Blog Summary
Are you a business person or an investor looking to invest in retail shop in Chennai? Making a commercial property investment is not a piece of cake, but don’t worry! We have got you covered. Read our ultimate guide to investing in a retail shop in Chennai before you go on to make the investment. This will help you answer a lot of questions you may have. Read on!
Introduction
Whether you are a business owner or an investor, deciding to invest in retail shop in Chennai is huge. Commercial real estate investments have always proved to be fruitful, irrespective of the market being bullish or bearish. Retail spaces are lucrative investment options for the steady and consistent income received from these investments.
If you are a business owner planning to set up your own story, then you need to buy a retail shop in Chennai. But before you go on to actually make the investment, you must have answers to all your questions regarding how to buy in a retail shop in Chennai. This blog will discuss the most frequently asked questions surrounding retail space investment. Read on!
Investing in a retail shop in Chennai
If you have decided to invest in a retail shop in Chennai, then it’s time to read into retail investment a little further and understand your investment prospects better.
1. What is a retail shop?
A retail shop is a store primarily owned by a retailer. It is a sales outlet that deals with consumer goods bought in bulk from wholesalers in order to sell to customers. Therefore, a retail store is meant for Business to Consumer (B2C) businesses. If you are looking to invest in retail shop in Chennai, make sure you are looking to run a retail business or rent the space out to retailers. This will help you make the most out of the space.
2. Why should I buy a retail shop in Chennai?
The decision to buy a retail shop in Chennai is always a good one, considering the busy market the city houses. The success of a retail store depends purely on where the store is located. Chennai has a lot of retail population and residential areas. So, if you invest in a shop in Chennai’s residential locations, your investment will be more fruitful.
3. What are the advantages of buying a retail shop in Chennai?
When you invest in retail shop in Chennai, you get access to several benefits. Some of them include:
1. Increased sales potential: Retail outlets have greater sales potential for the retailer. This is because a large chunk of consumers still resorts to visiting retail stores, especially for fast-moving consumer goods (FMCG) and luxury products.
2. Better inventory: When you choose to run a retail shop over a wholesale shop, you open doors to a wide range of products unique to the retailer. This is because not all products are available for sale by wholesalers, whereas that is not the case with retail businesses. Therefore, running a retail shop is more advantageous as you can sell a lot more products as a retailer than you can as a wholesaler.
3. Save on shipping costs: If you buy a retail shop in Chennai over taking your business online, you will save up on a lot of shipping costs, as well as the costs involved in maintaining an inventory website, the process involved in packaging and couriering the products. In the case of a retail store, you will be dealing with customers directly, thereby cutting down on expenses and saving money.
4. Better customer relationships: Retail stores help you deal with customers in person. This means you will be able to help them out in person, and if your service is good, they will keep coming back to your store. This will help build a strong customer base as well as a relationship with them.
These are some of the advantages you will get when you buy a retail shop in Chennai.
4. What Should I Keep In Mind Before Buying A Retail Shop In Chennai?
If you want to buy a retail shop in Chennai, then there are a few factors you must keep in mind in order to buy the best retail store in the market. Therefore, keep the following in mind when you invest in retail shop in Chennai:
1. Location: Location is extremely important when you buy a retail shop in Chennai. You need to look for a retail property in locations where there are a lot of customers. You also need to choose a location in which the products you deal with are in demand. A residential area is better if you are dealing with FMCG products, whereas you can consider investing in a retail shop in malls or commercial shopping complexes if you are dealing with consumer goods that do not fall under the FMCG category.
2. Get documents in place: Whether you are buying a new property or a second/third-hand one, it is essential that you get all important documents involved in buying and selling a commercial property or a retail store in place. This is to ensure the transaction taking place is clean and transparent to avoid any kind of hurdle in the future.
3. Evaluate the space: Since you will be setting up a store in the retail space, it is important for you to study the build of the space and evaluate it. Check if the space is planned and designed intelligently to suit the needs of a retail store. In addition to this, see if the space is well-ventilated and has enough space for – (i) storage, (ii) customers to walk around and buy, and (iii) billing counters.
4. Consider your goals and budget: These are two of the most important factors to consider when you buy a retail shop in Chennai. Define the objectives of your business and look for a retail space keeping them in mind. Apart from this, it is also important for you to set your budget and, most importantly, stick to it when you invest in retail shop in Chennai.
These are some of the factors you must consider when you buy a retail shop in Chennai.
5. Which is the best place to buy a retail shop in Chennai?
If you are looking to buy a retail shop in Chennai, then head to Market of India. Located in the heart of the city, within SPR City, Market of India is India’s upcoming largest wholesale and retail marketplace. It offers business people and traders a wide range of commercial spaces for sale, including retail shops.
Market of India is a first-of-its-kind centralized marketplace that acts as an extension to Chennai’s major trade hubs, including:
- Strotten Market
- Parrys Market
- Govindappa Market
- Ritchie Market
- NSC Bose Market
- Narayana Mudali Market, and
- Mint Market
With state-of-the-art infrastructure and amenities, and facilities that meet international standards, Market of India is set to be a landmark trade and business centre in the country. Here’s why you should invest in retail shop in Chennai at Market of India.
1. 40 lakhs monthly footfall. This means 40 lakhs prospective customers per month for your business.
2. 20+ ancillaries. When you buy a retail shop in Chennai at Market of India, you will get strong marketing support for your business through more than 20 ancillaries that the marketplace offers.
3. Strong online presence. Through its online platform with 1,00,000 commodities, you can build a strong digital presence for your business by marketing your products online too.
4. Go global with your business. Market of India’s Chamber of Commerce will help you connect and network with international traders and logistics partners, thereby enabling you to take your business beyond national markets.
5. State-of-the-art infrastructure. Market of India’s infrastructure and the amenities it comes bearing meet international standards, making the marketplace stand out from the crowd. Being the country’s upcoming largest wholesale and retail marketplace, Market of India is set to take the trading world by storm and make Chennai a global business destination.
Conclusion
The decision to invest in retail shop in Chennai as a business person or an investor will definitely give you desirable returns, no doubt. This is provided you make the right investment choice, at the right location, with all the factors we discussed in place. The market of India, the country’s upcoming largest wholesale and retail marketplace, is a great place to invest in a retail shop. For more details, visit www.marketofindia.co.in.
FAQs
1. What is the cost of investing in a retail shop in Chennai?
The cost of investing in a retail shop in Chennai can vary depending upon several factors like location, size, area and type of business and competition. It is vital to weigh the pros and cons of investing in a retail shop and then go ahead.
2. What is the potential return on investment for a retail shop in Chennai?
The potential return on investment for a retail shop in Chennai is also affected by location, retail business type, competition, and overall economic conditions.
3. Should I buy or lease a retail shop in Chennai?
Leasing a retail shop in Chennai is one of the best options for the following reasons:
- Flexibility in terms of location
- Lower maintenance costs
- Tax benefits
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