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Mistakes To Avoid While Buying Shops In Chennai - MOI
Mistakes To Avoid While Buying Shops In Chennai – MOI

Blog Summary:

Are you planning to buy shops in Chennai? Usually, business people tend to commit rookie errors when they first purchase and set up shop. This article will discuss 5 of the most common mistakes to avoid while buying shops in Chennai.

Are You Planning To Invest In Shops In Chennai?

If you are a Chennai-based trader or a business person, then planning to buy shops in Chennai is a good move. There are many benefits that come out of having your own shop that aid the growth of your business. Shops are a part of commercial property. Commercial property is any property that helps generate steady and consistent income for the investor. Today, the number of business owners wanting to invest in shops in Chennai is growing.

Even though customers are today accustomed to buying online, businesses with a physical presence are not entirely out of demand. A good chunk of customers still prefers to shop from physical stores. So, if you are a business person and want to buy shops in Chennai, your business is in to see guaranteed growth. In this article, we will discuss 5 mistakes to avoid while looking to buy shops in Chennai and the benefits of owning shops in Chennai.

5 Mistakes To Avoid While Buying Shops In Chennai

Mistakes To Avoid While Buying Shops In Chennai
Mistakes To Avoid While Buying Shops In Chennai

If you have decided to buy shops in Chennai to run your business, then your business is in for a great run! As mentioned earlier, physical stores will never go out of demand or trend. However, the following are a few common mistakes you should make a note of and avoid while buying shops in Chennai:

1. Not Doing Your Research

Not Doing Your Research - Mistakes To Avoid While Buying Shops In Chennai
Not Doing Your Research – Mistakes To Avoid While Buying Shops In Chennai

Research is of utmost importance when it comes to buying a shop. When you plan to buy shops in Chennai, you need to make sure you do detailed research and know what you are buying. Skipping this step and just superficially researching your investment’s various aspects will not do you any good.

2. Taking The Location Lightly!

Location Lightly - Mistakes To Avoid While Buying Shops In Chennai
Location Lightly – Mistakes To Avoid While Buying Shops In Chennai

Sometimes, it is very common for buyers to go for the second-tier location because shops in prime locations cost higher. This can be highly disadvantageous, especially if you are looking to buy shops in Chennai. Owning a shop in a prime commercial or a residential area will draw more buyers, thereby improving sales.

So, if you are investing in shops in Chennai, make sure you take your location options seriously and go for the one that will be more fruitful for your business in the long run.

3. Not Having A Long-Term Plan

Long-Term Plan - Mistakes To Avoid While Buying Shops In Chennai
Long-Term Plan – Mistakes To Avoid While Buying Shops In Chennai

If you are looking to buy shops in Chennai, please do not make the purchase spontaneously. Since you are looking to invest in shops in Chennai, you need to have a long-term plan, as the investment is heavy. If your investment is not a goal-oriented one, it is going to be heavy on your wallet. There is also no point in hopping from shop to shop. If you are setting up your own shop, it must be a long-term plan. 

So, ensure you plan your investment in a shop, keeping your future goals and financial objectives in mind.

4. Buying The Wrong Property

Buying Wrong Property - Mistakes To Avoid While Buying Shops In Chennai
Buying Wrong Property – Mistakes To Avoid While Buying Shops In Chennai

Once you have done your research about the location and other aspects, and you have your plan in place, it is time to analyse if the property is suitable for your business’s needs. Every shop space, once purchased, will require some amount of furnishing work to actually make it a shop.

So, when you buy shops in Chennai, ensure you go in for one that comes with the basic furnishing and woodwork done so that you don’t spend over and above your budget on getting the shop ready from scratch.

5. Missing Out On The Compliance Review

Compliance Review - Mistakes To Avoid While Buying Shops In Chennai
Compliance Review – Mistakes To Avoid While Buying Shops In Chennai

Real estate compliance includes the set of rules and regulations that govern a property and its components. When you buy shops in Chennai, it is crucial for you to have a broad understanding of this regulatory landscape. Make sure you don’t miss out on carrying out a compliance review before you invest in shops in Chennai.

These are some of the most common mistakes that people looking to buy shops in Chennai commit. If you are looking to set up your own shop, then ensure you don’t commit these errors. In the coming section, let us discuss the benefits of shops in Chennai.

Benefits Of Buying Shops In Chennai

Benefits Of Buying Shops in Chennai
Benefits Of Buying Shops in Chennai

Chennai is a city with a mix of both conventional and contemporary buyers. While the city is home to customers who shop online, it also houses buyers who prefer shopping from physical shops in Chennai. Customers get a sense of satisfaction by shopping from shops.

Therefore, owning shops in Chennai is highly beneficial not only for customers but also for business owners, as it helps them drive more sales and provides them with an array of other benefits. 

Let us discuss the benefits that come with deciding to buy shops in Chennai.

1. Shops Offer Convenience

Shops Offer Convenience - Benefits Of Buying Shops in Chennai
Shops Offer Convenience – Benefits Of Buying Shops in Chennai

Though customers are increasingly shopping online, physical shops offer a sense of convenience for them. For example, when you are on a time crunch, going to a physical shop and making the purchase is more helpful than ordering online, which is comparatively time-consuming.

2. Trial – An Added Advantage

Trial - Benefits Of Buying Shops in Chennai
Trial – Benefits Of Buying Shops in Chennai

This is probably one of the biggest advantages of physical shops. Shops offer customers the option of trying out the product before making the purchase. This is a benefit only shops can provide customers! Online shopping is devoid of this option.

3. Shops Provide Customer Assistance

Customer Assistance - Benefits Of Buying Shops in Chennai
Customer Assistance – Benefits Of Buying Shops in Chennai

In the case of buying from a shop, customers can avail guidance from the shopkeeper or salespeople. This comes in handy, especially if the customer wants to purchase gadgets and home appliances with a galore of options. This kind of effective guidance is not available in the online shopping space.

4. There Are No Additional Charges Involved

No Additional Charges - Benefits Of Buying Shops in Chennai
No Additional Charges – Benefits Of Buying Shops in Chennai

When customers buy from a store, the payment is straightforward and does not involve any additional charges, as in the case of online shopping, like shipping charges, delivery charges, and more.

These are some of the several benefits of shops in Chennai. Owning a physical store will be beneficial for traders and business people as they provide customers with a gratifying and holistic shopping experience.

If you are looking to buy shops in Chennai, consider investing in one at Market of India. Located in the heart of the city, within SPR City, Market of India business people with an array of shop options they can choose from, according to their needs.

Why You Should Invest In A Shop In Market Of India

Market of India - Commercial Real Estate Trends And Insights
Market of India – Commercial Real Estate 

> Market of India offers an array of commercial spaces for sale in Chennai, including retail, wholesale, office, and other commercial spaces.

> An audit has revealed that Market of India can expect a monthly footfall of around 40,00,000, which is forty lakh potential customers per month.

> Market of India presents you with ample opportunities to connect and network with prominent traders and logistics partners from across the globe. This can potentially take your business to the global market.

> Run your business in a major commercial hub that comes with state-of-the-art amenities, including advanced security, 24 access points, a food court, and more.

> Market of India is the one-stop solution for all your commercial and business needs

Invest in a commercial real estate space in Market of India, Chennai, today! Shops start from ₹40 lakhs! Are you someone who owns shops in Chennai? Let us know how it has benefitted you in the comments below!

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