Tag: commercial space for rent

Office rentals set to rise faster in Bangalore

office space for rent

Even as the Indian real estate sector continues to experience a downturn, cities such as Bengaluru and Mumbai are expected to attract healthy office rentals in 2020, mainly backed by rapid IT industry growth, a study said.

Beating not only Delhi and Mumbai but also Singapore and Hong Kong, according to a survey, the rental office market in Bengaluru is now the highest performing one in the Asia Pacific. While rentals in Bengaluru are now lower than BKC from Mumbai and Connaught Place from Delhi, Bengaluru posted the highest 17.6 per cent rental rise.

Due to the availability of the right talent pool and new office assets at comparatively low rents, multinationals continued to expand robustly, especially in Bengaluru. When demand for office space is expected to increase in 2020, we expect the trend to continue for these markets.

In the first half of 2019, the IT industry accounted for 35% of the total volume of transactions across the top eight cities, most evident in Bengaluru, which recorded a 14% rental increase in January-June (H1) 2019.

Grade-A office rents across the Asia-Pacific region are expected to fall by as much as 3 per cent in 2020, compared to a 0.6 per cent increase in the first nine months of 2019, as occupier demand continues to weaken.

commercial space for rent

Bengaluru’s central business district (CBD) was the best-performing Asia Pacific sector in July-September (Q3) 2019 with 17.6 per cent rental growth, the report said.

Connaught Place’s CBDs in NCR and Bandra Kurla Complex in Mumbai were the 7th and 11th fastest-growing prime office markets in the Asia-Pacific region, with 4.4% and 2% year-on-year rental growth respectively, it said in Q3 2019.

Myrsa is an online platform where you can find commercial spaces for rent on a temporary basis. 

 

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The future of Co-working looks bright

coworking space for rent

The coworking juggernaut in India has had unprecedented success over the past few years. This rapid growth has been powered by the groundbreaking change to a more open, affordable and accessible coworking space in the traditional Indian workspace. Coworking itself had transacted around 2 million square feet of commercial real estate in the first half of 2019; well ahead of the 1.8 million square ft in 2018.

Through 2021, the industry is expected to grow 3X, which will lead to huge opportunities for the country’s coworking sector. Coworking has now built itself as a fundamental part of the CRE leasing operation and as an autonomous full-fledged market, offering traditional office spaces a tough competition.

However, the rising entrepreneurial spirit, which also flows into Tier-II cities, is accelerating this tremendous development. It is projected that the Tier II markets will rise to 8.5 mn by 2020. Therefore, given the strong demand and momentum, it has been able to gain, it wouldn’t be an exaggeration to suggest that the best is yet to come for a segment that is still in the nascent stages of development.

Over the years, coworking has witnessed many new trends and innovative activities fundamentally cooperative and versatile by nature like coworking spaces for rent. Fierce competition and ever-increasing demand have driven many leading players to put on their brainstorming hats to ensure continued market dominance and maintain value-added benefits for consumers. While some clear developments have been discovered over the past few years that have redefined the segment’s future, we also expect the momentum to continue strongly in 2019.

coworking space for rent

Here are the top seven trends that we foresee will become the game-changes in the industry.

Coworking players handholding developers in interactions management

The business relationship between a developer and a provider of coworking space is now no longer confined to leasing the commercial space. Coworking spaces are not only going beyond setting up workspaces and collaborating with developers to allow them to achieve higher returns, but they are also handholding developers by marketing and selling other building floors to customers on traditional lease.

Related Post: How to Choose a Co-Working Space Wisely?

Coworking players are curating unique experiences and commitments to create tenants by providing state-of-the-art facilities such as gyms, cafes, creches and managing the entire building environment by providing occupants with partnerships, activities and community emphasis.

Coworking players trying to co-live

Expansion and market diversity is the secret to any company’s sustained growth. While coworking space providers have successfully bridged the gap in Indian office spaces between supply and demand, this has now also spread to the residential real estate market where millennials are now becoming accustomed to the idea of co-living.

This is a perfect setting for engaging millennials when overcoming the conventional lodging issue with all-inclusive services and community events. While this is still untested waters, in 2019 we look forward to seeing more use cases and measuring their success.

