Factors To Consider When Buying Or Renting Warehouse Space In India

Business Growth is extremely exciting and dreams fulfilling of every business owner. With your business growth, there comes an expansion plan as well which require a warehouse space. So before you require much large space for holding or dispatching your goods there are certain factors to consider while buying or taking a warehouse space on rent.

Traditionally one of the most ignored sectors in logistics, warehouses have now developed into sophisticated stockrooms with advanced, real-time tracking mechanisms and other state-of-the-art facilities, which have been instrumental in shaping the modern economy. Thus it had evolved from traditional godowns’ to the modern setups which have a complete suite of the warehouse management system. Now the trend is changing and there is a great demand for warehousing and logistics especially from tier-II cities like Jaipur, Ludhiana, Lucknow, Guwahati, etc

There are various factors to consider while choosing a warehouse space for your business.

Calculate the space required

Business planning is a meticulous task as it never works on the present work situation. It only works with the estimated plan of business growth in the coming years. Having a thoughtful space planning is very essential for the growth of the business. Space can be a valuable deal only when it is well-calculated else in case of gradual growth it can disturb the financial circle by incurring the extra funds in the space. So a better analysis you have the wiser you will be to make a decision. Thus the storage requirement should be according to the product.

Desired Consumer Base

While choosing a location it is very essential to consider your customer’s location. Your customers should be in close proximity to your warehouse. This will lead to good customer service as well will reduce the cost of shipping thus with the faster and cheap shipping process. This will make your customers happy and more likely they will be loyal towards your brand.

Proper documentation and understanding of Rent term

The rent agreement or lease agreement is a vital document one should go through it accurately before finalizing your warehouse space. Even the increase in the rent amount should be considered if it shoot up the cost will disrupt the financial planning of your business.

Proximity to the carrier services

Make sure your warehouses are near to carrier services as it will streamline the process of shipping your products to your customers. If there is a good balance it makes the shipping process easier and faster as well make customer loyalty. Always determine a reasonable balance of distance between the manufacturing location, warehouse storage, and customer and always evaluate the transportation and shipping costs that go with that distance

Workforce Availability

More than the physical space of the warehouse location it is the demographics that matter. Understand your labour need because people in different locations have different skills and so the price of the place changes accordingly. Always consider the supply and demand of workforce availability.
If the demand of workers is more in that area it will then lead to high salary so such variation will impact the business so having a proper evaluation of the workforce in the area is very essential before opting for warehouse. To research and understand the demographics of the area, research the educational attainment and income levels of the city or state, which can be found on government websites. Understanding the workforce is important because it impacts your employee retention and productivity rate.

Longevity

Consider the longevity of your warehouse location it will impact the growth or shrinking of your business. Always analyze the potential growth of your company and determine if the warehouse location has room for expansion. If your product is seasonal, it is always advisable to consider a location that offers the seasonal renting facility. Evaluate the potential of the warehouse space and plans for longevity.

Taking the advice from the Professionals

It is always advisable to take the suggestion from the experts since every industry has different work condition so with the expert’s suggestion any unforeseen problem can be resolved prior.

Having an apt online platform for managing multiple warehouse properties. With the demand in the growth of warehouse space, there increase the necessity for online property management software,

MPower is one such platform which completely takes care of all the properties from a single interface. Thus providing accurate data analysis.

Choosing a warehouse location require lots of aggressive research work. The location of your warehouse can be mutually beneficial for your company as well as your customers, overall providing a more efficient, effective, and profitable experience for your customers and company.

July 25, 2019 2

6 Affordable Retailing Alternatives for Small Businesses

When starting a retail business, making a product that your customer will like is just the beginning of the battle. The next steps are to get that product in front of your target customers and unless you have a few lakh rupees lying around buying your own traditional storefront goes out of the equation.

Well, there’s good news for people who have a product to sell: These brick and mortar retail stores are not the only options for you. Whether you want a scaled-down retail space for rent or choose to sell online there are many alternatives that fit into your budget of selling your products.
Here are budget-friendly ways to run your retail business:

Kiosks

Don’t want to buy a retail store but still want to have your own space in a high traffic area? A kiosk is a perfect option for you. It is a great opportunity for businesses that have a small inventory. These small stands got their start several years ago with seasonal retailers wanting a short term option. Today there are thousands of kiosks in malls, event venues, markets nationwide that sell everything from food products to retail products.

There are many benefits of opening a kiosk, especially for new business owners. The total cost of the kiosk is all in meaning the cost of the location will also be included in the minimum rent amount. Smaller footprint and square footage mean a lower overall rent with less overhead and operational costs.

Another advantage is that they are usually located in high traffic areas such as malls due to which the visibility of the brand increases. This can help in making high sales and can help in brand marketing. Kiosks are usually cheap and can be based on an hourly basis. They are on a short term basis which has no risk of long term leases.

Food trucks

One of the riskiest and expensive ventures that a businessman can pursue will be the brick and mortar restaurants. Food trucks are becoming popular and are now a business idea for many businesses to get started on a budget. You get to show your skills thereby making a huge impact on your customers.

