What activities can one perform in an empty space?

The increase of empty spaces around got us thinking about what can one do or perform activities in an empty space by earning extra revenue. We came up with a lot of ideas for empty spaces that we can share with you in this blog.

You would have an empty space that you had brought a while back and now it is just empty. Now the question is how can you make use of the empty space?

The standard answer to this would be a pocket park, a little green space, a bench or two, or maybe just that. But apart from these, there is much to do.

Here is a list of activities to do in an empty space

Make an event space: Maybe you can set a little stage indoor of the empty space for students to hold performances there. Just installing a stage doesn’t mean anything that it is of no use. Dance classes can take place by experts in particular slots for the same.

Let people decide: One of the other options would be if anyone with their own choice of using the empty place would approach you. Maybe they would want to run a dance class or arrange for a business meeting or event.

Office meeting space: You might need a separate space for a while at some point of your week for special office meetings like discussing with the clients, presentations, etc. Your office might have a different room for it but client meetings call for a special empty space.

Clubhouses for rent: With an empty space like a clubhouse, you could make the best use of it by conducting some of your best talents like dance classes, singing classes, art workshops, general workshops, etc. By that society, clubhouse would earn extra revenue and you would get an opportunity to grow your business.

Open grounds for rent: When we talk about open grounds, we mean open spaces that are best used to grow your business by utilising it for different activities like sports practices, karate classes, football grounds, etc.

Open hall for rent: Open halls are best used for events for special occasions and business events. This will give you an opportunity to increase your business by conducting these special events on such open grounds.

Empty cafeteria: Indoor eating is considered the best especially during monsoons. Different types of the eatery can be kept in the empty cafeteria for everyone’s entertainment.

Empty studio for rent: Studios can be used for different dance performances, music classes, instrument playing, etc. By performing such activities, you can earn extra revenue and grow your business at the same time.

Bottom line

You can go out and look for empty spaces but going out can be a bit of a hazard. Online listing websites like www.myrsa.in can give you an opportunity to earn extra and help you grow your business.

Want to Earn Revenue from an Empty Space?

June 22, 2021 0

Petrol Pumps: Your One-Stop Destination to Advertise

No matter where you live, transportation is a very important aspect of your life.People usually travel depending on their convenience and how much they want to spend. After the COVID-19 pandemic, everyone has been wanting to buy their cars so that they can travel safely without the hassles of travelling in crowded public transports. Almost every car runs on fossil fuels like petrol and diesel. Depending on how much your regular commute is, you visit a gas station to refill your fuel tank. For some people, a gas station would just be the place where they can get their tank
full and leave. But automobile enthusiasts always look for great products that can supplement their driving experience.

Many brands of synthetic oils, batteries and local garages advertise at gas stations as that’s a convenient place to gain the attention of vehicle owners. Brands also set up kiosks and pop-up stores at gas stations for attracting consumers to buy products quickly. It not only helps brands to make a quick sale, but it helps them in promoting their new product line ups. Various foreign brands have entered the Indian market through marketing at gas stations as their first move.

Related Post: Malls not just for enjoyment?

Brands like Shell, Castrol, CEAT tires and Exide Batteries partner with
companies like Hindustan Petroleum and Bharat Petroleum to maintain their brand presence all across India by advertising at gas stations by setting up pop up stores and kiosks. They also have sales representatives who are continuously on their toes to cater to customers so that sales can be fast.

All of this is possible only because gas stations rent out spaces to brands
temporarily for advertisements. This helps them in making extra money and also helps brands to reach out to their target audience whether it’s a long road trip, a local commute or a remote area.But marketing options might be a hit or miss due to some factors which include not finding gas stations that have empty spaces for rent temporarily. Space is always available, but what if you had access to all these temporary spaces at gas stations at your fingertips? Well, you’re in luck, as we know just the thing you need.

Related Post: Grounds: A vast area for many businesses!

Myrsa is a platform where you can find thousands of temporary spaces at different locations according to your convenience, whether it’s a gas station or a parking lot, get a temporary space where you want and when you want. All of this at your fingertips seems like a dream, right? Your search ends right here.
Log on to www.myrsa.in and know how easy it is to get a temporary space hasslefree.

