How has the Digital Era impacted the Real Estate Industry

Computer screens, tablets, smartwatches, smartphones, and our daily lives are infiltrated by technology. From the moment we wake up in the morning to the moment we go to bed at night, technology has been around us all day. With the advent of technology in every field, the real estate sector has also been impacted by such a revolution globally. Managing multiple properties in a traditional and conventional way by maintaining books of accounts have been a thing of past.

Digital transformation has been playing a crucial role in helping seamlessly connect anyone who wants to complete a real estate transaction.

Let us understand the benefits of digital transformation on the real estate sector

Real estate sector is built upon the trust and relationship and digital transformation has been playing a key role to build such trust as it had become easy to connect to the industry experts, develop long term association resulting into capitalization of such opportunities.

1.Interactive online Applications

Virtual Reality(VR) and Augmented Reality enable for comprehensive viewing and experiences in yet-to-be-built projects will help in the inspection of properties giving real-time data to the clients. Specially VR is fast growing a robust and powerful mechanism that lets likely buyers virtually tour properties from distance which means the location of the property at one place and client at other, allowing them to experience the space without the necessity for inspecting, appointments or model homes. This technology can be a time saver and reduce presale marketing costs, and experts anticipate a steady rise in its use in the industry.

2.Real Estate Portals

Traditionally real estate buying and selling have been done with the help of personal recommendations. But that was practical when the buying and seller and the property were closely located. But when the buyer and the property are in different state or country then this strategy of recommendations is ineffective. So with digital transformation, such problems were solved with the introduction of online real estate portals, bridging the gap between buyer and seller. The Seller is able to list the property for sale and buyer and search property according to their requirements. Also these days you are also given an option of temporary space for rent listing to capitalize the vacant space.

3.Autonomous Vehicles Parking

Autonomous or independent or automatic vehicles parking with the help of Artificial Intelligence(AI) will bring major advances to everything and are “closer than people may think.” Many commercial buildings have started adopting such facilities to ease parking congestion. Even before they hit the market in a significant way, they are influencing how developers believe regarding parking areas in new residential and commercial buildings. Such a system is not time-consuming, reduces manual task.

4.Property Management Softwares

Investing in an apt property management software elevates and rethinks how realtors or landlords manage their vast list of properties. Whether small modular condos, high rises or dedicated commercial hubs, property management using software takes it to the next level. The need to switch becomes more prominent as conventional methods have often failed to demonstrate exemplary levels of property management.

Software alters it into a convenient dashboard, where the owner could simply manage, monitor and operate day to day activities linked to a piece of real estate. Ensuring timely rental payment, maintenance, and upkeep, searching tenants for occupying could all be effectively carried out using property management software. The key is to opt for the right one since the wrong choice would end up curtailing existing practices by cutting out efficiency.

So to conclude we may say that Technology is evolving more than just the end product—it’s also remodeling the leasing and sales method. Sellers are listing spaces for rent or sale and also for temporary renting helping them earn maximum from their asset. Also, the procedures are such that they are in compliance with the rules and regulations of the respective countries. Buyers are utilizing online tools to do their own research and analysis long before they arrive at the actual property for inspection.

May 28, 2019 0

Learn how startups benefit from Flexible Office Spaces For Rent

The traditional way of working seems to be fading away now. The changing times lead to changing attitudes and to live up to these flexible workspaces are taking the lead in the changing lifestyle. Having a flexible office space for rent has opened up various possibilities of the businesses of all sizes to make working in impressive spaces their reality. Affording these spaces has also become easier which was previously unavailable.

Nonetheless, the office landscape is continuously evolving and also for the better, with these flexible office spaces improving productivity and work satisfaction. Business loot at this as the most advantageous options including these reasons and many others. However, these seem to be a tricky and complicated option for businesses that are just starting out in the work culture and also possibly unattainable. So we wanted to look at how small businesses can actually facilitate growth by using flexible workspaces.

1. Increase Productivity

Anyone who is starting out with their business, who is planning to turn their hobby into full-time work is likely to set up their process at home. Of course, home working can save you money but it can have its own set s of drawbacks in the long run. People often find it difficult to focus when they have to not even get out of their pyjamas.

Moving to a flexible office space option can be refreshing and even exciting to work. It’s difficult to disassociate your home with a sense of rest and comfort, whereas a new workspace will bring you more concentration and the determination to work. Two major problems of working at home can be the ability to focus and isolation, which can, in turn, destroy your focus. However, when you have a flexible workspace you will meet new entrepreneurs and like-minded people who will be willing to work with as much motivation and the go-getters. You can avoid your homely distractions over here.

Flexible workspaces turn out to be the most affordable option for startups. Even workspaces that are for a few hours are on a huge demand right now. They can energise the attitude and can make more productive work. This one day of focused and productive work can be something that could take your business to the next level.

2. Improve Networking

Flexible workspaces always are brimming with like-minded people, entrepreneurs spirit and exciting new businesses. Working from home can shut you off to many new business opportunities. Coworking spaces can be a great way to act as small business hubs. Those who can find great spaces will be around new and buzzing businesses that can help in the long run and keep you motivated.

