Life is very uncertain and the only thing constant in life is change. You may not be aware of the changes which occur in your life. You may even plan ahead for future events which are bound to occur in your life. For example, if you own a shop and are the only surviving male member of your family, you may plan to sell or lease your shop before you expire. Another instance is when you need some extra cash in an emergent situation, when you may have to sell your shop. Situations Entailing You to Sell Your Shop. Even in an affluent city like Singapore, you may face difficult times when you may have to decide what is to be done with your shop. There are numerous situations when such a decision will have to be taken by you. For example, your only daughter is getting married and will settle out of Singapore or when you have reached a stage in life that due to old age you are unable to attend effectively to your daily duties. Your children may not be interested in running your Mom & Pop store because all of them are professionally employed like being Doctors, Lawyers, or some such profession. The following are few great ideas to consider in order to successfully sell off your shop in Singapore.
Online Listing of Your Shop
Commercial property is always an investment opportunity for if you cannot use it yourself, you can very well give it out on rent or lease or even sell. However, when you have a shop for sale in Singapore, it is going to cost you time and money. Hence, it is most advisable to first list your shop online even if you are the owner or a real estate agent. A very optimum site to list your shop in Singapore may be PropertyGuru.com.sg which is a very professional and advertises online a variety of properties covering residential, condos, shops, and office premises. Most online sites nowadays, offer to list your property free of charge. More often listing your shop online will offer you more exposure at a very less expense than what you would have to spend if you were to employ the traditional method of giving ads in the local papers.
The Old and Trusted “For Sale” Sign
The old method of advertising with a “For Sale” sign in front of your shop may also help you to let people know of your decision to sell your shop. Word of mouth advertising is an age-old method, which is very effective and does not cost you a penny. If your shop is situated in a busy locality, this sign will attract a good many viewers who themselves might be interested in shifting their business to such a busy locality. Even if they themselves are not interested in your shop, they might pass on this information to their friends and relatives who might be interested. There are still numerous people who are not exposed to online classifieds or who are unaware of what happens in their own neighborhood. This glaring sign will inform them that a shop is up for sale which they can purchase.
Ads in Local Papers
There might be some local publications which offer you ads for a fee or some for free. You can contact some of the popular ones. Since most of these publications are always on the lookout for additional content, they may agree to feature your ad. If this does not do the trick, you may have to contact a professional agent to get your shop sold. It would be worthwhile to continue with your ads for it is the only authentic source to reach your audience. It may take some time, but ultimately you will get your shop sold.
Sell When Opportunity Is Right
Investing in a shop entails a plethora of opportunities for investing. Nevertheless, you need to watch out for the right time to sell. When the price you will get is as per your expectation, you may put up your shop for sale. Nowadays, with a fall in the interest rate, it is most worthwhile to buy a shop outright rather than lease it. People have contemplated this question for ages both during the boom time and during depressions. This decision depends upon complex issues like a pride of ownership, plans for growth, your image in business circles, your need for additional space, the available finances with you, and much more. Also, there may be other factors which are out of your control like interest rates, the economic condition prevailing, the trend in real estate prices which may also obscure your decision. The best advantage for ownership is the future appreciation of the real estate value of the shop. However, with the present state of affairs, the appreciation may not be substantial.
Beautifying Your Shop with a Facelift
When you intend to sell your shop, you first need to see that your shop is in excellent condition to attract buyers. It is similar to adorning the bride with beautiful jewelry and clothes. You may need to lay a fresh coat of paint to give a new look to your shop. In addition, if any cracks are there, you may want to camouflage the same with paint. This painting job will offer a new lease of life to your shop and make it look very attractive for your prospective buyers.
A No-Cost Involved Affair
A facelift and a paint job will do wonders for your shop. Even as simple as changing the handles on the doors or the drapes may spruce up the outlook of your shop. It would be worthwhile to throw out all the old stuff. If there is furniture around to be sold along with the premises, you may rearrange the furniture to give the shop a better look. If you have carpets, do get them cleaned so that the shop looks inviting. Most of these activities may cost you nothing or a little bit, though may consume time like rearranging of furniture or cleaning out your old stuff.
The HDB Factor
The Housing & Development Board of Singapore or HDB has a program to help upgrade the common areas of the premises to give an improved ambiance to the shopping complex. HDB also organizes promotional activities to attract shoppers and helps the retailers in their efforts to upgrade their business and shops. Hence, if your shop is a part of the HDB scheme, these schemes will be an added top-up benefit for the buyer.