Food truck operators are able to open a shop quickly without a large amount of investment. You just find a small space which will not include extra costs of a kitchen and staffing and dining room. Food trucks have been growing because of the growth of speciality foods like gluten-free and vegan foods.

Statistics even show that failure rates of new restaurants are between 60 to 90 per cent while for food trucks it is just 10 to 20 per cent.

Pop-up shops

Popup shops are most common during holidays or festivals, but many few businesses take advantage of it all year round. Small business owners can take advantage of this and open a temporary shop as per the motive and position of the business. It can help to jump-start their sales marketing and branding efforts.

A great advantage of this business is you can move around and open in different neighbourhoods and expose your brand to a wider audience. Online businesses that want to test out their products can also use this way to really personally know their customer and market their product accordingly.

Related Post: Start your own hassle-free popup shop!

Stores can be found according to their budget and the location they select. Business owners should take a fully professional approach as if they were opening a retail store. The impact that these stores have on consumers is huge so taking this approach for small or big retailers will be really profitable.

E-commerce

If you have a product that can be packaged and shipped anywhere then eCommerce is your way to go. It is an e=inexpensive way to get your business out there. Without the cost of having a retail location, you can almost instantly start off with selling your product online. All you need will be a well-designed website and a shopping cart.

Mobile retail units

On the go, businesses are not just limited to food enterprises. Cost-effective retail stores like repurposed trailers and recreational vehicles are soon becoming popular. This has helped in finding success as businesses can keep on moving to different locations and reach new customers. They can share their whereabouts and keep their customers updated via social media.

Running a business from your mobile retail shops will give you the freedom to set up shops in new locations. The main advantage is that you are not stuck on any agreement and you can move wherever you want to.

It can give the flexibility to move so that you aren’t stuck in a location where there is no sales happening.

Wholesale

A wholesale business will help you get your products in the market without much effort in selling them. They can be in the form of an independent boutique to the large department store. You can produce a large number of products and sell them online to retailers.

To sum it all you can apply any one of these techniques and start off with your business on a small scale. Some of these businesses can create a huge impact on the public and can give you a jump start for your business.

Myrsa will help you find temporary spaces on rent at different locations. Choose the location of your choice and your budget as per your requirement. It is as easy as booking a hotel.

July 23, 2019 0

Ways to Improve your Real Estate Customer Experience

For businesses that frequently come in contact with direct customers, it is pivotal that you provide a good customer experience if you wish to retain them. As per a 2018 PwC study, consumers are ready to pay 16% extra for good customer experience. Yet, the most important reason why customers turn their backs towards businesses is insufficient speed and efficiency along with inconvenience.

More and more businesses are focusing on improving their point of contacts with customers. This enhances their experience and adds a personal touch which in turn retains the customers. On-demand services like Netflix, Uber, Ola, etc. are surpassing the expectations of customer experience, thus helping them sore their business to unmatched heights.

The expectations of customers have drastically changed over the years, with most of the consumers expecting quick and reliable solutions. Businesses need to get on board with the trends of the market if they want to make it to the other end.

CUSTOMER EXPERIENCE VS CUSTOMER SERVICE

Customer service and customer experience are two sides of the same coin. Even though customer service had been the top priority of businesses for the past few years, light is now being thrown on the importance of customer experience.

So what really is the difference between the two? According to Forbes, customer service is defined as “the advice or assistance that a company provides to its customers.” whereas customer experience is defined as “the total journey of a customer’s interactions with a brand.”

Customer service is a reactive measure that a business takes when a consumer reaches out for assistance. However, customer experience is a proactive measure where a business reaches out to the consumer. This makes the customer feel heard and acknowledged.

CUSTOMER EXPERIENCE IN REAL ESTATE

Due to the entry of a number of competitors, retaining your customers can be a difficult task. Even the slightest of frictions between the interactions of you and the customer can result in a drift.

Customers demand quick responses and reasonable prices when it comes to real estate. Being at their constant beck and call can enhance their customer experience and improve your goodwill in the market.

WAYS TO IMPROVE YOUR REAL ESTATE CUSTOMER EXPERIENCE

Confused about how to improve your customer experience in your real estate business? Leave your worries to us as we have listed here a few things on how you can get started

Low Response Time

The choices that consumers have has increased significantly while their patience to wait for a response from the business has dropped. Speed, convenience and efficiency are vital if you are aiming at improving your customer experience. Simply acknowledging their queries and requests can buy you some time while you contact the customer to resolve the issue within a few hours or days from which a query was made. This takes up very little of your time but yields great results in customer experience.

Consider Automation

Automation is the recipe to run a successful business. More and more people are opting for automation, thus increasing the efficiency and speed at which your real estate business caters to the customers. Automating most of your processes allows you to focus less on calls and paperwork and more on growing your property business.

