virtual-tour
Phone
Enquire
Shop

Checklist for Buying Small Shop For Sale in Chennai

Checklist for Buying Small Shop in Chennai
0 Comments
January 28, 2022
Market Of India

Blog Summary:

Are you interested in buying a small shop in Chennai? Well, finding the best space which suits your business model is pivotal. Here is a checklist for buying a small shop in Chennai to ensure that you make the right investment.

Small Shops For Businesses

Small businesses are popping up everywhere, and there is a great demand for small shops. According to National Action Plans on Business and Human Rights, there are nearly 400 million small enterprises around the globe, and small shops are literally the backbone of a great economy. There are numerous outlets to set up small shops as there are great needs and scope for supply and demand of goods in numerous industries and locations. The realtors indulge in finding a commercial space as much as residential properties. Setting up a small shop comes with the hassle of finding the right space that fits your business model.

Are you looking forward to buying a small shop and setting up your business? Then, read this blog to get insights on how to move about it and get a checklist for buying a small shop in Chennai.

There are two kinds of small shops that can be set up based on the nature of your business. They are retail and wholesale shops.

Types of Shops

1. Retail Shop

Retail Shop - Types of Shops

Retail Shop – Types of Shops

A retail shop is one that sells goods and products directly to consumers. They are more specific and branched. They sell finished good directly to the consumer for immediate usage. A few examples of retail shops are supermarkets, clothing showrooms, departmental stores, medical shops, etc.

2. Wholesale shops

Wholesale Shops - Types of Shops

Wholesale Shops – Types of Shops

Wholesale shops are the ones that sell products and goods in large quantities. The good sold in general takes place between business to business. Many small-scale wholesale businesses make use of small shops to carry out their business. A few examples of small shops in wholesale are kitchen utensils wholesale providers, organic food businesses, clothing material providers, and much more.

Read Also: Mistakes To Avoid While Buying Shops In Chennai

Here’s your checklist for buying small shops for sale in Chennai

1. Look for the Right Location

Choose Right Location - Checklist for Buying Small Shop For Sale in Chennai

Choose Right Location – Checklist for Buying Small Shop For Sale in Chennai

The location of your small shop plays an important role in how well your business runs.

In looking for a small shop for sale in Chennai, make sure that it is located in the prime hub of the city, where numerous marketplaces are present. This gives a chance for your business to derive better reach and sales. A few of the prime marketplaces in Chennai are Sowcarpet, Pursaiwallkam, Parrys, and T.nagar. Looking for small shops for sale in Chennai, in and around these areas is wise.

2. Sort Out Finances

Sort Out Finances - Checklist for Buying Small Shop For Sale in Chennai

Sort Out Finances – Checklist for Buying Small Shop For Sale in Chennai

Having a space of your own for your business is a wise idea, and it comes with the responsibility of sorting out the finances. Look out for the cost of the property and see if it fits your budget and business model. When looking for small shops for sale in Chennai, you can let the realtor know about your budget and get a small shop accordingly. You can also consider and be open to options like renting and leasing and be open.

Read Also: Future of Private Office Space in Chennai in 2022

3. Goods Supply is Pivotal

Goods supply is pivotal - Checklist for Buying Small Shop For Sale in Chennai

Goods supply is pivotal – Checklist for Buying Small Shop For Sale in Chennai

If you are looking for a small shop for sale in Chennai, keep in mind that you pick a shop with a fine supply of goods. You need a fine supply of goods for the smooth running of the business. See-through that you can arrange the supply chain in a streamlined manner and that the small shop has the capacity to withstand that.

Read Also: What Is Cryptocurrency And How Is It Impacting Commercial Real Estate?

4. Basic Needs And Amenities

Basic Amenities - Checklist for Buying Small Shop For Sale in Chennai

Basic Amenities – Checklist for Buying Small Shop For Sale in Chennai

In the checklist for buying a small shop in Chennai, you primarily need to keep in mind the basic infrastructure and the advanced amenities available. Proper ventilation, adequate water supply, continuous electricity, freight facilities, needed sunlight are a few of the basics to keep in mind. Amenities like security features, locker system, nearby access to ATMs, safety and hygiene features, etc., are a few other amenities to keep in mind.

Read Also: Commercial Real Estate Trends And Insights 2022

5. Look For The Authenticity of The Property

Check Authenticity of The Property - Checklist for Buying Small Shop For Sale in Chennai

Check Authenticity of The Property – Checklist for Buying Small Shop For Sale in Chennai

When you start looking for a small shop for sale in Chennai, make sure that you look for well-known and authentic places. It is necessary to be aware of the history of the power of attorney and the handover of the property. Make sure that you check with a legal advisor about the property before making a purchase. If it is a shop in construction, then see through that the project is registered under TN-RERA.

6. Check For License

Check for license - Checklist for Buying Small Shop For Sale in Chennai

Check for license – Checklist for Buying Small Shop For Sale in Chennai

In running a business and setting up a small shop, it is necessary to get approval from the government. On getting the approved license, you can go ahead and set up a shop.

Shop and Establishment Act license is the license required for setting up a small shop, and their requirements and approvals differ as per each state. In looking for a small shop for sale in Chennai, ensure that you get the required license for your shop.

