Shillong is one of the most expensive towns in running a retail outlet or commercial space. The starting cost of commercial space in Laitumkhrah is between Rs.400 to Rs.420 per sqft. Space crunch is one of the factors that pushes the price up. In Iewduh it starts nothing less than Rs.7000 per sqft and Police Bazaar would be more than the mentioned price.
It is a pain for entrepreneruship aspirants who would like to start a small venture of their own. It is just next to impossible if you don’t have savings like me. Here are few false preconceived notions that one needs to remove from their mind:-
- Having a retail outlet in Laitumkhrah or Police Bazaar doesn’t guarantee sales or profit.
- Sales happen only if you have been into it and customers keep coming towards you.
- You need to reach out to your customers and engage with them. For instance, if you have a Dhara design outlet or Bouquet design studio, you need to engage a lot through facebook or instagram paid promotion if you can’t afford to lease a retail space in Laitumkhrah or PB. The best branding campaign you can do is to showcase your design during the festival, such as “Shad-suk Mynsiem” or “Nongkrem Dance”. This would work wonders if people and attendees admire your work.
- For instance, if you are a Bakery artists and want to sell your cookies, you need to reach out to every confectionary stores around somewhere in Malki, Mawlai or Rynjah. These are few local commercial hubs even if they turn down your offer, keep on reaching out to other stores. Out of every 20 outlets who turned you down, you would at least have 1 outlet who seek to try your cookies. This is a part of sales pitch that you are doing for your business.
Start thinking of running a retail outlet or leasing a commercial space only if you have recovered the basic cost of rent and security deposit of three months at least. Remember to take rest when exhausted, don’t forget to note down the contact details of all the people or businessmen you met because you can give them a call after 7 to 8 months because they might be in need of a new supplier.