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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

Test out new markets with no long term commitments!

Lets set the scene: you have designed your first or second collection, samples are ready and you want to hit the ground running. Before you take your product to a business, ask yourself, “Have I tested my market?”

Market research is one of the first steps you do in developing your brand and collection. At this stage of development with samples, you have probably researched your competition, determined pricing, and created a brand story to launch off of. In fact, you may even have a sales strategy to penetrate the market and a small list of contacts. This is, of course, the best case scenario.

On the other end, you may have none of the aforementioned in place. Regardless, testing your market will validate your brand, solidify your pricing strategy and offer you incredible insight before you launch any public relations, marketing and large retail relationships. With a small initial investment upfront producing a small collection you may be able to save your company thousands of dollars in the future from failed collections, prices that are too high and styles/bodies that don’t fit.

Through market testing, you can:

Test out price sensitivity.
Try new styles- does it fit on ‘all’ body types.
Open up customer reaction outside of friends and family.
Gather true demographic statistics before approaching retail buyers.

The best ways to test your market is going directly to the consumer through pop-up shops, trunk shows, and in-person events. The best strategies to getting the most from your 2-4 week pop-up shop are as follows:

Assortment Planning. 60% Key Brand Styles / 40% New Styles/Fabrics
Merchandising. Placement on the selling floor by price point. What does your client gravitate to? Price sensitive? Are you telling the story that justifies the price? Re-merchandise your selling floor at least 3 times in the 7 day period.
Grassroots marketing. Invite your target market, partner up with local businesses to cater, speak to the local press, and work with other designers to double up on your efforts and cut down costs.
Lastly, be a hawk, ask lots of questions to your customers. Would they prefer it in a different style? Different colours? You cannot please them all, but you can understand what they want.

Remember: your goal is to get strategic feedback and make business decisions based on them.

Market testing is to a fashion brand what beta testing is to technology. It pays to do it, does it right, and make intelligent decisions with the data you receive.

For this, the first step you can do is to find an ideal space to carry out your market research activities. Where do you think can be the perfect space for selling your products? If you couldn’t decide on that you should test out all the different spaces that are available. That doesn’t mean that you have to buy shops in different areas. Short term rentals are your way to go.

Things we must ask ourselves to understand short term rentals!

a) Can I rent stores for a week or a month?
b) Can I rent an office on an hourly or daily basis?
c) Can I examine a market by opening up a pop-up store?
d) Can I carry my business where customers are?
e) Can I rent a space amidst zero security deposit and no lease?

Ok now, let’s get to the subject. Understanding Short Term Rentals!

What are the short term rentals?

A definition is as simple as it sounds. “Renting a space for short term – viz. hours, days, weeks or even few months”

Short term Commercial Rentals are becoming more and more successful nowadays, because of the perks that come along with them. Although, every business understands that getting a right space at the right time is very important, very few are lucky to have that opportunity because of unavailability, difficulty in accessing spaces, unrealistic terms or even unreliable sources.

Short term rental are used to promote, occupy or even sell products in a new market. You can rent a space in any locality to reach out to your customers (read more about pop-up stores) or even have a workplace for a short duration.

How short term rental’s work?

Myrsa is India’s online platform to book short term rentals.

We leverage unused and underutilized space and provide them for businesses. To sum it up, Myrsa’s view on short term rentals can be described as:

a) Any space that can be rented for a few hours, days, weeks or even months.
b) Any space that doesn’t have complications like Leases, Security Deposits, etc.

c) Any space that is accessible by a business for their needs.

So, using these unused or underutilised space, one can have their business set up for the short term. These spaces can be used for office, retail, advertising, event, etc.

Related Post: Give your empty retail space for rent!

Why should you try short term commercial rentals?