Deeper technology integration

Despite wearable technology and AI gradually taking over coworking spaces and turning them into autonomous workspaces, the conventional desk is likely to be non-existent over the next three years. Intelligent access, intelligent meeting rooms and smart receptions have already been explored to allow cloud-based access, facial recognition and real-time security monitoring.

Related Post: What’s Better? Coworking space vs Serviced space.

Digital assistants, AI-powered ambience, temperature control, and partnerships focused on the touch screen improve user experience. The laptop and smartphone will become obsolete as voice-activated systems, wearable technology including wearable glasses, embedded sensors, and Internet of Things (IoT)-connected wrist devices will take center stage and linking work professionals with fixed desks will become a past.

No flight, video technology and speed of networking would ensure real presence. In reality, artificial intelligence can confirm the shape, size and use of furniture as cumulative data per client.

office space for rent

Rise of ‘work near home’ programmes

The number of people who prefer to live near their workplaces or vice versa is on the rise and “talk to work” is a phenomenon that is picking up rapidly in metro cities as it saves valuable man-hours instead of losing time to traffic congestion for hours while commuting to work.

Because of multiple locations, both inter-city and intra-city, coworking spaces are the option for reducing traffic hours and providing both personal and business benefits. Organizations have been considering the idea of allowing employees to “work from home” to provide more employee-friendly policies.

Due to intrinsic obstacles such as a, however. Home disruptions b. Right network unavailability (high-speed internet, printer, desk space) c. There is a significant loss of efficiency due to a lack of social interactions/peer to peer commitments. It causes more and more companies to consider “work close to home”–enabling employees to work remotely out of shared spaces while accessing efficient office infrastructure.

Related Post: 7 must-have amenities for Good Office environment

Adoption of flexible and mobile solutions

The number of transactions for “just-in-time” use of meeting rooms and flexibility passes has increased three times over the past two years and is rising at a rate of more than 12 per cent per month for most games.

Today, companies are spreading across the country in various geographies and serving customers. As a consequence, it is not always realistic to plan and allow the workforce to work from a few central locations. The current workforce has to be spread geographically and on-the-move according to the job’s demands.

Employees of Millennials and Gen Z are searching for versatility, mobility, teamwork and opportunities to help them work in real-time and untethered. Shared workspaces allow flexibility by providing solutions such as national passes, roaming and bulk meeting room hours to work out from any place at any time, without any reservation restrictions and hassle. Digital offices support small town-based businesses looking to set up a business address or have a presence as their central business districts in larger towns/metros.

Holistic enterprise solutions

Shared workspace providers are working together with running the co-working company to create and manage separate offices for companies. The process starts right from finding an appropriate space for constructing, customizing and providing complete back-end support for office space software and operations. This is a trouble-free way for a company to outsource their “own” office space to plan, build and manage, enabling them to focus on running their business rather than their office.

Platform for collab

In addition to providing real estate options and trouble-free leadership, coworking spaces also provide an ideal platform for participants to exploit business opportunities. The connections are smooth and alliance plentiful with so many different businesses sitting next to each other. Collaboration also often takes place between the coworking space provider and the consumers sitting inside by retailing and selling products and services. Customers receive real-time feedback from the larger community and a chance to test the market with varied demographics.

The change of the workplace has started in earnest and will see some big changes in the next 5-7 years as the lifestyles of people develop, technology advances are taking place at a fast pace, office commute times are growing, and safety and well-being are at the center of attention. This will place the office worker at the forefront of all options for office space.

Finding office spaces on rent for just a few hours has always been a tedious task. Myrsa will help you make this process easier. Find office spaces on rent on a temporary basis on Myrsa.

You can even rent your empty office spaces for a few hours on Myrsa.

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Guidelines to Follow for your First Gallery Exhibition

How do I prepare for a gallery exhibition?

The field of Photography has gained a lot of fame and interest for people all around the world. People are keener to try out new things and are not scared to explore the world all alone. In the early days due to the social rules and a limited amount of exploration, people were unable to experience travelling and meeting different people and exploring the numerous moments of life.

But today it is a totally different view of life experienced without any boundaries of gender, age, language, religion. Many of the photographers are travellers, who travel to various places and capture the most breathtaking moments from different parts of the world.