March 4, 2021 0

Yoga – Peace of Mind and Space

The life we live in drips with comfort and all the necessities at the tip of our fingers. Even with such easement, why are we not satisfied? We just want to have everything all at once because of which the reassurance of this lifestyle is not keeping us happy. Thus, yoga plays a pivotal role in maintaining one’s body, mind and soul. Yoga as an exercise is very beneficial and especially the lifestyle,we have chosen for ourselves, yoga is something everyone can practice and even preach.

More and more people are becoming aware and moving towards learning and teaching yoga. Yoga as a profession has risen over several years. People teaching yoga are taking it up as part-time activity not only to stay fit for themselves but also to motivate others to be as fit as a fiddle.
But with so many learners and teachers, won’t we need some space? Since Yoga is not a conventional job where you teach everyone from 9-5 every day as people usually prefer doing it in the morning, a place like a yoga studio becomes a costly affair. The cost does not only include the rent or buying charges but also the maintenance and bills add to the expenditure. Isn’t it a futile practice to optout for spaces with a long lease period?

What’s the solution?

Thinking about some creative solutions to overcome this problem we will have to dwell deep into this world of renting out temporary spaces. Temporary spaces not only reduce the load on your pocket but also provide you with the flexibility to choose from a wide variety of spaces that you can rent for a short period or a fixed set of hours daily. The cost of renting a space for a small duration would mean less expenditure on the rent and more on the quality of the services offered.

A society garden or community garden is a great place to rejuvenate yourself from all the burden of the tasks lined up for us. This can offer as a good opportunity for the conduction of lessons with more and more people joining the class each day. A society garden can rent out its space for the conduction of such sessions and earn easy money.

Not just a garden but thinking about an offbeat place we can also conduct
classes in a Banquet hall. Who would have thought of that right? But whenever there are no weddings or events taking place in the hall why can’t we utilize the space and resources which are ultimately going waste into something which will keep us healthy and fit. With the cost of renting low to the instructor, the owner of the place can easily put the space going waste to some good use.

If we can think about conducting classes in a banquet hall, why can’t we ponder upon the thought of having them on a dance floor in a pub? Funny right? But coming to the very thought and essence of it we might make use of the expanse available. A pub is non-operational in the mornings so why not use them for something to build a life worth living. We could not even imagine that such places could be put to good use and with that could also fetch us money!

At Myrsa, we help you find temporary spaces for rent with the ease of just
clicking on our website, searching the options suitable for you, and helping you rent your own space at your convenience! Not only you can choose the spaces that you want to start your yoga classes but if you want to go ahead and give your own space for rent, you can just list your space and watch it grow money for you.

Stay tuned. For more log on to www.myrsa.in.

February 9, 2021 0

Key Factors to Consider While Choosing a 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.

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.

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.

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!

May 14, 2019 0

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

Retail chains are closing at a high pace, and empty spaces in malls are piling up. While many businesses are closing down, mall owners are now looking for new ways to fill up these empty spaces. Now, if malls want to remain viable then owners have to turn to other ways to keep their open spaces running. This has now started to happen and malls are now planning to relook at the ways they can earn money. This has led to a transformation in the way of renting out mall spaces.

Kiosks and Popup shops turn out to be the best way for malls during the holiday season, but now it has turned into a more often happening.

If you have been thinking to take your business offline but have always been putting the idea off because of the cost and commitment, kiosk or pop-up shop could be the solution.

A popup is a way for business to easily manage their activities because it is of all sizes and budgets to test waters before getting into the market.

Having a physical space can help you meet customers in real life and put your brand story in front of them. It is a direct way to encourage sales and despite the rapid growth in the online sector only a small amount of people think they are safe buying online.

In this blog, you are going to learn about how empty food court space for rent can help you in your business. How to find unique spaces for rent like these and how you can increase your reach with food court space for rent.

Food court spaces are one of the spaces in malls that have the most ongoing activity. You might never see a food court that is not filled with a group of people. Everyone who goes to the mall makes sure that they attend the food court to fulfil their hunger. Now wouldn’t it be wonderful if you could get a small food court space to promote your business brand?

How will you find such spaces?

