E- Retailers Should follow this approach to grow!

One of the interesting thing that I found on the web was that Amazon opened its first-ever brick-and-mortar retail store in its 20-years of business. The Amazon Book Store itself is like any other store on the street with wooden racks, 5000-6000 books and a cute Kindle Book offering visitors a chance to browse through their favourite reading list.

Amazon is the largest online marketplace and one of the most popular companies serving customers in 15 different countries across the world, took a chance of opening a physical store. This seemed silly on my part until I thought of why they did that!

The Amazon Book Store offered something that online marketplace was not able to offer for 20 years, “the instant gratification of owning an item the second it was purchased and personal opinion about a product from an experienced salesperson”.

Apart from this, Amazon was also confident that the data generated by this exercise will be very helpful in selling the series of Kindle E-books on the website and the Kindle Store. The vice-versa also works! The reviews and feedback on the website will provide an idea of what to sell in the store and how to stock up the store. There was no surprise on my part when I heard this, but a glimpse of shock at why anyone else hasn’t thought about it.

Although Seattle was the destination for this venture, I had a good look at the pictures sitting here in India. I think the best part about the Amazon Store was that it was showcasing authors and their work, rather than just racking up books.

What should we learn from Amazon Book Store?

It feels good to have a Physical Store of an Online Marketplace. We could just look for something on the web and buy it instantly from the store at the same price.
We can educate people better about a specific brand or a series of products.
Have the experience and physical comfort in buying the same from online.
Build trust in people who are afraid of online shopping.
The most important part – Brand Awareness! One of the best outcome from having a physical appearance of an online marketplace, at least from Amazon’s findings is that offline retail is a big space with room for lots of winners. So, integrating both Online and Physical visibility can bring in a lot of awareness, marketing and promotion to all segments of a Brand Line.

Related post: How can startups benefit from Myrsa.in?

Why should Indian e-retailers follow Amazon’s footsteps?

Test the Market: Opening a Physical Store, shops in malls allows brands to engage in test marketing new products and promotions to gauge future demand.
Reach Audience: Although the number of online shoppers has increased by 120% last year, they’re still 60% that can be reached and encouraged to do online shopping.
Brand Extension: Businesses can extend their brand and build awareness. For online businesses, especially, physical shops provide a way to interact with customers face-to-face and also educate them about new products, services and features.
Stay ahead in the Competition: Now that anyone can buy anything, sitting anywhere in India, people are getting used to online shopping. One of the best ways of being at the top of the competition is integrating the online & physical store and exploring the findings from both to serve customers better.

Surprisingly, none of the big giants of India like Flipkart, Snapdeal, Myntra, Jabong, etc has yet tapped into the physical market, even after Amazon has shown the path of serving customers better. But, I recently read about the new 2,500 sq. ft. Pepperfry Studio in Mumbai, where a range of furniture’s is showcased from Pepperfry.com’s online portfolio. As per Pepperfry, this place lets you experience the cutting edge designs, ranging from contemporary to classic, from ethnic to eclectic”. After I read more about Studio Pepperfry, I felt someone is thinking right and exploring options in India!

One of the best outcomes from having a physical appearance of an online marketplace, at least from Amazon’s findings is that offline retail is a big space with room for lots of winners. So, integrating both Online and Physical visibility can bring in a lot of awareness, marketing and promotion to all segments of a Brand Line.

Myrsa is an online platform where you can find the physical spaces for your brands in prime locations. It lets you rent a space for a temporary period of time, starting from a few hours to a few days. The temporary rental program makes it easier for you to find mall space for rent. If you wish to take your business offline you can find spaces easily on Myrsa.in.

January 16, 2019 0

6 Spaces That You Didn’t Know Could Make You Money!

In your hustling days, your 9 to 5 job and that too if you stay in a city like Mumbai, the traffic it takes up your whole day. In all of this, if you even contemplate about being an entrepreneur preferentially making some extra funds it is actually troublesome. Although what if I tell you can earn money without putting in much energy. All you have to do is see around you! In this blog, we are going to look at all the spaces that can you can earn from.

If you’re a landlord or just looking to make money with real estate, it’s essential to understand how to manage a property in the right way. As a property manager, notably as a first-time landlord, you’ll be forced to wear many hats. How you control that property is going to either make or break your chances for success.

Entrepreneurs have become fixated with rental property and not just long-term rentals. The emergence of Airbnb and the eager rush to convert condos and homes into short-term, temporary rentals has the real estate world reeling. If you’re seeming to get into the fray, heed the advice from property managers who are dominating the short-term rental game.