Streamline processes

Proper planning and execution reduce the chances of you facing any hiccups in your business. An easy way to solve this is to opt for a property management software that takes care of all the processes of your real estate business. This allows you to take care of everything from one place at any time, anywhere.

Measure success

Measure the growth of your real estate business every now and then to figure out what marketing strategies you should plan next. An easy way to do that is to generate timely reports that help you analyse the trends in your business.

These are some of the ways to enhance real estate customer experience. Now, following all of the above without a little help can be tedious. Keeping that in mind, we have developed the perfect solution to all your real estate problems.

Mpower is a real estate management software that lets you list all your spaces on the dashboard, accept inquiries for the listed spaces and earn effortlessly. You can also maintain financial records and paperwork that reflect the transactions made with the bank and the customers. Moreover, we provide you with a dedicated relationship manager that looks after all your queries and resolves them in no time.

Manage your entire space inventory and earn effortlessly with Mpower!

July 18, 2019 0

Guidelines to Follow for your First Gallery Exhibition

How do I prepare for a gallery exhibition?

The field of Photography has gained a lot of fame and interest for people all around the world. People are keener to try out new things and are not scared to explore the world all alone. In the early days due to the social rules and a limited amount of exploration, people were unable to experience travelling and meeting different people and exploring the numerous moments of life.

But today it is a totally different view of life experienced without any boundaries of gender, age, language, religion. Many of the photographers are travellers, who travel to various places and capture the most breathtaking moments from different parts of the world.

The society is more interested in the photography today than ever seen in the history, in historic times portrait painting was the only way but was time-consuming, today within a fraction of a second you can click and capture your present situation. People love to visit a gallery exhibition where you get to witness the skill and art of photography. In some exhibition you also get to buy those photographers, this is a great way of income for a photographer or even for the person who organizes the exhibition.

Here are few guidelines one must follow in order to prepare for your first gallery Exhibition:

Choosing a Theme

Quality being equal, collection of random clicked photographs may not have that much of impact than a bunch of photographs which tie up together or are related to each other will. The theme for a gallery exhibition is a powerful way to enhance the mood, increase attendance and attract people. A particular exhibition interesting for me can enhance the overall look and make for the visitors.

Finding a Space

Spaces matter the most on any occasion be it a wedding, birthday parties, and in this case a first gallery exhibition. While finding a commercial space, space must suit your decided theme; some people go according to their choice or personality. The selected place or space must be comfortable for the visitors, important for presenting your skills in a way to impress them as well.

You can go for well-supported spaces which are famous for the art gallery exhibition, but you have to create and present an out of the box exhibition people have not seen. Also, don’t hesitate to try new places which are not been used before for exhibition, sometimes unknowingly unexpected spaces become the perfect choice.

Cost/Benefit Analysis

Having an exhibition can give you many benefits. When you display your work in public it becomes a great way to get your name out in the community. It can also help you to boost your confidence as an artist. Art is meant to be consumed by everyone and photography is an art. Therefore, it is of no good if you keep it locked in your hard drive.

Now, enough with this inspirational ramblings, let’s talk about costs. The things that you will need to pay for will include frames, printing, cost of the space, any food or drinks that you will want to provide to your audience. Before going on with your plans you should take all of these things into consideration. As tiresome as it may sound you need to make a budget.

Printing

Printing your photos can become very costly. You can use online printing services and save money (especially if they are having discounts on huge orders). You can also print them yourself if you have a printer.

Before you start spending money on print, keep considerations of how much space you are going to work with and how much money you can actually afford to spend on prints. Having different sized prints can help show some variety in your exhibition.

Get The Word Out

So now you have got all your work is done and ready to go. The next step is to get an audience for your exhibition. First, start with your friends and family, and then move towards hi-tech. You should have no problem letting people be a part of your plan whether it be Facebook, Twitter, any other online communities and message boards and your personal blog or website.

Also, you can consider going for traditional ways by opting public relations and contacting the local newspapers. Contact some photography teachers and invite the whole class to attend.

Sales

The main aim of your event should not just be to make money in your first showing or second or even most ones after that. If you go into this by thinking of it as your money making attempt, you will be disappointed. But you may be able to recover your costs a little.

For this, the first suggestion would be to price your pieces reasonably, but make sure that you are not underselling. Look at the costs that have been put into making a particular frame and then choose which should be expensive. Don’t price based on what you think is best or worst. You can even sell without frames that will sell for a much lower price. This will increase the selling capacity.

Following Up

You should have a guestbook at your opening and viewing period. This will help you collect names and email addresses of people who were interested in coming to see your work. This will help you in your next exhibition and will be much easier to target people.

Now that you are ready for hosting your event follow all these guidelines and get on with your first exhibition.

Myrsa will help you find unique spaces on a temporary basis. Find spaces on an hourly or daily basis and make your exhibition one remember. Find spaces that are closer to you.

July 16, 2019 0

Location Based Entertainment: An Emerging opportunity for Startups

Today, all around us we can experience that the future of brands and brand storytelling is the Location Based Entertainment (LBE).