Affordability: Because short term rentals are temporary in nature and smaller in size than conventional retail or office spaces, the cost of rent is usually affordable.
Short term commitment: Rather being locked into a long-term rental agreement, the brand is only committed for a fixed period of time, which means it can adapt to changes in its business and marketing plans.
Brings in Attention: People are interested in the sudden existence, especially if they look unique — for instance, retail shops or exhibitions.
Testing & Experimentation: You can test your Brand on the go! You can test marketing new products or trying new office environment to gauge the response, from which you can improve in future.
Brand Awareness: Utmost of all, when you reach out to people personally, you will be promoting yourself and your brand. This will bring in a kind of faith and assurance in every customer or client.

At the end of the day, any space that can be efficiently rented by a business for the short term is the way to try reaching out to new markets, customers, a better environment and affordable options. Moreover, the best part of this is no lease or no security deposits!!!

February 15, 2019 0

Why Is The Popup Retail Trend Better?

Let’s begin with the basics of what we mean by pop up stores.

Pop-Up shops are used to retail pretty much anything. It can be Clothing, Jewellery, Art, Crafts, Tech Gadgets, Food or anything you are selling. The Pop Up Stores are set up on short term rental. The span can be a couple of hours to weeks, but the concept is to have a temporary presence so that one can reach out to customers.

Related post: What Are Pop-up Shops

Reasons why Pop Up Shops are preferable than traditional advertising.

1. Engage Customers with Experience

When you have a Pop-Up shop, you are inviting your customers to feel your product/brand closely. Your customers indeed will get experience and trust in your product. Pop-up stores provide the power of experiential marketing and create a retail environment with a twist. In current years, shoppers have begun to spend less on products and instead have been spending their money on experiences, such as going to the cinema or eating out at a restaurant. While this has remained bad for some retailers, it has left a gap in the market for the likes of pop-up shops.

A pop-up shop intrinsically has the potential of novelty to contribute to the experience that it creates. In extension, pop-ups are usually run by a very small number of staff who all care about the store’s success. This secures a real interest in customer feedback and an increased desire to interact with customers in a genuine way. It also combines the experience of a pop-up store and helps to really engage customers on a personal level.

popup shops on rent

2. They’re Nailing Events

Events are an excellent way to ensure a store is creating an experience. Pop-up stores are excellent at this. This is partially down to their agility and enthusiasm to make the most of their limited time on the high street. By managing events, such as a demonstration or a talk by a well-known local expert, pop-ups draw customers into their store and create a memorable experience. It is certain types of memorable experiences that help to create brand loyalty and excitement. These events help create retail experiences that support customers to become brand loyal and spend their money.

2. Create Urgency

When you say that you are open for only a few days, you are creating an impact on your customers to grab it soon. It is demonstrated that excited shoppers are more open to buying than people who look around.

Its Here now, gone tomorrow is a real thing with pop-ups. You can assure that they won’t mind letting you know about it either. Several of the owners or sales assistants will inform you that they are just trying it out for a couple of weeks. “Fast! Get those jeans now; you may never see them again!”

This is an age-old tactic cherished by many retailers and salespeople. If you have ever bought a car from a large garage, I’m sure they will have told you that you need to put down a deposit today, because there is somebody else interested in exactly the same car that has been sat on the forecourt for two weeks until today. Now of all days, someone else wants the same car!

Particularly with a pop-up, it’s not just a tactic; they really will be gone tomorrow. Still, the most sceptical shopper will appreciate that the pop-up will truly not be there next week. Unlike the bulk of stable shops, discounts do not have to be used to generate urgency.

3. Create Buzz and get recognized

When you begin a Pop Up Store, you get a chance to trend better than the retail stores around you with colours, setup and excitement. This will assist you to spread the word around about your product or brand.

4. Cut Costs

Affordability is a huge factor when it comes to renting space in India. You can either make an affordable rental or get cuts in the deposit. Having both is impossible unless you have a Pop Up Store for your product.

5. Flexible Tool

Pop Up shops are extremely flexible when it comes to setting and moving around. It can be accomplished on a moving truck or a small plot in a street. So, relocating the setup is as easy as a food truck bringing you deliciousness.