The society is more interested in the photography today than ever seen in the history, in historic times portrait painting was the only way but was time-consuming, today within a fraction of a second you can click and capture your present situation. People love to visit a gallery exhibition where you get to witness the skill and art of photography. In some exhibition you also get to buy those photographers, this is a great way of income for a photographer or even for the person who organizes the exhibition.

Here are few guidelines one must follow in order to prepare for your first gallery Exhibition:

photoshoot spaces

Choosing a Theme

Quality being equal, collection of random clicked photographs may not have that much of impact than a bunch of photographs which tie up together or are related to each other will. The theme for a gallery exhibition is a powerful way to enhance the mood, increase attendance and attract people. A particular exhibition interesting for me can enhance the overall look and make for the visitors.

Related Post: How to Prepare Successful Workshops & Seminars For Events?

Finding a Space

Spaces matter the most on any occasion be it a wedding, birthday parties, and in this case a first gallery exhibition. While finding a commercial space, space must suit your decided theme; some people go according to their choice or personality. The selected place or space must be comfortable for the visitors, important for presenting your skills in a way to impress them as well.

You can go for well-supported spaces which are famous for the art gallery exhibition, but you have to create and present an out of the box exhibition people have not seen. Also, don’t hesitate to try new places which are not been used before for exhibition, sometimes unknowingly unexpected spaces become the perfect choice.

Cost/Benefit Analysis

Having an exhibition can give you many benefits. When you display your work in public it becomes a great way to get your name out in the community. It can also help you to boost your confidence as an artist. Art is meant to be consumed by everyone and photography is an art. Therefore, it is of no good if you keep it locked in your hard drive.

Now, enough with this inspirational ramblings, let’s talk about costs. The things that you will need to pay for will include frames, printing, cost of the space, any food or drinks that you will want to provide to your audience. Before going on with your plans you should take all of these things into consideration. As tiresome as it may sound you need to make a budget.

Printing

Printing your photos can become very costly. You can use online printing services and save money (especially if they are having discounts on huge orders). You can also print them yourself if you have a printer.

Before you start spending money on print, keep considerations of how much space you are going to work with and how much money you can actually afford to spend on prints.  Having different sized prints can help show some variety in your exhibition.

Get The Word Out

So now you have got all your work is done and ready to go. The next step is to get an audience for your exhibition. First, start with your friends and family, and then move towards hi-tech. You should have no problem letting people be a part of your plan whether it be Facebook, Twitter, any other online communities and message boards and your personal blog or website.

Also, you can consider going for traditional ways by opting public relations and contacting the local newspapers. Contact some photography teachers and invite the whole class to attend.

photography exhibition for rent

Sales

The main aim of your event should not just be to make money in your first showing or second or even most ones after that. If you go into this by thinking of it as your money making attempt, you will be disappointed. But you may be able to recover your costs a little.

Related Post: How has the Digital Era impacted the Real Estate Industry

For this, the first suggestion would be to price your pieces reasonably, but make sure that you are not underselling. Look at the costs that have been put into making a particular frame and then choose which should be expensive. Don’t price based on what you think is best or worst. You can even sell without frames that will sell for a much lower price. This will increase the selling capacity.

Following Up

You should have a guestbook at your opening and viewing period. This will help you collect names and email addresses of people who were interested in coming to see your work. This will help you in your next exhibition and will be much easier to target people.

Now that you are ready for hosting your event follow all these guidelines and get on with your first exhibition.

Myrsa will help you find unique spaces on a temporary basis. Find spaces on an hourly or daily basis and make your exhibition one remember. Find spaces that are closer to you.

 

 

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A Complete Guide On How To Open A Food Truck In India

food truck parking

Food truck business has been flourishing in India and has been gaining popularity as a concept. Previously the main focus was in CBD(Central Business District) areas of the metropolitan cities like Mumbai, Bangalore, Chennai, Kolkata, Delhi, and NCR.
Here we will take you through everything you need to know about starting a food truck in India.

Let’s start with these things:

1.Vehicle

The most important part of the business is a truck. Initially, you can start with a second-hand food truck and the vehicle running would be a bare minimum. At a later stage, you may invest in a new one. It might cost approximately 4-5 lakhs when buying a food truck.