You might think that for this you might need to email the manager to take an appointment go up to him and then have a proper meeting about a small space. This is a very long process for showcasing your brand for a short period of time.

Thanks to the internet, online platforms like Myrsa.in provide you with unique spaces. You can find food court spaces for rent on a short term rental basis on Myrsa. Rent starts to form a few hours in a day to a few days.

You just have to look at all the spaces that are ready to rent and that too according to your suitable timings. If you want to find such spaces you can even send requests to certain businesses to provide you with such spaces. Everything will be online so you don’t have to waste your time. The temporary renting programme makes is a part why everyone would prefer to choose this.

How can this help you?

Setting up a pop-up shop or a kiosk in these areas is a win-win situation in every aspect for you. Cost reduction and also increment in profit or exposure of the brand name, brand awareness etc. Popup shops are sure to generate you a lot of ROI. In the sense that it costs low.

Even kiosks are a small space taker but can make a huge impact on businesses. Suppose you have a new food brand or even a new food product, you can then set up a small kiosk in the food court area.

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

A proper marketing plan will get you a lot of new customers and satisfied customers. This can also help in improving the word of mouth awareness. Providing free stuff to people also when they are hungry can be a good way to turn their hangry mood to a happy mood. This will make them relate you to the feeling of happiness.

Online brands who plan to increase their brands offline should start by testing out the markets by placing small stalls. This is a great way for you to look out at the perfect market to put up your physical store.

Brands who would like to expand their businesses can find out which markets would be ideal for them. Myrsa will help you to find spaces on a short term basis. This will assist you with the analytics.

One significant consideration is foot traffic. Is the neighbourhood or street you’re analysing a high-traffic area? Are there loads of people walking by the location you’re scouting—and, most importantly, are those people your target customers? Your answer to this would be a YES if you are looking for food court cafeteria space for rent.

Go on and find short term spaces for your businesses!

April 18, 2019 0

How to find your ideal Cafeteria space for rent?

Discovering a prominent location for a new cafeteria offers many challenges. Is it a reasonable size? Is there sufficient traffic? Can you afford it? What is the owner like? Does the location have a record of failed cafeterias?

Here are tips to help you find just the proper place for your new cafe.

Do Your Restaurant Market Research

Before you even begin looking at any kind of restaurant space to rent, firstly do your homework: is it the perfect area to open a new restaurant? Knowing who your possible customers are and where they reside will assist you to tailor your restaurant idea accordingly. Conducting market research for a new restaurant, because it can inform you of the income range of a possible restaurant location. Will there be adequate people, with fairly expendable income, to contribute money at your new restaurant? If the response is no, then move on to a different location.

Be Flexible When Looking at Restaurant Spaces

Restaurant spaces appear in all shapes and sizes, from teeny little hole-in-the-walls to big sprawling cafeterias. You apparently already have a genuine idea of the type of restaurant you desire to open, and what it will look like indoors. Nevertheless, the perfect space may not, at initial glance, be what you envisioned. So be prepared to redesign the restaurant in your head to fit a vast space. Bear in mind, more often than not great restaurants don’t make a location, a location makes great restaurants.

Do a Landlord/Location Background Check

Once you’ve picked a cafeteria space, discover as much as you can about your possible new landlord. If there are other businesses in a similar location, ask different business owners if the landlord is easy to operate with and if he addresses obstacles quickly. You can moreover ask about the pros and cons of the location, as well as their opinions on a new restaurant going into the building. Of course, take everything other renters say with a grain of salt. If they believe a restaurant is a fantastic idea, learn, it’s their opinion, not an actual fact.

Know Your Budget

You may discover the perfect place to open a new restaurant, however, if the rent is out of your budget, don’t get extremely attached. Just like you wouldn’t rent an apartment you couldn’t afford, the equivalent is true of renting a restaurant space. The initial years of a new restaurant are normally pretty tight, financially so over-extending your budget before you are even open isn’t a good idea. However do in keep in mind that restaurant rent can be negotiable, which guides us to…

Don’t Be Afraid to Haggle

Possibilities are your proposed landlord doesn’t want his or her prime real estate vacant for long and may be ready to haggle at the cost of rent. General rent negotiations for a new restaurant involve not paying rent at all until the restaurant opens for business, pro-rating rent. You may spend a very low rent the first year of the lease, then slowly raise it each year thereafter.

