[Q] Setting Up A Retail Shop

dont give refer and earn options ….

edit:more info later

@billa ajith wrote:

dont give refer and earn options ….

So what kind of input are you looking for? You have the license. So run to the manufacture with whatever product that is trending on Amazon and other portals. Replicate and sell. Collect money. Go to showroom. Buy lamborgini. Repeat.

@billa ajith wrote:

dont give refer and earn options ….

edit:more info later

heading se lga chalo babaji se jaan chhootteeggii kaam me dhyan lgega too auro pe tont marna band ho jaega pr ye kya inka dost lga rha h thela

Suggestions →

1. Try to use a website for online storefront, make use of third party site or better still get your own site, if not now then later in the year.
2. Give discounts (to attract customers as these days people are like OMG even for 5% off) via online delivery, whatever you can afford, but do charge for delivery (& CoD) at least upto a certain minimum purchase amount like 500/-
3. At the beginning try to keep your costs down as much as possible, install LED bulbs only, use the cheapest most power effiicent systems you can afford & don’t go for expensive broadband, should you ever need one.

The bottom line → unless you’re having a reserve (cash?) amount for the future (or VC funds ) do not overspend on expansion & promotion as first rule of any business is making money. Profit should always be top of your “to do list” & then you can go places by showing that you’re in the black, loans are much easier thereafter

how is this a FPD?
anyway, For loans, apply for Pradhan Mantri Mudra Yojna(pmmy) at any of your nearest bank. It would a pain in ass to get this done from your bank because the interests are extremely low. Give it a try, worth every pain. Interests are 1-4%.

check:
http://www.pradhanmantriyojana.in/mudra-bank-lo...

should u need anything, shoot anytime.

@anoxy21 wrote:

how is this a FPD?
anyway, For loans, apply for Pradhan Mantri Mudra Yojna(pmmy) at any of your nearest bank. It would a pain in ass to get this done from your bank because the interests are extremely low. Give it a try, worth every pain. Interests are 1-4%.

check:
http://www.pradhanmantriyojana.in/mudra-bank-lo...

should u need anything, shoot anytime.

Read this guys.

Best. Advice. Ever.

I wish I had a gun. So I can shoot all the people and take their wallets.

(Only kidding bro. Don’t shoot me now)

@$hubham wrote:

Suggestions →

# Try to use a website for online storefront, make use of third party site or better still get your own site, if not now then later in the year.
# Give discounts (to attract customers as these days people are like OMG even for 5% off) via online delivery, whatever you can afford, but do charge for delivery (& CoD) at least upto a certain minimum purchase amount like 500/-
# At the beginning try to keep your costs down as much as possible, install LED bulbs only, use the cheapest most power effiicent systems you can afford & don’t go for expensive broadband, should you ever need one.

The bottom line → unless you’re having a reserve (cash?) amount for the future (or VC funds ) do not overspend on expansion & promotion as first rule of any business is making money. Profit should always be top of your “to do list” & then you can go places by showing that you’re in the black, loans are much easier thereafter

I dont think profits should be on the top of the list when u are just starting out. Fame and faith should be priorities. profits are its by products.

@anoxy21 wrote:

@$hubham wrote:

Suggestions →

# Try to use a website for online storefront, make use of third party site or better still get your own site, if not now then later in the year.
# Give discounts (to attract customers as these days people are like OMG even for 5% off) via online delivery, whatever you can afford, but do charge for delivery (& CoD) at least upto a certain minimum purchase amount like 500/-
# At the beginning try to keep your costs down as much as possible, install LED bulbs only, use the cheapest most power effiicent systems you can afford & don’t go for expensive broadband, should you ever need one.

The bottom line → unless you’re having a reserve (cash?) amount for the future (or VC funds ) do not overspend on expansion & promotion as first rule of any business is making money. Profit should always be top of your “to do list” & then you can go places by showing that you’re in the black, loans are much easier thereafter

I dont think profits should be on the top of the list when u are just starting out. Fame and faith should be priorities. profits are its by products.

This applies only if you are getting VC funds.

