One of the things driving vendors out of HoH is the 30% cut that they take from every vendors TURNOVER. A completely unsustainable business model as that cost just gets added to the sale price of products, along with VAT etc. It really doesn't make things good value for the consumer, especially in the current economic climate and the demographic of Hull.
All restaurants have rent, staff and utility bills to pay and it's always costed into the food prices. On average, a restaurants costs are 40% food, 34% staff and 26% rent/utilities, so 30% isn't wildly different from what any restaurant pays.
So there is no rent payable? Interesting model, which would presumably encourage smaller independents, while discouraging larger organisations.
I assume the 30% of turnover covers the use of the space, the equipment, the utilities and even the clearing staff and washing up.
And it means that when times are hard the landlord automatically takes a hit as well as the trader. Unusual in my limited experience of the retail world.
But that means HoH are taking a cut of the profit margin as well as the base costs, sort of like an additional royalty payment on top of rent. Interesting model it must be said. Great for everyone if footfall and average spend is good but as you and many have said, if you don’t manage it the right way it risks failing, which is a shame.
Was in the covered market yesterday and it was fairly busy. The lack of joined up thinking though may soon see a drop of business for the caterers, every up and coming place on whitefrigate appears to be a cafe.
Do you know how does HoH get to an accurate turnover figure? Does the trader give the customer a ticket then a HoH person puts it through a HoH till?
They'll just pull it off the till, as is normally the way with a concession based businesses (pretty much all major shopping centres and outlet centres have turnover related rent, even in my Carnaby Street store we had to submit copies of our takings as part of the lease agreement).
I had lunch in HoH Saturday before the game, was quite okay, food was fine and a couple of glasses of wine, a bit pricey but not out of the way compared to other places.
What happened to the plans for Europa House on the corner of Anlaby Rd / Ferensway. Allenby Commercials own it and I think had plans similar to the HoH model. The latter got there first, so not sure if The Europa House plan is going ahead (Allenby surely has far too much business nous after seeing what’s happening to HoH)?
It was going to be refurbished as offices, just with a restaurant site on the ground floor, but I think he'd had an offer to sell it to someone who wanted it for residential.
Ok, I was sure I’d read (prior to HoH) that the ground floor was going to be a similar theme with a generic open space accompanied by food outlets? Despite my incredibly youthful looks and athleticism, I am prone to very occasional senior moments
Have you any further information on Tower.Was planning to go a concert in December.Assume it is now cancelled.
I was in HOH last night around 7 I would say more staff than punters it really was noticeable how quiet it was ..It was signed as international beer day as we went in and all pints were £4 each so that was a result . We went onto Tappasya on the marina which has been one I was always going to go to ,went last night and it was very good .
Humber street swinging tonight … wish I knew how to add photos. Great to see the Humber Riviera buzzing
Yeah, we didn’t know about it until we walked over the bridge. Really busy, great for the businesses down there. Think it’s on next weekend as well
