'current' levels of leaseholder costs are not relevant to their particular cost model.

[Dogkennelhillbilly]

we have so many food outlets as the profit is very high and the rent is no problem

Hah!

[ken78]

the rent is no problem so when you see a shop like Farmers it makes you think about the mark up they have

You are making the assumption (unless you know) that Farmer's is a tenant or leaseholder. As they have been in place for so long it is not impossible that they own the property. In which case their big fixed overhead will be just business8 rates

rather than rates and rent. They will still need to price so as to cover fixed and variable costs together with an 'allowance' for profits. Even if they are a leaseholder the terms and length of their lease may be such that 'current' levels of leaseholder costs are not relevant to their particular cost model.

 

Just business rates and utility bills is that all , how many business have gone bang over that come on look at every ones bills don't take a lot to work out

[Jules-and-Boo]

I thought Dulwich Estates were notorious for increasing rents? Is that not why we lost the lovely Brickhouse and got the chain Gail's?

[Penguin68]

I thought Dulwich Estates were notorious for increasing rents? Is that not why we lost the lovely Brickhouse and got the chain Gail's?

The point I was trying to make is that, unless others know for certain, it may well be that Farmer's either owns their shop, or has it on a long and favourable lease.

Business rentals are expensive, and not in the main getting cheaper, but it would be wrong to assume that all business properties are rented (or leased). Where they are not, then as a business on-cost the cost of ownership is different - there is still a cost of capital but it is made up of costs of upkeep (that would normally be the owner's responsibility) and the opportunity cost of not realising the capital value of the property. That opportunity cost is why firms sometimes operate sale and lease back options.

Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates.

Business rates will still be an issue, as will increasing costs of e.g. power - although Farmer's (unlike say a restaurant with cooking, heating and refrigeration costs) will have more limited power costs - mainly lighting, with limited (I'm guessing) expenditure on heating.

Cost models for shops such as Farmer's are very different from restaurants (and, in response to an earlier post, although the 'mark-up' of charges for food is very much higher than for the food's raw ingredients in restaurants the costs of producing prepared food, including storage and so on is significant over and above the raw ingredient cost). Where Farmer's costs are probably significant is in the cost of storing (shelving costs) their very wide range of products - which is also their USP. Some items will hang about in the shop for some time before their price is realised. Skill in stocking and ordering will be a key quality here, especially as, I'm guessing, unlike Poundland they won't have access to sophisticated EPOS systems and ordering algorithms to help them.

[ken78]

I thought Dulwich Estates were notorious for increasing rents? Is that not why we lost the lovely Brickhouse and got the chain Gail's?

The point I was trying to make is that, unless others know for certain, it may well be that Farmer's either owns their shop, or has it on a long and favourable lease.

Business rentals are expensive, and not in the main getting cheaper, but it would be wrong to assume that all business properties are rented (or leased). Where they are not, then as a business on-cost the cost of ownership is different - there is still a cost of capital but it is made up of costs of upkeep (that would normally be the owner's responsibility) and the opportunity cost of not realising the capital value of the property. That opportunity cost is why firms sometimes operate sale and lease back options.

Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates.

Business rates will still be an issue, as will increasing costs of e.g. power - although Farmer's (unlike say a restaurant with cooking, heating and refrigeration costs) will have more limited power costs - mainly lighting, with limited (I'm guessing) expenditure on heating.

Cost models for shops such as Farmer's are very different from restaurants (and, in response to an earlier post, although the 'mark-up' of charges for food is very much higher than for the food's raw ingredients in restaurants the costs of producing prepared food, including storage and so on is significant over and above the raw ingredient cost). Where Farmer's costs are probably significant is in the cost of storing (shelving costs) their very wide range of products - which is also their USP. Some items will hang about in the shop for some time before their price is realised. Skill in stocking and ordering will be a key quality here, especially as, I'm guessing, unlike Poundland they won't have access to sophisticated EPOS systems and ordering algorithms to help them.

 

As I have worked in a lot of different retail some like Farmers price the goods at double + vat . Pet shops are a bit more and food can be up to 70% mark up just look at a fry up at £7 ...and price up the ingredients and you will see, a good cafe like the dulwich one has been going for years ans still will . You only have to.see the shops that are still trading ,ie william rose butchers working on about 75% mark up

[Lebanums]

I thought Dulwich Estates were notorious for increasing rents? Is that not why we lost the lovely Brickhouse and got the chain Gail's?

The point I was trying to make is that, unless others know for certain, it may well be that Farmer's either owns their shop, or has it on a long and favourable lease.

Business rentals are expensive, and not in the main getting cheaper, but it would be wrong to assume that all business properties are rented (or leased). Where they are not, then as a business on-cost the cost of ownership is different - there is still a cost of capital but it is made up of costs of upkeep (that would normally be the owner's responsibility) and the opportunity cost of not realising the capital value of the property. That opportunity cost is why firms sometimes operate sale and lease back options.

Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates.

Business rates will still be an issue, as will increasing costs of e.g. power - although Farmer's (unlike say a restaurant with cooking, heating and refrigeration costs) will have more limited power costs - mainly lighting, with limited (I'm guessing) expenditure on heating.

Cost models for shops such as Farmer's are very different from restaurants (and, in response to an earlier post, although the 'mark-up' of charges for food is very much higher than for the food's raw ingredients in restaurants the costs of producing prepared food, including storage and so on is significant over and above the raw ingredient cost). Where Farmer's costs are probably significant is in the cost of storing (shelving costs) their very wide range of products - which is also their USP. Some items will hang about in the shop for some time before their price is realised. Skill in stocking and ordering will be a key quality here, especially as, I'm guessing, unlike Poundland they won't have access to sophisticated EPOS systems and ordering algorithms to help them.

 

Some of the properties are owned by the family that owns SMBS.

[ken78]

I thought Dulwich Estates were notorious for increasing rents? Is that not why we lost the lovely Brickhouse and got the chain Gail's?

The point I was trying to make is that, unless others know for certain, it may well be that Farmer's either owns their shop, or has it on a long and favourable lease.

Business rentals are expensive, and not in the main getting cheaper, but it would be wrong to assume that all business properties are rented (or leased). Where they are not, then as a business on-cost the cost of ownership is different - there is still a cost of capital but it is made up of costs of upkeep (that would normally be the owner's responsibility) and the opportunity cost of not realising the capital value of the property. That opportunity cost is why firms sometimes operate sale and lease back options.

Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates.

Business rates will still be an issue, as will increasing costs of e.g. power - although Farmer's (unlike say a restaurant with cooking, heating and refrigeration costs) will have more limited power costs - mainly lighting, with limited (I'm guessing) expenditure on heating.

Cost models for shops such as Farmer's are very different from restaurants (and, in response to an earlier post, although the 'mark-up' of charges for food is very much higher than for the food's raw ingredients in restaurants the costs of producing prepared food, including storage and so on is significant over and above the raw ingredient cost). Where Farmer's costs are probably significant is in the cost of storing (shelving costs) their very wide range of products - which is also their USP. Some items will hang about in the shop for some time before their price is realised. Skill in stocking and ordering will be a key quality here, especially as, I'm guessing, unlike Poundland they won't have access to sophisticated EPOS systems and ordering algorithms to help them.

 

Some of the properties are owned by the family that owns SMBS.

Looks like your just trying to justify some think ,I don't know what ?

[Lebanums]

The point I was trying to make is that, unless others know for certain, it may well be that Farmer's either owns their shop, or has it on a long and favourable lease.

Business rentals are expensive, and not in the main getting cheaper, but it would be wrong to assume that all business properties are rented (or leased). Where they are not, then as a business on-cost the cost of ownership is different - there is still a cost of capital but it is made up of costs of upkeep (that would normally be the owner's responsibility) and the opportunity cost of not realising the capital value of the property. That opportunity cost is why firms sometimes operate sale and lease back options.

Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates.

Business rates will still be an issue, as will increasing costs of e.g. power - although Farmer's (unlike say a restaurant with cooking, heating and refrigeration costs) will have more limited power costs - mainly lighting, with limited (I'm guessing) expenditure on heating.

Cost models for shops such as Farmer's are very different from restaurants (and, in response to an earlier post, although the 'mark-up' of charges for food is very much higher than for the food's raw ingredients in restaurants the costs of producing prepared food, including storage and so on is significant over and above the raw ingredient cost). Where Farmer's costs are probably significant is in the cost of storing (shelving costs) their very wide range of products - which is also their USP. Some items will hang about in the shop for some time before their price is realised. Skill in stocking and ordering will be a key quality here, especially as, I'm guessing, unlike Poundland they won't have access to sophisticated EPOS systems and ordering algorithms to help them.

 

Some of the properties are owned by the family that owns SMBS.

Looks like your just trying to justify some think ,I don't know what ?

 

Nothing at all, they are as guilty as the rest for pushing up rent. The reason Platform 1 and others before them disappeared

[ken78]

Some of the properties are owned by the family that owns SMBS.

Looks like your just trying to justify some think ,I don't know what ?

 

Nothing at all, they are as guilty as the rest for pushing up rent. The reason Platform 1 and others before them disappeared

And your point ,this is about the pound shop and as some say it will kill off other shops like Farmers so your point is ??

[Dogkennelhillbilly]

food can be up to 70% mark up just look at a fry up at £7 ...and price up the ingredients and you will see, a good cafe like the dulwich one has been going for years ans still will .