Know What’s Included With Rent

Is heat, water, electricity covered in rent? What about garbage removal, building repairs, and general maintenance. Your cafeteria rent should specify specifically what expenses your owner will cover, including any required renovations, and what expenses your restaurant (that means you) will be responsible for paying.

Related Post: Why Is The Popup Retail Trend Better?

Have an Exit Plan

How long is your restaurant lease for? Two years? (good) Five years? (hmmm) Ten years? (run away). Before that, there are also shorter options for you. From a few hours to a few days or a week. You can have your restaurant set up and try if it is the perfect location for you. Myrsa is an online platform that provides you with different locations for short term renting of your restaurant. Test different markets and then choose the one that is perfect for you before investing so much on your rent. You can find your ideal cafeteria space on rent on this platform.

No one desires to think concerning their restaurant closing, at least not before they are even open, but the fact is, a majority of new restaurants stop within an initial couple of years. So, if for nothing else but for the calm of mind, keep your lease as small as possible. If things are going along smoothly after year two or three, then sign on for a longer lease.

March 26, 2019 0

How short term rentals are taking over the market!

As the technology changes so do the beliefs of the people and businesses. Current technology is fast and wants to cover a large kind of audience. This transformation has caught the eyes of new businesses everywhere. Whether you are a traveller, a businessman, a landowner or a homeowner you would have noticed that everyone is travelling at a swift pace right now. This has led to the emergence of short term rentals. This has also led to a change in how people generate income and how they will, for future prospects, invest in their businesses.

From the retail industry to real estate, experience has become the most significant part of any business to provide. In search of new experience, travellers have been emerging and adding to market growth. This has led to the growth of the economy in double the rate. As more and more travellers are rising the food and beverage industry has also been growing a lot. Studies show that 44% of people prefer eating out. For this, your business needs to be where the people are. This expanding demand, audience size, sections, and competition have ended in the progression of consumer behaviour, preferences, and expectations, triggering an entirely new set of global, digitally related possibilities in the hospitality marketplace.

Airbnb is leading the market by having more than 4 million properties in over 65,000 cities, combining more than top 5 major hotel brands.

So What are short term rentals?

Short term rentals are usually based on the time length of renting a particular property. Vacation rentals are a kind of short term rental. Also, this has gone as far as even renting out for commercial properties. The acceleration of pop-up shops in malls an even commercial complexes has made it prominent. A short term rental typically starts from a few hours and goes up to a few days.

The flexibility of the short term renting makes it suitable for the tenant. The properties provide you with all the amenities that you need and help you in cost-cutting. For the landowner, they can increase the price of property whenever they would like and also rent it out on a time that is suitable for them.

Platforms that are based on Short term renting-

Airbnb- Your Vacation Rental Platform

Find unique places and experiences with this website. This is a platform that can be used to rent out homes for a short period of time. This platform has grown so much in just a small period of time. You can find all the different types of stay rentals in different areas. It has now become a Millenials favourite spot.

We work- Coworking and office space

It has a global network of workplaces that you can rent for a short period of time. Meeting rooms, office spaces, private office, conference rooms and also event spaces can be found on this platform. Find comfortable shared office spaces and keep the work going.

Myrsa- Temporary Renting of Vacant Spaces

Myrsa.in has everything that we work has and much more. This is a website where you can find short term renting of commercial spaces whereas you can even find a retail or any kinds of spaces for any kinds of activities. Here the renters can rent out any extra space to the brands that would require them. The most popular spaces would include parking spaces, garden areas, clubhouses etc. Brands can use these kinds of spaces for any of their promotional activities or people can use these spaces for events or celebrations of all kinds. Spaces for popup shops in malls or kiosks spaces can be easily found over here. It has a vast variety of activities and also a huge variety of spaces. You can visit the website to know more.

Growth Drivers of Short Term Rentals

The rise of the Sharing Economy: Retail space sharing isn’t new. Sharing economy means to share or rent out something that is not in use. A property that you own but there are some spaces that are of no use to you or they cannot even generate any income for you. Some of the businesses selling complementary products end up sharing more than just the space. These spaces can be of use to many other businesses even the smallest of vacant spaces can generate you income. Utilizing them for generating extra income can be a great idea. There has been a lot of growth in these types of economies in different sectors like travel, car sharing, rent sharing, finance etc.

