How To Build A Kirana Store Business From Scratch
Kirana Stores are undoubtedly the lifeline and the favorite of every middle-class Indian household. No matter how much we progress as a nation and no matter how much we learn about digitization, we would always find ourselves ending up at that Kirana store just around the corner for every other thing.
What Is A Kirana Store, After All?
A Kirana store is a general department store that stocks and sells all kinds of household items, especially the ones that belong in the kitchen like groceries. Depending on the funds you have available or raised, you can decide the grandeur of your store or shop. Mentioned below are the key steps that you need to take in order to build a Kirana store of your own.
What All Do You Need To Take Care Of To Build A Kirana Store?
Every Business Starts With A Solid Plan first and foremost, you need to conduct thorough research based on which you will prepare a great and realistic business plan. You really need to identify what is the kind of customer base you would want to target. You need to then figure out what their prices are, likes, and dislikes. By observing what is the financial status of your target customer, you can plan the pricing of the commodities/products you are planning to sell. All in all, you need to
- Know your customer preferences
- Recognize their buying potential
- Be aware of their financial status
- Check for the competitors and their winning strategy
Choose your Location Wisely
Be Wary of the location you chose because the well-being and growth of your business depend a lot on this factor. Either choose a location where you can capture a bigger market but keep in mind that the better the market, the tougher the competition. If you chose to serve a bigger market, make sure you have something unique to your business that could attract customers. On the other hand, you can open this store at the outskirts for the customers who drive far off to the city just to make day to day purchases.
Arrange The Funds And Prepare The Stocklist
The two most critical factors in building a successful Kirana store. Once you are done choosing the location, please set your focus on arranging funds to take care of building your store or renting it, and all other expenses that tag along such as salary of the staff, utility bills, etc. Along with this, you also need to look after the inventory management. Focus on the products that are sold immediately and the demand never goes down. Do not stock too much, neither too lease. Just try and strike that balance to earn yourself a decent profit and keep the business running.
Work On Customer Retention
Always try and maintain a good rapport with your customer especially those who are quite regular at your store. Be a keen observation of what all the customers are demanding that your inventory still lacks. Ask for their feedback and always ensure supreme quality products. Work on the look, feel, personality, offers, AND digitization of your store because it is always important to keep up with the change and the need.
A Kirana store is a business made for people and made by people. It is no rocket science to set up a Kirana store but surely requires you to treat your customers as your top priority while retaining them for years to come. If this has ignited the fire in you to start your Kirana business, our goal is achieved.