When it comes to starting a retail business, many people often struggle to decide whether they should invest in an independent street shop or a commercial space in a shopping complex. Both options have their advantages and disadvantages, which makes choosing between the two even more challenging.
This blog will hopefully end this dilemma for retail business owners as it will shed light on the nitty-gritty of two options. Let’s check them out:
A standalone roadside shop
Advantages: A standalone shop offers more visibility for brands, which means they can easily attract customers and serve them with their offerings. It is also time-saving for customers as it is more easily accessible than a shop in a mall where you will need to enter and exit, which is time-consuming. It also allows businesses to create a brand recall for all the passersby.
Buying a shop located on the side of a street is also more affordable than in a shopping complex, which is perhaps why most business owners consider buying a roadside shop.
Disadvantages: While buying a streetside shop may offer better brand visibility, it doesn’t necessarily mean more conversion. Plus, roadside shops have fewer catchment areas than shopping malls. They may also lack security, amenities, uninterrupted power supply, and other services, such as HVAC systems, that business owners need to run their business effectively.
Shops in a Shopping Mall
Advantages: A shop in a shopping mall is likely to attract more customers on a daily basis as malls generally have a higher footfall than streets. More footfall means more customers, which means better chances of conversion. Plus, shops in a shopping mall are more secure and safe, owing to the overall security of the malls. They also have an uninterrupted power supply, parking facilities for visitors, centralized HVAC systems, and many others.
Buying a shop in a shopping complex also establishes your business among high-end brands, which create a more sophisticated image in the minds of visitors.
Disadvantages: First, a shop in a shopping mall is generally more expensive than a standalone shop because of the modern facilities and location. Secondly, it doesn’t give much visibility to brands since they are inside a complex. Besides, most complexes have maintenance charges, which tenants or property owners have to pay in order to receive the amenities and services the complexes offer.
Where to invest in Ghaziabad?
If you are looking for a retail shop in a shopping mall in Ghaziabad, consider Himalaya City Center, a recently developed but lauded commercial hub in Raj Nagar Extension. The mall has dedicated floors for retail, food, and entertainment, with catchments in Noida, Ghaziabad, Modinagar, and many surrounding areas. What’s more, if you buy a space now, you might be eligible for the 24% Assured Returns offer the project builder is offering currently. For more information, get in touch with the sales team at Himalaya City Center.