How to Find the Perfect Rental Shops for Your Business | Hinjewadi

Hinjewadi is a prime location in Pune, Maharashtra. It is typically a growing commercial and residential hub. Finding the right rental shops for your business is a very difficult task. However, it is a hub for IT companies and start-ups. 

Hinjewadi provides a vibrant market for start-ups and small businesses. Whether you want a retail store, a cafe, or a service-based business, finding the perfect shop for rent for your business is very important and will lead to success. Today, we will bring you an essential step that you should consider while finalizing your renting shop in the Hinjewadi location.

1. Understand Business Requirements

First, it is important to understand your business requirements. Identify the specific needs of your business. You can consider the following:

• Identify what type of business you want to start. Whether you are planning to retail, food service, or rent shop space, the type of business affects the location and determines the type of shop you need.

• Identify space requirements for your business. Determine how much space is required as per your inventory operation needs, etc.

• Identify the budget or establish a budget for your rent as per utilization, maintenance fees, and renovation fees. Setting a budget will help you choose the right rental shop at Hinjewadi.

2. Research The Location

Hinjewadi is a huge city. It is divided into multiple phases, like phase 1, phase 2, and phase 3. They are a popular location in Hinjewadi. However, every phase has its advantages:

• Phase 1 is known for IT offices. It is full of professional people and perfect for restaurants, cafes, and convenience stores.

• Phase 2 is known for residential complexes and commercial space. It is ideal for grocery stores, gyms, and boutiques.

• Phase 3 is emerging as a residential hub. You can target the families and residential in your business

3. Assess Accessibility

Hinjewadi is well-connected and provides easy accessibility to the people. It is well connected to Pune with public transport and highways. Hence, it is important to consider the connectivity of rental shops, public transport, road access, or parking facilities. Check if your location is available for a bus or metro station or not. Parking facilities are also important for your customer satisfaction. Hence, consider the parking facility for the business growth.

4. Visit Potential Location

Once you analyze or shortlist some potential shops based on your research,  it is good to visit them physically. When you are visiting your potential location, here are some points that you need to consider:

• Check the condition of the shop, like plumbing, electric systems, cleaning, etc. If it requires some repair, you can negotiate rent.

• Make sure to elevate surrounding businesses. It will help you in business growth.

• Visit a different time of the day to check the food traffic patterns as well as traffic. Analyze the future growth according to it. A busy area during peak hours is good for your sales.

5. Check The Property Amenities

Most of the rental shops in Hinjewadi provide various amenities. Make sure to consider the amenities provided by the property owner as per their rent. Here are some of the amenities that you should consider:

• 24/7 security for the safety of inventory and customers.

• Power backup to prevent interruptions in your office work.

• Elevator or accelerator if your rental shop is in a multilevel commercial space.

• Parking facilities are very important for your employees and the customers.

6. Understand The Rental Agreement

It is important to read the rental agreement carefully with peace of mind. Make sure it does not include any hidden clause or cost. Make sure to check the lease duration with your business plan. 

Understand how much the rent may increase annually and whether it will be included in the rent excavation clause or not. In addition, it is also important to check the deposit amount. Confirm the advance deposit amount before signing the rental agreement.

7. Negotiate Terms

Once you find a suitable shop, it is important to negotiate these terms with the landlord or the property owner. Here is a key point to discuss:

• Ensure that the rent amount is elevated with your budget at the market rate.

• Check whether the short-term or long-term lease is more profitable for your business.

• Consider the security deposit every land asks for. Check whether it is refundable or not.

• Clear who is responsible for maintenance and repair during the lease period. If you are responsible for maintenance, then negotiate with the rent.

8. Verify Liabilities

It is important to verify the leg before signing any lease agreement or rental agreement. Make sure to check the ownership document that holds the ownership of the properties and is authorized to lease their property to you. 

Secondly, through the lease agreement, carefully look for all the clauses related to the rent increases, termination conditions, and other policies. If you find it difficult to complete the leg, then it is good to consult with a professional. They will help you to clear all the terms and legs.

9. Consider Future Growth

If you are renting a shop in Hinjewadi for your business, it is important to consider the business’s future growth. However, Hinjewadi is growing because it is a rapidly growing city in Pune. 

Use a location that allows you to expand your business with time. In addition, stay informed about market rent in Hinjewadi, which could affect your business positively in the future.

10. Use Online Resources

It is good to use online resources before finalizing your rental shop in Hinjewadi. There are many platforms online on which you can search for the right property. You can use filters based on your specific criteria, like price and square footage. 

In addition, you can also join some media platform groups on Facebook and share their property details. Likewise, you can coordinate directly with the owners. If you reach out to them, you can communicate with the direct owners. There is no middleman, and you will get the best deal.

Conclusion

Finding the perfect shop for rent requires careful planning and consideration of various factors like location, budget, business module, and many more. It is important to conduct research, visit potential locations, etc. to secure his space for business goals.

Remember that the right location helps you grow your business. So, finalize your property and do not make your decision in a hurry.