What activities can be done in a short term renting space?

Maximum use of the flexibility in the use of short-term rental space is the perfect opportunity for retailers and e-commerce brands to experiment and be quite impactful. Short-term retail strategies are on the high rise, as its low-risk experimental play could give you huge rewards and allow you to earn extra income. As a marketing tool, these strategies are ruling retail this year, be it the prop stores or the huge physical retailers.

Renting a space in short term renting space is a trend that is here to stay and affects consumer views for a positive outcome. Here are few activities you can benefit from short-term renting space.

Expand new market– Short-term rentals are a great opportunity to expand a brand into a new market or test a physical location. Many brands have experimented with such concepts in multiple cities, eventually leasing their business in a specific location. A person can rent such space to grow their small business and can help them reach wonders.

Renters can be used as an experiment- With short-term renting, retailers and renters can be considered as temporary retail to experiment with products, collection, and collaborations. Using a short-term renting space as a smart way for brands to announce temporary collaborations and collections is well.

Small-time activities- Businesses with small activities like dance classes, coaching classes, Office meetings, etc. can be performed in a short-term renting space. Short-term renting spaces like empty clubhouses, empty office spaces, open grounds, etc. can be used as short-term renting space.

Putting out your new clothing brand/shopping- Clothing workshops and shopping can be one of the best use for a short-term renting benefit. If you are looking to put out a new clothing workshop or in a store temporarily, then short-term renting spaces can be considered as one of the best use. You can call out your customers to visit the store during that period and then you can sign in a contract with the rental space owner or even extend the lease according to your requirement.

Related Topic: Long term renting benefits

Workshops and coaching centers- There are many people with small businesses or learning willing to conduct workshops for their potential customers and sometimes, your house can be considered small for conducting your workshops. Empty spaces with short-term renting options can help you start your workshop and help you grow your business reach wonders. While we are talking about workshops, coaching centers can be conducted in short-term renting space, wherein a certain amount of teachers can teach in a certain period and one can book the slot accordingly.

Work from home might be difficult- Because of the pandemic, work from home has been increased and has been the only option for all the employees. But for some people work from home can be very chaotic since everyone in the house is working from home. In such cases, empty spaces can be considered as one of the best options for such employees to come in and work every day wherein the rent wouldn’t cost much too. Empty spaces near your house can be considered one of the best options at this time with good maintenance.

July 27, 2021 0

How businesses survive during pandemic using temporary spaces?

The pandemic has tested human patience to its core. With never-ending lockdowns, restrictions and curfews we have learned to embrace life as it is and work towards building it into a good one. We were safe in our homes but haven’t we ever wondered how hard the businesses were hit due to this?But isn’t it fascinating at the same that there are so many new businesses popping up during a time like this?

More and more people have started accepting this as the new “normal” and moved on. There are so many creative new ideas that have grown so much in this period and that too from the comfort of their own homes. These businesses are now at a small scale and a local level but, once they grow, they’ll need to move out of their houses and look for bigger and better places.

The businesses which have recently emerged might surprise us at first but they’re making profits and people are choosing them over the other conventional ideas. Since the virus has forced us to hide under a mask, a business that popped up is that of custom-made masks which makes sense right now.

People love to flaunt their designs which is making this quirky idea work.
Local businesses might prefer expanding into their city first as there is a sense of comfort as they know their areas well. For this, temporary spaces are the best solution. A business that once started from one room can expand into a flat and slowly move towards renting big spaces and in many later stages expand to other cities as well.

With the rise in the gig economy and a big hit due to the pandemic, more and more people are shifting towards freelancing. In some types of freelance jobs, you need a workspace of your own but with a crowded or small house, a workplace of your own might seem like a dream, but it is possible to own a workplace by renting a temporary space at your convenience. Who would’ve thought about that right?

Another rapidly growing business is a home run bakery. More and more people have started baking and it’s growing at a rate which no one ever imagined. Soon these great bakers will need some space with the resources to fulfill the blooming orders. This is where temporary space can prove to be very useful as they can store all their products as well as expand.

So, another question that comes into our minds is how would one avoid the hassle of long drawn contracts and lease contracts? The answer to this question is Myrsa. Sounds weird right?

With Myrsa you can avoid the nuisance of lease and rent a space temporarily and grow. With just a few steps to follow you can build a business from scratch on your own! So, what are you waiting for? Get, set,
book!

February 20, 2021 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

Earn Extra By Giving Empty Retail Space For Rent!

In 2017, the retail business saw some huge changes. Publications were loaded up with doom and gloom headlines about the retail end of the world. And while brick and mortar continues to be a feasible deals channel, the shifting landscape has some industry players, especially business landowners, endeavouring to make sense of how to fill their empty retail spaces.

As traditional retailers screen, that space is left unoccupied — leaving the owners to locate another occupant. Finding another long-term tenant can take months or even years, yet that home loan on your space still should be paid. Rather than basically hunting down another, lasting occupant, you can monetize your unoccupied retail space meanwhile.

Depending upon the size, layout and area, you have choices to make some money off your space while waiting for the right occupant. Giving your retail space for rent can be a great idea. Here, we outline a couple of the best choices so you can settle on the correct choice for your space.

Utilize Your Space for Pop-Up Shops

Rather than picking just for long-haul retail occupants, business space proprietors can likewise investigate the alternative of short-term renters. Indeed, we’re looking at presenting your space for pop up shops.

Short-term opportunities, similar to pop up shops, can keep your space possessed with retail occupants and keep the foot traffic streaming. Yet, before you start with your choice to run with pop up shops in your space, there are assignments you’ll have to deal with to prep your space for short-term tenants.