Flexibility: Short term rentals are extremely flexible. In many cases, they start from a period of a few hours and can go up to a few days. Vacation rentals are of a similar kind and if you are a commercial property then you can rent them out after hours or on the weekends. It is up to you to decide when you can rent out the property and this makes STR one of the primary reasons for renting. Seasonal brands, seasonal cafes or and many other retailers can make use of the STR and have their own shops set up everywhere.

Value for Money: The average cost of a vacant property on a short term basis can generate a lot of income than what a long term investment would give. With a wide selection, from places with high visibility to a small space, affordable places have become easier with the STR properties. They are now becoming primary choices for many.

Rental Property Investments: The preference of the millennials and the generation x demographic for rental properties over ownership has succeeded in rising rental yields and sustained demand growth for investments in real estate rentals. Also, pop-up shops are a trend that millennials intend to follow.

Popup-centric Technology Platforms: Popups are becoming extremely popular to reach out to different audiences. Millennials love this idea and brands want to impress the millennials through this. Every brand needs to have its own pop-up shops in different places. Testing out markets becomes easier through these platforms as you can have different popups in distinct areas for a short period and find out which one is the best to invest in. Also, the phrase “here now and gone tomorrow” makes it more desirable for the consumers.

Wider reach: Business owners can easily increase their brand reach with the STR programs. You can open up a number of shops at a point of time and it helps you grow further with your audience. You don’t actually need to have to invest in the property essentially, but can still have your brands at all the different places.

The STR marketplace has brought a change in the definition and meaning of property ownership by disrupting the long and traditional way of hospitality. This has given a new way to earn income from the real estate ownership business. It is now a thing that no one chooses to ignore and adapt it to their business as soon as possible to make the most.

Adapt to this new way to carry out your business and utilize all your spaces to the fullest by monetizing them!

March 6, 2019 0

Renting a Retail Space: List of things to consider

Finding the appropriate retail space to rent takes time and patience. The space becomes a fundamental part of your brand and, of course, the location is significant. Before you decide on a spot and open a storefront, you’ll want to front load the process with some strategic research and thoughtful planning. The more planning you do now, the more you’ll set your business up for victory in the long run.

Discovering the ideal neighbourhood, making sure rent fits your business budget and evaluating the proper square footage are all key steps. Here’s a clever guide to navigating the world of commercial real estate with a keen eye for detail and the appropriate frame of mind.

Your retail space is an integral part of your brand image.

Define Your Budget

Every project starts with a budget and identifying how much and the type of space you can afford up front can spare a great deal of time and hassle. It’s prudent to keep your rent payment in the range of 3% to 8% of your gross revenue. The averages for each industry differ depending on the role the retail space plays in the overall business strategy. Electronics stores, for example, typically put a lower percentage of sales toward their lease (around 2% on average) than clothing stores (around 8% on average). Figure out this percentage by dividing the annual rent payment on a space you’re considering by your gross annual revenue.

Knowing your budget before you begin searching for the perfect space will save time and hassle.

Figure out How Much Space You Need

To determine your ideal square footage, map out the several workspaces and other areas that your store will require. Examples comprise the sales floor, inventory storage space, offices, kitchen, bathrooms, and dressing rooms. Now measure your square footage needs for each one of those spaces and add together for your total square footage.

Traditionally retail sales floor space is measured using industry research and this formula:

Making these estimations beforehand can help you pinpoint the properties that are the best match within your budget.

How to Pick a Retail Location

Choosing the right location can seem like rocket science. In a simple world, you just require to be where your ideal customers are, or you need to make it accessible for those customers to get to you. Once you have that covered and have narrowed down your preferences to a few options, it’s time to drill a little farther and do some comparison.

Begin with the most straightforward comparisons first:

Rent expense, including utilities
Amenities available, such as security
Parking availability and public transport nearby

The cheaper space is not sufficient if your customers don’t have easy access to your store. Analyze how customers will get to you and factor in the hidden costs of an unsafe area in lost sales.