Pop-up stores tend to profit from their independence. Unlike several of the retail giants, pop-ups do not have to worry about their brand looking the same across all of their stores. This grants them a degree of freedom with their retail display equipment that the majority of retailers do not enjoy. For the short time that the pop-up is on the main street, it can move its displays around as often as it likes. In addition, staff can ask their customers for feedback that can be actioned in a matter of hours, rather than waiting weeks for the changes to filter through the hierarchy of merchandisers and managers above them.

Quirky styling can do phenomena for the experience a customer has. In an age where clothes are mass produced, many of us love to say that we got our new favourite jumper from a boutique or a quirky little shop that was simply there for a month. There is something interesting about being unique, temporary and exclusive. What’s more, customers love to have found someone new. They will love that a pop-up is trialling something and desires their opinion. They will root for a pop-up as though they were an underdog, and appreciate supporting and watching their discovery grow.

Related post: Your space is your leverage!

To sum it all, The greatest 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 delivering energy and serving customers.

If you want to set up pop-up shops you can find spaces on a temporary basis for rental. Myrsa is one such online platform where you can find short term temporary rental spaces in different locations of your choice.

Find spaces for pop-up shops on rent with Myrsa.

February 5, 2019 0

Why rent and not invest in a Conference room?

Meeting rooms are an essential asset and part for every business or organization. Whether you’re a large scale firm looking to meet your clients in a well presented, conveniently positioned and highly functional meeting room or you are simply starting out in a new business and require a meeting room to manage business in or even if you are an entrepreneur trying to network and spread out to like-minded people in a convenient and attractive meeting setting to establish yourself – renting a conference room provides many benefits that can add value to your business.

Apart from a favorable atmosphere to engage with clients, there are numerous reasons why renting a meeting room is suitable than an office:

Privacy

Sometimes you may need privacy in the meeting particularly for high-level matters or sensitive topics and an office environment may not allow you that luxury. Meeting rooms, on the other hand, will ensure that the privacy of your meetings is upheld. It is quite easy to rent out a room wherever you are. Let’s say your client is in Mumbai and you want to meet up to connect and conclude a deal or a transaction, you could easily search for a temporary conference room in Mumbai, and rent a temporary conference room space with the specification and conventions you require.

Save on Expenses

If you are just starting out you will require a professional space to meet or engage with prospective clients and renting a meeting space in India can give you that absolute and perfect ambiance to increase productivity and bring new clients and personnel while saving you capital by not investing in your individual large office space and meeting or conference room rooms before you’re ready.

If you are already in a flourishing business, renting a meeting room, even if you already have your own individual space, in-house, giving out of office workers, freelancers, and contractors, national and international client with a more convenient and centrally located area in the heart of your city, can get you extremely good face to face time with your business associates saving you both travel costs.

Renting a conference room meeting space also offers you plenty of flexibility. By renting a conference room temporarily, you only need to pay for space and time that you will spend to hold your meeting that can be paid upfront as you go.

By renting a conference room, you only need to pay for that space and time that you will spend to hold your meeting. This is cheaper than paying a higher fee for an office on a continuous basis. Not only does it cost less, but the rooms are also equipped with everything that you need for a meeting place saving you on overhead operating costs. Amenities that you will get to enjoy in a meeting room include;

Presentation tools
Conferencing equipment
Sometimes, a staff member to assist you with the preparations

Convenience

Certainly, convenience is one of the important factors when considering renting a conference room. Location can usually be a point of concern when trying to get bigger gatherings together or even small groups with distinct distances between them creating a Hassle for all. It also gives an extremely satisfying working environment than meeting in an eatery or a cafe as many of us do.

Services

Renting a conference room or a meeting space will mean that you will be provided with all the modern and advanced meeting room and conference technology. You will be able to ask much-needed assistance given below that will aiding to build and grow your business, offering a successful air to prospective clients and customers.

Have access to computers and high-speed internet,
Conferencing equipment supporting video conferencing facility, to connect to both domestic and international clients.
High-quality furnishings.
Sometimes, a staff member to assist you with the preparations for the conference.

Focus

When going for short term rental for the Conference room or meeting space, all the odd jobs such as planning and organizing the space will be executed for you. It will also mean you will have adequate technical support throughout your conference and a professional business climate to ensure you and your clients stay focused and on duty, serving on enhancing and building your business or organization.

