Business Plan Convenience Store

Business Plan Convenience Store-12
Check out your competitors and try and see how your customers think of your products relative to your competitors.You will need to keep in mind that this is a very low margin business and you will need to make sure that there is no margin for error while purchasing inventory.

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A good location is vital as it will ensure you have a good amount of footfall every day.It will enable you to select the right place to set up your shop and determine the products you want to offer, set your pricing and selling strategy.Factors which will influence your grocery shop business will include your customers’ background, their location, living standards, products they prefer to buy; when, how much, and how often of it they buy.Now that you have a grocery store business plan in mind and are in the process of setting up your business, it would be totally up to you to decide how much of financial expenses you will be incurring in setting up this business.The grocery store business start-up cost would be influenced by many factors like the location of the shop and the rent you would need to pay, the inventory you need to buy, and how many salespersons you would be hiring.Setting up your grocery shop would also involve buying furniture like racks, which are needed to display different products, a table with drawers, etc.You can set up a very basic grocery store in a local area with an investment of Rs 50,000.As these are legal requirements, you will need to visit the license authority office to get the grocery store licenses to start a grocery store anywhere in India.Get in touch with a CA before you start your business so that you are properly guided in the legal requirements for setting it up.If you want to set up a modern convenience store or grocery store in an upscale mall or a central location with amenities like AC and many sales persons, then you will need to invest more than Rs 2 lakhs.If the amount is exceeding your budget, then you can always take a business loan from the banks.

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