@anoxy21 wrote:

@$hubham wrote:

Suggestions →

# Try to use a website for online storefront, make use of third party site or better still get your own site, if not now then later in the year.
# Give discounts (to attract customers as these days people are like OMG even for 5% off) via online delivery, whatever you can afford, but do charge for delivery (& CoD) at least upto a certain minimum purchase amount like 500/-
# At the beginning try to keep your costs down as much as possible, install LED bulbs only, use the cheapest most power effiicent systems you can afford & don’t go for expensive broadband, should you ever need one.

The bottom line → unless you’re having a reserve (cash?) amount for the future (or VC funds ) do not overspend on expansion & promotion as first rule of any business is making money. Profit should always be top of your “to do list” & then you can go places by showing that you’re in the black, loans are much easier thereafter

I dont think profits should be on the top of the list when u are just starting out. Fame and faith should be priorities. profits are its by products.

@sidbhai wrote:

@anoxy21 wrote:

how is this a FPD?
anyway, For loans, apply for Pradhan Mantri Mudra Yojna(pmmy) at any of your nearest bank. It would a pain in ass to get this done from your bank because the interests are extremely low. Give it a try, worth every pain. Interests are 1-4%.

check:
http://www.pradhanmantriyojana.in/mudra-bank-lo...

should u need anything, shoot anytime.

Read this guys.

Best. Advice. Ever.

I wish I had a gun. So I can shoot all the people and take their wallets.

(Only kidding bro. Don’t shoot me now)

@$hubham wrote:

@anoxy21 wrote:

@$hubham wrote:

Suggestions →

# Try to use a website for online storefront, make use of third party site or better still get your own site, if not now then later in the year.
# Give discounts (to attract customers as these days people are like OMG even for 5% off) via online delivery, whatever you can afford, but do charge for delivery (& CoD) at least upto a certain minimum purchase amount like 500/-
# At the beginning try to keep your costs down as much as possible, install LED bulbs only, use the cheapest most power effiicent systems you can afford & don’t go for expensive broadband, should you ever need one.

The bottom line → unless you’re having a reserve (cash?) amount for the future (or VC funds ) do not overspend on expansion & promotion as first rule of any business is making money. Profit should always be top of your “to do list” & then you can go places by showing that you’re in the black, loans are much easier thereafter

I dont think profits should be on the top of the list when u are just starting out. Fame and faith should be priorities. profits are its by products.

That won’t earn you a dime, not to mention make you sleep at night, breaking even is the most important thing in any business. Now if you’re looking at the likes of Snapdeal, Paytm, Flipkart as a role model then try a second time, they’re still bleeding tons of investor money, not to mention the likes of Timtara, Tradus, letsbuy et al that have vanished into thin air.

okay, now said, i am not asking to organise langars. money will come. xlx

Views and strategies set people apart in this competitive world of business.

anyway, everybody’s entitled to their own views.

@anoxy21 wrote:

Nah, if u ask any successful business person, they would always say dont go behind money. earn faith not money.

okay, now said, i am not asking to organise langars. money will come. xlx

Views and strategies set people apart in this competitive world of business.

anyway, everybody’s entitled to their own views.

What you’re saying, & I’m advocating, are not mutually exclusive. How do you not earn faith whilst making profits

I see that you’re trying to push an idealistic (holistic?) view here, business however is all about simple economics (& maths) with faith being a distant second. So long as you’re not cheating/hurting anybody, you’ll be faithful to your customers (& anyone else you;re dealing with) & have a name, however making money is a natural progression & doesn’t have to come at the expense of anyone else

OMG! Was I wrong anywhere with my choice of words for the post? This is a small-scale retail shop that we are planning to do. 5% discount is fine but online store with our own website, home delivery with CoD and all is too much for us now. The manpower is extremely low. It’s only me and my friend.

@anoxy21 @$hubham

@kuttaishete wrote:

heading se lga chalo babaji se jaan chhootteeggii kaam me dhyan lgega too auro pe tont marna band ho jaega pr ye kya inka dost lga rha h thela

Don’t worry. I’ll not be as free as I am now to do all that. So, all idiots are free to make a mess of DD as much as they like.

