Starting a small shop [ Bengaluru ]

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Blaze
dealwala_babaji

Hi everyone! I'm interested in starting a small shop to gain business experience. 

I am in Bengaluru currently and have rented a flat in Whitefield. In my lane, there are a couple of schools and 3-4 shops - mainly very small restaurants and Kirana stores.The shops do not run very well here - I have hardly seen customers here. So I assume shop rents may be lower here. 

I am considering options that could benefit from proximity to the school, but not any options that promote bad habits in kids (no bakery/ice cream parlour or only tea shop). I'm considering options like:

    • Stationary shop (+ xerox, etc.)
    • Milkshake shop (+ healthy snacks)

At a very high level, here's my basic plan:

  1. Find a shop, negotiate rent, and sign an agreement.
  2. Register my business.
  3. Set up the shop's interior and open. Hire someone to help run it.

Now I have absolutely 0 experience on these (except the interiors part). How does one go about this? I'd love your advice! Are there any scams I should watch out for? Should I consult a lawyer or a commercial realtor? Any tips are appreciated!

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Blaze Blaze
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@lXl You've got me curious about the budget now! When you say 'way off', do you mean I'm aiming too high or too low? Would a more realistic budget be closer to 7-8 lacs, or should I be thinking even smaller?

5 lacs is definitely not peanuts, but it won't be financially devastating if things don't work out. My main goal is to gain experience and build business skills outside my corporate job and probably start a passive income stream. (Currently there is some via dividends from equity but thats hardly 40k-50k an year)

Does that change your perspective on my initial plan? Any tips for someone in my position?
Deal Cadet Deal Cadet
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@dealwala_babaji

saudi oil is in most demand not because they the best but they are cheapest.

chinese good is in most demand not because they the best but they are cheapest.


u got the message, the bottomline of any biz = cost


in my opinion which could be wrong but ur budget is high fot the kind of busines u said u plan to go.


 crunch the numbers & forcast ur profit numbers based on minimum footfall & sale value per customer. check what's ur profit aftr tax to make this propsal jjudstdifiable

Benevolent Benevolent
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@arko1983650 Congrats !!! finally what is it ? Saloon ?
Deal Cadet Deal Cadet
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@baludesi

yes thinking of it now beauty parlor/massage/nail art etc unisex.

shop cost 75 lakh + interior 15 lakh + materials& furniture  10 lakhs upfront cost 1 cr . then there is shop maintenance, beautician charges + electricity bill etc. 
took out the money when nifty hit above 22k and kept in bandhan saving account top get approx 7%.

Generous Generous
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Just start

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Post Emperor Post Emperor
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Just open a grocery retail store

Blaze Blaze
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Groceries would go bad much sooner if demand isn't there. Was planning to have something that has a relatively longer shelf life.

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Pro DealBaba Pro DealBaba
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How old are you and how much capital u are assuming to put.

Blaze Blaze
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I am 30 years old. I have sufficient savings, was planning to limit the initial investment to 5 lacs.

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Deal Cadet Deal Cadet
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this is india & land of zero entry barriers.

dont complicate things with shop, agreement, register biz, realtor, lawyer etc

get a thela & sell fruits (buy wholesale & sell retail)

Blaze Blaze
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Thanks for the suggestion! While a thela sounds like a practical start, I'm keen on the experience of setting up a shop, even a small one. This would help develop skills in negotiation, business registration, etc. Do you have any insights on those aspects for a small shop?
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Benevolent Benevolent
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@arko1983650 - BTW did you start your shop ?

Deal Cadet Deal Cadet
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no will start next year. this year I have some other commitments. will start interior in sep-oct. still not paid fully for the shop.getting  approx 7% in bandhan savings account. Only i have done agreement with the builder.

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Deal Cadet Deal Cadet
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btw with everything digital xerox is dying industry.

with school kids healthy snacks is not an option vs old people who realise to eat healthy to avoid medical bills.

ur target market are wrong in my opinion but again who am i to say

Blaze Blaze
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You're right that I need to be realistic about my target market. My main focus is getting experience with a small business, so I'm open to adjusting my initial ideas. Do you have other business types that might work well in this location?
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Deal Lieutenant Deal Lieutenant
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Book store , vegan cafe ...

Deal Cadet Deal Cadet
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dont know what vegan cafe means but with audio books & ebooks the book store is probably a dying industry that too in a time where schools themselves pimp books & even noteboiks  by forcing parents to buy from school itself

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Deal Cadet Deal Cadet
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regardless good for you that u have decided to break the shackles of slavery.

trust yourself & take all comments including negative as a scope to improve.

that way u can succeed


Blaze Blaze
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Thanks for the good vibes! I definitely see the value in taking all the feedback onboard – even the tough stuff helps make the plan better. I'm all about making this work!
Deal Cadet Deal Cadet
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First of all you don't need gst registration if you are opening small shop. You may require food license if dealing with grocery or any eatables.

Before you start calcute your expenses in terms of rent salary electricity and other expense because initially these take large part of capital expense. Get realistic assessment of sales and margin. Be flexible with ideas don't try to create demand but try to cater to demand.

Post Emperor Post Emperor
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Cybercafé with gaming parlour as per your budget.

Helpful Helpful
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Not the budget for gaming parlour, everyone has computer, if they want to play game in parlour they expect Xbox, PlayStation or high-end computer systems.

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Generous Generous
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Just start

Brand Enthusiast Brand Enthusiast
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Good luck!
Generous Generous
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You can think about the Laundry if there is not a lot nearby. OR may be branded franchise Laundry services.

(Check the water issues of the area as well 😬)

Deal Lieutenant Deal Lieutenant
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In my city (Tier 2 city in West bengal's Darjeeling district)

A small cloud kitchen was started by a a couple. The concept was early morning less oil food for school and college kids at affordable prices. It hit well and now they run their kitchen theoughout the day via swiggy zomato

Deal Cadet Deal Cadet
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@arko1983650 where is the shop, I live in banerghatta

Deal Newbie Deal Newbie
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I have seen people hosting board game events on weekend at cafes and charging some nominal fees for entry. That could be fun.

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