There is a state of rapid transformation in the brick and mortar retail. Malls are reinventing themselves as lifestyle hubs and retailers are embracing retailtainment and experiential models. Digital brands like Google and Amazon which were hyped to spell the absolute end of brick and mortar are now slowly moving into the physical world. Fo blockbuster entertainment franchisees, theme parks and unique destinations have appeared to be the next natural frontier to capture. Business models and sectors are in flux as the lines are being challenged, blurred and redefined.

Physical destinations remain as important as ever.

In actuality, physical destinations have now, in this Age of Convergence has become the ultimate platform for delivering what the consumer needs. Providing a transformative experience, consumer engagement is making a shift towards guest engagement.

Any brand that wishes to compete and thrive in this new world should know that location-based entertainment is an essential pillar for them. Here are five ways which will help you build your brand and be one of the primary to realise this emerging market opportunity:

Use this as the means of your brand storytelling.

Successful LBE’s are not just a layer of a show or razzle-dazzle applied to the same old model but is more than that. It is the adaptation of the brand identity onto an extraordinary world that the consumer can be a part of. Enterprises like Disney’s Star Wars, Tiffany’s Style Studio, Legoland Discovery Centers, Singapore’s Gardens by the Bay, the luxury real estate developments of high-end brands like Armani, Porsche, or Fendi are all manifestations of strong brand storytelling.

Make sure your consumer is the hero of the story

Brand storytelling is a collaborative act with the consumer. The consumer is just like all of us they already have their own story one in which they are the hero. So when the brand contributes it should find add meaning to their existing story. The brand plays a part and fulfils the role of a trusted source or a mentor to that consumer. It Harry Potter is the consumer then the LBE brand destination should have Dumbledore and Hogwarts all rolled into one. The brand’s main aim should be to empower and elevate the consumer. You want to introduce them to an extraordinary world which will provide them with an aspirational life.

You need a clear and powerful value proposition.

LBE is used as a tool that brings additional value to the customer. At the core of every brand destination, whether be it be complex or well defined, is an insightful value proposition, one which expresses the nature of the customer-brand relationship with simplicity and clarity. Just like in any good firm, every shot, every line of dialogue is in service of moving towards the story, in LBE, every feature of the brand should also serve to realise the value proposition.

Related Post: Start your own hassle-free popup shop!

Know your audience.

While the value proposition can be told to express the changing heart of the customer brand relationship, it only tells a small portion of the story. Guest engagement should not be just that it should reach the audience on an emotional, social, and cultural level; what their problems, desires, habits and aspirations are.

The goal of the brand in LBE is to create content, environment and experience that the consumer would love to be involved in. This will require the brand to have a deep understanding of who the consumer is and turning those insights into results that are actionable. At this point, you should have the entire customer journey map illustrated. This can then help to analyse and understand all the brand’s interaction with the consumer.

Be authentic to who you are.

Let’s face this fact that there are many smart and talented people in the world and many of them provide the same products and service as you, whether it is an LBE designer, a film on a hero’s origin story, a beach resort or an entire cruize ship. Therefore, it is your team’s collective presence, your knowledge, your attitude or your level of service and the relationship that you have with your customer overtime that sets your brand apart.

You should focus on creating content and experiences that are a true reflection of who you truly are that the customer cannot obtain anywhere else. This requires a thorough understanding of who you are as a brand an also emphasises on leveraging the best intersection points od your brand’s mission vision and value with your customer’s journey.

If you are a brand who would like to indulge in LBE and likes to create a different experience for your customer then you should surely take a step. Finding unique spaces for your brand can become a tedious task and here where Myrsa will help you. You can find any commercial space for rent as per your requirement, that too on a temporary basis. Leverage LBE in your brand’s journey and let your customer get the best sense out of your brand.

July 9, 2019 0

How to Prepare Successful Workshops & Seminars For Events?

Successful workshops or seminars are a result of adequate prior preparation on the part of the organiser of the event. These events are a costly and a time-consuming effort, therefore it is of paramount significance that the event meets or exceeds the desired objective of communicating the information conferred to the selected target group. Globalisation and technology have played a major role in giving the opportunity to conduct seminars or workshops in a variety of different ways. The resourceful organiser, whether you are in a government or a private enterprise, should be alert and responsive to embrace these changes that occur in their working environment which impacts the profitability, efficiency and their effectiveness.

Workshops and seminars traditionally were conceived as being different types of training devices but in recent times, the two things are being seen as synonymous and more or less they are referred to as the same thing. Preparing seminars and workshops require an understanding of a variety of unique skills and concerns. Each workshop has a unique set of the target audience and more unique skills and objectives, and possibly a different number of participants. It is usually held in a different place with different infrastructure. Two workshops can never be identical even if they are on the same topic.