@Magus wrote:

OMG! Was I wrong anywhere with my choice of words for the post? This is a small-scale retail shop that we are planning to do. 5% discount is fine but online store with our own website, home delivery with CoD and all is too much for us now. The manpower is extremely low. It’s only me and my friend.

Manpower is secondary. Look at Bill Gates and Steve Ballmer. Only two of them. And they are in the top 1%. Heck, you have more manpower than Mark Zuckerberg, who single-handedly started Facebook.

Now, I am simply waiting for the day this retail shop buys Amazon and Flipkart and changes the name to Amakart.

Just a matter of time.

@anoxy21 wrote:

how is this a FPD?
anyway, For loans, apply for Pradhan Mantri Mudra Yojna(pmmy) at any of your nearest bank. It would a pain in ass to get this done from your bank because the interests are extremely low. Give it a try, worth every pain. Interests are 1-4%.

check:
http://www.pradhanmantriyojana.in/mudra-bank-lo...

should u need anything, shoot anytime.

Is this really on FP?

My friend was telling me about PMMY. We’ll definitely look into it.

@sidbhai wrote:

Manpower is secondary. Look at Bill Gates and Steve Ballmer. Only two of them. And the are in the top 1%. Heck, you have more manpower than Mark Zuckerberg, who single-handedly started Facebook.

Now, I am simply waiting for the day this retail shop buys Amazon and Flipkart and changes the name to Amakart.

Just a matter of time.

Looks like you got all the time to be on DD today.

@Magus wrote:

@sidbhai wrote:

Manpower is secondary. Look at Bill Gates and Steve Ballmer. Only two of them. And the are in the top 1%. Heck, you have more manpower than Mark Zuckerberg, who single-handedly started Facebook.

Now, I am simply waiting for the day this retail shop buys Amazon and Flipkart and changes the name to Amakart.

Just a matter of time.

Looks like you got all the time to be on DD today.

Haha! Well, I am simply looking to be partner no. 3 in the next billion dollar business.

@Magus the best option for you is to start a Patanjali store in your area, especially if there is none in your area. You can generate decent revenues, I believe.

Really ? Good Luck

@Magus wrote:

@anoxy21 wrote:

how is this a FPD?
anyway, For loans, apply for Pradhan Mantri Mudra Yojna(pmmy) at any of your nearest bank. It would a pain in ass to get this done from your bank because the interests are extremely low. Give it a try, worth every pain. Interests are 1-4%.

check:
http://www.pradhanmantriyojana.in/mudra-bank-lo...

should u need anything, shoot anytime.

Is this really on FP?

My friend was telling me about PMMY. We’ll definitely look into it.

@dealbhai wrote:

@Magus the best option for you is to start a Patanjali store in your area, especially if there is none in your area. You can generate decent revenues, I believe.

They ask for a photograph of the shop even to get dealership.

And I’ll be able to pay the advance amount for a place only if a bank is ready to fund me on loan.

@Magus wrote:

@kuttaishete wrote:

heading se lga chalo babaji se jaan chhootteeggii kaam me dhyan lgega too auro pe tont marna band ho jaega pr ye kya inka dost lga rha h thela

Don’t worry. I’ll not be as free as I am now to do all that. So, all idiots are free to make a mess of DD as much as they like.

@Magus wrote:

@kuttaishete wrote:

heading se lga chalo babaji se jaan chhootteeggii kaam me dhyan lgega too auro pe tont marna band ho jaega pr ye kya inka dost lga rha h thela

Don’t worry. I’ll not be as free as I am now to do all that. So, all idiots are free to make a mess of DD as much as they like.

[ostscript]

Kindly share your valuable inputs.

@Magus wrote:

A friend of mine is planning to set up a small scale retail shop selling organic stuff and herbal medicine. I’m also planning to be a part of this venture. We both have been looking for info about the basic steps to be taken, On top of that, I thought my work would be made easier with the inputs of dimers.

