So, you’ve decided that you want to set up a new business in a commercial space. There are many things to consider to maximize the return on your investment. Even after selecting the perfect retail space, you need to know what it takes to make your business thrive wherever you have decided to situate it.
Check out this blog where we take you through all the steps of being a successful commercial property investor.
Whether you are a direct owner or a tenant, a commercial real estate investment is a stable, secure, and fruitful investment with a variety of entry options. Where you situate yourself is a significant decision, in terms of visibility, last mile access, and overall brand value.
We’ll be looking at what your business can do to not only beat the crowd but leverage it. Put simply, your business environment begins with the realty you choose to set yourself up in, and it should be one of your focus areas.
Being seen amongst other high-value players in a landmark commercial space brings competition but also enhances your business’ prominence. Gurugram has an upscale, urban lifestyle with a large and high-income consumer base, and this is why perception matters.
Your presence in a pleasing, customer-friendly market space with good infrastructure, easy navigability, and connectivity at all scales grows your business and appreciates the value of your realty investment.
If you own a retail store, use the reasons why customers prefer retail shopping to online, despite the growth of ecommerce. Undertake a blend of digital and in-store strategies, such as pick up in store options, incentives, vouchers, and services like extended warranties, in-store repairs and replacements, etc.
Find gaps in the customer experience provided at other shops, outlets, showrooms, franchisees, restaurants, entertainment zones, according to your own business niche and strive to fulfil them in your own store.
Remember that trips to the mall are seen as outings and a fun day for family and loved ones, so be sure to attract customers through events and special sales. Take advantage of the spaces for branding provided by your developer, and make it aesthetic and attractive.
There are other uses of commercial spaces such as warehouses, coworking, company offices, etc. which have their own factors of attracting and retaining tenants.
To conclude, you have to make your in-store experience something that customers and visitors remember and talk about. Select a commercial realty that is easy to get to, satisfying to be in, and complete with every facility, and watch your investment bloom as even your competitors become your ambassadors just by being neighbors!