Process

There are a wide number of activities that are involved in preparing a workshop and these activities are organised into three stages that are preparation, implementation and evaluation stage

Preparation Phase

Preparation for a workshop requires a number of activities such as;

Determine the budget that is available to host the event
Determine the theme or the topic to be presented at the workshop
Engaging with the relevant presenter and securing them
Identify the target group and the number of participants required
Securing the venue and finalising the event details
Contact relevant ministries, departments or target group to inform them about all the events
Finalize list of persons attending
Sourcing all the resources that are required by the organiser and the presenter
Contact an accountant and request a local purchase order

Budget

Funding is an integral part of the event since the amount of funding available for hosting the workshop will determine the factors that are essential for planning the event.

Venue
Duration
Number of audiences
Equipment required
Informational materials
Availability of refreshments
Expertise of presenter

Theme / Topic

The topic of the seminar should address the issue should be simulated by the interest of the business groups or the wider society. The topic that is selected should naturally lead to the objective of the seminar. These objectives determine the scope of the seminar and should deal with the areas that are specifically related to the achievement of the seminar’s objective.

Selection of Presenter

The quality of the presenters can greatly determine the success of your seminar. Therefore, it is necessary that you choose speakers who are appropriate for the topic chosen. Ideally, a speaker should be someone who is at the top of their field or someone who possesses in-depth knowledge of the particular area either academically or professionally. The presenter should be well aware in advance about the topic that he is going to speak about and it should meet all the desired objectives of the event that they will be presenting. The material that is presented should be accurate and up to date. This will undoubtedly influence the equipment and visual media used in the presentation. Confirmation of the speaker participation in the event should be sure at this point.

Points to consider:

Expertise/Strong research background
Ability to convey knowledge to a large audience
To be unbiased and non-partisan
Honorarium
Should keep an alternative speaker as a precaution

Target Group

The aspects of participants will determine the structure, content and activities offered in a workshop. Some of the key questions that have to be taken into consideration are:

What is the size and composition of the group?
What are the ethnicity, gender, ages, and teaching experience of the participants?
What is their level of interest?
What are their needs?
How to alleviate problems that might emerge?

Find Workshop Spaces for Rent

Your workshop venue will depend upon the type of seminar that is being presented. The facilities of the venue should cover all the necessities required for a comfortable accommodation. Budget and needs of the presenter should also be taken into consideration.

Points to consider:

Cost
Capacity
Security
Computer accessibility
Lighting & Acoustics
Audio / visual requirements
Temperature

Finalize Details

Determine how long your seminar will be, the model of deliverance, equipment needed by the presenter, handouts or the learning material for the participants, breaks to be conducted and refreshments, and deadlines for replying. Secure a caterer to provide refreshments.

Contact Relevant Departments / Participants

Initial contact of those Departments or persons identified to attend the workshop, with the complete details of the workshop included. Includes:

Deadline for response
Workshop overview
Essentials for eligibility
An estimate of participants required

Follow Up

Liaising with Departments/participants to ensure that the information distributed by the organiser was received. Ascertain the potential participants who are visiting the workshop and remind them of the start date.

Prepare the Final List of Participants

The final list of those Participants attending the seminar is prepared. All relevant persons like Caterer, Presenter, and Facilitator are notified of the number of participants.

Resources

All resources needed for the workshop is obtained or sourced at this stage.

Checklist:

Projectors, Laptop
Flip charts
Software to be utilised
Stationery
Handouts
Name tags

Follow all these points and then lastly make all the payments required. This will help you create a workshop that will create a lasting impression on your audience.

Finding spaces for your workshops for just a few hours has always been a tedious task. Myrsa will help you make this process easier. Find workshop spaces on rent on a temporary basis on Myrsa.

July 3, 2019 0

Age of Experiences is here: What is Experiential Marketing?

It’s 2019 and getting consumers attention has become even harder now. For this reason alone it is easy to see why brands are falling in love with the idea of experiential marketing.

Experiential campaigns are immersive, live and memorable which will help you deliver your message without distractions. When you are new to it, it is possible that your strategy may lack the standard definition.

So what exactly is experiential marketing? Are there different types of it? How does it differ from your traditional marketing, or from live events generally? And when will be the perfect time for your brand to use this technique over other tactics?

Let us get a better understanding of the meaning of experiential marketing.

Experiential marketing, defined

Experiential marketing is a strategy that a brand uses to give a personalised experience. Also referred to as “live marketing” or “event marketing experience” the idea of this is to create a memorable impact on the customer. An experience that will motivate them to share with their friends both online and offline. This could be in the forms of event, a part of an event or a popup activation that is not tied to any event.

At its essence, experiential marketing is all about immersing the customers in live experiences. It’s likely a similar approach to the one that you use while crafting an event experience.

Events do often overlap with experiential marketing in two ways. Events can be a part of larger campaigns as a grand opening of a popup shop. Even smaller brand activation can be a part of an on-site art installation.

No matter which of the cases you fall under, you must be clear about the goals for each campaign. There are different ways to measure the impact of your experiential marketing campaign. Social expressions earned that means having a unique hashtag and by surveying your attendees after the event.

