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  • #967157
    AquaGirl
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    Hi all

    If i was to rent a retail premises in a small arcade, just wondering what insurance is my responsibility and what would be the landlords?

    I know i’ll need public liability insurance. any good and cheap companies who do this, feel free to let me know.

    If the shops in the arcade have a glass front, would i pay glass insurance or landlord? If the tenant pays, what is an average price for a small shop of about 15m2?

    thanks
    Linda

    #1023944
    Business Vic
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    AquaGirl, post: 28462 wrote:
    Hi all

    If i was to rent a retail premises in a small arcade, just wondering what insurance is my responsibility and what would be the landlords?

    I know i’ll need public liability insurance. any good and cheap companies who do this, feel free to let me know.

    If the shops in the arcade have a glass front, would i pay glass insurance or landlord? If the tenant pays, what is an average price for a small shop of about 15m2?

    thanks
    Linda

    Hi AquaGirl,

    If you are located in Victoria you can speak to an information officer at the Victorian Small Business Commissioner (VSBC) by calling tel: 13 22 15 for information regarding retail leasing law.

    Kind regards,

    Business Vic
    http://www.business.vic.gov.au

    #1023945
    chris_king435
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    @Business Vic: Are you aware if the Small business development corporation in the city still exists or is that all become online now?

    #1023946
    Solo Lawyer
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    Dear AquaGirl

    The only insurance you are required by law to get for a retail outlet is probably workers compensation insurance if you have any employees.

    Whether you have to get other types of insurance depends on your lease. Often landlords will want to see that you have taken out public liability by seeing a certificate of currency. By the same token, you may want to be sure the landlord has taken out insurance on the property.

    The landlords insurance policy for the property should cover the window repair and any other damage to the building. You should also take out insurance on your property and stock in the shop.

    Bye

    Michael Terceiro
    Solo Lawyer
    http://www.terceiro.com.au
    http://www.tpatraining.com.au

    #1023947
    AquaGirl
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    Solo Lawyer, post: 28793 wrote:
    Dear AquaGirl

    The only insurance you are required by law to get for a retail outlet is probably workers compensation insurance if you have any employees.

    Whether you have to get other types of insurance depends on your lease. Often landlords will want to see that you have taken out public liability by seeing a certificate of currency. By the same token, you may want to be sure the landlord has taken out insurance on the property.

    The landlords insurance policy for the property should cover the window repair and any other damage to the building. You should also take out insurance on your property and stock in the shop.

    Bye

    Michael Terceiro
    Solo Lawyer
    http://www.terceiro.com.au
    http://www.tpatraining.com.au

    Michael, thanks for that. I also thought the glass was usually part of the building insurance etc but after talking to accc they mentioned glass insurance is usually tenant’s responsibility but could vary depending on lease.
    I am getting public liability insurance, in the process of finding best deal

    Is there some kind of law where suppliers (incl overseas suppliers) cant sell to a shop in the same suburb or within a certain radius of your shop? Or do we just have to get them to fill out a form and hope they cooperate?
    Nothing like a shop with more funds for advertising etc to run a small shop out of business… :)

    Really appreciate the advice

    Linda

    #1023948
    Solo Lawyer
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    • Total posts: 42
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    Dear AquaGirl

    There is no law which prevents a supplier from selling the same products to different retailers in the same local area.

    The only way to legally prevent that happening is to get an exclusive distribution agreement from your supplier. You could say to your supplier that you will only sign up to sell their products if you are granted an exclusive territory. This type of arrangement is very common in the franchising area.

    However, if your supplier is a large company they are unlikely to agree to any exclusivity.

    Also in some limited circumstances granting exclusivity can breach section 47 of the Trade Practices Act 1974. Suppliers sometimes claim that they can’t grant exclusivity as it would raise a problem under section 47.

    Bye

    Michael Terceiro
    Solo Lawyer
    http://www.terceiro.com.au

    #1023949
    AquaGirl
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    • Total posts: 112
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    Solo Lawyer, post: 29285 wrote:
    Dear AquaGirl

    There is no law which prevents a supplier from selling the same products to different retailers in the same local area.

    The only way to legally prevent that happening is to get an exclusive distribution agreement from your supplier. You could say to your supplier that you will only sign up to sell their products if you are granted an exclusive territory. This type of arrangement is very common in the franchising area.

    However, if your supplier is a large company they are unlikely to agree to any exclusivity.

    Also in some limited circumstances granting exclusivity can breach section 47 of the Trade Practices Act 1974. Suppliers sometimes claim that they can’t grant exclusivity as it would raise a problem under section 47.

    Bye

    Michael Terceiro
    Solo Lawyer
    http://www.terceiro.com.au

    wow.. its not so easy then for someone starting out :( i guess i have to do a lot of advertising to make any sort of impact…

    do you think $600 is too much for public liability insurance 10mil coverage, small store, incl broker fee? ive just been too busy to ask different places as they all require your details etc

    Linda

    #1023950
    Solo Lawyer
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    Dear acquagirl

    I don’t have much experience in this area as I work from home and go to visit my clients rather than let them come to my house.

    However, I have had a few clients who have had to take out public liability insurance. On the basis of what they paid, your price seems very reasonable.

    Bye

    Michael Terceiro
    Solo Lawyer
    http://www.terceiro.com.au

    #1023951
    Business Vic
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    • Total posts: 35
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    chris_king435, post: 28667 wrote:
    @Business Vic: Are you aware if the Small business development corporation in the city still exists or is that all become online now?

    Hi Chris,

    Apologies for the late reply.

    Small Business Victoria currently has a business centre located at the Victorian Consumer and Business Centre in the Melbourne CBD.

    Please visit the following link for a full list of our business centre locations in Victoria:

    http://www.business.vic.gov.au/BUSVIC/STANDARD/PC_63063.html

    Kind regards,

    Business Vic
    http://www.business.vic.gov.au

    #1023952
    Merlin McCloy
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    AquaGirl, post: 29982 wrote:
    wow.. its not so easy then for someone starting out :( i guess i have to do a lot of advertising to make any sort of impact…

    do you think $600 is too much for public liability insurance 10mil coverage, small store, incl broker fee? ive just been too busy to ask different places as they all require your details etc

    Linda

    Hi Linda

    The Insurance Broker you approached for a quote should have completed some research for you and presented a few quotes for the Public Liability Insurance.

    Your lease will tell you what insurance your landlord requires you to have to tenant their property. If you sign the lease you are agreeing to take out this insurance. Many landlords now require the tenant to pay for the insurance on the building separately. Read your lease very carefully. Both you and your landlord will have Public Liability Insurance. They as the property owner, you as the tenant and business owner.

    Any questions please give me a call.

    #1023953
    nev
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    The 2 shops I have leased I had to have Plate Glass insurance it was part of the lease conditions

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