Read Also: The Evolution of Commercial Real Estate in Chennai

7. Get The Legal Documents Ready

Check Legal Documents - Checklist for Buying Small Shop For Sale in Chennai

Check Legal Documents – Checklist for Buying Small Shop For Sale in Chennai

Whether you are buying the small shop, renting it or even leasing it, the main thing that you need to keep in mind is to get the legal documents ready. Power of attorney, receipt of property tax, encumbrance certificate., occupancy certificate, agreement to sell are a few of the legal documents you need to check for in buying a small shop. You need to ensure that you carry out a strong and secure registration process to gain ownership of the place. This is the important entity in the checklist for buying a small shop in Chennai.

Read Also: 10 Tips On How To Find The Best Commercial Property In Chennai

Why Should You Invest In a Shop?

Why should you invest in a shop

Why should you invest in a shop

Investing in a shop is the right thing to do if you aim to have a full-fledged and long-running business.

-It promotes a better and streamlined approach to acquiring customers and sales.
-It is easier to carry out your business activities, and you will get an organized structure to handle things.
-For investors, it is wise to acquire a property like a small shop and generate passive income through renting and leasing it
-Investing in a thriving marketplace will ensure that your business yields better profits and is less likely to witness losses.
– Buying a property like a small shop costs much lesser than residential properties but yields continuous profits.

Market of India- The right place for buying a small shop in Chennai.

Market of India

Market of India – Wholesale Market in Chennai

The market of India is India’s first and largest wholesale and retail market. The market of India is known to offer spaces for retail stores, wholesales (Wholesale) businesses, commercial outlets and more. The market of India has a total market area of 54,00,00 sq. ft. It has 9+ markets and 5,000 shops located on its premises. The market of India has an atrium area of 28000 (30000) sq. ft and a central plaza of 100000 sq ft as a promotional area.

 If you are looking to buy a small shop for sale in Chennai, then the Market of India is the best option and here’s why.

– There are numerous shops starting with 200 sq. ft and going up to 65,000 sq. ft. You can pick the shop of your choice as per your needs.
– The market of India has an estimated expected footfall of 40,00,000 per month, and there is no better place than to witness tremendous sales in your business.
– The market of India has an online marketplace that can accommodate over 1,00,000 products. Thus providing your business with a space to sell online is the right investment during a pandemic.
– The market of India has 20+ ancillaries and provides traders and businessmen with 100% market support.
– Your small shop can have all access to world-class amenities like advanced security features, energy-efficient systems, 24 access points, and more. The market of India has a food court, adequate parking space, banks and ATMs, speed elevators, freight lifts, and more.
– You can take your business to the next level as the Market of India provides space to put your business out there in the international market. Leads from middle east Asia and all across the globe are possible with India’s Market. Thus maximizing your sales and profits.

If you are looking for a small shop for sale in Chennai, reach out to us at Market of India. Shops start from ₹40 lakhs!!

FAQs – Checklist for Buying Small Shop For Sale in Chennai

1. Where to buy small shops in Chennai?
Market of India is the ultimate destination to buy commercial spaces, including small shops. India’s upcoming largest wholesale and retail marketplace, located in SPR City, Chennai, offers small shops starting from 180 sq. ft. and comes with access to world-class facilities and amenities.

2. What is the advantage of buying small shops in Chennai?
Small shops are easier to maintain and are cost-effective. These are two of the biggest advantages of buying small shops in Chennai. If you are looking to purchase small shops in the city, Market of India is your choice. You will get the benefit of having access to the incredible amenities and state-of-the-art facilities that the country’s upcoming largest wholesale and retail marketplace has to offer, in addition to the countless trade benefits.

3. What is the cost of buying small shops in Chennai?
The cost of buying small shops in Chennai purely depends on the location and the builder you buy with. If you are looking to invest in a small shop in Chennai, Market of India, India’s upcoming largest wholesale and retail marketplace, offers small shops at competitive prices. Located centrally in the heart of Chennai, shops at Market of India start from Rs. 50 lakhs.

4. Which is the perfect place to buy small shops in Chennai?
Market of India is the perfect palace to buy small shops in Chennai. Located in the heart of Chennai within SPR City, it is India’s upcoming largest wholesale and retail marketplace with state-of-the-art infrastructure and trade-enhancing amenities. In addition to these, your business can also avail 20+ ancillaries that offer the perfect marketing support that can help grow your business.

5. What are the amenities you will get if you buy small shops in Chennai from MOI?
Buying a small shop in Chennai from Market of India is the best decision you will ever make for the growth of your business. The following are the amenities you will get access to at Market of India, India’s upcoming largest wholesale and retail market:

  • 40,00,000 monthly footfalls (prospective customers)
  • 20+ ancillaries for marketing support
  • Establishment of a strong digital presence through MOI’s online marketplace
  • Global trade opportunities through the Chamber of Commerce
  • A chance to network with fellow traders and expand your business relations.
Market of India is India's largest upcoming wholesale and retail market in Chennai. We are known for having markets and office spaces with world-class infrastructure and ancillary services. We aim to offer traders a wide range of options for commercial spaces.

Recent Posts

Wholesale Markets

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

Buying a Retail Shop in Chennai: 5 Steps to Consider

Buying a Retail Shop in Chennai: 5 Steps to Consider

Introduction Nestled on the southeastern coast of India, Chennai presents an enticing opportunity for those passionate about retail to establish their shop. With a population of over 8 million people and a growing middle class, Chennai presents a lucrative market with...

All About Chennai’s Markets In Market Of India!

All About Chennai’s Markets In Market Of India!

Summary: Market of India is India's largest upcoming wholesale and retail market in Chennai. We are known for having markets with top-notch amenities and features. In the following blog, you will explore the eight markets at Market of India, which are as follows. ...