Myrsa is a solution for all temporary or short term rent requirements for all types of business classes, as the Host can list vacant space in varied categories which is available for short term rent. Businesses can conduct Conference, from the options available as vacant space listed on Myrsa, in any of your preferred locations and have all the modern amenities your customers would only expect from a larger organization. Check the listed spaces and find a conference room ideal for your client’s needs. Sometimes being outside the office can be refreshing and formal.

Whether you are a small start-up business seeing to grow your horizons, or a large multi-national company seeking a fitting location for all attendees or a couple of entrepreneurial freelancers networking together you will save time, money and hassle by temporary renting a Conference room.

January 28, 2019 0

Start Your Business With Kiosk Rental!

In this competitive world full of great giants already established, up and running – you might as well fail if you are a small retailer trying to rent out prominent places.

Next time you’re in a mall, watch around — those little carts you see everywhere can account for 10 percent of the entire mall’s sales. Across the years, this business model has continued to quietly and steadily rise.

Not surprisingly, e-commerce has got on fire and many retailers choose not to have large display floors any longer. Rather, they elect to occupy much smaller physical locations. Malls are also creatively responding to these changes. Once a place for the distribution and storing of goods, they are now a place for numerous experiences. With lots of franchise options out there and short-term renting commitments, it resembles to be the perfect time for entrepreneurs to start their own kiosk business without the need to invest a ton of money up front.

Related Post: How can Short-term Renting benefit you?

So, to stand out in these circumstances and at the same time have a great presence to kickstart your business, you might wanna consider about renting out a kiosk in places wherever you can meet, educate, market and sell your products. Furthermore, getting that perfect space for retail is hard. To succeed in these situations, one can rent a kiosk inside a mall, posh localities, high rise streets or tech parks.

Let’s start with the basics;

1. Deciding your target audience

Picking the right location comes into play when you can identify the target audience. Deciding or identifying the right audience plays an important role not only in choosing your location but also in your marketing and sales of your product. So, recognise the audience you want to target and whom you want to attract.

2. A budget for your Kiosk

Learning to know your budget is really important before you start any business. Consider how much you can invest, how much you can spare on a daily, weekly or monthly basis and what should be your ROI. Holding a clear picture is really easy when you look into someone who is in the same business. You can find different kiosk rental rates in malls in India.

3. Identifying the opportunities

Examine if there are any others doing the same thing nearby and get to know what they are missing out and how you can entice your audience better. It’s always beneficial to open in an untapped market, but we cannot always expect to be the only fish in the sea.

It’s time for some serious talk now;

4. Choose the right location

Even if you want to do a temporary kiosk business, you should constantly look for that perfect place where you can get the best ROI. Picking the right location will help you market and sell your brand better. Always pick a location where you can reach out to most of your target audience. Take guidance from people in business, look for places wherever you can make the most.

5. Temporary or Permanent Kiosk

Kiosks can be rented out for short term or long term depending on wherever they are located. So, determine what you are looking for! Are you seeking for spontaneous attention to try a new market for your product or do you want to have a long term commitment, where you want to settle down? That’s something you have to choose now!

6. Make no mistake in research

Do your research on reality, creating clutter, competitor analysis, leases if any, industry standards, etc.

7. Returns

It’s always useful to have an idea about what to expect and how much to expect from your business, particularly if it’s a small scale short term rental. Without significant investment on the setting up part, you can always predict what you can have in return.

There are more to pick like hours and days of operation, parking restrictions, conducting events, gift certificates and loyalty programs, appearance, etc. We will leave that to you; you understand your business better than us!

Managing a kiosk business is a great way to kick-start your entrepreneurial career. Make starting your own business reality by renting out a kiosk space in different locations for running the high quality, highly profitable kiosk.

Myrsa is an online platform where you can find kiosk on rent in various locations. Similarly, you can rent out kiosk space in malls. Try Myrsa for your business needs!

January 22, 2019 0