Should you try experiential marketing?

When should your brand incorporate an experiential marketing campaign in your business? It depends upon your goals, timeline and the resources.

Experiential marketing can help you humanize your brand and create an experience that will leave people with a permanent and positive impression. Although these experiences are in person and live you need to add social and other means to amplify your efforts across different channels.

Related Post: Start your own hassle-free popup shop!

It is not enough to provide your customers with the prize wheel or lottery and then call it a day. That type of event is not called as experiential marketing. You need to create different ways or touch points that will engage your attendees in unexpected ways. That provides benefit to all of you, your event and your sponsors if you have them. This means that you need to have the budget to make your event big or a brand name that will make it big.

Better Experiences for Consumers and Brands

The goal of experiential marketing is to create a lasting impression on customers that they will want to share with others that will ultimately lead to brand loyalty. You are not just advertising the product but you are making the customers aware of what their life would be with the product. You are creating that connection between your brand and the positive vibes of the customer.

Many managers have started to devote almost 20-50 per cent of their budgets to experiential marketing efforts over the next few years. If they are not a part of your marketing strategy right now, then they should be. These are the benefits and the main reasons why you should:

1. Lasting Connections With Consumers

One of the main reasons big brands are following this trend is that it creates a lasting impact on the customers. Many of them have already begun building connections through this. Enhancing the experience by different activities turn out to be the best options for brands.

2. More Data in the Moment

When it comes to any form of marketing knowledge is power. Collecting information or data of customers through these has become the top priority of many businesses. Marketers need data about customers to know where and how to reach them most effectively. Product developers need to know which product will appeal more to the customers. Business leaders need to steer the direction of their companies.

Experiential marketing gives customers the prospect to learn about products and brands while also enjoying the experience. Those customers who are willing to exchange their personal info as the admission price to an event or experience they want to attend.

Experiential marketing is essential for data collection. The data that is collected from these events can be used to make changes in the messaging, create value, and increase customer engagement on the spot.

3. An active perception of your product

One of the main goals of marketing is to give knowledge about your product to the customers and this works well when the customer is engaged. Most people go out of their way to avoid commercials, yet most will go out to have unique experiences. That’s why experiential marketing works so well. Tie your brand or product to a new experience, like events, and consumers are most likely to get the message. In fact, 65% of consumers say that live events or product demonstration helped the customers to learn better about the product than any commercial could.

Luxury brands and other sectors are using experiential marketing to transform customer experience. Well executed marketing campaigns can turn passive customers to active participants.

It helps in transforming and elevating the connections of brands with the customers, and that’s becoming increasingly important as customers demand more specialization. With the benefits that are mentioned above, won’t be long that everyone catches up with it.

Unique spaces play a much important role in experiential marketing than you think. Finding spaces in different spaces like malls, hotels, office parks and many more is possible through Myrsa. Renting spaces on a temporary basis becomes a huge challenge for businesses. Myrsa has made this process of finding event venue easier and renting spaces for your experiential marketing has become as easy as booking a hotel. Visit our website to know more.

June 25, 2019 0

How to Choose a Co-Working Space Wisely?

Firstly what is Coworking? It is a business service provision model that involves individuals working independently but in a shared office. Mostly user of a co-working space is a self-employed or a freelancer. It is also beneficial for businesses who want to provide more equipment and space for their employees which they can’t afford otherwise.

Larger enterprises sometimes also opt co-working to provide facilities and space for larger number employees they may higher than normal number hired. In cases like this, one must maintain a number of people hired as their services are shared. Every owner of space provides a work environment, amenities and office equipment found in a typical office.

These are some typical features of coworking facilities include:

Shared Workspaces.
24/7 access.
Rental conference and/or board rooms.
Internet services
Communal printer/copier/fax.
Shared kitchens, bathrooms, and lounges.

Earlier in days if you were an entrepreneur, freelancer, the only choices in front of you for setting up a business were either out of the home of course or any temporary spaces on rent. Thankfully now we can witness the things changing, as the risk-taking ability of entrepreneurs has increased and changed drastically. Funding for a good idea is now possible with figuring out a solution for basic problems that have become so normal.

Here are some essential points you need to consider before taking up a co-working space :

Ask For Trial Period :

Most of the coworking spaces currently offer potential customers to experience the space for a day or two. Therefore, asking for trial is very beneficial and lets you experience whether space is comfortable to your working style. A trial will always make you understand the space better with the vision of how the working will be executed.

Considering the office equipment and amenities, surroundings matter a lot while taking up co-working space, noise levels around must be considered as there should not be any disturbance to your working style due to others. There should not be any disturbance due to a fully occupied space. Also, the availability of quite rooms, conference meeting rooms for discussions. Thus, getting a preview before signing up for the co-working space is crucial.

Know the cost :

The most important point to be taken into consideration is to know the cost. This is a significant aspect when determining the best and ideal co-working space. Different daily, weekly or monthly plans of availability, help to identify the one which fits in your budget.