While short-term rentals are on a constant rise, they have been a source of income: passive income. Real estate is an excellent illustration of one of the >best ways that we can create a passive income from a real-world asset that increases in value over time. The best part? If it’s a section of your own property that remains vacant, you can still receive the rental income. Music to your ears, right?

Well, what’s not so apparent or straightforward is particularly how you go about managing that property. If you don’t have the time, no problem. Myrsa will help you. Myrsa is an online platform where you can find potential brands that would want to use your space. List your space on the website and send an enquiry to brands that can use your space. The brands will then contact you. It’s as easy as that!

Here are some of the spaces around you that you can give out for temporary renting.

Garden

Garden areas are on a huge demand right now. They have endless opportunities. Being an outdoor area and the natural ambience, people find this the perfect place for their activities. You don’t use your garden areas that often and rest of the times they remain vacant. From a small yoga class to a big event everything can happen in this area. As Myrsa provides you with the temporary renting program you can set the time when you would like to rent out your garden area.

Parking Lots

Your empty parking space can be given a whole new perspective. Parking lots in residential areas or commercial areas are huge and you can earn a lot from these. Usually, you will observe that they remain empty for the utmost of the day. Additionally, you can rent out a part of your parking lot and use the other half for parking. Activities like exhibitions, small stalls, food trucks, pop-up shops and even educational events can be held.

Open Ground

Bunch of events and things can take place at your Open Garden. Parties, Weddings, Exhibition, Flea Market, Food Fest, sports event and many other events. Brands that need your space can contact you. An open garden can be a great source of income for you.

Halls

Halls are utilised by people every now and then for any sort of event. Small parties to grand celebrations can all be held in your halls. Myrsa helps you to take your booking online. Brands will easily find you to carry out their events and you can have a new event every day. Even yoga classes or dance classes can be held during different hours in your halls.

Auditorium

Auditoriums usually remain empty most of the times. Offices today are more inclined to hold seminars in offbeat places to keep their employees motivated and for them, your auditorium spaces can be one of the spaces. Let out your auditoriums for different types of seminars, events and even for small movie premiers. Upcoming artists can also use your auditoriums to practice their performances beforehand.

Cafeteria

Cafeterias are something you must have never thought of about earning money in any another way. But the free spaces in your cafeterias can be very useful to some. You can give out your cafeteria space for rent to potential businesses. Food tasting activities, new product testing or even small stalls for newspapers can be in your cafeterias. You can even rent out space for atm.

All these can become your extra source of income. Watch out for more blogs to know the amazing spaces that you can earn money from and that too on a temporary basis.

January 8, 2019 0

How can startups benefit from Myrsa.in?

The ‘Golden Age’ for start-ups in India has rightly and truly arrived, and India is witnessing its age-old talent for entrepreneurship being unleashed like never before. Brand-new ideas are exploding into business models and investors are all lining up to provide the requisite finance and mentoring, to take the start-up to the next round of funding and higher valuations.

India today is replete with examples of successful start-ups that have seen valuations ballooning within the first five years of operation. Renown names like Make My Trip, Naukri.com, Shaadi.com, Just Dial, are all success stories that have survived and grown from the last internet boom, at the beginning of the Millennium.

Success stories of companies that have grown over the last 5-8 years in India are Flipkart, Snapdeal and Myntra – all e-commerce companies, Paytm in payment processing, Red Bus in travel, Ola in taxi aggregation, Book My Show in entertainment, and Housing.com in real estate. The list is long with more businesses being launched each month.

Numerous successful online or e-commerce businesses and small-scale startups face a very genuine problem which is to target potential audience who are not aware of your brand/business and convert them into loyal customers.

One of the colossal hurdles these businesses face is that of forming a professional presence out of the ambit of their reach. For digital companies, these would be tapping into potential customers that are more likely to avail your product/service when acquainted to it in the physical dimension. For small-scale businesses, this would be making people aware of their existence outside the vicinity of their operation. The biggest challenge faced while executing a strategy which aims to tackle these marketing barriers is finding the apt retail space for rent which would complement the needs of your business to blistering extents. People with their own space can open doors and host events – reaching a new audience, expanding their network and growing their business with additional income.

What are the biggest challenges faced? More importantly, what does one do about it?

Understanding investment- As a good businessman, you obviously know that owning assets that generate value and earnings is much better than owning assets that generate expenses.

So now let’s discuss the really important details ->

1.)Issues with conventional rental -> If you rent a commercial venue through conventional means and methods nor only do you find yourself facing leases stamped over but might also have to handle maintenance, utilities and commitments to occupy the place for a set temporal period.

2.)The opposite side of the picture-> In strong contrast to this consider finding yourself a platform which lets you rent said avenues on weekly or monthly rolls without strict leases and independent of any and all sorts of legal fidelity.