I think you should start a cafe, ken78, it's obviously complete moneyspinner and a piece of piss to do.

https://smallbiztrends.com/wp-content/uploads/2013/03/businesses1.png

https://www.theguardian.com/business/2022/jul/25/uk-restaurant-insolvencies-closures-rise-data

https://www.newyorker.com/news/dispatch/the-extreme-economic-pain-of-running-a-restaurant-in-the-uk

[Penguin68]

food can be up to 70% mark up just look at a fry up at £7

 

It is wholly naïve to assume that the cost of preparing a meal is (just) the cost of the raw ingredients. The cooking consumes fuel (and the cooker and cookware, refrigerators etc. etc. have to be bought) - the cook has wages and NI, as do the servers - the land and buildings have associated costs - it is very normal for a restaurant raw ingredients to form only a small portion of the costs of preparing and delivering the food. There are, it is true, both fixed and variable costs - and most of the variable costs of preparing are the ingredients - the others being overheads and costs like wages. In general net profit (once direct costs and overheads have been allocated) will run between 5% and 15% - any less and the business will go bust, much more and competitors will move in to steal the business as they will be able to under-cut prices. Antique businesses price at 100% 'mark-up' of the cost of the item to them (in general) - but 'price' here is a negotiating start-point - and mostly they have to pay (in terms of opportunity cost, which is a real cost) for items which do not sell quickly, as their capital will be tied-up in these, and earning nothing until a sale is made.

The economics of running businesses (including retail businesses) is far from simple.

Amended to add that businesses open all day (e.g. cafes and shops) are also 'paying' for the times they are empty and not trading - when empty they are no just not making money, but effectively (heat, light, wages, rent, rates etc.) losing money.

[Lebanums]

Looks like your just trying to justify some think ,I don't know what ?

 

Nothing at all, they are as guilty as the rest for pushing up rent. The reason Platform 1 and others before them disappeared

And your point ,this is about the pound shop and as some say it will kill off other shops like Farmers so your point is ??

 

Jeez, you're about as blunt as a pencil with no lead! Part of the conversation was around ownership "Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates." Just pointing out the correctness.

[ken78]

Nothing at all, they are as guilty as the rest for pushing up rent. The reason Platform 1 and others before them disappeared

And your point ,this is about the pound shop and as some say it will kill off other shops like Farmers so your point is ??

 

Jeez, you're about as blunt as a pencil with no lead! Part of the conversation was around ownership "Oh, and not all properties in SE22 are owned (or ever were owned) by Dulwich Estates." Just pointing out the correctness.

 

correctness.. the post WAS about the pound shop opening read the first post then say Jeez...

[geh]

Apologies for my pedantry but in the same way Dulwich Hamlet is singular, it’s The Dulwich Estate, just the one.

Sorry again.

[malumbu]

Perhaps Admin could step in and freeze this tedious thread. It's well past it's best, it's passed on! This thread is no more! It has ceased to be! It's expired and gone to meet 'is maker! 'It's s a stiff! Bereft of life, It rests in peace! If you hadn't nailed it to the site it'd be pushing up the daisies! 'It's metabolic processes are now 'istory! It's off the twig! 'It's kicked the bucket, It's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-THREAD!!

Free speech eh?

[ken78]

Perhaps Admin could step in and freeze this tedious thread. It's well past it's best, it's passed on! This thread is no more! It has ceased to be! It's expired and gone to meet 'is maker! 'It's s a stiff! Bereft of life, It rests in peace! If you hadn't nailed it to the site it'd be pushing up the daisies! 'It's metabolic processes are now 'istory! It's off the twig! 'It's kicked the bucket, It's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-THREAD!!

Free speech eh?

 

Free speech eh? ok i understand

[ken78]

Well who has been to the pound shop , and what did you think of it ? Any of you now converted ? ...and what did you buy ?. 🤑

[Sue]

1 hour ago, ken78 said:

Well who has been to the pound shop , and what did you think of it ? Any of you now converted ? ...and what did you buy ?. 🤑

Bit disappointed. I bought a pack of mealworms for the birds for £1, which was good value.

I was hoping for some more interesting non (human)  food  things. I bought some nice multicoloured  rag rugs once in one of the Peckham pound shops.

And I needed some of those round flat  batteries, but they were only selling them in mixed packs of different types.

I might go in occasionally for a wander to see if there is anything of interest (to me), but I wouldn't go there to shop on a regular basis.

Also, every time I pass, the shelves facing the windows seem half empty, which seems odd for a shop which has only just opened, unless they have sold more of some things than they expected.

[ken78]

Well it's if empty then they are selling a lot 

[Kathleen Olander]

I like it.  I got some sugar free Werthers originals, 60p cheaper than elsewhere.  A pack of nice quality pocket tissues, 

Sealable Freezer bags,  Pack of 6 creme caramels.  I still use the other shops too!

[ken78]

20 hours ago, Kathleen Olander said:

I like it.  I got some sugar free Werthers originals, 60p cheaper than elsewhere.  A pack of nice quality pocket tissues, 

Sealable Freezer bags,  Pack of 6 creme caramels.  I still use the other shops too!

good for you