SMALL RETAIL BUSINESS IN INDIA
SMALL RETAIL BUSINESS IN INDIA
Indian retail industry, well, there is no doubt that the Indian markets are filled with retail shops, be it stationary or fashion and this acts as an evidence to the fact that the Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players which makes India world’s fifth-largest global destination in the retail space.
Well, various factors contribute to this position of the Indian retail industry, including factors like e-commerce and the nature of the business, which makes it dynamic and if done right, profitable.
Indian e-commerce sector is expanding at a steady pace with the key being that it offers an ever-increasing choice of products at the lowest rates to the customers. This industry has been creating a paradigm shift in the retail industry and trend seems to continue and boost after the coronavirus pandemic in the year 2020.
Retailing is also a famous business in India because of its nature of being a direct interface between two parties, i.e. the buyer and the seller and involves the coordination of business activities from end to end- right from the concept or design stage of a product or offering, to its delivery and post-delivery service to the customer.
With such an amount of feedback, it is very evident that one can have profits and growth in one of the fastest-changing and dynamic industries in the world today. The Indian retail industry is generally divided into small retail and organized retail categories.
The organized retailing focuses on marketing activities undertaken by licensed retailers who are registered for sales tax, income tax, with a corporate business, who implement management techniques managed by professionals as a firm or limited company or cooperative like the corporate-backed hypermarkets and retail chains, and also privately-owned large retail businesses.
The unorganized retailing is a part of the retailing industry which focuses on traditional forms of low-cost retailing like local Kirana Shops Owner Operated General Stores, Convenience Stores and Street Vendors, etc.
SMALL BUSINESS IDEAS IN RETAILING
- FARM MACHINERY SELLING: Agriculture, remains the most important sector in the Indian economy and hence its related industries are always in demand. And Indian village demographics are still engaged in agriculture and farming with this comes huge demand. The farm machinery and equipment are important items in the agriculture industry and one can meet the demand if you live in a village or small town consider this opportunity.
- You can also start a fertilizer distribution stores when it comes to retail in the agriculture industry with proper license and permission from the concerned authority also. The plan nursery shop is also another profitable business for any individual which is the low infrastructure cost makes the business revenue-wise more lucrative. Followed by these is the retail seed store through which you can sell the most important seeds are paddy, wheat, mustard, potato, and other vegetable seeds.
- CAR WASHING ZONE: Indian automobile industry is very promising and vehicle population is also growing very fast. Now, initiating a car washing zone makes a lucrative retail business idea that helps the new entrepreneurs start the washing zones also provide value-added services like air pressure checking etc.
- FUEL STATION/PETROL PUMP: Again, a retail industry that has a prominent role in India is the oil and gas industry, you can consider starting a fuel station or petrol pump business. You can set a petrol pump by researching a large space at a prime location, sell other utility items from the fuel station. You can start a two-wheeler showroom or a tyre store.
- APPAREL BOUTIQUE: One of the fastest-growing businesses one could have is an apparel boutique. This trending in the developed and developing countries demands the owner to have some design sense and fashion expertise as they start their business offering designer garments and several accessories items with unique designs.
- EMBROIDERY UNIT: Well, if you are equipped with the embroidery designing skill, then opening an embroidery unit is a good business opportunity for you. What you require apart from the skill is procuring the stitching machines, threads and other tools for running the unit which you can also start the business from home or a retail location.
- LADIES GARMENTS STORE: In this busy world, ready-made clothes have a different industry especially the ladies garment is the most promising segment. The target audience is the passionate buyers, women who buy frequently not only in the celebration time but also regularly makes it a lucrative business.
- LEATHER FASHION STORE: From shoes to bags to jackets, leather items hold high demand and accounts as a high-value business in the fashion industry. You can consider opening a leather fashion store selling the leather made fashion apparels exclusively including leather jackets, gloves, bags, and other utility items.
- SAREE SHOP: Indian wear, especially saree is a famous Indian attire that has a wide range of different styles and materials and hence a wide range of target audience. Even though India has been following the western fashion culture in past few years, certain fashion statements in India are still made with sarees from Kanjivaram, Banarasi, Sambalpuri, Tant, Fulkari, to Chikankari etc. Your brand can showcase a variety of these sarees with good quality material and skyrocket your business.