Flexible workspaces are built to facilitate community and collaboration. For many businesses, building networks can be somewhat daunting, but flexible workspaces can help in this. Whether it is a small office space, a small desk or a space in communal areas it can still be helpful in creating valuable relations when you work in a flexible workspace as natural interactions are far more likely to happen.

Creating good business relationships can be valuable for small businesses. From building client lists to recruiting new talents to find companies who can assist you; finding new collaborators the advantages of networking are endless. Working alone at home can make building networks lot harder. If networking can help in the growth of business and flexible offices can help in making more networks, then it is a good option for small businesses to move into one.

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

3. Improve team morale

Working from home or alone can soon become isolating for many people. Although staying away from daily commuting and office politics can sound like a dream to many people, but we are social creatures and we need to have interactions and go somewhere each day. Flexible offices can be the perfect choices for these problems. Even if you rent an office space for a week the advantages will be massive. Not only will you get a break from the isolation but spending the time in a friendly and functional environment it most likely to create high spirits in you.

People complain about the lack of sunlight and office tensions as moral killers in tradition office. Flexible office spaces can be the solution to these problems for small businesses. These kinds of offices have different designs and turn out to be having big windows, beautiful decor, plants loads of natural lights which can be a good option for people to go to work.

Employee and Employers satisfaction is important for business growth, especially for small businesses, who will fail without the will to succeed. It the person who is running the business is himself not happy to work for the product, then how is anyone else going to get excited about it. Working in a flexible office can have immediate effects on the morale thereby affecting business growth.

4. You Get Professional Services

Flexible workspaces can be the reason for growth for many businesses. They do care about the member’s success. In the traditional leased office, the members are given keys to the office. But in big offices, you can get additional services along with the space that is provided. Professional services like IT support, receptionists, admin staff can be of additional benefits in flexible workspaces. They can not only make your business look professional but also give you the authenticity a business needs. You can perform so much more tasks and also save your money on them. All these combined can turn out to be the best ways for your business to succeed.

5. Reduce your costs

When a small business decides to rent a leased office then they end up signing a contract for 3 to 10 years. This can some times be a financial risk for the small business that decides to follow the contract. They are highly inflexible and that leads to problems in companies growth. When a small business can plan to expand but then end up paying rent for a considerably small space. You can clearly avoid this risk when you choose a flexible office space.

This can help in financial risk, but there are many other ways that can save money for these businesses. By renting just a desk you have to pay rent for the space that you need rather than paying rent for the whole office as is the case with a leased office. The bill you play is always inclusive. You never have to worry about maintenance call out costs. And you don’t even need to buy new furniture. Everything comes with space. Sometimes there are hidden costs in the leased office. The flexible workspace doesn’t have any of them.

One of the main reasons that startups fail is because of the insufficient cash flow. So using flexible workspaces can be affordable and risk-free options for small business to prosper.

Myrsa is a platform that provides you with office space for rent on a temporary basis. You can different office spaces from a desk to a conference room and that too for a few hours! Start your business now with the ideal spaces.

May 21, 2019 0

Key Factors to Consider While Choosing a Commercial Space for Rent

You have extensively prepared a thorough blueprint of your business plans and now is the time to execute them. The initial requirement to conduct your day to day operations is a commercial space for rent. More and more businesses are now opting for rental spaces to avoid blocking their capital. This leaves them with more funds that can be allocated to other requirements. The space that you finalize can make or break your business. There are a number of things to be taken into consideration while deciding on a space but these five factors play a pivotal role.

Price

Everything that your business does depends upon the budget that you set aside for it. Spaces at prime locations are costlier than the ones that have lower accessibility. It is important to strike the right balance between the things you expect from a space and the price you pay for it.

If you are a start-up, it is recommended to opt for properties that have a mid or low price range until your business is up and running. On the contrary, established businesses can look for high range spaces. It is also essential to consider the facilities like electricity, cleaning, water etc. that would be included in the rent of the property.

Location

You should narrow down on your choice of spaces based on the type of business that you run. If you are a business that expects a significant number of walk-ins like a salon or a doctor’s clinic, it is best advised to go for a location that is situated on the ground floor. If most of your work is online and it requires your employees to do a desk job, search for a property with enough space to accommodate all the infrastructure that you will need.

The kind of businesses around your property is also of utmost importance.

Is there a coffee shop around?
Can your employees blow off some steam after a long day at work?
Is the neighbourhood of the rental property safe and not secluded?

Taking all these factors into consideration is necessary while looking for a suitable location for your business.

Accessibility

A rented space for your business is an investment that, if done right, can yield great profits. Shelling out some extra bucks for an accessible commercial space will prove to be beneficial. Always place the convenience of your resources over yourself. Ask the following questions while searching for a good property:

Is the space well connected by transport?
Can my clients and employees locate my business without difficulty?
Is parking available at the property?
Can the property be accessed by people with physical disabilities?

If the answer to these questions is “Yes”, pat yourself on the back. You have got yourself a great deal.

Ambience

Happy employees and clients are an asset to your business and a way to achieve that is to ensure you can sustain a good ambience at your rented property. Make certain that the space you choose is ventilated, neat and tidy, well-lit and quiet.