2.Equipment and Raw Material

Next most important investment required is in essential kitchen equipment though it is a one-time investment for your truck. Essential types of equipment may include oven or stove, utensils, cookware, cutlery and few appliances like fridge, chimney, etc. When all the equipment put collectively would require an investment of around INR 2 lakhs. You will require an inventory stock of ingredients or raw materials to prepare the meals. That might cost you around INR 20-30K initially.

food truck parking

4.Staff Recruitment and Marketing

You will require to pick a few employees to manage and handle the daily operations of your food business. Fortunately, in India, expenses of using a support staff are not that huge. You can consider keeping aside around 13-15K per month per person.

Like any other store, sales will grow only if you are advertising and promoting your food business the proper and right way. Marketing would involve both offline and online publicity and can require you to spend a lot of money. You should keep at least 20k aside for the marketing of your business. Over and above your everyday operations, you should consider establishing a few tie-ups and cater to events, corporate festivals and more, such activities act as a marketing strategy.

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

5.Licenses and Permissions

Like any other restaurant, even food truck requires all the valid consents and licenses as per the government norms. Nowadays illegal food stalls or food truck running with permits and licenses are have been banned or eradicated from various cities. Licenses that are compulsory to run a food truck are as follows:

  • FSSAI License

Any food business including food trucks with gross revenue of more than Rs.12 lakh in India needs to have the FSSAI license.

  • NOC from Fire Authority

As food trucks deal with a lot of gas appliances, having a NOC that is the No Objection Certificate from the Chief Fire Officer is obligatory.

  • Permission letter from the local municipal body

When you will zero in on a location for your business premises, you would need to get a written document, stamped by the local municipal body to start setting up.

  • Vehicle license

A vehicle license as per the RTO of commercial vehicles is just as you will be operating out of a commercial vehicle, a license for the same must be issued by the RTO of commercial vehicles.

food truck parking

7.Location

Your food truck will manage well only if the location is good. So while selecting the location Keep the following factors in mind while deciding to find spaces for food truck parking

Vehicle Parking

A truck would require a sizable volume of open space or parking spaces for rent. Also, you need to assure that you are authorized to park a vehicle in a precise area. You could check up with the confined municipal authorities about this.

Visibility

You should determine an area which is often visited by people. Select areas that might be outside or close to popular parks, movie halls, and universities. The is a tendency of the food business to flourish in such areas. For E.g These days food truck business is flourishing Central Business Districts, especially during Lunch hours.

8.Health and Hygiene 

Food trucks usually work in very small areas. Owners must be very careful of kitchen hygiene, air pollution levels, and food waste management. Checklist related to health and hygiene are as follows:

  • Perform the use of chimneys to check air pollution.
  • Keep a check on the food waste twice a day and maintain a clean cooking area.
  • Assure that your team or staff members keep good sanitation.
  • Put a few dustbins near the food truck.

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

9.Brand Creation

A restaurant is as great as how it clicks with people. People love connecting with unique stories. Try to connect your brand with a unique story. Consider the following points to build a strong brand.

  • Finalize a target audience
  • Do competitor research:
  • Finalize a name
  • Finalize a logo and a theme

10.Adopt Latest Technological Trends

These days digital marketing has been playing a very crucial role in the success of any business. The reason being is people are now becoming more techno-savvy and are using apps, websites to order food or research any food brand or restaurant before visiting. People order as per the reviews, coupons codes, discounts, and offers.

So good marketing and promotions will determine the success of your business. Following this in mind, we will point out some ways you could promote your food truck, both online and offline.

  • Have your own website and app.
  • Tie up with online food ordering aggregators like Swiggy and Zomato. Here’s the complete guide to getting you started.
  • Develop a powerful Social Media presence.
  • Run online advertisements.

Myrsa is a portal which caters to businesses looking for temporary space on rent for food trucks and allows the host who would like to list vacant space for rent to earn extra income.

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Essentials to Open a Dance Studio

dance studio

When you dance, your purpose is not to get to a certain place on the floor, it is to enjoy each step along the way – Wayne Dyer

Dance has foremost importance all over the world. People love to participate, watch or explore dance as an emotion, especially in India it has said to have origins from the period of Vedas, which is dated around 1000 B.C. Also in Hindu Mythology, it has great importance, a dance by Shiva which is well known as Tandav destroys or creates the universe. It is a feeling or an emotion that can be expressed by humans and that is how different dance forms are created.

