How to Start 99 Store Business in India
How to Start a 99 Store Business in India: A 99 store business can be a very profitable business in a huge country like India where most of the people have low income. It is because there is no dearth of people buying things at cheap prices, which is why such stores are always crowded with customers. As we all know very well that India is the second largest country in the world in terms of population, so the world also has a huge market for consumption of all types of goods.
As far as the 99 store business is concerned, customers are faced with a lot of options, that is, they have to choose an item as per their requirement from millions of items which they feel are not available anywhere. In such a small amount. This is the reason why 99 stores in a congested area can see a significant number of customers. This type of business targets people of almost all income groups, and usually it targets the large population of the country like low income group, middle income group, which are the largest in the country.
Therefore, starting a 99 store business in a country with a large population like India can be very beneficial from the earning point of view. This is the reason that today through our article we are trying to provide complete information on this topic so that an interested person who is moving towards becoming an entrepreneur can earn his income by adopting this profession.
What is 99 Store
If you still don’t understand about this business, you want to clarify that 99 Store is a place or a shop. Where all the items are available for only and only Rs.99. Because currently Rs. 99 is a very small amount due to which a good number of customers can be seen in these stores.
And it is not necessarily that there should be any limit on the items in this type of store, rather the fact that this type of store regularly has household items, grocery items, shoes, clothes etc all available for Rs. 99. And that is why customers prefer to go to this type of store.
Because they are not pressured to buy anything and they can guess by looking at the item whether the item will be less or more than 99 rupees in the general market. It is often seen that people who think that they are getting very cheap in 99 store, even if they don’t need it now, they don’t hesitate to buy it. So a store where customers can buy all items for Rs.99. It is known as 99 Store.
99 Stores Required
As we mentioned earlier that a 99 store can find such items, which are used daily in almost every home. It includes everything from plastic items to kitchen crockery, groceries, shoes, slippers, clothes, mobile accessories etc. And currently 99 or a hundred rupees is not a big amount for any income group. That is, this means that even a low income person is able to spend ninety nine rupees for his household needs.
So this type of business is not untouched by any income group. One of the hallmarks of the 99 store business is that people here are curious, meaning they want to know what they can get for ninety rupees. Even out of this curiosity, they enter the store and immediately buy the item even if they don’t get it in the market for so little money.
Since the majority of the population of India belongs to the low income group, they are always in a hurry to buy things that they can easily get at a very low price. That is why 99 stores are required in almost every small and large local market now. It mostly consists of household items, which are required by humans to carry out their daily activities, so it is likely to be sold soon.
How to Start 99 Store Business
By the way, if you look at it from the point of view of license and registration etc., starting a 99 store business is a very simple and easy process. That’s because to start this type of business on a small scale, no license and registration is required. But the entrepreneur has to start this business only by following the local rules. To start this business, an entrepreneur also needs a shop or a place in a crowded area.
Where he can start such a business by setting up his own store. Let us know how one can start his own business. By the way, the entrepreneur can do GST registration etc. in advance if he wants. So that he does not have to face any kind of problem in ordering goods, billing etc.
- Select Location
No matter how cheap the items are in your store, people will come there only if they do not face any difficulty in reaching there and they can also easily see your store from the main road. Yes friends 99 store business is also a business for which having a good location is absolutely necessary.
Therefore, any congested area where thousands of people pass through every day can be a suitable location for this business. Apart from this, the local market of a city can also be a suitable place for this. So, if an entrepreneur wants his business to succeed, he has to choose a good location for it.
- Decide to Franchise or Own Work
Currently some leading stores already operating are offering their franchise to people to start 99 store business. They not only sell goods to the entrepreneur but also help in marketing, branding etc. to sell the product. But most companies overcome all this
- R does at the entrepreneur’s expense and not at his own expense. So if an entrepreneur wants to start his business under the name of an already established branded store then he may need to take up a franchise.
- When an entrepreneur wants to establish his branding by naming his store, he should start this business on his own i.e. independently. Starting this business independently can have many advantages.
- The biggest advantage of doing 99 store business independently is that if the entrepreneur wants, he can buy from anyone, that is, from where he gets the goods cheaply. That is, goods stuck in customs, auctioned goods, etc., can be purchased at cheaper prices directly from the manufacturer, if the entrepreneur so desires. While this freedom of the entrepreneur ends after taking the franchise.
- Manage Place or Shop at Selected Location
Whichever location is chosen by the entrepreneur for his store, now his next step should be to find any vacant shop in that chosen location. Where it can set up its own 99 stores, as far as space is concerned, 600-900 square feet of space would be suitable for the job. But if the entrepreneur wants to start this business with a big investment then he may need more space.
- One thing an entrepreneur needs to keep in mind while renting a shop or place is to get a lease or rental agreement, so that this document can be used as an address proof. As far as the rent is concerned, the rent can also vary depending on the location.
- Interior Work in 99 Stores
99 In a store, the entrepreneur sells almost all kinds of items, so if proper arrangements are not made to keep them, the attractiveness of the shop will not only decrease. Rather, they will also be kept away from the eyes of the customers and when the customer asks the entrepreneur to show the item, the entrepreneur or employee of the entrepreneur faces a lot of trouble. So, to avoid all these, an entrepreneur running a 99 store business should get interior work done in his shop with the help of an interior designer.
- In this, the entrepreneur may need to define separate display sections for different categories like separate for clothing, separate for plastic items, separate for grocery items, footwear etc. And if the entrepreneur wants the customer to come inside the store himself and automatically select the item and leave after getting the bill at the billing counter, he has to install CCTV cameras in his store as well. So that no wrong activity is done by any customer or employee in that store.
- Order Goods From Supplier
Presently suppliers supplying goods for 99 store business can easily be found in big metros. But entrepreneurs involved in this business in small towns have to buy goods from big cities at once. It is often seen that when an entrepreneur orders goods worth 5-10 lakhs at once, he is offered delivery by the supplier only to his store. Instead, it is offered by the supplier to waive the transport charges and give some other extras.
- Therefore, if an entrepreneur cannot find a local supplier, he may decide to procure goods together to start this type of business. Also, as the entrepreneur gets experience doing this business, he will also know in how many days he can sell the goods at that location.
- Later, an entrepreneur running a 99-store business may decide to order goods and maintain stock on the same basis. And if the entrepreneur wants, he can buy and sell goods at a cheaper price from closed factories, goods stuck in customs, manufacturers, etc.
- Do Marketing, Sell & Earn
By the way, if the entrepreneur’s 99 store is present on a busy road or congested area, where thousands of people walk every day. So in that case this type of business does not need marketing etc. Because only people coming here and there are converted as its customers. But one thing must be kept in mind that it should be clearly written by the entrepreneur that there everything is available for Rs.99.
- Because there are many customers who cannot explain the meaning of 99 store by the fact that everything will be available here for 99 rupees. So posters, banners etc. should be put up outside the shop, in which it is written that everything here is available for Rs.99. As far as earnings are concerned, most entrepreneurs can earn 25% margin from this business.
- That is, the price of the item for which they are selling at ninety-nine rupees is 70-75 rupees. So, if an entrepreneur is able to sell goods worth five lakh in a month, he can earn up to Rs 1 lakh in a month.