How short term rentals are taking over the market!

short term rental

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.

office space for short term renting

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.

temporary renting

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!

0

Renting a Retail Space: List of things to consider

retail space for rent

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.

short term rental

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.

Related Post: Test out new markets with no long term commitments!

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.

find space

 

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.

0

Test out new markets with no long term commitments!

short term rentals

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.

short term renting

Through market testing, you can:

  1. Test out price sensitivity.
  2. Try new styles- does it fit on ‘all’ body types.
  3. Open up customer reaction outside of friends and family.
  4. 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:

  1. Assortment Planning. 60% Key Brand Styles / 40% New Styles/Fabrics
  2. 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.
  3. 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.
  4. 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.

retail space for rent

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.

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!!!

0

Why Is The Popup Retail Trend Better?

Short term rental

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.

shops on rent

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.

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.

0

Why rent and not invest in a Conference room?

conference rooms on rent

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

conference rooms rental

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

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

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

conference room for rent

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.

Related Post: Give your empty retail space for rent!

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.

 

 

 

0

Start Your Business With Kiosk Rental!

kiosk on rent

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.

kiosk rental rates in malls in India

 

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.

kiosk for rent

 

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!

0

E- Retailers Should follow this approach to grow!

mall space for rent

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.

mall space for rent
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.

mall space for rent

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!

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

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.

0

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

cafeteria space on rent

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.

cafeteria space on rent

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.

Related Post: Best Ways To Use Your Empty Parking Space!

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.

Related Post: Your Empty space can turn to someone’s Event venue

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 space on rent

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.

0

How can startups benefit from Myrsa.in?

retail space for rent

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.

retail space for rent

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.

retail space for rent

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.

0

How can Short-term Renting benefit you?

short term rental

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.

short term rental

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

short term rental

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.

Related Post: Ways You Can Turn Empty Shopping Centre Unit Into Success

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.

0

Proudly powered by WordPress | Theme: Baskerville 2 by Anders Noren.

Up ↑