Best Investment Options – Opening online Kirana Store
Setting up Online Kirana is one of the best business idea. This is one of the new concept and there are only very few online kirana stores in India which can be counted on finger tips. One can get benefitted by entering early into this business as there are very few competitors in India.
What is this business idea about?
We know that groceries / kirana items are sold in kiran shops available near to us. However, one may or may not find time to buy during the day time due to our busy schedules. Online kirana stores offer the services through online website where one can fill the details and the products would be delivered to home with small service charges.
What are the investments required?
The investment amount varies based on the products you choose to sell through online kirana stores. The larger the high price products you intend to sell, you need to have larger investment amount.
Who are the competitors currently ?
Currently there are a few competitors like www.kiranawala.com, www.onlinekiranastore.com etc.,
How to start this new business?
Below steps can be followed to enter in to this business. This is not comprehensive and is only indicative
1) Selecting the location of business: Since the products are sold online, the location need not be near to the centre of the market nor in the centre of the city. The only criteria we feel would be, selecting the location which should be nearer to transportation facilities. The products should be able to dispatch easily through local transportation
2) Identifying the areas where we need to sell the products: To start with, the base location needs to be selected. Once the services are provided within the City where the business is located, it could be extended to various cities nearer to us.
3) Building an e-commerce website to sell the products: Since it involves building a good website, going for free website creation methods would not help. Identify professional e-commerce building institutions to create the e-commerce. Ensure that proper training is given to the team, else we end up struggling in updating the inventory into the website and delay the online sales.
4) Starting with a fewer products: Start this business with a few products. There are various benefits of going with this approach.
a) When you order buying bulk of quantity of same product, you get maximum discounts.
b) In case you have variety of items, but low quantity, this would create supply problem. You may not be able to fulfill the requirements of customers
5) Manpower: One cannot be able to guess about the manpower requirement in initial stages as it depends on the size of the business. There are three main teams required for the business
a) Purchasing team: This team need to work on identifying what to purchase and getting the products at lower prices
b) Inventory team: This team would keep accounting for the products received and products sold and returned
c) Sales Team: This team need to primary work on two areas. One is the ways to identify and attract customers and second is to ensure that the products are sold and dispatched to customers. The success of this business depends on how we are trying to be closer to customers and how the services are being delivered within the promised time.
6) Other ways to attract the customers and to be success in this online kirana business
a) In initial stages of business, offer huge discounts. You may end up in zero profit for few months. But treat this as investment
b) Provide quick service to the customer. Deliver the products within the promised time. Customer can trust only when we deliver, what we say
c) Resolve customer complaints at a faster pace. This approach will ensure that the reputation is not lost.
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