In the digital advancements era, opening a stationery store might sound like a crazy idea. However, some markets will never close down in the Indian economy.
Pens and papers are still very much in use in schools and offices, even in the age of mobile tabs and laptops.
Wedding cards and resumes are still preferred to be printed on paper in an old-fashioned way.
Also, there is more to stationery than just pens and notebooks, and any stationery shop proprietor would gladly describe the items.
If you are interested in retail and looking for an avenue to start a business, starting a stationery store would be just the thing for you.
Location of your Store
This needs to be given careful consideration. A stationery store should be located more or less in a semi-residential area, accessible and visible to people who are likely to be your potential customers.
You can also open shop in a mall, which increases your chances of sales as even window shoppers would want to wander in and decide to buy stationery on impulse.
As with other business ideas, you need to consider the market before you begin your business. Figure out who your local opponent is and who they provide to.
In a stationery store, the target market is more or less fixed to children, teenagers, and a few elders whose hobbies may involve using stationery.
It would be best if you visited your competitor stores, look at their outcomes, and try to find a gap in the market you can fill.
Registration and Licenses
Register your business like any other retail store, either as a sole proprietorship or LLC. Obtain necessary trade registrations and stationery stores business licenses such as the Shop and Establishment Act license.
Also, if you plan to sell computer software, the necessary licenses need to be applied. You will need to apply for PAN and TAN and register for appropriate taxes such as GST, Vat, etc.
Take legal help for these, as in India, bureaucratic matters do not usually run smoothly.
Suppliers and Vendors
In any retail business, supply and distribution go hand in hand. Being a retailer, you need this to maintain a healthy relationship with your suppliers and vendors.
You should purchase at wholesale prices to maintain your desired profit margin. Hence, while choosing your supplier, make your selection based on the best deal provided and keep a check on the quality of goods.
Inventory and Accounting
In a retail business, managing inventory is a main feature.
You are stocking up on items required as per local demand, clearing stock of large items no longer in demand, having stocks of seasonal products such as Christmas or Diwali products.
It would be best if you were ever alert for backlogs and stops in delivery.
Organizing a delivery system is hard work; tracking and scheduling should be done correctly. Install CCTV cameras for your storerooms and front store areas.
These are some tips that will help you to grow your business properly.
All the best for your business.