You can enhance the vibe of the space by adding comfortable sofas, potted plants and posters that are in tune with the line of business you operate in. All these factors affect the perception of your employees and clients. Failing to maintain a good ambience will result in a fall in productivity of your employees. Modern interiors and vibrantly-coloured wall are additional factors that complement the appearance of the property.

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

Services and facilities

To get your business up and running, it is crucial that you have all the infrastructure and facilities you need to get the work done. The quality of the service that you receive is also crucial. There should be an uninterrupted flow of business once the space is rented. Some of the details to be considered are:

Does the owner assure the security of the space?
Does the location have a dedicated postal address?
Is there a well-connected computer network?
Are there proper utilities like air conditioning, electricity points and CCTV surveillance?

Not being able to provide these to your employees will increase your employee turnover and result in significant losses.

Time Period

The rental period for each space would be different. It can start off with just a few hours to a few days and goes up to a month. The short term renting business is on a rise right now. It creates a lasting impression on the customers and many brands use it for their promotion. When we talk about renting for a few hours it covers all the businesses that may use kiosk spaces and also a weekend classroom space. If you want to set up a popup business it can go up to a week. Simultaneously when you are wanting to just test the markets you can even use a commercial space for rent for a month. It all depends on the type of business and the business goals that you want to achieve.

Be wary of the pitfalls that might accompany the commercial space that you rent. A thorough check of all the factors that impact the functioning of your business is vital. Keeping your search for a property as a priority should be of primary concern when setting up your business.

Wouldn’t it be really helpful if you had some kind of assistance to search for such commercial spaces that were for rent? Perhaps a website that lists a variety of properties for you to choose from? Well, look no further because we have a perfect way out. Myrsa offers a temporary renting solution to brands, businesses, service providers, retailers & professionals looking out for space to grow their business and connects them with space owners. With Myrsa, you can significantly cut down on time required to search for a property and focus more on the functioning of the business. So what are you waiting for? Go on to Myrsa’s website and sign up now to get quick, reliable solutions!

May 14, 2019 0

Event Venue – Problems Faced by the Event Organizers

Most event planners until now have been choosing a city based on reputation, and then select an event venue that is from major hotels to satisfy their venue requirements.

With more and more offsite venues providing with an offbeat experience for events, it may be time to rethink your routine. Why not consider what different venues the city has to offer before landing on a destination of your choice?

Think outside the box. Nowadays so many offbeat venues are providing such great experiences. Do you know that events venue can play a pivotal role in attracting attendees? If you want your attendees to leave the venue with lasting experience then you must pick a venue with a dash of fun.

Planning an event :

It is Very crucial for an event organiser to make the event most memorable for the client as well as the audience. An event organiser has to be on his toes all the time to execute an event successfully. Planning an Event can be a demanding job to carry out. It includes the whole working of the event- Organizing, Costing, Canvassing, Customising, executing, basically everything. Finding a Location for the event can also be a tedious task faced by the organiser.

An Event organiser can’t keep buying properties for every new event. Every event is different and the needs for each of them differ vastly. How amazing will it be if you could find temporary event spaces for rent? Myrsa will help you in finding unique event places in different locations. Suppose you want an Open Garden Event Space on rent you just need to go on to Myrsa and search for a similar space in your preferred location. It’s as easy as booking a hotel!

Related Post: 5 Tips For Your Fashion Popup Store

Keeping Track of the Event Process:

All these events and you are juggling between the locations of these events. It would be fun if you could manage them all in one place. Keeping track of your event process becomes an important part of the event process. An Event is customized according to the client’s demand or needs. Clients are a prime place in the working. Everything must be carried according to their desire. Also, their desired order is to provide them with a prime place. Clients Demand a specific order or a process in which exactly the event must be executed. Keeping the tracks of the events can be a hassle for the organiser. Let’s take an example of an open Garden space event, Multiple activities are carried out Food, Drinks, Games, Dance, Singing, Audience etc.

Finding A Perfect Venue For the Event:

A contemporary place which is absolutely perfect to carry out events can be utilised. Event organisers find temporary event spaces for organising events. Open Garden Event Space on Rental can be a great way for you to execute the event in a unique place. You can List your Space on Myrsa and event organisers in need for places will find your place and contact you directly. Many Events like Garden Events, Open Flea Markets events are more in demand which can be organised at rental places with help of Myrsa. Many Creative, Productive activities can be performed on unutilized places. Event Venues Plays an Important role in any event to be a hit.

Types Of Events Organized on Unique Places:

Events are planned and organized social gatherings which are executed by the organiser. Events are non-identical, absolutely different. Events can be of various types which are been carried out all over the world. Event organiser struggles to carry out all of it due to their particular arrangements also differ a lot.

When it is Party Mood first thing that comes in everyone’s mind are Clubhouses with great space to twirl around. Clubhouses are one of the best venues for parties as they are one of the comfortable spaces. Clubhouses are the best choice for entertainment purposes and also inviting a big crowd of parties.
Award Functions should be carried on open ground that is a standard though. As seen so many years when we witness an award function all we can see is a huge stage for performances, big lights and sound a huge open area for audiences, backstage and many more. On Small scale award, Function can be organised in a Parking Lot etc.