Some spaces may charge extra for facilities like the dedicated desk, stationery, photocopy and print outs, WiFi, over a certain limit. But basic facilities like water purifies, bathrooms, electricity should not be charged extra as these facilities are which are primary. It is also advisable to know its membership cancellation policy.

Identify the amenities:

As mentioned earlier most co-working spaces provide basic office amenities like high-speed WiFi, desks, chairs, meeting rooms, coffee machines, water dispensers, washrooms, etc. However, it is always good to be informed about the upper limit of the user or a certain limit.

In some shared spaces they provide fixed working hours, therefore it is important to check whether your working hours align with the facilities and flexibility it can offer you. It is important to clear all the ‘ifs’ and ‘buts’ before confirming the deal which will help you in the future. Before taking the final decision, be careful and think twice about the services that you will be using and the money you are going to end up spending.

Be cognizant of the commute :

Nothing is more annoying and tiring than being stuck in traffic especially while reaching your office for work. As most of the coworking spaces are located at prime locations, commercial areas, cities, being aware of the time spent traveling during both peak and off-peak hours is crucial.

Not only you but your employees are also going to face daily delay problems due to this which may affect your company working style. Look after and inquire with the coworking space about other locations around the same city or location that you and your employees might be able to use save time. Therefore, make sure that the co-working space you select consumes time, resulting in a higher efficient workday.

Relates Post: Key Factors to consider while considering commercial space for rent.

The other occupants :

The concept of coworking itself is that you will be sharing and using space with other people so, before the deal, it is necessary to know the other occupants. The people you are going to share the space must go hand in hand with yours.

For example, if your company is a real estate or technical company which needs quite a working environment cannot co-work with a musical company or an entertainment production company which has a loud environment. Therefore, getting to know your occupants is extremely necessary.

Myrsa helps businesses, service providers, entrepreneurs, retailers, brands, event managers or start-ups to find the temporary space to co-work which they need to test, sell, serve and grow.

June 18, 2019 0

A Complete Guide On How To Open A Food Truck In India

Food truck business has been flourishing in India and has been gaining popularity as a concept. Previously the main focus was in CBD(Central Business District) areas of the metropolitan cities like Mumbai, Bangalore, Chennai, Kolkata, Delhi, and NCR.
Here we will take you through everything you need to know about starting a food truck in India.

Let’s start with these things:

1.Vehicle

The most important part of the business is a truck. Initially, you can start with a second-hand food truck and the vehicle running would be a bare minimum. At a later stage, you may invest in a new one. It might cost approximately 4-5 lakhs when buying a food truck.

2.Equipment and Raw Material

Next most important investment required is in essential kitchen equipment though it is a one-time investment for your truck. Essential types of equipment may include oven or stove, utensils, cookware, cutlery and few appliances like fridge, chimney, etc. When all the equipment put collectively would require an investment of around INR 2 lakhs. You will require an inventory stock of ingredients or raw materials to prepare the meals. That might cost you around INR 20-30K initially.

4.Staff Recruitment and Marketing

You will require to pick a few employees to manage and handle the daily operations of your food business. Fortunately, in India, expenses of using a support staff are not that huge. You can consider keeping aside around 13-15K per month per person.

Like any other store, sales will grow only if you are advertising and promoting your food business the proper and right way. Marketing would involve both offline and online publicity and can require you to spend a lot of money. You should keep at least 20k aside for the marketing of your business. Over and above your everyday operations, you should consider establishing a few tie-ups and cater to events, corporate festivals and more, such activities act as a marketing strategy.

5.Licenses and Permissions

Like any other restaurant, even food truck requires all the valid consents and licenses as per the government norms. Nowadays illegal food stalls or food truck running with permits and licenses are have been banned or eradicated from various cities. Licenses that are compulsory to run a food truck are as follows:

FSSAI License

Any food business including food trucks with gross revenue of more than Rs.12 lakh in India needs to have the FSSAI license.

NOC from Fire Authority

As food trucks deal with a lot of gas appliances, having a NOC that is the No Objection Certificate from the Chief Fire Officer is obligatory.

Permission letter from the local municipal body

When you will zero in on a location for your business premises, you would need to get a written document, stamped by the local municipal body to start setting up.

Vehicle license

A vehicle license as per the RTO of commercial vehicles is just as you will be operating out of a commercial vehicle, a license for the same must be issued by the RTO of commercial vehicles.

7.Location

Your food truck will manage well only if the location is good. So while selecting the location Keep the following factors in mind while deciding to find spaces for food truck parking

Vehicle Parking

A truck would require a sizable volume of open space or parking spaces for rent. Also, you need to assure that you are authorized to park a vehicle in a precise area. You could check up with the confined municipal authorities about this.

Visibility

You should determine an area which is often visited by people. Select areas that might be outside or close to popular parks, movie halls, and universities. The is a tendency of the food business to flourish in such areas. For E.g These days food truck business is flourishing Central Business Districts, especially during Lunch hours.

