[Q] Setting Up A Retail Shop

[Q] Setting Up A Retail Shop

Score: 7 Votes: 7
Score: 7 Votes: 7
Score: 7 Votes: 7
Score: 7 Votes: 7
Score: 7 Votes: 7
Osho
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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, DOs and DON’Ts and about the various loans available in this regard. 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.

Kindly share your valuable inputs. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

@yogeshgemini @vishyvish1420 @PaytmKaPoojari @DealSeeker

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Deal Major
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dont give refer and earn options …. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

edit:more info later

Osho
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@billa ajith wrote:

dont give refer and earn options …. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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Budding Star
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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. https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

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@billa ajith wrote:

dont give refer and earn options …. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

edit:more info later


https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Captain
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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 https://cdn2.desidime.com/assets/textile-editor/icon_cry.gif

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I found this sponsored content on one of the ad networks.

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Deal Subedar
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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 https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif) 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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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Deal Subedar
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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.

Indian quotes
Budding Star
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@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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

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

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Deal Subedar
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@$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 https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif) 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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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.

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Deal Lieutenant
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@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 https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif) 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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

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Deal Subedar
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@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 https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif) 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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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.

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Deal Subedar
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@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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

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

chup saale, tu pehele mere msg ka reply kar.😂😂

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Deal Subedar
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@$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 https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif) 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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

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.
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.

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Deal Subedar
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@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 https://cdn1.desidime.com/assets/textile-editor/icon_confused.gif

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 https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

Osho
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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. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@anoxy21 @$hubham

Osho
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@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 https://cdn2.desidime.com/assets/textile-editor/icon_cry.gif



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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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Budding Star
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@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. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif


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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

Just a matter of time. https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif

Osho
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@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? https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif

My friend was telling me about PMMY. We’ll definitely look into it. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Osho
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@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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

Just a matter of time. https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


Looks like you got all the time to be on DD today. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Indian quotes
Budding Star
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@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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

Just a matter of time. https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


Looks like you got all the time to be on DD today. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif


Haha! Well, I am simply looking to be partner no. 3 in the next billion dollar business. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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Deal Cadet
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@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.

1795140
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Really ? Good Luck https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

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Deal Subedar
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@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? https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif

My friend was telling me about PMMY. We’ll definitely look into it. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

ok cool
yeah, its showing fpd(writtn below title) on my phonr.

Osho
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@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. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

And I’ll be able to pay the advance amount for a place only if a bank is ready to fund me on loan. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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Deal Captain
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@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 https://cdn2.desidime.com/assets/textile-editor/icon_cry.gif



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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif kb aega vo din

Thumbimgcrop 1453457162537
Deal Captain
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@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 https://cdn2.desidime.com/assets/textile-editor/icon_cry.gif



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. https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif kb aega vo din

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Deal Captain
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[ostscript]

Kindly share your valuable inputs. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif
if ‘you’ are seriously going to be in midst of it all, (then) i hope, you keep ^ similar ^ bend-over backward pretence of politeness intact when/if any tax inspector or excise guys visit. As i see it, your real https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif tongue and mind might be one of the biggest risks to the venture :OOPS: [/postscript]




@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 https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif ! 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
well can not think of much, myself never been into trading :OOPS:
the P.S. on top was something which struck me first thing.
and about the various loans available in this regard.
after 4-5 years of being a dimer, if your firm has to depend on leveraging, its a pity https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif . Can’t tag yzyy or bootysweat now else you should ask someone like that on shops and finances stuff.
Don’t know much on those Gov. schemes mentioned above.
But do check if any community level local associations/ committees are into providing soft loans to people from within the community.
§
not the best choice but similar ‘co-operative’ bank options can be explored.

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.

§


not that I know much of Divyayog Farcemacy, but any established brand does extract prime frontage and impose intimidating T&C to make their own importance felt. Hope you don’t get cowwwed down by these things, if you are seriously determined.

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 https://cdn1.desidime.com/assets/textile-editor/icon_confused.gif kyun! khud ke (unbranded) preparations? like churans/ bhasma’s , tablets and all ¿ ignore if n00b question.

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Deal Captain
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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 https://cdn3.desidime.com/assets/textile-editor/icon_sad.gif yaayy)

typographical and illiteracy mistakes E & O.E.

Osho
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@Spock I’ll keep that advice in mind. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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. https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

Regarding the legal procedures, I just want to help him with any info available all around. Thanks for your input. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

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