Coming to the most awaited topics in events are Weddings, especially Indian weddings. An Indian wedding involves a lot of rituals & traditions according to every religion, cultures. Most weddings are in halls or lawns but there can be some rituals which have to be carried out outdoors.
Photoshoots have become one of the most attractive and demanding desires for clients. Even it is said to be a crucial part of the wedding process. Wedding photoshoots have become a thing these days. Bride and grooms choose various locations to do a photoshoot. Mostly they are carried out in Open Gardens, Mansions, Clubhouses, Swimming pools.

Now that you know the different ways you can easily carry out your events in a new location every time. Turn your customer’s wishes into reality. Go on to Myrsa and start finding spaces.

Stay tuned for more blogs to know all the unique spaces you can use to host an event!

May 8, 2019 0

5 Tips For Your Fashion Popup Store

You have planned for your fashion pop-up store to be a hit but you need to be sure before opening it. Know all the points that are said to be important by the experts to create your fashion popup into a success.

The Right Reason

Now you are a new fashion brand that has been started to be recognized as a successful brand in the market- it may be first or second, you need to be sure about the reason you are planning to go offline with your popup shop and set all your purposes right. Everything that comes after that will define whether you want to be placed in a high street area or a mall.

Is it to engage your customers offline?
Are you looking to explore a different city or a new market?
Do you want more brand awareness?
Do you have an upcoming collection to be shown?

Mainly these points complement each other. But there must be one point that will stand out from the others, which then becomes the main goal for your business when it comes time to bring it front and promote it.

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

The Perfect Timing

Once you define your reason, why you want to create a fashion pop-up store, you need to define when and for how long you want to keep the store open.

Knowing the right time to open up a popup store adds to your success. You need to study the dates when your target audience will be at the place that you are aiming for so that they don’t miss your store.

Some important factors to consider are:

Fashion week agenda
Other events that are complementary
Festive seasons
Start of the season
End of the season

To decide about the about of time your popup store on rent should last, I would say it truly depends on the type of experience you want to deliver to your customers. Short term popup stores create an impactful perspective and thus building great customer experience for your brand.

Popup shops that last for more than a week are those that want to a part of the market in a daily way. These pop-up shops then become a go-to destination for the customers because they create certain reliability over time. These long popup stores then go on to become a permanent shop in that area.

The common ground between these two is that they work incredibly well for your brand as a case study.

The Perfect Location

As Important as timing is for your popup store, finding the right pop up shop space that is planned by your budget and as your brand’s identity is equally important. So where do the people who follow your brand’s style go to?

You must have a clear customer persona to get this right. Do they go out to the mall shops or do they go out to outside areas?

Websites like Myrsa help you find unique spaces for your popup shops. Decide the type of space you want from small to big and also specify the time of your shop. Find your ideal popup shop spaces on Myrsa. Once you have this clear you can then start to find the different types of popup locations that are within your price range and your decided area.

These are the various types of pop-up stores:

Mall shops
Stores or street-level shops and retail spaces
Mall booths or stands or exhibition stalls

The essentials that your popup store must have are:

fitting rooms
storage space
storefront for display
bathrooms / restrooms
security cameras to prevent theft
proper lighting system
parking close by
accessibility by public transit
street entrance

If the choice you made is in a shopping mall then make sure to know about the opening and closing time of the store.

The Perfect Store Layout

Now that your idea, timing and location are set, the next thing is to plan your layout. The best layout for your fashion popup will be the one that will create a different or experiential experience for the customer. And the layout is a complementary work between the location and design.

Some basic things to place depending on the spot chosen are:

brand or logo for your storefront
lighting fixtures
Mirrors inside
wifi connection
wardrobes, clothing stands, shelves and hangers
cashier system for the POS
stoppers and signs for outside

You should keep in mind that the inside store should match with the outside of the store to match your brand story. If you want to attract new customers then create an inviting atmosphere for both inside and outside your store.

Promote your Pop-Up Store

Create a lot of awareness about the store you are going to open. Let everyone know about where and when you are about to open your open popup.

A few important tasks to carry on are:

make sure to promote it on Facebook by creating an event
promote it on Instagram accounts
contact all the influencers and newspapers
make offers that can attract customers
set up an opening and closing event for your pop-up store

It is time to get your pop-up fashion idea going! Our team will gladly support you with every step of the way, by finding the pop-up location you were envisioning and creating an incredible fashion pop-up shop that both your customer and yourself will relish.

April 23, 2019 0

Little Known Ways To Make The Most Out Of Renting Food Court Spaces

Retail chains are closing at a high pace, and empty spaces in malls are piling up. While many businesses are closing down, mall owners are now looking for new ways to fill up these empty spaces. Now, if malls want to remain viable then owners have to turn to other ways to keep their open spaces running. This has now started to happen and malls are now planning to relook at the ways they can earn money. This has led to a transformation in the way of renting out mall spaces.

Kiosks and Popup shops turn out to be the best way for malls during the holiday season, but now it has turned into a more often happening.