8.Health and Hygiene

Food trucks usually work in very small areas. Owners must be very careful of kitchen hygiene, air pollution levels, and food waste management. Checklist related to health and hygiene are as follows:

Perform the use of chimneys to check air pollution.
Keep a check on the food waste twice a day and maintain a clean cooking area.
Assure that your team or staff members keep good sanitation.
Put a few dustbins near the food truck.

9.Brand Creation

A restaurant is as great as how it clicks with people. People love connecting with unique stories. Try to connect your brand with a unique story. Consider the following points to build a strong brand.

Finalize a target audience
Do competitor research:
Finalize a name
Finalize a logo and a theme

10.Adopt Latest Technological Trends

These days digital marketing has been playing a very crucial role in the success of any business. The reason being is people are now becoming more techno-savvy and are using apps, websites to order food or research any food brand or restaurant before visiting. People order as per the reviews, coupons codes, discounts, and offers.

So good marketing and promotions will determine the success of your business. Following this in mind, we will point out some ways you could promote your food truck, both online and offline.

Have your own website and app.
Tie up with online food ordering aggregators like Swiggy and Zomato. Here’s the complete guide to getting you started.
Develop a powerful Social Media presence.
Run online advertisements.

Myrsa is a portal which caters to businesses looking for temporary space on rent for food trucks and allows the host who would like to list vacant space for rent to earn extra income.

June 11, 2019 1

Essentials to Open a Dance Studio

When you dance, your purpose is not to get to a certain place on the floor, it is to enjoy each step along the way – Wayne Dyer

Dance has foremost importance all over the world. People love to participate, watch or explore dance as an emotion, especially in India it has said to have origins from the period of Vedas, which is dated around 1000 B.C. Also in Hindu Mythology, it has great importance, a dance by Shiva which is well known as Tandav destroys or creates the universe. It is a feeling or an emotion that can be expressed by humans and that is how different dance forms are created.

Today it has taken a totally different turn, it is recognized as a business, competition, a way to your fitness. The Bollywood dance form has encouraged mankind everywhere in the world to be a part of the joy, celebration on totally another level. A sense of unity is found in it, it can be a way to provide physical as well as mental refreshment and relaxation. It can be a great mode of exercise, motivation, inspiration. Through dance, a bond is shared even between strangers.

Opening a dance studio or a dance academy is the top best business opportunity. If you are thinking of opening a dance academy, this blog is going be very useful to you. Here are some important head points to be considered while opening a dance studio or an academy.

Renting studio

Renting a business space provides more flexibility to the business as it grows, flourishes. Buying a studio can be a big commitment and we have to carefully consider, renting a studio is a better option. While starting a new business you have no idea about the future, so at first, we have to take baby steps while opening a dance studio. By renting a dance studio you are not locked into property ownership as well as you can adjust your requirements with your landlord.

In emergencies you can end your lease or in case you are going to relocate. Renting also helps you in space negotiation and lets you enjoy financial benefits. You can find your desired space for business on any online property platform. Myrsa is one of the online platforms where you can find perfect desired studios for your dance classes. It helps you to find spaces for temporary uses, connect with different brands and discover locations to grow your business.

Find a Good Mentor

Find someone who you respect and look up to to the mentor for your dance studio. It is not necessary that you have to find someone you can your self be a mentor if you are known to a dance form and are confident enough to teach your students. Today social media has been a great help in situations like these where you can connect with talented people. There can be numerous dance professionals around you who can help you by being your mentor. Attractive social media posts about your dance studios can assist you to connect to dancers.

Have a Plan

It is a crucial part of every startup, be it a commercial business or a dance studio. you have to prepare a plan about your working, your placements of the studio. It will be extremely helpful for you if you already have a group of people who are ready to take a class there. Always remember we are living in an era that is ruled by social media, so do not hesitate to make profiles on various sites and build networks. This way when you are all prepared and ready to launch, you already have a supportive audience. It is also important to look after space and planning all your operations, where your music system will be placed, your office room, changing rooms, restrooms everything must be considered while planning.

Entertainment and Relaxation

As said earlier dance is an emotion, it an expression which is expressed by mankind. People enjoy dance, participate in it as a part of entertainment and relaxation. Providing entertainment and relaxation only to your dance studio should not be your only goal. There are people out there which are not connected to you but can be your audience. Create a Youtube channel and post your dance studio workouts to create excitement and popularity around. This way your reach will be enhanced which will result in more gains for you.

Don’t let your stress get the best of you

Following your dreams can sometimes give you a hard time of your life. It makes you crabby and difficult to be around, which is caused by stress. But always remember, to never be unpleasant with the people with whom you are doing business. People you hired are working to make your dream a reality and running to make it a success. You should always be a person, easy to talk, to communicate without any hesitation. This will make your business work smoothly and with great performance. Your own attitude and ego are your enemies in your business, keeping your mind calm and working accordingly is beneficial. Always remember why you wanted to start this business in the first place, stay motivated and achieve all your targets.

June 4, 2019 0