Then move on to the more complex comparisons:

Size of the neighbourhood/area and its demographics
Nearby businesses and the foot traffic they’re likely to bring
Local Competition (consider both the pros and cons of this)
Compatible Businesses (think college and pizza shop)

If you sell to a targeted niche, you may not depend much on foot traffic, but it’s still significant.

Competition can mean a proven location in many cases, so it’s not evermore a bad thing. Businesses nearby whose services are corresponding are worth their weight in gold. Also, businesses like a big supermarket that will drive a lot of foot traffic can be important. This idea forms the source of most shopping centres that have an anchor store on which the other stores will depend on traffic.

When you estimate your rent expense, all of these revenue-influencing factors should be a part of the decision.

Scouting Spaces: How to Find Available Rentals

Above all, when scouting out possible spaces, always keep your ideal customer in mind. Are they somebody you see shopping nearby or walking and driving past the site? Is this an area where they are satisfied spending time and where they already spend money?

If you want to start out on your own, look for websites that provide you with all the nearby rental options. Myrsa is one such website that you can use for your scouting.

Myrsa provides you with all the different types of retail spaces for rent. You can find short term rental spaces and try out different localities for your business. Choose the perfect location for your business. From small spaces to spaces with all amenities nearby filter out your search and easily find spaces.

Related Post: Why Is The Popup Retail Trend Better?

Final Thoughts

When searching for the perfect property for your retail business venture, keep your brand and the customers that your brand was designed to serve in mind at all times. A good fit for your clients will be a good fit for your business.

In this fast-paced and ever-changing society, location remains as important as it ever was to the health and well-being of a business. Plan for the appropriate amount of space at a price that fits your budget from the beginning.

February 19, 2019 0

How can Short-term Renting benefit you?

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

THE PROBLEM

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

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

Related Post: Give your empty retail space for rent!

THE SOLUTION

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

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

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

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

Reach and surpass your business goals:

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

Advantages to a short-term lease:

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

Available opportunities:

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

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

Parking lot space:

Tent sales
Fireworks sales
Christmas tree sales
Garden centres

Events:

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

Signage & Sponsorships:

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

Environmental & Wireless technology:

Solar panels
Small cells
Cell towers
Donation Bins
Recycling Bins

All short-term deals require the following:

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

Advantages of a Short-Term Commercial Real Estate Renting

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

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

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

December 1, 2018 0

The many talents of the space you own!

You read that right. With Myrsa, you will gain irrespective of whether you are a Space Owner or a Space Seeker.

You are a Space Owner when you have an empty space listed on Myrsa and a Space Seeker when you are a brand looking for a temporary space or location.

For a Space Owner, Myrsa has a lot of ways of monetizing your space. Space can be any kind of area or location that is usually vacant. Your unused parking, unsold shop, open garden or lawn of your farmhouse, the lobby of your office complex and the list goes on.

The stilt parking that you don’t use when you’re at the office, can let multiple bikers park their bikes/cycles safely and pay rent for that many hours to you. Sounds easy? It is even easier in practice. Upload some pictures of your parking with the details on Myrsa and open the time slot according to availability. When you go out for a trip of multiple days, you can simply extend the time of availability and keep earning without any extra processor heavy paperwork!

If your school/college has an auditorium, think how many days a year it is used? I’m sure not more than 100 out of 365 days. This auditorium is the best low-cost theatre for budding artists who cannot afford to book famous theatres. A smaller ticket size attracts an audience! The same plan works for assembly halls and classrooms as well. Extracurricular activities and competitive exams require extra lectures. Once you have listed your rooms on Myrsa, teachers can book the classrooms after academic hours and hold their classes there. The school environment and equipped classrooms are the best for children to concentrate on their lessons. The teachers find it pocket-friendly to rent classrooms for required hours rather than paying big sums of yearly money.

The atrium or quadrangle of your office complex can let a food truck be there for few hours a day during lunchtime or evening. You will earn rent out of the otherwise unused space while the food truck owner has his parking problem solved! The people working, too, get great food at their office-doorstep!

A lot more spaces are available around you and Myrsa enables you to make the most of it! Stay tuned for more ideas!

February 5, 2018 0