3.)What can you do with it? This quickly empowers you to switch between places to find the appropriate one according to your professional needs. Also shifting between important locations with a good inflow of defined target audience is “gold” for your brand/business awareness.

“The pendulum has swung too far,” stated a founder of one of the well-doing startup in Bengaluru “People have to have places to restore and absorb and process information” in order to be productive at work, she said.

4.)Optimization through analysis-> Individually if you have the liberty to hop between different spots and decide which shops or workrooms are most suitable for your goals and targets you’ll be able to optimize your business strategy.

One of the most potent elements of running a successful offline business is ideally finding the perfect surrounding an environment that complements your venture. This more often than not can only be figured out by trial and error no matter how much you try to work it out in theory.

Myrsa is an online platform that not only lets you avail everything already mentioned here but a lot of other features as well to assist you in real-world simulations of your business in different environments. You can temporarily rent office or shops for short terms, shared working space with already established businesses; which by the way is a great place to tap into the already in-flowing foot traffic , avail accommodation spaces to cache your procurement, get promotional spaces in places like malls and shopping centers, advertising spaces and a lot more. Basically all the benefits of temporary renting out any space with bare minimum liabilities. So stop waiting and up your marketing game to the next plethora, go check out all available rentals and get the one that suits your business needs and wants.

December 28, 2018 0

How can Short-term Renting benefit you?

If your business needs a short-term rental or a smaller space, you have your work cut out for you. Typically, the minimum lease term for a commercial real estate renting is three years. Nevertheless, this does not work for every type of business. When it comes to startups or small companies, flexibility is key as they establish themselves within the market. Additionally, these types of businesses don’t usually need a lot of space, so they are often looking for a space that is smaller. This can be hard to come by, as most rentable space is a minimum of 1,000 square feet.

THE PROBLEM

When these types of businesses start looking for office space to rent, they often find that they have limited options. In general, landlords prefer long-term rents, because month-to-month or year-long rents are not to their advantage. Finding a short-term space for your business requires extensive searching, and you may not find anything that meets your needs.

Even if you do find a landlord willing to rent a space to you, you are at a distinct disadvantage during tenant negotiations. You have no leverage, and therefore, may have to take a higher rent than your neighbours. Not only that, once your lease is up, you are particularly vulnerable to a spike in rent if you want to renew your lease.

Related Post: Give your empty retail space for rent!

THE SOLUTION

If you are looking for a smaller renting space or a more flexible renting, it is wise to use our online platform. We can help you find a commercial space that suits your needs.

Be in the market where you want to be…Locally, Regionally, Nationally!

If you are looking for a temporary space for a day, week, month or year.

We can help. Myrsa’s portfolio of outdoor shopping locations provides advantageous visibility in prime markets across the country. Whether you are looking for temporary renting or an advertising opportunity, we have the perfect location for your business.

Reach and surpass your business goals:

Expand and test a market
Build a customer base
Transition into a long-term tenant

Advantages to a short-term lease:

One day to six-month terms
Competitive rates
Minimal risk
No long-term commitments
Limited start-up costs

Available opportunities:

Temporary inline space (pop-up shops and offices):

Seasonal retail stores
Outlet & Overstock stores
Boutiques
Consignment shops
Office spaces

Parking lot space:

Tent sales
Fireworks sales
Christmas tree sales
Garden centres

Events:

Art shows
Children’s events
Product sampling & tastings
Farmers Markets
Holiday-themed events
Craft Fairs

Signage & Sponsorships:

Banner/light pole ads
Backlit signs
Window Clings
Billboards
Event & seasonal sponsorships

Environmental & Wireless technology:

Solar panels
Small cells
Cell towers
Donation Bins
Recycling Bins

All short-term deals require the following:

A license agreement signed by both parties
A Certificate of Insurance
A security deposit
Professionally printed signage

Advantages of a Short-Term Commercial Real Estate Renting

Flexibility – For startup businesses that are growing quickly you never know if and when you will need more or less space. If you decide you don’t like a specific location or space or you get that big deal and need to hire 30 more people you can easily pick up and relocate with a short-term lease.
Contingency – It’s a known fact that most companies fail within the first 12-24 months of being in business. Having a short-term rent will give you the ability to cut your losses and not have to pay the landlord a large sum of money to cancel the lease.

As you can see there are many Pros to signing short-term commercial leases. If you are not sure you want to remain in the same location or expect future growth or are just unsure about the future of the company then a short-term renting might be the best option. If your business is more established, financially stable, and not expecting to expand rapidly then you are better suited for a long-term commercial real estate lease.

In the meantime, if you are looking for commercial real estate then log on to Myrsa and start renting.

December 1, 2018 0

Category: short term rental