He has an fssai license to manufacture some value added food products. In addition to this, we are also planning to sell siddha medicines prepared by a well-established company in TamilNadu. Depending on the amount of capital we could generate, we are also planning to bring in popular brands like Patanjali.

wow sach ! this is like seeing Lenin take controlling stake in Walmart, Pizzahut or Shell !

So you going down the FMCG route for commercial or livelihood related reasons, frankly at-least i: am surprised !!
Maybe i shouldn’t be.

Well off the hook, not much direct recollection. Besides each region has local laws that change from time to time. Assuming yours is in Puducherry proper, then do seperate rules exist for U. territory, i’m unsure.

But I think if you/partner hasn’t had ‘any’ experience of setting such an official business up, then better to take external help. Some pro-bono consultant or acquaintance with a similar shop or exposure to procedures.
Or hire/pay a dedicated nodal agency [even some Crooked
municiple employees or their cronnies often ‘help’ get things moving]. Check locally, i don’t need to ellaborate to you what i am hinting at.

From the looks of it you’d need to comply with TN Shop and Estb’mnts Act 1947, Weights and Measures Regulations 1985 and also check if the hokum of Unani, Ayurvedic can rid you of the drug/pharmacy licenses. Else comply with those too.
§
§
if you haven’t already done so, please have a look at http://www.tn.gov.in/forms/cate.../4 and
http://www.tnhealth.org/drugcontrol/application... and get on-board someone well-versed in http://nics.in/wp-content/uploads/2014/03/TN-Sh...

can absorb those costs (ghost expenses, speed monies) yourselves or charge them to the books of the firm somehow.
.
Speaking of firm, have you thought of or consulted up on; what kind of entity it will be? JV with a sleeping partner, proprietorship with the financers shown seperately and/or an ROC filing and getting all these new tax breaks and all. Hmmm?
.

DOs and DON’Ts

and about the various loans available in this regard.

not that i don’t have faith in you folks, but just as caution, Hope you do not create a lien on any of your personal assets in any formal, informal loan process please.

§

Forget Divya Farcemacy.. heck if you have 350-400" ground floor space at a decent area, then Amazon (ATS wing), DTDC types would be more than happy to use your services.
[AMZ does pay upto 40-50 bucks for each delivery, some of which are FBA orders! Or that’s what i recollect from last year. Talked to the photocopy shop employee whom i recognised when he came to deliver. Pudu too must have Amz’s pick-up your parcel option naah ?if space and other resources permit, then why not. [Divya Farcemacy retailer once casually told that they don’t get much credit line (time-wise). AMZ partner (photostat shop owner) told me later, they (AMZ) periodically release the payment and are systematic.
[i am not nudging towards replacing main activity with courier thingy. Just gave an idea how things can be supplimented and ‘operating costs’ can be funded.
.
.
.
Manufacturing Licence kyun! khud ke (unbranded) preparations? like churans/ bhasma’s , tablets and all ¿ ignore if n00b question.

Please pardon if its all too hotchpotch and vague, i just kept jotting some thoughts. This isn’t structured or even well thought of. For a change i wont take the excuse of falling eyesight and typing on a not so big mobile.
[though they are perfectly Legit. Unchecked blood sugar levels and throwing caution to the winds ensures i barely make out blurred forms on-screen.. after using it for any 10-12 minutes continued stretch yaayy)

typographical and illiteracy mistakes E & O.E.

@Spock I’ll keep that advice in mind.

I’m not a partner (of any type) in this venture. I will just be a paid employee, looking after the shop. Salesman cum accounts keeping. Frankly speaking, I don’t have any money to invest.

He has a license to manufacture millet based food products, for example, Idli / Dosa dry mix. He’s already into it at a very elementary level and the product is quite successful among our friends and their families. It’s a part of our vision to help people appreciate the goodness of our traditional food habits. People these days haven’t even seen any millet, let alone consume it. But when we provide it in a ready-to-cook (or consume) form, they really like it.

Regarding the legal procedures, I just want to help him with any info available all around. Thanks for your input.