If you have been thinking to take your business offline but have always been putting the idea off because of the cost and commitment, kiosk or pop-up shop could be the solution.

A popup is a way for business to easily manage their activities because it is of all sizes and budgets to test waters before getting into the market.

Having a physical space can help you meet customers in real life and put your brand story in front of them. It is a direct way to encourage sales and despite the rapid growth in the online sector only a small amount of people think they are safe buying online.

In this blog, you are going to learn about how empty food court space for rent can help you in your business. How to find unique spaces for rent like these and how you can increase your reach with food court space for rent.

Food court spaces are one of the spaces in malls that have the most ongoing activity. You might never see a food court that is not filled with a group of people. Everyone who goes to the mall makes sure that they attend the food court to fulfil their hunger. Now wouldn’t it be wonderful if you could get a small food court space to promote your business brand?

How will you find such spaces?

You might think that for this you might need to email the manager to take an appointment go up to him and then have a proper meeting about a small space. This is a very long process for showcasing your brand for a short period of time.

Thanks to the internet, online platforms like Myrsa.in provide you with unique spaces. You can find food court spaces for rent on a short term rental basis on Myrsa. Rent starts to form a few hours in a day to a few days.

You just have to look at all the spaces that are ready to rent and that too according to your suitable timings. If you want to find such spaces you can even send requests to certain businesses to provide you with such spaces. Everything will be online so you don’t have to waste your time. The temporary renting programme makes is a part why everyone would prefer to choose this.

How can this help you?

Setting up a pop-up shop or a kiosk in these areas is a win-win situation in every aspect for you. Cost reduction and also increment in profit or exposure of the brand name, brand awareness etc. Popup shops are sure to generate you a lot of ROI. In the sense that it costs low.

Even kiosks are a small space taker but can make a huge impact on businesses. Suppose you have a new food brand or even a new food product, you can then set up a small kiosk in the food court area.

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

A proper marketing plan will get you a lot of new customers and satisfied customers. This can also help in improving the word of mouth awareness. Providing free stuff to people also when they are hungry can be a good way to turn their hangry mood to a happy mood. This will make them relate you to the feeling of happiness.

Online brands who plan to increase their brands offline should start by testing out the markets by placing small stalls. This is a great way for you to look out at the perfect market to put up your physical store.

Brands who would like to expand their businesses can find out which markets would be ideal for them. Myrsa will help you to find spaces on a short term basis. This will assist you with the analytics.

One significant consideration is foot traffic. Is the neighbourhood or street you’re analysing a high-traffic area? Are there loads of people walking by the location you’re scouting—and, most importantly, are those people your target customers? Your answer to this would be a YES if you are looking for food court cafeteria space for rent.

Go on and find short term spaces for your businesses!

April 18, 2019 0

Start your own hassle-free popup shop!

The Pop-Up store concept rose first when the big brands started seeing a lot of competition from the newly emerging brands.

When huge brands didn’t promote in the countryside, new brands began to see an opportunity and targeted those markets. In order to succeed these problems, big brands started pop-up shops or short term retail shops to attract specifically targeted audience.

Related Post: Why Is The Popup Retail Trend Better?

The Definition: What are Pop Up Shops?

Pop-Up Shops also are known as Temporary Retail or Flash Retail are short term shops that sell merchandise. Pop-Up shops are typically open anywhere and duration can be from 1 day to a couple of months.

Pop-Up shops are used to market pretty much anything. This can be Clothing, Jewellery, Art, Crafts, Tech Gadgets, Food or anything you are selling.

The Concept: Why Pop Up shops in India?

Although there are many notions of short term rentals in India, we have just observed them in play for marketing campaigns or sales. In this age of going digital with everything, a lot of brands have started selling their products on e-commerce stores and online marketplaces. But a common problem that every such Brand is suffering today is getting the right attention from the right audience.

A brand is a purpose behind your company’s name, logo, symbols, products and slogans. Having a unique presence in the target market helps you build brand awareness and create a long-term position in the marketplace.

Related Post: Co retailing helping with spaces for a pop-up shop on rent

So, let’s rest our case and see the benefits of doing so in a densely populated country like India.

1. Affordability:

Because pop-up shops are temporary in nature also smaller in size than traditional retail stores, the price of rent is usually cheaper.

2. Short term commitment:

Rather being locked into a long-term rental negotiation, the brand is only committed for a fixed period of time, which means it can adapt to changes in its business and marketing plans.

3. Brings in Attention:

People are interested in the sudden existence of a store, especially if they look unique — for instance, retail shops or exhibitions.

4. Testing & Experimentation:

Test your Mark on the go! You can test marketing brand-new products and measure the response, from which you can develop the ways of serving your customers.

5. Brand Awareness:

Greatest of all, when you reach out to people personally, you will be supporting yourself and the brand. This will cause a kind of security and assurance in every customer, which will help in branding.

The biggest advantage of pop-up stores is their potential to grow into permanent local businesses by establishing the presence of your Brand. Pop Up Stores come and go along the road, but the point is bringing energy and serving or getting customers.