Related Post: Learn how Startups Benefit from Flexible Office Space for  Rent

Today it has taken a totally different turn, it is recognized as a business, competition, a way to your fitness. The Bollywood dance form has encouraged mankind everywhere in the world to be a part of the joy, celebration on totally another level. A sense of unity is found in it, it can be a way to provide physical as well as mental refreshment and relaxation. It can be a great mode of exercise, motivation, inspiration. Through dance, a bond is shared even between strangers.

Opening a dance studio or a dance academy is the top best business opportunity. If you are thinking of opening a dance academy, this blog is going be very useful to you. Here are some important head points to be considered while opening a dance studio or an academy.

Renting studio 

Renting a business space provides more flexibility to the business as it grows, flourishes. Buying a studio can be a big commitment and we have to carefully consider, renting a studio is a better option. While starting a new business you have no idea about the future, so at first, we have to take baby steps while opening a dance studio. By renting a dance studio you are not locked into property ownership as well as you can adjust your requirements with your landlord.

temporary on rent

 

In emergencies you can end your lease or in case you are going to relocate. Renting also helps you in space negotiation and lets you enjoy financial benefits. You can find your desired space for business on any online property platform. Myrsa is one of the online platforms where you can find perfect desired studios for your dance classes. It helps you to find spaces for temporary uses, connect with different brands and discover locations to grow your business.

Find a Good Mentor

Find someone who you respect and look up to to the mentor for your dance studio. It is not necessary that you have to find someone you can your self be a mentor if you are known to a dance form and are confident enough to teach your students. Today social media has been a great help in situations like these where you can connect with talented people. There can be numerous dance professionals around you who can help you by being your mentor. Attractive social media posts about your dance studios can assist you to connect to dancers.

Related Post: Event Venue – Problems faced by Event Organizers

Have a Plan

It is a crucial part of every startup, be it a commercial business or a dance studio. you have to prepare a plan about your working, your placements of the studio. It will be extremely helpful for you if you already have a group of people who are ready to take a class there. Always remember we are living in an era that is ruled by social media, so do not hesitate to make profiles on various sites and build networks. This way when you are all prepared and ready to launch, you already have a supportive audience. It is also important to look after space and planning all your operations, where your music system will be placed, your office room, changing rooms, restrooms everything must be considered while planning.

commercial space on rent

Entertainment and Relaxation

As said earlier dance is an emotion, it an expression which is expressed by mankind. People enjoy dance, participate in it as a part of entertainment and relaxation. Providing entertainment and relaxation only to your dance studio should not be your only goal. There are people out there which are not connected to you but can be your audience. Create a Youtube channel and post your dance studio workouts to create excitement and popularity around. This way your reach will be enhanced which will result in more gains for you. 

Don’t let your stress get the best of you 

Following your dreams can sometimes give you a hard time of your life. It makes you crabby and difficult to be around, which is caused by stress. But always remember, to never be unpleasant with the people with whom you are doing business. People you hired are working to make your dream a reality and running to make it a success. You should always be a person, easy to talk, to communicate without any hesitation. This will make your business work smoothly and with great performance. Your own attitude and ego are your enemies in your business, keeping your mind calm and working accordingly is beneficial. Always remember why you wanted to start this business in the first place, stay motivated and achieve all your targets.

 

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Learn how startups benefit from Flexible Office Spaces For Rent

office space for rent

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

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

1. Increase Productivity 

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

Related Post: Key Factors to Consider While Choosing a Commercial Space for Rent

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

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

short term office spaces

2. Improve Networking

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

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

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

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

3. Improve team morale

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

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

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

office space for startups

4. You Get Professional Services

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

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

5. Reduce your costs

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

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

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

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

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Key Factors to Consider While Choosing a Commercial Space for Rent

commercial space for rent

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

Price

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

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

Related Post: Event Venue – Problems Faced by the Event Organizers

Location

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

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

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

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

find short term rental spaces

Accessibility  

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

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

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

Ambience

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

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

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

Services and facilities

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

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

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

Time Period

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

commercial property for rent

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

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

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