As we were talking about the best available options in the town and analysing them thoroughly to pick the ideal one, here is a little more insight on how to go about it. The key factors to remember all this while will be your consumer base, consumer base and consumer base! Think, idealize and rationalize in their style and you can hit success bang on.
So, further to the last post, here are a few more points just before you seal the deal of your new commercial property.
Blend in yet stand out
The demographical research might have left you with a handful of options in your town. Before you settle for one, investigate the local community. Visit the surrounds and see what businesses are doing well. Speak to other businessmen and setup a plan to play on the familiarity string yet stand apart from competitors.
Slice and Dice your competitors
Again this depends on the type of services you have at offer. To some existing competition may not matter, but retail sector cannot afford to rule out its ill effects. For instance, you plan to open a restaurant in a posh locality, knowing your competitors would help you design the ambience better. Especially while renting commercial space in Noida in strata titled malls; it is much likely that you can encounter tough competition. So, if you choose the better services and high footfall that these places receive keep your resources high up to combat the tough fight. Ensure that you are resourced enough to stay a step ahead of the rest, be it the store location within the mall or how you deck-up the place.
Exposure and Accessibility
First of all take out the list of your business needs and see if you even need to go through this pointer. An internet service provider won’t bother if there are others in close vicinity but the same isn’t true about a fashion outlet. If customer perception, instinctive buying, and outer glam are important to your business then parking, foot traffic, grandeur, high street surrounds and all such factors matter. The kind of people your business is exposed to makes a difference in your sales and profits. Conversely, for new commercial properties in Noida meant for office use, such things don’t matter so much.
So be wary of such nuances and implement good research into this first physical step of setting up your business.
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