Utilizing a vacant retail space for your pop-up shop on rent is about more than having a physical storefront; it’s about joining and participating in the local community, if only for a short amount of time. To be successful, it is not enough to merely open the doors. Your pop-up shop should appeal and tailor its message to the tastes of the community where it is located. That means doing your research and taking action before you move into space.

1. Get to know the neighbourhood:

Prior to opening, visit the other stores, restaurants and coffee shops in the area. Consider introducing yourself to the owners, this builds rapport and potential support network. Between browsing the other stores and talking with the owners, you can gain a better sense of what people in the community desire.

2. Be on the lookout for fliers advertising local events:

Especially during the spring and summer, communities have festivals and outdoor fairs that are open to the general public. You can use these events to learn more about the community and you may be able to sell your goods in an environment where there would be a lot of potential customers.

3. Reach out to the local media:

This used to be limited to getting the local paper to write about your pop-up shop. Now there are blogs, community-centric e-newspapers, email listservs, and other online resources that allow you to reach specific segments of the community that might be interested in your pop-up store.

4. Remember to stay true to your brand:

While it’s important to market yourself to the community, you do not want to surrender your identity and personality either. Before opening, identify the key characteristics of your products that make them unique and be sure to accentuate those details in your space. When possible, figure out ways to demonstrate how your products’ traits appeal to the neighbourhood’s tastes.

Now, to find spaces for your popup brands there are many online websites that are of convenience for you. Myrsa is one such short term renting platform where you can find spaces for your popup shops. From smalls shops to huge spaces, you can decide according to your budget and location which will be the ideal space for you. If you want to find advertising spaces for your popup shops, you can even search for them here. Visit the website to learn more and find temporary spaces for your businesses

April 1, 2019 0

How to find your ideal Cafeteria space for rent?

Discovering a prominent location for a new cafeteria offers many challenges. Is it a reasonable size? Is there sufficient traffic? Can you afford it? What is the owner like? Does the location have a record of failed cafeterias?

Here are tips to help you find just the proper place for your new cafe.

Do Your Restaurant Market Research

Before you even begin looking at any kind of restaurant space to rent, firstly do your homework: is it the perfect area to open a new restaurant? Knowing who your possible customers are and where they reside will assist you to tailor your restaurant idea accordingly. Conducting market research for a new restaurant, because it can inform you of the income range of a possible restaurant location. Will there be adequate people, with fairly expendable income, to contribute money at your new restaurant? If the response is no, then move on to a different location.

Be Flexible When Looking at Restaurant Spaces

Restaurant spaces appear in all shapes and sizes, from teeny little hole-in-the-walls to big sprawling cafeterias. You apparently already have a genuine idea of the type of restaurant you desire to open, and what it will look like indoors. Nevertheless, the perfect space may not, at initial glance, be what you envisioned. So be prepared to redesign the restaurant in your head to fit a vast space. Bear in mind, more often than not great restaurants don’t make a location, a location makes great restaurants.

Do a Landlord/Location Background Check

Once you’ve picked a cafeteria space, discover as much as you can about your possible new landlord. If there are other businesses in a similar location, ask different business owners if the landlord is easy to operate with and if he addresses obstacles quickly. You can moreover ask about the pros and cons of the location, as well as their opinions on a new restaurant going into the building. Of course, take everything other renters say with a grain of salt. If they believe a restaurant is a fantastic idea, learn, it’s their opinion, not an actual fact.

Know Your Budget

You may discover the perfect place to open a new restaurant, however, if the rent is out of your budget, don’t get extremely attached. Just like you wouldn’t rent an apartment you couldn’t afford, the equivalent is true of renting a restaurant space. The initial years of a new restaurant are normally pretty tight, financially so over-extending your budget before you are even open isn’t a good idea. However do in keep in mind that restaurant rent can be negotiable, which guides us to…

Don’t Be Afraid to Haggle

Possibilities are your proposed landlord doesn’t want his or her prime real estate vacant for long and may be ready to haggle at the cost of rent. General rent negotiations for a new restaurant involve not paying rent at all until the restaurant opens for business, pro-rating rent. You may spend a very low rent the first year of the lease, then slowly raise it each year thereafter.

Know What’s Included With Rent

Is heat, water, electricity covered in rent? What about garbage removal, building repairs, and general maintenance. Your cafeteria rent should specify specifically what expenses your owner will cover, including any required renovations, and what expenses your restaurant (that means you) will be responsible for paying.

Related Post: Why Is The Popup Retail Trend Better?

Have an Exit Plan

How long is your restaurant lease for? Two years? (good) Five years? (hmmm) Ten years? (run away). Before that, there are also shorter options for you. From a few hours to a few days or a week. You can have your restaurant set up and try if it is the perfect location for you. Myrsa is an online platform that provides you with different locations for short term renting of your restaurant. Test different markets and then choose the one that is perfect for you before investing so much on your rent. You can find your ideal cafeteria space on rent on this platform.

No one desires to think concerning their restaurant closing, at least not before they are even open, but the fact is, a majority of new restaurants stop within an initial couple of years. So, if for nothing else but for the calm of mind, keep your lease as small as possible. If things are going along smoothly after year two or three, then sign on for a longer lease.

March 26, 2019 0

How short term rentals are taking over the market!

