It goes without saying, that a number of reputable brands have since exited the Village Mall Premises in Bugolobi. And while judgmental daggers were drawn to try and paint the brands that exited as bankrupt, the truth might be that, the Village Mall establishment is not really favorable for business.
According to sources, the major brands that have left the place have all done so because of common reasons that revolve around the management.
The Brands that have vacated.
According to sources inside Village Mall Bugolobi, popular brands have failed to keep their business afloat at the establishment.
“Planet Yoghurt was among the first to leave. There was a smaller establishment that though doing well, couldn’t keep up with the rent and expenses. Pizza Hut also left 3 weeks back. Java House left 3 months back, while Liquid Silk left a week ago. All of these businesses are not bankrupt. They are merely branches and chains of bigger and moneyed franchises. The fact that they are leaving means there is something awfully wrong with the business model,” explained a source who owns a shop a shop at the premises.
Rumors coming in have it that La Ville Wines and Spirits are also in plans of exiting.
Reliable sources have since revealed that Village Mall Bugolobi charges expensively when it comes to rent.
“All the brands that have been there work so hard to bring in, retain, and share the traffic that comes to the premises. And it is true, the businesses are always doing well. They have the clients. Because Village Mall has many businesses and it’s easy for the traffic to overflow in other business, among other factors like great advertisement from individual businesses. But it is hard to even break even because of the rent. It makes operating a business at Village Mall a cut throat venture. People hang on for a while, hoping things get better, but of course they get frustrated by the management, who have no consideration of the nature of the different businesses operating there. Many are leaving. Give me 4 months, I am also leaving this place,” explained our source, a tenant there.
Rumor has it that the place is between 35-50 dollars per square meter.
When we asked a number of Village Mall regulars about the reason why business is low, they said it is the parking fees.
“The parking fees make it hard for the client traffic to match business targets. People don’t want to pay parking when they come to a place. It discourages people from parking in a space, and therefore the businesses suffer,” explained a regular at Bugolobi Village Mall.
Is it an Economy Problem?
The problem of businesses vacating the places, for different reasons isn’t however, only at Village Mall. A number of businesses have failed to operate in malls like Garden City for similar reasons. Metroplex Naalya was recently sold