Myrsa matches potential short-term tenants with landlords sitting on vacant/unoccupied real estate spaces.
In an age of seasonal and cyclical in-store sales and poor prospects for long-term tenants, Myrsa could be a blessing for commercial real estate!!
Starting a business can cost you your lifetime of savings if you are a small business — INR 18 to 20 Lacs on an average based on industry standards and yet not even half of them will survive beyond 2 years.
How many more businesses could succeed if entrepreneurs could test out their concepts by slashing one of the major costs of starting a small business: securing a retail/service space.
Yet connecting space users and providers for short-term leases remains cumbersome. If we are successful, renting a temporary store will be almost as easy as booking a hotel room.
Myrsa offers a marketplace for short-term retail or service/workspace that makes renting temporary space feel like booking a hotel on MMT or any travel portal.
Myrsa is focusing on allowing renters and sellers to find each other and exchange inquiries and proposals. We locate and curate vacant spaces on our platform.
If online is about convenience, then offline is about getting your product and service in front of real people and being where your customers are. We see the future of retail and last mile service/web-stores going towards temporary leasing and targeted outreach!
Signing up with Myrsa is super easy, theoretically, it is as convenient as booking a flight or a room, with some additional steps to finalize the booking.
The trend of large retailers using temporary spaces to feature or test new products is moving toward small business owners as well who want to try out ideas without committing to conventional three- to five-year leases.
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It’s great news for property owners as well who once coveted big retailers and long-term tenants, but see temporary businesses and exhibitions drawing record crowds, filling up vacancies and even making temporary clients into long-term customers within no time if space works for the tenant.
We believe this model will let landlords generate additional income with unused space while opening up the possibility of a retail store to far more brands, entrepreneurs, service providers, artists, designers and who could not (or would not) sign long-term contracts in the past.
Potentially, temporary stores could also help give physical retailers some of the low-cost agility enjoyed by online sellers such as Flipkart & Amazon (who have led to predictions of the imminent demise of brick-and-mortar businesses).
Retail in India always had roots in short-term retail; it’s coming a full circle.
The urban shopping hubs of India and especially the metros are transforming. We see temporary shops on all our footpaths, don’t we? They are everywhere!!