As the technology changes so do the beliefs of the people and businesses. Current technology is fast and wants to cover a large kind of audience. This transformation has caught the eyes of new businesses everywhere. Whether you are a traveller, a businessman, a landowner or a homeowner you would have noticed that everyone is travelling at a swift pace right now. This has led to the emergence of short term rentals. This has also led to a change in how people generate income and how they will, for future prospects, invest in their businesses.

From the retail industry to real estate, experience has become the most significant part of any business to provide. In search of new experience, travellers have been emerging and adding to market growth. This has led to the growth of the economy in double the rate. As more and more travellers are rising the food and beverage industry has also been growing a lot. Studies show that 44% of people prefer eating out. For this, your business needs to be where the people are. This expanding demand, audience size, sections, and competition have ended in the progression of consumer behaviour, preferences, and expectations, triggering an entirely new set of global, digitally related possibilities in the hospitality marketplace.

Airbnb is leading the market by having more than 4 million properties in over 65,000 cities, combining more than top 5 major hotel brands.

So What are short term rentals?

Short term rentals are usually based on the time length of renting a particular property. Vacation rentals are a kind of short term rental. Also, this has gone as far as even renting out for commercial properties. The acceleration of pop-up shops in malls an even commercial complexes has made it prominent. A short term rental typically starts from a few hours and goes up to a few days.

The flexibility of the short term renting makes it suitable for the tenant. The properties provide you with all the amenities that you need and help you in cost-cutting. For the landowner, they can increase the price of property whenever they would like and also rent it out on a time that is suitable for them.

Platforms that are based on Short term renting-

Airbnb- Your Vacation Rental Platform

Find unique places and experiences with this website. This is a platform that can be used to rent out homes for a short period of time. This platform has grown so much in just a small period of time. You can find all the different types of stay rentals in different areas. It has now become a Millenials favourite spot.

We work- Coworking and office space

It has a global network of workplaces that you can rent for a short period of time. Meeting rooms, office spaces, private office, conference rooms and also event spaces can be found on this platform. Find comfortable shared office spaces and keep the work going.

Myrsa- Temporary Renting of Vacant Spaces

Myrsa.in has everything that we work has and much more. This is a website where you can find short term renting of commercial spaces whereas you can even find a retail or any kinds of spaces for any kinds of activities. Here the renters can rent out any extra space to the brands that would require them. The most popular spaces would include parking spaces, garden areas, clubhouses etc. Brands can use these kinds of spaces for any of their promotional activities or people can use these spaces for events or celebrations of all kinds. Spaces for popup shops in malls or kiosks spaces can be easily found over here. It has a vast variety of activities and also a huge variety of spaces. You can visit the website to know more.

Growth Drivers of Short Term Rentals

The rise of the Sharing Economy: Retail space sharing isn’t new. Sharing economy means to share or rent out something that is not in use. A property that you own but there are some spaces that are of no use to you or they cannot even generate any income for you. Some of the businesses selling complementary products end up sharing more than just the space. These spaces can be of use to many other businesses even the smallest of vacant spaces can generate you income. Utilizing them for generating extra income can be a great idea. There has been a lot of growth in these types of economies in different sectors like travel, car sharing, rent sharing, finance etc.

Flexibility: Short term rentals are extremely flexible. In many cases, they start from a period of a few hours and can go up to a few days. Vacation rentals are of a similar kind and if you are a commercial property then you can rent them out after hours or on the weekends. It is up to you to decide when you can rent out the property and this makes STR one of the primary reasons for renting. Seasonal brands, seasonal cafes or and many other retailers can make use of the STR and have their own shops set up everywhere.

Value for Money: The average cost of a vacant property on a short term basis can generate a lot of income than what a long term investment would give. With a wide selection, from places with high visibility to a small space, affordable places have become easier with the STR properties. They are now becoming primary choices for many.

Rental Property Investments: The preference of the millennials and the generation x demographic for rental properties over ownership has succeeded in rising rental yields and sustained demand growth for investments in real estate rentals. Also, pop-up shops are a trend that millennials intend to follow.

Popup-centric Technology Platforms: Popups are becoming extremely popular to reach out to different audiences. Millennials love this idea and brands want to impress the millennials through this. Every brand needs to have its own pop-up shops in different places. Testing out markets becomes easier through these platforms as you can have different popups in distinct areas for a short period and find out which one is the best to invest in. Also, the phrase “here now and gone tomorrow” makes it more desirable for the consumers.

Wider reach: Business owners can easily increase their brand reach with the STR programs. You can open up a number of shops at a point of time and it helps you grow further with your audience. You don’t actually need to have to invest in the property essentially, but can still have your brands at all the different places.

The STR marketplace has brought a change in the definition and meaning of property ownership by disrupting the long and traditional way of hospitality. This has given a new way to earn income from the real estate ownership business. It is now a thing that no one chooses to ignore and adapt it to their business as soon as possible to make the most.

Adapt to this new way to carry out your business and utilize all your spaces to the fullest by monetizing them!

