Job Purpose
Provide support to the front end RBD team for timely launch of Current stores and ensure the budgeted expansion and topline from new stores are achieved.
Job Context & Major Challenges
The job context of this function is to provide backend support to the RBD frontend team and to liaise effectively with Legal, Projects & Finance teams to ensure sense of urgency to ensure timely launch of new stores.
The major challenges involve coordinating with the internal and external teams and in providing support and guidance to the RBD team in terms of :
• Co-ordinate with Legal team and closure of Due Diligence and execution of contracts and Agreements
• Co-ordinate with Commercial and closure of Commercial (Franchisee) agreements and Reconciliation of store planned for closure
• Track and Circulate timely renewal of leases for the stores
• Track and Circulate Rent Renegotiation Status growing channel. Business through other channels like multi brand outlets and departmental stores are profitable in the short term. There is huge investment in terms of rental deposits and CAPEX.
* Today, the rentals contribute substantially to selling expenses and hence overheads. A little change in the rental rates impacts the profits of the company directly. Moreover since the contracts are usually over a long period of time the rates have financial impact in years to come.
* MG needs to maintain its discipline while acquiring space in this chaos. Establishing processes in an industry that is largely unorganised is a challenge for the role holder
1.On time commencement of store operations
2. Negotiating appropriate Rent Free Period
3. Avoid Dead Rent
4. Sharing of the stamp duties
5. Decision on the right amount of rent per Sft
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)KRA1Internal Support•To ensure timely project approval from brands
•To obtain financial approval from finance team
•To obtain legal clearance/approval