Sam Kidd's thoughts on business

This is my personal space where I share random thoughts and opinions on general business and business practices.

All Blog Entries Tagged : Ireland

2008-10-07 09:00:00.0

The market comes to Town

What a savage Sunday we just had, wish we had more days like that during the summer.  After my Sunday morning coffee in Sam&Dan's Billy and myself headed for Grand Parade to find a full food market set up. It was cool to see the Grand Parade since it was done up being used for something.  We were in walking around before the crowds found the place, we stoped at one stall and had a box of roasted potatoes with sausage...amazing! I'm drooling right now.

It would be nice to see them do more stuff like this more often, the Grand Parade is such a great space now. I picked up some savage home page jam from McBride&Flynn, they are based down in Kinsale and I have to say the jam was unreal, homemade jam just has so much more flavour. I also picked up some Banana bread and Goats cheese from a few other stalls ,mmmm making me hungry writing this now.

McBride&Flynn Jam

I never seem to see these events advertised any where, I always just happen to stumple along and find them. Where do they advertise these days? is it in the paper or radio? Where ever it is I never seem to ever see any press about the events which is a shame because I would love to go to more of them. You can easily forget that there is such great foods made right here in Ireland, I'm always saying how good food in other countries is,but do you know what, I think the west of Ireland is right up there. (most of the food stalls seemed to be from down that direction.)

The guy in McBrides was saying that there is going to be another market on Patrick St this coming weekend, so if you have nothing on and want some savage food I would recommend getting in to Cork over the weekend.

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2008-04-20 23:34:00.0

Ryanair advert which has a go at aerlingus

You got to love the guys who do the adverts in Ryanair. I can't help but think a certain Michael O'Leary might have had something to do with the wording of this advert which appeared in the papers today.

 

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2007-10-15 12:47:00.0

Is Cork city centre doomed?


When you walk down Patrick St these days you can’t help but notice the amount of retail property that is for rent. Now you would think that because it is the city centre that people would be fighting to get into these places. But this does not seem to be the case. It’s not just Patrick Street either where you see vacant property. If you walk down Oliver Plunkett St and other surrounding streets in town it’s the same story. There are quite a few places for rent. Some of which have been sitting empty for over a year now.

I can’t help but feel it has a lot to do with greedy landlords.

These days a shop in Cork City is not just competing with the shop down the road anymore. Local competition has increased with the new large shopping centres out of town, and their offer of free parking. Now if that wasn’t hard enough., you are also competing with the rest of the world as well. Online shopping has grown massively in the last few years. Now it's not uncommon to purchase every day items online, and from other countries, and have it arrive at home the next day.

I keep hearing people giving out about the price of things in Ireland, and how the shops are ripping us off, and how expensive it is to eat out in town, and “man how the shops must be cleaning up”. I’m sure some are ripping us off, but I do feel that a lot of them are just trying to survive. To do this your going to need massive volume, and goods that have a high mark up on them. 
Everyone is blaming the shops for ripping us off but are the shops being ripped of first? The fact is, the reason most shops are charging so much is because they're being screwed from the top. Rent in town is nuts, rates are huge, of which I have yet to work out what they actually pay for, because you have to pay for rubbish charges, and soon water charges. Customers have to pay for parking in town as well, and if they're not careful could be clamped or towed. This does nothing to encourage people to come into town to shop.

I can’t help but wonder how the shops in town can survive.

Recently I have been looking at a lot of property in town, and the rent is just nuts. 40-50K a year for a place you couldn’t swing a cat in,and that’s for propertys that are not in prime locations. Most property in top locations are from 70k to 90k for better spots.

As an example say you had to pay rent of 50k.
You have to pull in €60,600.00 to just pay the rent. That’s because once you get hit for 21% VAT on the 60k it leaves you with $50,082.64. So that’s your rent covered.

You will have rates of around €8000 so that’s another €9500 you must pull in.

So before you pay any bills and have any staff or pay high insurance costs you must pull in profit of €70,100.00

That’s €192.00 of profit a day.

You can see why so many shops in town must stay open 7 days a week. €192.00 doesn’t look like much but when you have all the other bills on top it sure adds up.

If you look at a coffee shop as an example. It would take about 90 cups of coffee a day to make this.
It will be interesting to see if Cork City centre can survive and if the council will do anything to help traders. Now that Cork City centre is starting to look really nice it would be a shame for it to become a ghost town of retail units.

 

 
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