March 6, 2019 0

Renting a Retail Space: List of things to consider

Finding the appropriate retail space to rent takes time and patience. The space becomes a fundamental part of your brand and, of course, the location is significant. Before you decide on a spot and open a storefront, you’ll want to front load the process with some strategic research and thoughtful planning. The more planning you do now, the more you’ll set your business up for victory in the long run.

Discovering the ideal neighbourhood, making sure rent fits your business budget and evaluating the proper square footage are all key steps. Here’s a clever guide to navigating the world of commercial real estate with a keen eye for detail and the appropriate frame of mind.

Your retail space is an integral part of your brand image.

Define Your Budget

Every project starts with a budget and identifying how much and the type of space you can afford up front can spare a great deal of time and hassle. It’s prudent to keep your rent payment in the range of 3% to 8% of your gross revenue. The averages for each industry differ depending on the role the retail space plays in the overall business strategy. Electronics stores, for example, typically put a lower percentage of sales toward their lease (around 2% on average) than clothing stores (around 8% on average). Figure out this percentage by dividing the annual rent payment on a space you’re considering by your gross annual revenue.

Knowing your budget before you begin searching for the perfect space will save time and hassle.

Figure out How Much Space You Need

To determine your ideal square footage, map out the several workspaces and other areas that your store will require. Examples comprise the sales floor, inventory storage space, offices, kitchen, bathrooms, and dressing rooms. Now measure your square footage needs for each one of those spaces and add together for your total square footage.

Traditionally retail sales floor space is measured using industry research and this formula:

Making these estimations beforehand can help you pinpoint the properties that are the best match within your budget.

How to Pick a Retail Location

Choosing the right location can seem like rocket science. In a simple world, you just require to be where your ideal customers are, or you need to make it accessible for those customers to get to you. Once you have that covered and have narrowed down your preferences to a few options, it’s time to drill a little farther and do some comparison.

Begin with the most straightforward comparisons first:

Rent expense, including utilities
Amenities available, such as security
Parking availability and public transport nearby

The cheaper space is not sufficient if your customers don’t have easy access to your store. Analyze how customers will get to you and factor in the hidden costs of an unsafe area in lost sales.

Then move on to the more complex comparisons:

Size of the neighbourhood/area and its demographics
Nearby businesses and the foot traffic they’re likely to bring
Local Competition (consider both the pros and cons of this)
Compatible Businesses (think college and pizza shop)

If you sell to a targeted niche, you may not depend much on foot traffic, but it’s still significant.

Competition can mean a proven location in many cases, so it’s not evermore a bad thing. Businesses nearby whose services are corresponding are worth their weight in gold. Also, businesses like a big supermarket that will drive a lot of foot traffic can be important. This idea forms the source of most shopping centres that have an anchor store on which the other stores will depend on traffic.

When you estimate your rent expense, all of these revenue-influencing factors should be a part of the decision.

Scouting Spaces: How to Find Available Rentals

Above all, when scouting out possible spaces, always keep your ideal customer in mind. Are they somebody you see shopping nearby or walking and driving past the site? Is this an area where they are satisfied spending time and where they already spend money?

If you want to start out on your own, look for websites that provide you with all the nearby rental options. Myrsa is one such website that you can use for your scouting.

Myrsa provides you with all the different types of retail spaces for rent. You can find short term rental spaces and try out different localities for your business. Choose the perfect location for your business. From small spaces to spaces with all amenities nearby filter out your search and easily find spaces.

Related Post: Why Is The Popup Retail Trend Better?

Final Thoughts

When searching for the perfect property for your retail business venture, keep your brand and the customers that your brand was designed to serve in mind at all times. A good fit for your clients will be a good fit for your business.

In this fast-paced and ever-changing society, location remains as important as it ever was to the health and well-being of a business. Plan for the appropriate amount of space at a price that fits your budget from the beginning.

February 19, 2019 0

Let us understand the benefits of digital transformation on the real estate sector

1.Interactive online Applications

2.Real Estate Portals

3.Autonomous Vehicles Parking

4.Property Management Softwares

Price

Location

Accessibility

Ambience

Services and facilities

Time Period

Planning an event :

Keeping Track of the Event Process:

Finding A Perfect Venue For the Event:

Types Of Events Organized on Unique Places:

How will you find such spaces?

How can this help you?

The Definition: What are Pop Up Shops?

The Concept: Why Pop Up shops in India?

1. Affordability:

2. Short term commitment:

3. Brings in Attention:

4. Testing & Experimentation:

5. Brand Awareness:

1. Get to know the neighbourhood:

2. Be on the lookout for fliers advertising local events:

3. Reach out to the local media:

4. Remember to stay true to your brand:

Do Your Restaurant Market Research

Be Flexible When Looking at Restaurant Spaces

Do a Landlord/Location Background Check

Know Your Budget

Don’t Be Afraid to Haggle

Know What’s Included With Rent

Have an Exit Plan

So What are short term rentals?

Platforms that are based on Short term renting-

Airbnb- Your Vacation Rental Platform

We work- Coworking and office space

Myrsa- Temporary Renting of Vacant Spaces

Growth Drivers of Short Term Rentals

Define Your Budget

Figure out How Much Space You Need

How to Pick a Retail Location

Scouting Spaces: How to Find Available Rentals

Final Thoughts

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