Just like with private gatherings and occasions, you’ll need to accommodate tenants with the basics like bathrooms, Wi-Fi and climate control. To additionally speak to brands lurking here and there for the correct space for temporary activation, you’ll need to guarantee yours is impartial to effortlessly expect your renter’s visual identity.

Each renter will need a different aesthetic, so if you have a blank slate for brands to work with, you’ll likely pull in more bookings.

Rent Your Space for Private Events

If your space is especially in an urban centre, you can likewise rent your commercial space for private occasions. In many bustling cities, there’s a consistent demand for well-appointed venues for gatherings and occasions, and commercial space owners can take care of that demand.

From fundraisers to art sales to parties to corporate events, property owners can showcase their space for a variety of purposes. If you choose to go this route, ensure your space can suit organisations eager to have an event with things like:

Working restrooms

Wi-Fi

Heating and air conditioner

Light, particularly neutral light

As a space for occasions, you need your setting to be a clear canvas. Along these lines, consider painting your walls a shade of white and keeping any decor theme neutral. It’s additionally useful in the event that you can give catering or bar service suggestions to occupants.

Likewise strategize which kinds of occasions would work best in your space — intimate social events, large parties or something in between.

Myrsa helps you with renting out your spaces on a temporary renting basis to different brands. Just list your space on Myrsa and start earning instantly with the brands of your choice.

September 11, 2018 0

Mobile Payments accelerating Pop-ups

1. MOBILE PAYMENTS ACCELERATING THE POP-UP MOVEMENT IN INDIA

When I first heard of pop-up shops, I thought they were specialty booksellers. I had no idea how popular the idea of temporary retail spaces would be in the new age of digital commerce, but right away, I realized how mobile tools could help make them successful. From tables set up at exhibitions to temporary stalls put up by food vendors, these stores need a way to process the payments customers are likely to make.

2. MOBILE PAYMENTS OFFER THE SAFEST OPTIONS AVAILABLE

Multiple forms of mobile payments like wallets and UPI exist today, though some will be better suited to your pop-up store. You can set up a table at a flea market and accept payments with PayTM, or you could accept payments via cell phone with UPI/BHEEM.

You could use a service like MTAP to accept credit cards through your smartphone or tablet.

Or, tap into direct carrier billing (AirtelPay)/(Ji0Money) and (Vodafone pay) to allow customers to make purchases and have the cost applied to their cell phone bills.

The options are endless. So, if you want my advice, make sure you check out the options that integrate best with your business and transaction platform.

3. INCREASING TICKET SIZE, PROFITS, AND EASE OF USE

One of the biggest obstacles to establishing a successful temporary rental spot is being able to accept multiple forms of payment. Letting your customers pay with credit and debit cards and with the multiple new “Wallet Options” now will have a significant impact on your profits. For example, in India, 90% -of-sale purchases are made with cash but only in case of small transaction values but there is a definite uptake of other means of payments.

Related Post: Your space is your leverage!

Studies show that a variety of payment options motivate customers to spend more. Today’s customer likes–and trusts–options, so when you offer them the option to pay in whatever way they feel is best for them, and they’ll reward you by spending more and definitely more than the cash they usually carry!
Lastly, you need an affordable way to take payments that you can quickly figure out. Today’s top tools are easy to install and understand, and they have options you can use for analyzing sales to improve your business.

December 16, 2017 0

Renting a retail space as easy as booking a hotel

Myrsa matches potential short-term tenants with landlords sitting on vacant/unoccupied real estate spaces.

In an age of seasonal and cyclical in-store sales and poor prospects for long-term tenants, Myrsa could be a blessing for commercial real estate!!

Starting a business can cost you your lifetime of savings if you are a small business — ₹ 18 to 20 Lakhs on an average based on industry standards and yet not even half of them will survive beyond 2 years.

How many more businesses could succeed if entrepreneurs could test out their concepts by slashing one of the major costs of starting a small business: securing a retail/service space.

Yet connecting space users and providers for short-term leases remains cumbersome. If we are successful, renting a temporary space will be almost as easy as booking a hotel room.

Myrsa is focusing on allowing renters and sellers to find each other and exchange inquiries and proposals. We locate and curate vacant spaces on our platform. Myrsa offers a marketplace for short-term retail or service/workspace that makes renting temporary space feel like booking a hotel on MMT or any travel portal.

Related Post: It’s a win-win!

If online is about convenience, then offline is about getting your product and service in front of real people and being where your customers are. We see the future of retail and last mile service/web-stores going towards temporary leasing and targeted outreach!

Signing up with Myrsa is easy, in practice it is as convenient as booking a hotel or a flight, with some additional steps to complete the booking by making the payment.

The current trend of established & large retailers using temporary spaces to market feature or test new products is moving toward small business owners as well who want to try out ideas without committing to conventional long-term leases.

It’s great news for property owners as well who once coveted big retailers and long-term tenants, but see temporary businesses and exhibitions drawing record crowds, filling up vacancies and even making temporary clients into long-term customers within no time if space works for the tenant.

We believe our model will let landlords generate additional income from their vacant & unused space while opening up the possibility of a retail store to far more brands, entrepreneurs, service providers, artists, designers and who could not (or would not) sign long-term contracts till now.

Temporary stores could potentially help give offline retailers some of the low-cost agility enjoyed by online sellers such as Flipkart & Amazon. (The online surge has led to predictions of the imminent demise of brick-and-mortar businesses).

Retail in India always had roots in short-term retail and it’s coming a full circle. The urban shopping districts of India and especially the Tier 1 & Tier 2 cities are transforming. We see temporary shops on all our footpaths, don’t we? They are everywhere!!